What Is A Product Launch Strategy?

There have been several high profile product launches kicking off the summer this year. It seems like all the heavy hitters or “gurus” are promoting their products as if there were no tomorrow.

If you are not careful, it can be like getting shiny object syndrome. You know this as getting distracted with all the new thoughts, ideas and products and therefore not focusing long enough on the things you need to in order to complete anything.

Were you aware of any of these product launches? If so, did you purchase or just get distracted?

What is a Product Launch?

A product launch is a strategy or orchestrated introduction of a new product (or version of a product) to the market and the events surrounding making the product available for purchase for the first time.

In the internet marketing space, the product can be in several different formats. For example, some common formats would be online information (e.g. module training or e-learning), live and pre-recorded video webinars, coaching sessions and live events or conferences.

Some Product Launch Elements

When you are developing a product launch plan some of the common activities would include determining:

the sales funnel setup (e.g. capture page and video series) – what will your audience see before they actually purchase? How is your message delivered?
an advertising campaign (e.g. pay-per-click with search engines and social media exposure) – what is your budget for advertising on these platforms?
a marketing campaign (e.g. joint venture partners and email list subscribers and sales webinars) – what incentives or bonuses will you incorporate to get your audience enthusiastic about your launch?

This list is not all inclusive and is not in any particular order. Marketer’s tend to customize their product launch strategy based on how the product’s benefits best solve their audiences’ problem.

In terms of getting some training for your upcoming product launch, most of the internet marketing industry gravitates towards Jeff Walker and his best selling book Launch. In the book, he highlights the secrets of his product launch formula and how it has generated him over $400M according to Forbes.com.

Here’s to you having a successful product launch. It is not easy but well worth the effort.

If you got some value out of this post on Product Launches please share (e.g. Facebook, Twitter, Google+) and comment.