If you list down all the giants of invention, you would not do justice to your list if you don’t include Thomas Alva Edison (1847 – 1931). The Wizard of Menlo Park held as many as 1,093 patents; many of them as a single owner while some patents were owned jointly. Needless to say, Edison is one of a kind holding a world record number of patents. It’s not hard to understand why he’s regarded as the quintessential American inventor rising heads higher than the rest of his kind.
To note, Edison invented the phonograph that revolutionized the telegraph industry veering it away from the strips of paper that were used during the day to record transactions. Instead, it relied on the recorded sound. In a way, Edison’s genius started the music recording industry we have today. And as he also invented the first motion picture camera, we can say Edison is the reason why Hollywood exists and is basking in its popularity.
It’s hard to imagine how he did it. From early childhood, Edison suffered from hearing problems.
Today, the market is much more diverse than before. Launching a product means you’d have to look into modern channels of advertising and marketing. And that means you need to deal with the internet.
In a way, the world we live in today is a product of Edison’s genius. Taking a page from him when you do your product launch would be wise. His dogged persistence and business smarts would definitely be worth emulating. Thus, we’re showing you five keys to help you make your product launch a whopping success.
Do Your Homework
It may sound cliche. But you need to prepare extensively if you’re to do your product launch right. Nowhere is the quip, falling to prepare is preparing to fail, so spot on.
For an American who did not carry a high school diploma, Edison would make a lot of degree holders squirm in envy. But even with all his genius, the Wizard also had his failures. For one, he invented the voting machine that politicians failed to appreciate. The media dubbed it the invention that nobody wants. Congress did not approve of his voting machine.
You’d do well to study your market before you do your launch. Defining your target audience should be a first in your quest to conquer that segment of the market.
This is why buyer personas are a brilliant way to serve your market. The better you are able to build a buyer persona, the better you’d be able to serve your market. It’s why studying the market viva market research works wonders. It helps you understand your target customer even more.
In this regard, you’d do well to pose rewards to your market research participants. Keeping in touch with platforms that facilitate market research payments or rewards online would be wise.
In a world filled with all sorts of data, clarity is a virtue. Buyers need to know what is it they’re signing up for. When you set forth a clear message, understanding the product is easier. Sadly, if you fail to convey a clear message, you’d be shooting yourself in the foot when you launch the product.
Toward this end, you’d do well to come up with a message map. It’s a framework to help you come up with compelling messaging that rings a bell to your target audience. Key talking points you need to look into are:
- Identify buyer personas
- Discuss your goals in catering to this segment
- Discuss how you should come across (messaging)
- Detail key message to your target audience
A good example here of clear-cut messaging is Zoom. For years, other videoconferencing programs were available online (Skype). But Zoom made sure it sent the right message from Day 1. Today, Zoom is cornering a larger share of the market that once was lionized by its competition.
If you don’t set goals, you wouldn’t know if you’ve succeeded. So be specific about what exactly would you want to happen with your product launch. Indeed, employing the S-M-A-R-T (specific, measurable, attainable, realistic, time-bound) method would bid you well in establishing goals.
A goal example would be to be able to cross-sell your product to your existing customer. Another would be to create sales opportunities right after launch.
No matter how perfect your plan is, some things are going to go wrong. Thus, it would be wise that you start your preparation earlier than you have to. When your lead time is so short, you’d be facing a lot of problems more than you can carry.
For a major product launch, tasks would multiply as the launch date nears. Creating a project timeline and starting your prepping earlier than you think you have to would give you better elbowroom to succeed.
Not everyone who will attend your product launch would carry your product back home. So it’s important you are able to develop the right relationship to be able to follow up. If you don’t, then you’d be losing a prospect faster than you have to.
A good way to do this is to develop a content plan. Put in the mix studies, demos, and white paper to strengthen your sales pitch. When you come ready with the right content, gaining an audience could be just a matter of time.
By deploying content regularly, you can influence your target market via social media and other online platforms. All because you made it a point to follow up and move boldly forward as Thomas Alva Edison did.