Understanding the Launch Process
Why is launch misunderstood?
“Launch” is largely misunderstood because it is often referred to in terms of a point in time or an event. But successful launch managers know that a Launch is a carefully orchestrated process that is designed to produce a specific business outcome. For most of us that business outcome is accelerated sales momentum.
What is a product launch?
A product launch introduces a product to a market in such a way that it generates momentum.
When does product launch planning start?
Launch planning starts early in the product development process. It’s not something you should start planning after the product is complete. It starts with understanding the customer’s problems and challenges, and building a solution that solves those problems in a way that the customer sees enough value in it to pay for it. Power positioning can take time to evolve - rarely is it right on the first try. What is your target market? Who are the buyers? What is their problem? How important is this problem? Will they pay to fix the problem? Start earlier. List your assumptions and validate.
Who’s involved with the launch?
The number of people involved will vary depending on the size of your organization and the complexity of the product. The following departments should be represented as they each bring a unique perspective to the launch:
- Development
- Manufacturing
- Support
- Implementation services
- Training
- Sales
- Marketing
- Legal
- Accounting
- Channels
Who owns the product launch?
Some view Launch as part of the development process, which we reject. It is a process that is unique, it requires an approach that is very different from the development process, and requires an individual with special skills to drive the process to success.
Typically the product launch is driven by the product manager with overall responsibility for the success of the product. The product manager should be the one most in tune with the target market and driving the success of her product. Sometimes program managers support the product manager and are utilized to manage the activities and deliverables of the product launch.
Product launch goals and objectives
Like any important initiative a product launch should have at its core goals and objectives. The launch goals and objectives define the expectation of the launch and create and focus for the organization. When you approach a product launch as a process with planned goals and objectives, your perspective shifts and your approach is more focused. Your results are improved and you will capture the information to more accurately predict future product launch results.
What should I consider when planning a product launch?
A product launch that generates momentum requires careful consideration for all the elements that can make or break the launch. This is covered in more detail in the 6 Secrets of a Winning Product Launch white paper and our free on-demand product launch webinar. Once the market problem is defined and validated, the required product capabilities need to be validated. You also need to consider pricing, methods of distribution (how you’re going to sell it), buyer attitudes and preferences, the sales process and the sales tools needed, lead generation strategies and the competitive landscape.
How can I pull off a successful product launch with few resources?
In a word - leverage. Every organization, no matter the size, will encounter limitations in resources. Identify the internal and external resources you can leverage to magnify the outcome of your product launch. Customer support talks to customers every day. Who are the thought leaders in the target market? Do they know about your company and your product? What are they saying? Your goal is to assemble as many internal and external resources you can leverage as possible and get them excited about your product.
Product launch phases
A product launch is comprised of four distinct phases:
Plan phase |
The purpose of the Plan Phase is to identify target markets, determine capabilities that the target market is willing to buy, understand the competitive landscape, develop the launch strategy, create the product positioning, and build the Launch Plan. |
Readiness Phase |
The purpose of the Readiness Phase is to prepare the organization to sell, deliver and support the product. |
Initiate Phase |
The Initiate Phase is where the traditional launch of the product would occur. At this Phase the organization is ready to sell, implement and support the product. |
Results Phase |
The purpose of the Results Phase is to report on the effectiveness of the launch, validate assumptions and determine actions to take on the next launch to improve results. |
Product launch training
Product launch training is offered by Launch Clinic through the Product Launch Essentials Workshop, which is offered in a classroom workshop and an online workshop. Our product launch workshop schedule is being updated regularly so check back often.
