The Impact of a Product Launch
When it comes to successful product launches, many would consider Apple the undisputed champ. The company is famous for its keynote presentations where they unveil their new products for the first time. After only four days, the newly released iPhone X sold 25% more units than the previous record holder, the iPhone 6. This made the iPhone X Apple's most successful single product launch to date.
Some may say that Apple is successful because they create innovative products, however, a great idea doesn't necessarily grant you success. A poorly planned product launch can be detrimental to life-changing products or ideas. Dating back to the 1800's, a Hungarian obstetrician named Ignaz Semmelweis began urging doctors to wash their hands and sanitize their tools before performing medical procedures. This article published by Co. Design explains that Semmelweis' findings were poorly presented and as a result were not taken seriously. As a result, washing hands and medical instruments were not implemented in hospitals until decades later.
Whether you have a revolutionary medical concept, a niche tech app, or an innovative vacuum cleaner, planning a successful product launch can be a daunting task. To help you out, we have compiled our Top 5 Useful Tips to ensure you success in your launch!
1.) Know Your Target Market
First and foremost, to have a successful launch you need to know your target market. It is important to know how they get information, what their income level is, and what their interests are. Your product launch should be catered to your target market; high school students with minimal incomes are going to respond differently than middle-aged plastic surgeons. This Forbes article is full of tips on identifying your target market.
2.) Have a Soft Launch
A soft launch is a great way to get your product and your name out to your target market with less pressure. Reach out to bloggers, social media influencers, or other influential individuals in your demographic and invite them to test your product a bit earlier than everyone else. This will create a buzz within the community will also allow you to iron out any issues before your full launch takes place. It's also a great way to receive feedback from individuals in your target market.
3.) Get Social
Before your product launch, it is essential that your website is up and running and you have social media pages for your product. There is nothing worse than seeing a cool product when you are out and having your search at home reach a dead end because the company's online presence is non-existent. Having your social media and website in place allows you to connect with your consumers and see feedback surrounding your product. Starting a hashtag is another great way to interact with your consumers.
Related: How Integrated Marketing Can Create Unique Consumer Experiences
4.) Slow and Steady Wins the Launch
We know you want to get your product out into the world, but if its not completely ready, it's best to not launch it yet. It's better to be 100% confident in your product and have it launch a bit later than initially planned, rather than be less confident in your product but have your launch sooner. Making sure all of the odds and ends are perfect will lead to success.
5.) Create an Experience
Making your product launch interactive is a great way for consumers to have a memorable experience while exposing them to your brand or product at the same time. If you create an experience that is fun and unique, consumers are more likely to positively receive your product. Creating a unique branded experience with a TapSnap photo booth is an easy, cost effective, and most importantly, a fun and memorable way for you to get more brand exposure. Your product and brand can be included in the photo digitally, animated gifs and overlays can be added, and the final result can easily and instantly be shared on social media giving brands even more exposure to their target demographic!
Check out How It Works for more information on how TapSnap can help make your product launch fun, memorable, and successful!