Product Launch Pitfalls: 6 Things To Avoid At All Costs
Are you getting ready to launch a brand-new product? Awesome. This is a very exciting time for both you and your company. The most important thing you can do now is to ensure that the launch goes smoothly. All that hard work you’ve put into the design aspects will go to waste if you don’t follow the right strategy. There are a few things that you must do, and a few things that you mustn’t do. We’re going to focus on the latter.
Run Into Serious Legal Issues
Before this product gets released to the public, you want to ensure that no legal issues will come back to bite you. This can include things like copyrighted terms and duplicate product names. It’s worth watching out for loose meanings and definitions, too. The FDA recently wanted to find out more about Hampton Creek due to this situation. In their case, a misunderstanding was easily resolved. In other cases, isn’t always so simple.
Fail To Bolster Your Marketing Techniques
A big product launch means going full steam ahead with your marketing plans. This shouldn’t just be limited to a few Facebook posts, though. You need to find ways of grabbing the attention of as many people as possible. One thing you can do is find social media stars with large follower bases. Send them your product for free, and get them to do a review that gets into the public eye. Alternatively, do something crazy and try and create a viral video!
Target The Wrong Audience
You need to be careful while you’re marketing, of course. If you target the wrong audience, you’re not going to generate the sales you’re hoping for. Paid advertising can almost always be tailored online. Look at Facebook ads and local SEO for inspiration.
Fail To Test It
This one’s a no-brainer! If you fail to test your product, you don’t know how it’s going to perform. It’s imperative that you extensively test it in as many areas and situations as possible. Otherwise, your product launch will soon turn into a massive failure. The only customer engagement you’ll have is a slew of angry complainers.
Price Yourself Out The Market
This is a brand-new product, and consumers are going to be wary. Unless you’ve established your company with multiple innovative products in the past, you need to be careful. Ideally, it’s best to present a too-good-to-be-true offer in the initial stages. Entice customers to try your new product, and hopefully, they’ll like it so much that they tell their friends about it. In time, you can slowly reduce the offers as you gain more success.
Expecting Instant Success
It’s very, very rare that you experience massive instant success with a product launch. Think about the mobile app market. Aside from Pokemon Go, how many other apps can you think of that went viral? It’s simply unrealistic to expect the whole world to talk about your product. Instead, focus on generating as many sales as possible. Hopefully, this will turn into greater levels of success in the future.