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Fueling Your Product Launch

Posted On: October 5, 2017

A product launch can either sizzle or fizzle. If you’ve had a launch go off course and land short of your goals, then you know how critical every step of the planning and management process is to make your next launch take off. The team at Docherty Incentives & Meetings is here to help you ensure product launch success. 

Top 10 Aspects of a Successful Product Launch

Managing a product launch for your company is a big responsibility and can set your company’s tone — and impact the bottom line — for years to come. Sharing new products is a high-stakes endeavor for any company. In fact, according to Forbes, an average of 40 percent of all product launches fail. The team at Docherty Incentives & Meetings has more than 30 years of experience helping companies manage product launch success with creative planning and implementation.

To help you get started, here’s a top 10 list of key aspects of product launches:

  1. Work From the Inside, Out: Start your product launch by making sure every department in your company is ready. From product development to beta testing to project management, launching a successful product requires everyone involved in the launch to move in sync.
  2. Understand Your Audience: Whether your product is for a niche market or the global community, knowing your audience and how to communicate with them is key to your success. At Docherty, we’ve worked with clients across an array of diverse industries and can help cater the marketing to your specific audience.
  3. Define Your Goals: Are you hoping to attract new investors or build customer loyalty? Defining and prioritizing your goals first can help you roll out your product launch with purpose and will be our focal point for event details.
  4. Backwards Plan: Once you’ve defined your goals, think backwards and consider all the steps needed to reach that goal. Taking this approach will also help you build in enough time for all players to get on board setting up your company for product launch success.
  5. Build Momentum: Build buzz about your product launch from several weeks to a couple of months before the launch date. Market mindfully: starting with your current customers and possible influencers and equipping them with everything they need to create interest around your new product.
  6. Choose Carefully: Pick a launch date when your company can be in the spotlight. Check to make sure there’s no overlap with business behemoths like Apple. Choose a location for your product launch that’s meaningful and tells your audience something about your company and your product. If your company has created a new coffee-related product, for example, why not get Docherty Incentives & Meetings to plan a meeting in Brazil, which is the world’s largest coffee producer?
  7. Think Outside the Box: To achieve product launch success with event and meeting planning, think creatively. Instead of relying on tired ways to launch a product consider how to tap into ideas like simultaneous webcasts, a podcast series, Instagram takeover days or more to get in touch with a worldwide audience. Using this type of visual media may make it easier and quicker for people to learn more about your product and your company.
  8. Share the Responsibility: Delegate functions so you’re not the only one who knows the plan for the product launch. To ensure product launch success with event and meeting planning, share the responsibility. Working with the team at Docherty Incentives & Meetings can help you focus on product-specific details since we’ll take care of just about everything else.
  9. Be Prepared and Flexible: Having a detailed plan in place is important, but so is being flexible. Know your product, your objectives and your company well enough that you can pivot from your plan if necessary.
  10. Celebrate!: Launching a product is the culmination of months — or years — of work, so remember to celebrate with your colleagues. To ensure product launch success with event and meeting planning, rely on Docherty Incentives & Meetings to help you with everything from the early planning stages to toasting your success during your product launch.

Keeping these objectives in mind while planning and managing a product launch is critical, but so is asking for help. Juggling the responsibilities of a product launch can be overwhelming. Working with Docherty Incentives & Meetings gives you the freedom to stay focused on managing your company’s internal processes and demands as you prepare for the product launch.

The team at Docherty has more than 30 years of experience working with big companies with budgets to match, small companies with limited budgets and everyone in between. We’re excited to help your next product launch soar, so why not call us today?