We\u2019ve all seen successful new product launches\u2014and product launches that don\u2019t quite hit the mark. What’s the difference between a successful product launch and a launch plan that fizzles? I\u2019ve considered this question time and time again throughout my career. I\u2019d like to share what I\u2019ve learned, to help you develop your own launch plan into a surefire success.<\/p>\n
Product launch definition<\/strong> Product launch captures all the hopes and aspirations of our team. It is the time and effort of one or many people wrapped up in that brief moment of time where the focus of our efforts is released into the world. It\u2019s an edge-of-your-seat experience, as you wait to see how the market responds, and how your customers react to the product you\u2019ve spent countless hours gestating, considering, and crafting.<\/p>\n It can be hard to avoid losing sight of this when between launches when the word hovers in the air detached from the experience. But when you\u2019re in it, when you see it\u2014the word \u201claunch\u201d should evoke the kind of excitement you get when watching a rocket soar into the unknown: the butterflies-in-your-stomach sensation of both a job well done and the anticipation of new discovery.<\/p>\n A product launch\u00a0plan is both your rocket blueprint and your map of the stars. In order to successfully launch a product, you\u2019ll need as precise a launch plan as your resources allow: specific tasks, assigned to specific people, with specific deadlines. And you\u2019ll need a plan that is resilient enough to withstand the headwinds in your way. It\u2019s normal to have some anxiety about your plan\u2014we all have some smoldering anxiety that we won\u2019t reach the heights we hope for. But the best product launch\u00a0plans strike a balance between hope and reality: if you do your research, put in the work, know your target audience, and understand pain points, you should have enough confidence that, even under the worst distress, the structures you\u2019ve engineered will sway but will not break. Your new\u00a0product launch\u00a0plan is your guiding light through troubled waters, hazy woods, the starry skies\u2026 you get the idea.<\/p>\n A product launch is when you start capitalizing on a market opportunity. It\u2019s the point at which the skills, efforts, and talents of those involved converge, and something new, risen out of the product endeavor, is put out into the world. In the most simple terms, it\u2019s the point at which we release a product to market, in hopes of some gain (financial or otherwise). In the best cases, it\u2019s more than that: it\u2019s delivering something of ourselves to the world, because, through enterprise, we hope we can make our world a better place.<\/p>\n What should a new\u00a0product launch\u00a0plan include?<\/p>\n A product launch\u00a0plan will include differing tasks depending on the type of company, type of product, and significance of the product or feature you\u2019re launching. \u00a0At its core, a product launch\u00a0plan for product management teams will always include development tasks, marketing tasks, and sales tasks (even if you don\u2019t have a sales team, you\u2019ll still have a category where things like pricing and selling platforms would live).<\/p>\n As you and your team collaborate on the product launch plans, you\u2019ll want to keep the focus on outcomes. \u00a0Instead of developing a list of deliverables and action items, start with the value proposition of your product and use it as a guiding light. \u00a0The reason you\u2019re launching this product is that it holds value, right? \u00a0Build your product launch roadmap and launch plans off of that value.<\/p>\n Whether you use a formal positioning document, something home-grown, or even if it exists in the heads of the team, solidifying the messaging for your product is the first and most critical step of a product launch. \u00a0If your value proposition doesn\u2019t exist on paper, now is the time to make that happen. \u00a0There are quite a few variations of positioning- type documents, but the fundamentals remain the same:<\/p>\n This document will be used throughout the entirety of the product launch. \u00a0Marketing will use it to create content, sales will use it to sell it, and you, the product manager, will use it to communicate to the organization and to customers. \u00a0In order for the messaging document to be effective, the content should tell a story. \u00a0Jobs-to-be-done is usually my favorite way of formulating this information.<\/p>\n Defining your key performance indicators (KPIs) upfront will keep your product launch plan outcome-driven. \u00a0This task presents the perfect opportunity to collaborate with a working group. \u00a0A working group is a team composed of representatives from different areas of an organization that meet regularly to solve problems and collaborate on opportunities for a product or products.<\/p>\n The working group will represent the interests in different areas of the business and therefore have different goals. \u00a0As a product manager, it\u2019s our job to source those interests, ensure that we have tools in place to capture the data, and report out on a regular basis. For the product launch\u00a0plan, I recommend creating a template of the data you\u2019re tracing. \u00a0This will make things easier after launch; you\u2019ll collect data and plug it into a report that\u2019s consumable for different audiences.<\/p>\n Quantitative data is paramount to track the success of a product, but you should also be considering qualitative data. \u00a0This will come in the form of customer feedback and testimonials. \u00a0Prior to launching a product, you should line up customers to regularly collect feedback from. \u00a0(Using the same customer(s) will allow you to track feedback without introducing more variables.) \u00a0This is also where you can work with marketing to set up a case study and customer testimonials (assuming the customer agrees to it). \u00a0Case studies can be a great marketing tactic because prospective customers see it as a \u201creview\u201d of your product.