Launching your product is of equal importance to developing a great product. If your product launch is ineffective, customers will not be apprised of your solution, potentially have a bad impression of your product, and you may not meet your revenue goals. Therefore, planning early is crucial. Kick off your product launch plan 4-6 months before launch, with the aim that when the product is ready for sale you will be fully prepared to effectively execute a launch that meets your goals.
Product launch plans allow you to create a chronology of events that leads up to and even past a product launch date. Your goal is to ensure that everyone within the company, your partners and target consumers have knowledge of your new product.
Creating a Product Launch Plan
Your launch will inform your company and stakeholders what plans you have and how it impacts them. While creating your plan you’ll be able to reflect on the different aspects of the launch so that you are ready to execute the plan.
Recognizing Importance of Launch Plan
As any other thing in life investing time upfront planning your launch will possibly pay off with huge success. If you can visualize what your goals are and have a well-founded product launch plan example you’re at the very least headed in the right direction. Your Market Requirements, Go-To-Market Strategy and Product Requirements documents are rich sources for the topics required in the early days of each product launch plan.
Filling Out the Product Launch Plan Template
A launch plan comprises a list of launch activities and reasons for each of them.
Executive Synopsis
Synopsize the goals of your campaign including company messages, product audience, objectives for the launch, and how you will measure the launch success.
Product Description
Include a short description of the product around 2-3 paragraphs describing what the product is, the main features and benefits it provides. And how it solves consumer problems.
Target Audience
- Who is your target consumer?
- Who are the product personas?
Critical Success Factors
Include the precise criteria that demonstrate the launch was a success. Include solid and measurable goals like revenue targets, number of partners carrying the product, and channel availability.
Marketing communications
All the key marketing vehicles will work ideally for you given your financial limitations and your target audience! This might include:
. Collateral materials: Datasheets, brochures
. Press events
. Tradeshows
. Online communications
Milestones
List an all-embracing timeline of all activities in the product launch plan example that should happen.
Launch Budget Allocation
What will the budget for your launch plan be like? Generate a pie chart of how you’re allocating the launch budget and mention the details in a table.
Critical Dates and Milestones
List all critical dates and milestones such as product availability, deciding product name, working out budget, positioning, and press activities.
Inherent commitments and owners
Who is allocated to support customers all along the beta program?
Sum Up
A product launch is enthralling. Be sure to add elements of market exuberance into your plan for the best results.
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