How to Avoid Launch Failure

No matter how hard we may try and exert all our efforts in our launch, there are still chances of failure. Launching a new product has a lot of benefits and setting the right expectations for your launch is critical to successful marketing results, like attracting more visitors or converting more existing traffic to leads. 

Even if you have created a great product, a lot of its success is dependent on the launch. A product launch is essential because it creates the first impression in your audience’s minds. Here are some helpful tips that may help you avoid a product launch failure.

1. Build a product for your customers, not for yourself - Bear in mind that you’re not the main focus of your product, instead it is your customer. Your entire launch must focus on your prospect’s value and not the features, the pricing, or your “cool” design. Make it about the customer’s needs from the get-go and you’ll not only launch successfully but will also ensure those customers return.
2. Avoid too many niches- There are plenty of entrepreneurs who let their excitement get the best of them; they want to be everywhere, selling to everyone, all the time. Brand confusion is something new brands, especially small businesses, cannot afford. If you end up with too many different customers focuses, too many target markets, and spread yourself too thin- it will reflect in your brand.
3. Make efforts to collect feedback- When you launch a product you need to know what the public thinks about it. Use the information you collect to correct your product, pricing, delivery, or promotions as necessary.
4. Work as a team with your team members -I’ve noticed that one of the most common mistakes as to why entrepreneurs failed on their launch was their lack of team efforts.  A product launch requires a team effort to ensure everything from production to promotions goes off without a hitch. But if your team does not work as a team, it will just lead to product launch failure. Communicate with the team regularly for better coordination and so you are aware of how things are going. And make sure your team members are skilled enough to use tools and resources to keep on track.
5. Carry out a well-executed launch-  For the launch itself, remember to invest enough time in marketing your product and the launch. Launching early is good, but never launch too early. So always ask yourself and your team “Is the product ready for launch?”  Bear in mind that if your product is introduced at an unsuitable time, it may turn out to be a failure.

Product failure occurs due to the lack of sales. And the reasons for this could be a single wrong move or a combination of wrong moves. The best way to bounce back from failure is to learn from your mistakes. When you experience product failure, you must first identify what the problem is. The above are the common areas where you need to focus your attention. Make sure you check off all the above to prevent failure when you launch your product once again.

In order to avoid product launch failures, you first need to identify the common mistakes made before, during, and after product launches. Here are common mistakes that should be avoided: 

• Your product is not yet ready for everyone- You have to keep in mind that a successful launch starts with a great product. Therefore, you have to make sure that your product is ready before you launch it. 
• Your niche is not well established- Having a niche is important because if you try to cater to everyone, your overall marketing and message won’t speak to anyone. Your niche should be linked to your ideal client. So, it’s important you have a targeted niche market and speak to a customer or client in a way that they can really relate to. Stop hoping everyone will come when you launch and instead, validate your niche before you do anything else.
• Failure to measure your launch effectiveness- It is important that after your launch, you make sure to evaluate your marketing metrics. This will help you measure which strategies are effective. Collecting and reviewing feedback from different people is important at this point as well. Feedback will help you correct any mistakes on your launch and will allow you to easily address exactly what the customer wants.  

There are many moving parts to a successful product launch and no launch plan is foolproof,  but the absence of a plan is likely to lead to failure. Minimizing risks will help your product launch succeed, instead of taking a turn for the worse.

Having the best possible launch goes far beyond unveiling your product. To find out how Most Stellar Virtual Assistants (MSVA) can help you research, plan, and develop content for your launch and execute everything successfully click here to book a call with us for FREE.