eCommerce product launch is a key business process, and the combination of today’s dynamic economy and competitive pressures make developing a strategic launch process crucial. Rather than throwing their product out into the world and hoping it sticks, companies need to be highly mindful of how they bring their product to market. Though some companies can survive a failed product launch, first impressions weigh heavily on future successes. Though much of the hard work takes place in the months leading up to the launch, revenue can’t start rolling in until the product is available for sale, so businesses are often in a huge hurry to get to market quickly. Unfortunately, this results in rushed and ill-prepared launches and becomes even more challenging for startups and first-time entrepreneurs that lack resources and a defined business roadmap. This article will help you develop strategies for a successful eCommerce product launch.
Data Gathering and Analysis
During this early stage for a successful eCommerce product launch, the objective is to ensure there is a need for your product by characterizing your customers and market. So, please get in the mind of your target audience and learn the best way to communicate with them. Initiatives during this phase should include:
- Identify customer needs
- Conduct market analysis
- Develop product definition
- Analyze competitors
- Beta test your prototype
- Define strategic objectives
- Create distribution plan
Advisors with expertise in market research, competitive analysis, product development, market expansion, and go-to-market strategy would be a valuable resource for this phase.
Using the intel, you gathered during Phase 1 to identify your ideal customer, create a marketing strategy that will resonate with them. Lock down the specific ways you plan to reach your audience and how you will convince them to buy your product. There are a few things to consider:
- Outline marketing plan
- Draft key messaging
- Build strategic campaigns
- Focus on public relations and advertising
- Set measurable goals
- Coordinate internal communications
In addition, advisors with expertise in creative advertising, social media campaigns, digital and email marketing, content marketing, and public relations/communications would be a valuable resource.
Now it’s time to put your plan into action. You will likely have several deliverables underway simultaneously, so while you are executing the plans put together in Phase 1 and Phase 2, remember to:
- Track each deadline and deliverable
- Stick to the budget
- Prepare sales and customer service teams
- Gather customer feedback
- Evaluate ROI
In addition, advisors with expertise in organizational leadership, go-to-market strategy, product management, finance, and operations would be a valuable resource.
Having an established process helps prioritize tasks to ensure you don’t skip ahead before your product are ready. Advisors who have navigated previous product launches understand the process, sense potential problems, and offer top-level assistance. Therefore, they have a good chance to grow a company from the ground up while building leadership credibility – a win-win. Making an eCommerce product launch sounds sophisticated and probably involves a lot of work. Suppose you are looking for an assistant who can help you with all the administrative work, refer to Atom8. This amazing app can leverage your ability to manage your store to another level. All you have to do is set up, and the app will take care. of the rest. Besides, this app can also remind you of the potential inventory issue, and all can be done at once.