<\/p>\n The bottom line: be specific about your goals and your KPIs and use them to keep your plan outcome-focused.<\/p>\n Now is when the pen hits the paper when it comes to the product launch\u00a0plan. \u00a0This step is where the ideas, goals, and teamwork culminate into a set of action items and deliverables that define the product launch\u00a0plan. \u00a0This is another step you\u2019ll collaborate closely with your working group because they will be assigned tasks and be held accountable to complete them.<\/p>\n To devise the list itself, I use an exercise similar to story-mapping. \u00a0(I recognize this is difficult to do in COVID life or if you\u2019re a remote team, but there are a few great tools to facilitate the exercise.) \u00a0Grab a bunch of post-its and markers and have everyone in the room write down tasks. \u00a0Get the post-its up on the wall, group them by type of task, then discuss. \u00a0Each member of the team will bring a different set of skills and expertise to the table, so lean on each other to develop the list. \u00a0Ultimately you\u2019ll walk out of the room with a solid list of tasks. \u00a0Then, you can compile everything and create a formal launch task list. \u00a0Think of these tasks as the small steps that lead to the giant leap.<\/p>\n This is similar to a successful list I\u2019ve used in the past:<\/p>\n Product<\/strong><\/p>\n Development<\/strong><\/p>\n Marketing<\/strong><\/p>\n The bulk of the product launch list will consist of marketing deliverables because, well, marketing is how you let the world know about you. Here\u2019s what I\u2019ve used in a B2B, SaaS setting:<\/p>\n Sales<\/strong><\/p>\n Here\u2019s where a product launch task \u00a0list will start to differ depending on your product and company<\/p>\n Operations<\/strong><\/p>\n Customer Success<\/strong><\/p>\n Once you\u2019ve worked as a team to finalize this product launch checklist, it\u2019s time to assign specific people to each deliverable and do your best to define target completion dates.<\/p>\n Now you\u2019ve reached the execution part of your product launch\u00a0plan. \u00a0Meet with your working group regularly and report on the status of deliverables. \u00a0Your launching plan isn\u2019t written in stone so if you find it\u2019s not working, shift things around. \u00a0Maybe you missed something in the initial plan or maybe something you thought would work actually won\u2019t. \u00a0Be flexible and work together toward the goal line.<\/p>\n Now is also a great time to communicate the plan to the rest of the organization. \u00a0Everyone will likely be curious to know what\u2019s happening and when. \u00a0Ideally, you\u2019re keeping everyone in the loop all along since transparency and teamwork are parts of a successful company. \u00a0But, in the off chance that you aren\u2019t in that type of environment, now\u2019s the time to let everyone in on the plan.<\/p>\n The day has finally arrived! \u00a0You\u2019ve hit the magic button and the product is now launched and into the atmosphere. \u00a0So\u2026 now what? \u00a0Assuming things are running smoothly, you should be monitoring your KPIs as they come in. \u00a0If you\u2019re not able to do that (or if watching logins tick up isn\u2019t your idea of a good time), see if you can listen in on some sales or customer success calls. \u00a0Let Houston–I mean, customer support know that you\u2019d like to be notified of any communication from customers on issues or feedback.<\/p>\n Most importantly, celebrate! \u00a0The teams have put in a lot of work to get to this point and that\u2019s worth some high-fives. \u00a0When the time is right (and when it is safe to do so) try to get out of the office and celebrate. \u00a0Sometimes we move so quickly and we\u2019re too focused on the next thing that we forget to slow down and appreciate what we\u2019ve accomplished. \u00a0Stop, take that breath, and celebrate.<\/p>\n Be sure you\u2019re consistently measuring your KPIs post-launch. \u00a0If things aren\u2019t looking as you expected, reassess and develop a plan. \u00a0Maybe there\u2019s a key marketing tactic you left out or the price isn\u2019t right. \u00a0Always be measuring and always be analyzing.<\/p>\n There are a number of different variables that can change the makeup of a product launch plan, but the structure and steps for a successful product launch plan will transcend different companies, products, and teams. \u00a0Collaborating with your working group and being intentional with your product launch strategy are the fundamentals of a successful product launch. \u00a0Tell the story of your product, communicate it to your market, and celebrate your wins.<\/p>\n","protected":false},"excerpt":{"rendered":" We\u2019ve all seen successful new product launches\u2014and product launches that don\u2019t quite hit the mark. What’s the difference between a successful product launch and a launch plan that fizzles? I\u2019ve considered this question time and time again throughout my career. I\u2019d like to share what I\u2019ve learned, to help you develop your own launch plan […]<\/p>\n","protected":false},"author":18,"featured_media":17564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[372],"tags":[],"yoast_head":"\n
\n\u201cProduct launch\u201d can seem like an omnipresent term in many organizations. The ubiquity and repetition of the word can sink its semantics and make it feel blas\u00e9. It falls into the buzzword trap, blending into the background noise of our day-to-day. But what does the phrase really mean?<\/p>\n
\nWhat is a product launch\u00a0plan?<\/h2>\n
\nWhat is the purpose of a product launch?<\/h2>\n
\n4 steps to perfect product launch planning<\/h2>\n
1 – Get your Messaging On-Point<\/span><\/h3>\n
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2 – Define your Goals\/Key Performance Indicators<\/span><\/h3>\n
3 – Document Plan and Assign Tasks<\/span><\/h3>\n
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4 – Communicate and Collaborate<\/span><\/h3>\n
4…3…2…1\u2026 Blast Off!<\/h3>\n
\nKey takeaways about product launch\u00a0plans<\/h2>\n