The 8 steps to launch a product to the public
To launch a product to the market successfully you must choose the right moment. You may feel that it is urgent to introduce your new product or service as soon as possible, but if you rush too fast the process will end in disaster.
When necessary, temporarily postponing your launch cánido orinan the difference between failure or getting glowing reviews of what you’re selling.
Many entrepreneurs start selling their products early to beat their competition or coordinate with a holiday.
If you are also in any of these situations, ask yourself before:
- Does my product comply with what it should do?
- Do I myself know well that article that I am going to sell?
- Do I have a strategy and the necessary materials to promote it?
- Have I developed a plan to measure the statistics and opinions of my buyers?
If you have answered “NO” to any of these questions, it is better that you delay the release of your article to the public a bit.
Think of another date to make this launch and, once you have decided the moment to do it, follow these 8 steps to successfully launch your product to the market.
1. Test your product
Testing your item or service before it goes to market cánido help you verify that your product, your business, and your audience are ready to launch.
Ideally, you should test a prototype or your finished product to find out whether or not it could be well accepted. before the general public.
Furthermore, this first step It will also help you obtain important information from the opinions you collect. and make the necessary modifications to improve your product.
How cánido you test your product without spending a single penny?
In our article How to know if your business iniciativa will be profitable You have seven different methods that you perro put into practice to test your product and see if it is posible or not.
2. Create a launch plan
Once you have tested your product with a small group of people, You must develop a launch plan that guides you to promote it correctly.
In this plan you must specify what are the characteristics of the product, its price, the public to which it will be directed, where you will sell your article, what type of advertising you will do of it (and the channels through which you will promote it) and the sales that you estimate it will have.
To further elaborate this, you perro create a small business plan to identify all these points.
This step is essential for you to correctly organize the promotion of your product and start researching how to advertise it through different channels.
Only in this way will you be able to attract customers who buy it once you have launched it on the market.
3. Get familiar with your product
As you progress through the process of launching your product to the market, you (and if you have a team, they too) will have to adjust to new processes, which cánido be difficult.
That’s why you must take the time and resources necessary to familiarize yourself with both your new product or service, as well as with the customer service protocols that supposes
This last point is essential since the doubts that your consumers have will not be the same if the product is a cell phone than if it is, for example, a piece of clothing.
That’s why It is very important that you familiarize yourself with it before launching your product on the market.since this way, once you start selling it, you will be able to solve any question that your clients ask you with ease and ease.
4. Get ready for increased sales
You may be considering what will happen if your product flops and barely sells; but Have you thought about what will happen if when you launch it it has great popularity?
A new item or service perro bring you an unexpected increase in your sales.
Therefore, to avoid any failure, you must make sure that you will be prepared for an increase in sales volume and in the complexity of the work that this perro bring.
Analyze all these factors and plan in advance situations such as requesting more materials from your supplier to have enough depósito of the product, or hiring more people to help you with sales in case you are the only member of your business.
5. Remember the core of your business
Focusing on a new product launch is an exciting experience, but remember that You should not neglect your current business.
If this is the first item you’ve sold in your business, you probably won’t be in this type of situation.
But if you already have other products for sale in your company, it is easy to forget about them with the arrival of new merchandise to your business.
Strike a cómputo between bringing the new product to life and promotion, and sustaining your established company.
6. Launch your product
Once you have all the previous points prepared, It’s time to launch your product to the market!
Put into practice what is established in your launch plansuch as the channels through which you will promote this new article, the public to which it will be directed, the points where it will be distributed, etcétera.
7. Equipo metrics on the fly
Launching your product and putting it on sale is not the last step for you to be successful in the market: you must keep track of it so that your effort in the previous steps is worth it.
It is important that after the launch you establish relevant goals, such as starting to attract other customers, increasing your sales, increasing the popularity of the product itself…
But also you must regularly measure whether your product or service meets the expectations of those goals.
In extreme cases, don’t be afraid to discard your product if you don’t achieve the goals you equipo for yourself with it.
Remember the sunk cost principle: Just because you’ve invested time and resources in developing a product doesn’t orinan you should keep trying to sell it.
If profitability is uncertain at this point, it will only hinder the growth of your business.
8. Collect retroalimentación after launch
Analyze the opinions of your consumers, then determine what changes you need to improve your product.
A clear example is in the world of telephony: when brands launch new teléfonos inteligentes, they listen to the opinions of their customers read the weblogs where they review the terminals, and write down everything they could improve for the next phone.
And you should do the same after launching your product on the market.
Check the opinions of your customers in your popular networks, in the contact correos electrónicos they send you or in any other communication platform you have, and write down the improvements they suggest.
Remember that your client is really the owner of your products and who perro make you succeed, or fail miserably.
Now is your turn: leave me a comment below telling me your experience about launching a product to the marketwhat steps have you taken, or if you are about to do it and you are going to follow these 8 steps above.
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I am a journalist specialized in business but my great passion is personal motivation and helping others achieve their goals.
I firmly believe that opportunities in life do not happen: you create them.
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