Let’s do launch! By Joe Santana, Creative Director

Let’s do launch!

Tips for a successful product or service launch

As much as launching a new technology, product or business direction has the power to create business success, it also carries the risk of leaving everyone with the postpartum blues. You can greatly reduce that risk by understanding all the factors of a successful launch.

Many companies tend to visualize the launch planning process as a linear, step-by-step foot race to the launch date. They soon discover that launches are more like keeping half a dozen plates spinning in the air. Frantic as its pace can be, few business challenges compare to a launch in demands for strategic planning, task-centered teamwork, focused message development and ringmaster-like execution control. And few assignments offer the rewards a successful launch does. But, a launch leader must be willing to run back and forth among the concurrently-spinning platters of performance and keep the momentum going.

Plan Strategically

The data gathering and analytical aspect of your launch will typically put up three hurdles to clear.

Market Intelligence
Admittedly, you must understand your company’s products or service well enough to talk about them, and be familiar with product specifications, changing as they may right up to launch date. But it’s equally important to understand your target market, including the characteristics, preferences and pain points of your buyers. Plus do your competitive homework. Don’t limit your knowledge to product or service performance data.

Make sure you know the following about your customers: (a) who purchases this product or service, (b) what their values are, (c) why they’ll purchase it, and (d) where and how they get the information to base a decision about it. Customer information abounds. Pick up market research studies, but don’t automatically assume the “experts” know this stuff. Editorial audits (i.e., talking with editors to find out their preconceived ideas about a topic) will help you set the level at which your message can begin to be understood. Likewise, customer audit surveys via e-mail, direct mail and telephone questionnaires will uncover the hidden perceptions (or misperceptions) you must address before your selling message will even receive a hearing.

When you’ve gathered the data, and you’re poised to write a situation and competitive analysis, make sure your first keystroke begins a crystal clear statement of what you want this launch to accomplish. For example, do you need to build acceptance for a new technology or service among innovators in preparation for later product announcements? Are you introducing a new product or service that needs to quickly dominate its niche?
Measure Your Program’s Success
Part of your strategic thinking should include how you plan to measure the success of your launch efforts after the hoped-for feeding frenzy is over. Take the time to identify, agree on, and benchmark the indicators of success upfront. Take multiple types of measurements—survey results, website activity, inquiry counts, etc.—before the launch. Estimate how much change you expect the launch to make in these benchmarks, for whom, and by when. Missing this mark subjects your efforts to subjective criticism. And that’s as unnecessary as it is indefensible.

Launches can be costly. Almost always they are under-budgeted. But limited resources can be the mother of innovative strategies. An intensive PR campaign supported by informative, creative background materials can establish analyst credibility, influence OEM support, and get extensive coverage across trade and business publications. Paid media gets attention, demonstrates commitment and makes you a player. But the budget required to achieve results using paid media alone may not even make it past a project requisition. Leveraging content across a range of communication vehicles, including your website, is a way to stretch your marketing dollars.
Think Ahead. Way Ahead.
A year before your launch date (when the subject of your launch is just a twinkle in your eye), the window of launch opportunities is wide open. Prime panel positions at conferences and prized trade show locations are in the offing. Six months later, they’re not. At six months the aperture is already closing in on opportunities for editorial features. By not planning far in advance of a launch date, you may be passing up a balanced, all-you-can-eat buffet for an expensive binge of paid media.

Competitive analysis not withstanding, never underestimate a competitor’s ability to preempt your launch with a surprise launch of their own. Planning ahead puts you in a position to counter by simply compressing an already well-conceived launch schedule, instead of reacting in crisis mode. So leap into planning early and reap the benefits while the range of opportunities is wide open.

At MKTX, we use the following checklist to maximize the results of a launch. Hang on to it for your next plunge into a new market with a new product or service.

Elements of a MKTX Launch

Press Relations
1. Identify media list
2. Backgrounders, reviewer’s guide, papers
3. Press releases 1 or 2 about launch effort
4. Feature articles
Trade shows/ Conferences
1. Pre-show mailers to registered attendees, and current prospects
2. Pre-show press briefings & demos
3. Show guide ads/listings
4. Show events
5. Hospitality suites
6. Contest promotions
7. Joint display/events/sponsorships
8. Virtual trade show participation
Internet
1. Add web metrics (log file analytics) tools to benchmark and measure site activity
2. Optimize current site for search engines and begin optimization research for new content associated with launch
3. Plan the development and integration of new copy, images and graphics for the company website to support your launch message
4. Develop online sales support content (online demo, brochure, data sheets, white papers, etc...), These things can shorten the sales cycle.
5. Add relevant new press releases and background information to website
6. As they are published, link to news articles mentioning the newly launched product or service
7. Don’t forget to update your site map to show any structural site changes
8. Consider starting a search engine pay-per-click campaign
9. Consider developing a promotional landing page with a focused call-to-action for capturing contact information from interested prospects
10. Develop links and/or listings on relevant industry-related resource sites pointing to your company site
11. Provide appropriate content to partners (ask for a link pointing to your site, if one does not already exist)
12. Develop an eNewsletter or email campaign to inform customers, prospects, and editors of the launch
13. Monitor and/or participate in newsgroups, forums, blogs if appropriate, to create additional buzz.
14. Review post-launch web metrics to understand how users are using and interacting with new content—adjust content appropriately
Print Ads
1. Headline/visual concept creates splash. The goal is to get the reader’s attention.
2. Plan a compelling call to action
3. Ensure a consistent “look” with your website and collateral
Print Collateral
1. Fulfillment literature
2. Other printed materials
Sales Training/Sales Promotion
1. Strategic sales training to prepare sales force
2. Sales incentives/contest/prizes
3. Sales kits
Live Presentations
1. Spokesperson and laptop presentation
2. Tradeshow or corporate seminar
3. Special event hosted multimedia
Digital Presentations
1. Self-navigated Flash demo
2. Multimedia CD-ROM

Questions? Give us a call at 503-646-6589 or send an email to answers@mktx.com.

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