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Content marketing is a essential digital marketing strategy for companies looking to provide relevant and useful information to support your community and attract new customers.
Get started on your content marketing journey today.
Sustainable Innovation in Times of Disruption: Choices for a Better Society
There are opportunities for progress all around us. The key is to innovate on these opportunities sustainably.
To help identify most effective path forward, you'll need to gain a global perspective to these challenges in an open discussion. How can Japan and the world take action to create a more sustainable, innovative world? Where do you fit in?
It's time to find out.
Social Media & Digital Communications: Impact on Global Public Opinion
Social and digital media have dominated the communications industry for decades. But it's no secret that social media has the power to sway public opinion, and the way in which many companies use these platforms could be seen as manipulative.
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Discover what top media and communications experts have to say.
CAGE Distance Framework
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Servant Leadership
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Strategy: Creating Value Inside Your Company
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Strategy: Understanding the External Environment
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Using Japanese Values to Thrive in Global Business
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Basic Accounting: Financial Analysis
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Career Anchors
What drives you to be good at your job?
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Try this short GLOBIS Unlimited course to identify which of the eight career anchors is yours!
Leadership with Passion through Kokorozashi
The key ingredient to success? Passion.
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You’ve been developing your product or service for years now. You’ve carefully chosen collaborators, studied your target market, and developed a solution-oriented product. It’s understandable that you’re eager for the public to experience the product you’ve invested so much in.
However, you mustn’t rush this stage of the process. Your product launch isn’t just about making your product available—it also ensures a positive start. It’s an avenue to build customer service relationships and an opportunity to bolster your marketing efforts. As such, you need to put measures in place to ensure it is as seamless as possible.
Here are four of the key tactics you should be using.
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Instant Insights: The Product Life Cycle
Design Thinking Principles: A How-To Guide
Create a Product Launch Checklist
It might sound obvious, but your product launch requires as much planning and detail as the rest of your business.
Launching a new product involves more than just including a new item in your store and creating a landing page. A thorough checklist can keep your product launch strategy on track.
Determine what preparations you need for the launch and your goals for the launch day itself. Collaborate with your team for valuable insights from their areas of expertise.
After deciding what you need to accomplish, create a simple checklist to start, and modify it on an as-needed basis. Here’s a sample list to get you started.
Preparation Phase:
Conduct Market Research
- Identify your target audience.
- Analyze competitors and market trends.
- Establish the ideal launch date (this can be make or break, especially with software launches)
Product Development:
- Finalize product design and functionality.
- Ensure product quality and compliance with industry standards.
Branding and Messaging:
- Create a strong, memorable brand identity.
- Develop clear messaging that articulates the product’s value proposition.
Pricing Strategy:
- Determine a pricing model based on market research and cost analysis.
Promotion Phase:
Marketing and Advertising:
- Have your marketing team develop a marketing and advertising plan.
- Create promotional materials like social media posts, videos, and email campaigns to build anticipation.
Launch Phase:
Sales Channels:
- Set up online and offline sales channels.
- Train the sales team on product features and benefits.
Customer Support:
- Establish customer support channels and resources.
- Train customer support staff.
Measurement:
- Monitor sales and website traffic.
- Collect and analyze customer feedback for future improvements.
Anticipate Potential Pain Points
You should approach your product launch with a positive mindset, but don’t be blindly optimistic. It’s not a matter of if something will go wrong, but when.
There’s no need to panic, however. As long as you’re prepared to respond quickly and efficiently, you can adapt to issues as they present themselves.
Perform a Risk Assessment
A few months before the launch, put some time into risk analysis. If possible, assemble a dedicated team.
Give them the scope to explore and assess your business risks from multiple angles. Have them consider the potential for economic change, the health and safety of consumers and employees, and even fraud and intellectual property theft.
Spending time on risk assessment will buy time for your team to break risk management down into practical chunks that won’t be so overwhelming. It also enables you to bring in third-party contractors for assistance if needed.
Once you and your team have completed risk analyses and designed mitigation plans, communicate the results across your organization.
To respond well, everybody must be clear on the exact process for disaster management, including which members of the staff act as the lead for each response. Prioritize clarity, and your staff will be able to get on with their tasks confidently during the launch.
Prepare for Bugs and Other Issues
If there’s one thing that can derail an effective product launch, it’s errors in your system (particularly if you’re launching software).
This can immediately impact the credibility of your company. Commit to finding all problems big and small, right up to launch day and beyond. Don’t just rely on automation here. This step can benefit from team diversity—different people with different backgrounds will inevitably find different bugs.
Organizing a few bug bashes in the lead-up to the launch can be effective and fun. Get the whole team together to explore the system. Set some objectives, actively look for issues, and bash any bugs you come across.
Continue Improving Post-Launch
You’ve gone through your checklist, mitigated potential issues, and launched your product. It’s finally time to put your feet up and relax, right? Unfortunately, that’s not the case.
Your work doesn’t end on the launch date. Don’t think of launching as the culmination of your work, but rather the catalyst that will set a lot of other things in motion.
After your product launches, use business analytics processes to understand market data, past sales metrics, and other information to help establish the state of your company and industry.
One of the most important aspects of your planning is analysis interpretation—translating assessment data into useful information for your team.
This empowers you to take appropriate steps after your launch to ensure you’re making the most of the product.
Keep the following educational objectives in mind:
Demographics: The world is constantly changing around us. As such, your targets (and their priorities) will shift frequently. Your team should continually assess your target audience, and what they need from your products and services.
Perspective: Put together diverse teams to commit to learning. Task them with performing outreach, speaking to others in the industry as well as consumers, and even engaging on social media for insights.
Future takeaways: To remain successful, you need to track your results. Establish what your team’s key performance indicators are and use them in your post-launch analysis.
You can use that information to form stronger development teams or create more effective marketing materials. Track and audit as many of these results as you can so your next launch is even more successful.
The Key to Product Launch Success
Your new product or service is a labor of dedication and deserves a successful launch. By planning from the beginning, you can ensure that you achieve your goals. A commitment to learning will keep your staff informed and involved in product life after launch.
Planning for a worst-case scenario isn’t romantic. But doing so will help you handle problems as they arise. It can mean all the difference between a successful launch, and a total failure.