Product Launch Strategy: Pre-Launch Checklist

Want to launch your product successfully? You need a solid pre-launch checklist. Here's why it matters and what to include:

• 85-95% of new products fail within two years

• A good pre-launch strategy can boost sales and awareness

• It helps catch problems before they blow up

Your pre-launch checklist should cover:

1. Set clear launch goals

2. Check product readiness

3. Prepare for market entry

4. Get your team and materials ready

5. Run final pre-launch tests

Key tips:

• Set SMART goals (Specific, Measurable, Attainable, Relevant, Time-bound)

• Test your product thoroughly and get user feedback

• Study competitors and confirm your target buyers

• Train your sales and support teams

• Double-check all marketing materials

• Test all systems and have backup plans

Related video from YouTube

Set Clear Launch Goals

Setting clear goals for your product launch is key. It's not just about having a great product - it's about knowing what you want to achieve when you introduce it to the market. Let's look at how to set goals that will guide your strategy and help you measure success.

Choose Your Success Metrics

Picking the right metrics is like choosing a compass for your launch journey. These numbers will show if you're on track or need to change course.

Focus on three main areas:

1. Awareness: How many people know about your product?

2. Engagement: Are people interacting with your product or brand?

3. Conversion/Revenue: Are you making sales or gaining users?

For example, when Amplitude launched their user portfolio feature, they set specific engagement metrics:

• 10% of daily active users visiting their own profile page

• Percentage of users visiting others' profiles

• Hover engagement rates

They chose these metrics to match their product goals and aimed for 50% higher usage than their existing features.

Good goals are SMART: Specific, Measurable, Attainable, Relevant, and Time-bound. Here's an example:

This goal is specific (100 widgets), measurable (sales and revenue), time-bound (two months), and likely attainable and relevant to the business.

Create Your Timeline and Budget

Now that you've set your goals, it's time to plan how you'll reach them. Your timeline and budget are your roadmap and fuel for the launch journey.

Timeline: Work backward from your launch date. Break down your launch into phases:

1. Pre-launch prep (4-6 weeks)

2. Launch day activities

3. Post-launch follow-up (4-6 weeks)

Assign tasks and deadlines to each phase. If you want press coverage, plan to send out your press release at least a week before launch.

Budget: Divide your resources wisely. Think about:

• Marketing and advertising

• PR activities

• Event costs (if you're hosting a launch event)

• Extra staff or overtime

• A buffer for surprises (usually 10-15% of total budget)

Here's a simple budget example:

By setting clear goals and planning your timeline and budget, you're building a strong base for your product launch. As Alex Girard, Product Marketing Manager at HubSpot, says:

With your goals, metrics, timeline, and budget ready, you're set for the next steps in your pre-launch checklist. Stay focused, be ready to adapt, and keep your eyes on your targets. Your launch success depends on it!

Check Product Readiness

Before your product hits the market, you need to make sure it's ready for prime time. Let's look at the key areas to focus on:

Run Internal Tests

First up: put your product through its paces in-house. This isn't just about squashing bugs - it's about making sure your product delivers on its promises.

Set up a tough testing process that covers all bases:

• Does everything work as it should?

• Can it handle the expected load?

• Is it easy to use?

Thorough testing now can save you from headaches later. As Leah Busque, an engineer turned entrepreneur, puts it:

Get User Feedback

Internal testing is great, but nothing beats real-world feedback from your target customers. This can uncover insights you might have missed and help you fine-tune your product before launch.

Here's how to make the most of user feedback:

1. Pick a diverse group of testers that represent your target market.

2. Give clear instructions on what to test and how to give feedback.

3. Be ready for criticism and use it to make your product better.

Marcus Milione, Owner of Minted New York, shares a great example:

This shows how user input can help you refine your product and make it more appealing to your audience.

Meet Quality and Legal Standards

Finally, make sure your product meets all necessary quality and legal standards. This step is key for reducing risks and ensuring a smooth launch.

Focus on:

• Quality checks: Set clear quality criteria and make sure your product consistently meets them.

• Legal compliance: Meet all relevant regulations and standards for your industry.

• Intellectual property: Protect your own IP and don't step on anyone else's toes.

Practical Law reminds us:

Don't forget about product labeling laws, especially if you're in food, consumer products, or medical devices. There's no wiggle room here - you've got to comply.

Prepare for Market Entry

Getting ready to launch your product? You need a solid plan. Let's break down the key steps to position your product in the market.

Study Your Competitors

Before you jump in, take a good look at who you're up against. This helps you find your edge and carve out your spot in the market.

First, identify your competitors:

• Direct competitors: They offer similar products

• Indirect competitors: They solve the same problem, but differently

For example, if you're launching a new project management tool, Asana and Trello might be direct competitors. Email and spreadsheets? They're indirect competitors.

Now, dig into their:

• Product features

• Pricing

• Marketing tactics

• Customer feedback

This info helps you spot market gaps. Take Notion, for instance. They saw a gap between regular document editors and project management tools. So, they positioned themselves as a flexible, all-in-one solution.

Here's a quick way to visualize how you stack up:

This analysis will shape your unique selling proposition (USP) and help you stand out.

Confirm Target Buyers and Pricing

Now that you know the competition, it's time to double-check who you're selling to and how much you're charging.

Refine Your Customer Profile:

Don't just stick to basic demographics. Dig deep into what your potential customers need, what bugs them, and how they behave. Try surveys, interviews, or focus groups to get the scoop.

Mailchimp did this when they were gearing up to launch their all-in-one marketing platform. They found out many of their small business customers had a hard time creating consistent marketing campaigns across different channels. This led them to focus on integrating various marketing tools into one easy-to-use platform.

