How to Plan a New Product Launch

I used to think you could just list something online and it would sell. Boy was I wrong! A product launch takes time and research but if done right, will drive some massive sales!

Here are four steps you need to take to launch a product.

1.       Product Design/Research

What do your customers want to buy? Think of your Target Market. Let’s pretend you want to start selling t-shirts. What will your t-shirt design be or what will your t-shirt say? Come up with a few ideas and check online to make sure it’s not similar to what someone else is selling. If it’s a common phrase that you want to put on a t-shirt, I would add something to the t-shirt to make it stand out and make it more original.

2.       Comparing Suppliers

Now that you have your t-shirt design, where are you going to purchase your t-shirts? You need to find a wholesaler and a screen printer, or you need to find a company that does both. I like to come up with a bunch of different suppliers I can order from and create a spreadsheet. Here is an example of a spreadsheet I would create to compare suppliers, I like all of my information together!

By comparing all of these categories side by side in an Excel doc it will be easy to see who you should use to supply your product. I rely heavily on customer reviews when I am researching companies I have never used before. In the notes section I typically summarize the issues I saw in the customer reviews. If I’m looking for a supplier who will work with me and answer all of my questions, I probably don’t want to choose a supplier whose customers’ biggest complaint is their customer service. You also probably don’t want to go with a supplier whose product has poor quality.

3.       Advertising Plan

How will you advertise this new product? Sticking with the t-shirt example, to advertise new t-shirts on a low budget I would gather a small group of friends to take photos. I would “pay” them by letting them keep the t-shirts and maybe supplying some beer for the photo shoot! I would order t-shirts to their size and order a couple extras of anyone you may know who has a following on Instagram/Facebook/Twitter or for anyone who has a large social group that you think may be interested in your t-shirts. Send them the shirt with a short note explaining your t-shirt company mission and launch date and letting them know you would love them to have it.

Now to create more hype online, you can send out a launch date and a sneak peek to your email list and post it on every social media outlet you have! Ramp up the hype so on that launch date people are waiting to buy your new product.

4.       Prepare for Launch!

The week of your launch date, post on every social media outlet every single day about your launch date. Don’t let anyone forget that you are launching a new product that they need to have!

Looking for help with your product launch? Email!