There is no time like the present and yet NOW may be a bad time to launch your new product despite to your desire to get it out there and earning its keep. The ‘as soon as’ approach may suit you but doing a product launch is not about you. It’s about your target audience and in this case when they will be most likely to be in a buying mood.
Weight loss products and gym subscriptions get snapped up on the back of New Year’s resolutions and may also be popular in the spring when the sun breaks through the glum northern hemisphere winter clouds to turn people’s minds to summer holidays and getting in shape to look great on the beach.
Timing is certainly important so rushing to market may be the worst thing you can do in terms of making a powerful impact on your bottom line
Then there is your track record
To take a perfect example, Apple have set annual launch periods. They have trained their market to expect a new Iphone, IMac or MacBook Pro at specific times of year. They have set “launch campaign” periods so their fans know when to expect the latest and greatest new shiny object to appear. This is good for Apple and it helps their fans make buying decisions accordingly
This is the exception rather than the rule
If you are moving into a new niche, it is far better to go with the flow and launch when your target audience is most receptive. Each market, has its preferred timing. Weight loss in the New Year. Wedding favors in the spring. Bizops in the Fall. And fashion according to the season. Everyone knows that these are coming so tend to plan buying around them.
It’s about the Zeitgeist too
Doing a product launch for a gas guzzling car in this day age would have to be targeted at a very specific audience. They may be well off, global warming skeptics who are just a little bit selfish and determined to have one last fling before their dotage. I’m guessing here but it would seem logical to start with that target market because it is not in tune with the zeitgeist.
So, what about your new product or service ? Is it in tune with the age in which we live? Better still has it taken a stale old solution to a longstanding problem and by a process of innovation come up with a cutting edge way of solving it in half the time. Early adopters are always open to innovative ways to do things. Get them on board and the whole market will follow in their footsteps.
So the zeitgeist and the timing of your product launch exert a significant influence on your success.
#1. Everything has to be in Place – When planning a product launch, be certain to structure your pre-launch effectively and set measurable goals. Have a product champion who mirrors your target audience as they are or as they would wish to be after buying your product or service. This sends a powerful subliminal message and puts a face to your offer. People would far rather buy from someone they ‘know’, trust and like.
#2. Build Buzz and Excitement – People want to enjoy the buying experience. Doing a product launch involves a series of online events. The timing of these and the structure of each one is critical to your success. Video is the medium of choice but don’t be put off by that if you think you have a face for radio. Frankly, your market may find that more appealing because you are a lot like them. And remember ugly sells too, so don’t blow your budget on a ‘Stephen Spielberg’ to produce them. Develop a style that you are comfortable with.
#3.Maximize Sales – The timing of a product launch, according to the business consulting firm NPD Solutions, can have a significant impact on sales. Launching a child-friendly product around the holidays, for example, can lead to a large influx of sales at launch time. Similarly, launching a high-demand product just before an industry trade show or during a period of slumping stock prices can lead to a boost in business.
That’s why ‘Now may be a bad time’ when it comes to doing your launch. You have to keep your avatar in mind at all times. If he or she thinks its a bad time or that you are not fully locked into the spirit of the age as they see it, then it’s best to listen to their good advice and wait until they are ready.
In the meantime… You may be wondering how much hiring a product launch manager will cost and the quick answer is not as much as you might expect. Our aim is to structure a win-win sort of a deal with clients. We get paid when you get paid. That is we work on a percentage of the ‘pre-return’s gross’ revenue that your product launch makes. Naturally, you have to pay a fee to get on our calendar. We can only take on 2 or 3 clients per year so our time is valuable and we must know what our schedule is well in advance. It would be unfair on our other clients if we didn’t insist on this. Find out more by booking a free consultation with me now