How to Launch your Product
This week i will focus on “Product Launch” and every facets of it.
Your product is nearing completion, beta testing is wrapping up, the product is looking in good shape and its time to turn attention towards bringing the product to market and making the best possible impression.
A well executed launch can mean the difference between success and failure for your product. If you do it in right it can give you substantial initial revenue momentum and set up your product up to beat its competitors.
Types of Launches –
- Soft Launch
- Minimal Launch
- Full Scale Launch
Soft Launch – Companies adopt this launch of their product isn’t fully ready yet and they want to deploy to a limited set of customers. Startups often do this because of lack of finance and marketing resources. Additionally this kind of launch provides company to reach customers hands quickly to get some quick feedback and iterate the product.
The demerit of soft launch is that more often they generate little or no revenue since it doesn’t have the momentum of a big push.
Minimal Launch – Minimal launch is generally considered when your resources and funding are limited. Generally products which adopt minimal launch process aren’t important for company strategy and overall success. Companies sometimes do fail to plan early enough and then have to scramble and do a minimal launch because they ran out of time.
Minimal launches can be very effective if you use resources wisely and it may provide revenues necessary to expand their marketing campaigns on an ongoing basis.
Full Scale Launch – A full scale launch is designed to maximize awareness, generate as many leads and sales as possible and let people/industry know about your company and product. Full Scale is characterized by big push and backing by marketing team. A full scale launch gives your product the best chance of success, though most companies are afraid to spend the money on this kind of launch.
-Hitesh, vcBytes.com