Validate Your Pricing:

Your pricing can make or break your launch. Here are some strategies to consider:

1. Value-based pricing: Price based on what customers think it's worth, not just your costs.

2. Competitive pricing: Set your price in relation to competitors, but don't forget what makes you unique.

3. Tiered pricing: Offer different service levels for different customer groups.

Want to test your pricing? Try offering early access to a small group at different price points and see how they react.

Get Your Team and Materials Ready

Let's talk about prepping your team and polishing your marketing materials for your product launch.

Train Your Teams

Your sales and support teams are the face of your new product. They need to know it like the back of their hand.

Sales Team Training

First, figure out what your sales team already knows. Then, fill in the gaps with a solid training plan. Cover the basics:

• What the product does and why it's awesome

• Who it's for and what problems it solves

• How it stacks up against the competition

• Pricing details

• How to handle tough questions

Highspot, a sales platform, says their customers see some pretty cool results when they use Sales Plays for launches:

Those numbers show why good training matters.

Support Team Prep

Your support team needs to hit the ground running. Give them:

• Deep dive into the product

• A knowledge base they can use

• Guides for fixing common issues

• Answers to questions they'll hear a lot

Tools like ClickUp can make support smoother. Zel Crampton, CEO of Diggs, says:

Check Marketing Materials

Your marketing stuff is often the first thing people see about your new product. Make sure it's spot-on.

Content Audit

Look over everything:

• Website stuff

• Social media posts

• Emails you're sending out

• Press releases

• Product brochures

Check that:

• Product info is right

• Your message is the same everywhere

• You're following brand rules

• Legal stuff is in order

Brian Heller, a tech lawyer, suggests:

Proofreading and Fact-Checking

Keep an eye out for:

• Spelling and grammar oops

• Facts that aren't quite right

• Where your data comes from

Everything you say in your marketing needs to be true. No fudging the facts. Have proof ready for any claims you make.

Final Pre-Launch Steps

You're almost there. Let's go through the last checks to make sure your product launch goes off without a hitch.

Test All Systems and Backup Plans

Now's the time to make sure everything works together smoothly. Run a full system test to check every point where a customer might interact with your product.

Here's what to test:

• Website

• Payment processing

• Customer support

• Data backup and recovery

• Server capacity

Don't forget about preparing for the unexpected. As the ClickUp team says:

And speaking of backups, take your data protection seriously. In 2022, data breaches cost companies an average of $4.35 million. That's not a bill you want right after launch.

Test your backup procedures thoroughly. Make sure they work and meet your performance promises. If you say 99.9% uptime, your systems should back that up.

Get Final Approvals

Before you launch, make sure you have all the necessary green lights. This isn't just about ticking boxes - it's about making sure everyone's on the same page and ready to go.

Get sign-offs from:

• Product development team

• Marketing department

• Legal team

• Finance department

• Executive leadership

But approvals aren't just signatures. Set up ways to track how well your launch is doing. Figure out what success looks like for you and make sure you can measure it from day one.

Michael DiSalvo, SVP of Account Management, puts it well:

This shows how important it is to prepare and involve everyone throughout the whole launch process.

Lastly, be ready for both good and bad reactions. Have answers ready for easy and tough questions. This way, you'll be prepared to handle whatever comes your way in those crucial first days after launch.

Conclusion: Why Your Pre-Launch Checklist Matters

A solid pre-launch checklist is your secret weapon for a successful product launch. It's not just about ticking boxes; it's about setting yourself up to win in a market where most products flop.

The stakes? They're sky-high. Up to 95% of new products fail. But your pre-launch checklist? It's your battle plan to beat those odds.

Here's why it's a game-changer:

1. It's Your Safety Net

A thorough checklist catches problems before they blow up. As Printwand puts it:

With a checklist, you're less likely to rush a half-baked product to market or miss crucial marketing steps.

2. It Builds Buzz and Trust

Pre-launch isn't just prep work; it's relationship-building with future customers. Take Healthish, for example. They sent free samples of their hydration-tracking water bottle to niche influencers. Result? Tons of online buzz before the product even hit the shelves.

3. It's Your Crystal Ball

Pre-launch is prime time for feedback. The DRG, a market research firm, shares a real-world example:

This kind of testing can uncover issues you never saw coming, letting you fix them before launch day.

4. It Sets You Up for a Grand Slam

A killer pre-launch strategy can lead to jaw-dropping results. Just look at Xion CyberX eBike. Their pre-launch efforts scored over 23,000 email subscribers, which turned into more than $800,000 in sales when they launched. That's the power of building hype and a strong customer base before your product even exists.

5. It Keeps You Nimble

Your pre-launch checklist should include steps for staying on top of market shifts. As MDG Solutions wisely notes:

Your checklist should have backup plans and room to pivot based on early feedback and market response.

FAQs

What is a pre-launch marketing strategy?

A pre-launch marketing strategy is all about building buzz and awareness for your product or service before it hits the market. It's not about making sales right away. Instead, it's about setting the stage for a killer launch.

Here's how Cade Jones, Digital Marketing Manager at Element Three, puts it:

Why bother with pre-launch marketing? It lets you:

1. Try out different marketing messages and channels

2. Get feedback from potential customers

3. Build a list of interested leads

Take Cradlewise, for example. They're the folks behind that AI-powered smart crib. They used pre-launch marketing to tackle a problem every new parent knows all too well: sleep deprivation. This smart move got them noticed by TIME magazine before their product was even widely available.

Here's a sobering stat: about 30,000 new products hit the market each year, but 95% of them flop. Often, it's because of a weak launch. A solid pre-launch strategy can help you beat those odds.

Want to nail your pre-launch? Here's what to do:

• Kick things off 3-5 months before launch day

• Talk to potential customers through surveys and social media

• Set up a landing page that grabs attention and collects leads

• Experiment with different marketing tactics to see what clicks with your audience