A Guide to Creating a Successful Product Launch

Your product development team has spent a ton of time and energy developing a new product. 

Now they’re passing the baton to you (the marketing team) to figure out how to let customers know about the new product. 

How do you ensure you create a successful product launch so your brand isn’t a part of the 75 percent of product launches that fail? Let’s find out. 

Step 1: Enter New Product Data into PIM Solution

We all know that an organized living space can directly impact our productivity levels. It’s the same with organized product information. 

As a result of a new product launch, your team has likely put together a ton of new product data that needs to be effectively organized.

That place is a product information management (PIM) solution. 

PIM solutions create a single source of truth for manufacturers’ product data. And when connected to other product experience management solutions like a digital asset management  (DAM) solution or a digital experience platform (DXP), it also makes the lives of marketers easier. 

PIMs connected to a DXP  enable teams to enter product data at once and use it across numerous digital product experiences (experiences you’ll want to build to ensure a successful product launch). 

Plus if the product data evolves with the product (which it likely will), you won’t have to worry about updating the product data manually. Any changes you make in a PIM solution automatically are reflected in the digital experience using the data. 

Make entering your new product data into a PIM solution a top priority. You’ll be thanking yourself down the road when your product launch strategy goes off without a hitch.

Step 2: Create Engaging Product Content

Customers will inevitably need marketing materials to read about this new product.  Create engaging product content before you promote your new product in a digital experience platform so you can easily reuse these resources in a wide array of digital product experiences. 

Here are some of our tips for what to include in several product resources: 

• Product Catalogs - Product catalogs serve as visual gateways to your product's world. These documents are more than just a list of features and specifications; they're an opportunity to tell a story. Include clean product images, compelling product descriptions, and other important product information that highlights how your product can solve your customers’ biggest challenges. 

• User Guides - A well-designed user guide is a valuable asset that can reduce frustration for customers when getting started with their new product. Break down complex processes into step-by-step instructions, supported by them with diagrams and images, and FAQs.  

• Manuals  - For products that require maintenance, assembly, or repairs, comprehensive manuals are important resources. These documents should go beyond the basic "how-to" and ensure users have a deeper understanding of their products and how to troubleshoot them if something goes wrong. 

Pro-tip for content creation: Personalize your content based on user preferences, demographics, and buying behaviors. This level of personalization can enhance the customer experience and foster a stronger connection between customers and your brand.

Step 3: Promote Your Product 

Your team will need to come up with a detailed and synchronized approach to how you’ll promote your new product. 

You’ll want to organize what channels you’ll use when promoting your product. The marketing rule of seven means it takes about seven touches for people to finally start listening. You may think it’s overkill for how many channels you should be promoting your new product on, but less is not more in this case. 

Best Practices for Promotional Channels

Here’s what we recommend you include in your promotional strategy. 

Trade Shows

If your brand utilizes trade shows for brand awareness or lead generation,  then you’ll want to incorporate the launch of your new product with an upcoming trade show. Your sales team can book meetings with attendees after viewing a demonstration of the product. You can create a digital trade show experience with the information of the new product attendees can take home with them to make a purchase decision down the road or share with colleagues or family that weren’t able to attend. 

In-store Promotion

If you're a manufacturer that sells its products in the aisle, there are tons of ways you can generate buzz in-store or online. You can create a digital in-aisle experience that customers can scan to learn more about the product, get a list of features or dimensions, and get answers to their frequently asked questions. Similarly, you can create a shelf or floor talker with a QR code that helps generate buzz for this new product too. 

Email 

Email is a tried and true method for alerting customers of your new product. Though the open rates pale in comparison to text, we’re still constantly on our email and will engage with email content if it’s personalized enough. Try sending out a digital landing page link within your emails that users can click on to learn more about the product. 

Text Messaging

Texting your customers is one of the best ways you can alert your current customer base and subscribers of new products. You can alert customers of a new product launch if it’s relevant for them. You can also help sweeten the deal by providing a coupon code if they act now and purchase. 

Start Your Successful Product Launch Strategy with Lumavate

Ready to launch your new product? Schedule a demo with one of our product experts and see how easy it is to use our PIM solution and start creating digital product launch experiences.