How to launch a new product
- Pick an introduction date. This is the date that the outside world learns
of the new product, either through a PR placement, an ad, or at a trade show.
All promotional activities should be targeted at this date.
- Plan an integrated public relations, advertising, and marketing
communications program at least three months before the introduction date. You
should decide:
- What the PR strategy is: how the product will be introduced, what
materials will be in the introduction press kit, whether or not you will give a
key publication an exclusive on the announcement.
- What the advertising strategy is: Will ads run on the introduction date,
or in the next issue?
- What the marketing communications strategy is: What collateral the sales
channel will need, when will they have them, how the channel will be prepared
for the announcement.
- Get the launch plan and budgets approved. Have upper management buy into
the plans. If you are using outside services, select the suppliers, settle on
costs, and cut purchase orders.
- Pick the product's single most important feature or benefit, and make that
the keystone of the promotion campaign. Back it up with two or three
subsidiary feature/benefits.
- Have weekly (at least) meetings with the entire launch team. Mondays are
best because you can set targets for the week. Brief your managers after the
meeting. Set weekly milestones, and make sure you hit them. (No matter how well
executed your plan is, the last three weeks will always be a scramble.)
- Make all your vendors a part of the launch team. When appropriate, have
them attend the weekly meetings. The contributions that, say, your printer,
photographer, or trade show booth fabricator can make are invaluable. All can
help you avoid costly overtime and rush charges as the introduction date nears.
- If the plan starts slipping, let your management know ASAP. Your managers
can get you the resources you need to get back on schedule.
