There are several traps that Product leaders face when launching their new product, and if not properly managed, they all lead to slow customer adoption, lower revenues than expected, internal and external friction. The most effective way to tackle these challenges is to structure your product launch on several fronts. The playbook that results from this approach will get the early validation and subsequent success much desired.
MVP - Most Valuable Product
A product launch will be successful when its value proposition is crystal clear, its target clients have been identified earlier on and early adopters have been secured. Your product cannot be perfect at its first launch and you should set the expectation to iterate with your first customers: introduce product waves where you introduce improvements to the early functionality, reduce the product customizations dedicated to your early adopters and, when possible, hire new resources or identify internal individuals that will keep track of all the steps needed and orchestrate all the resources.
Help Others Help You
You are responsible for making sure that your implementation team, your support lines and your operational infrastructure is ready to assist your product launch. These teams and the tools that assist them, are instrumental in the success of your new product and failing to prepare them, puts your success at risk of lacking the necessary internal support.
Sales, Sales, Sales
It is undeniable that your most important allies in launching your product, are the Sales team member. It is a fact that Sales team members are reluctant to be the first to sell the new product and, by default, gravitate towards their known territory. Your goal is to both motivate them and put them at ease with what is still unknown: engage your marketing team to produce compelling internal documentation and training materials and leverage major client events and conferences as catalysts to line up your troops for success. Depending on the degree of technical complexity of your new product, you must also engage your Sales Engineering team with early product demos and training sessions as they can be your most direct launching pad for both internal and external product adoption.
Make Friends outside your Organization
When your product is sold not only by your own Sales team but also through partners’ organizations, you must engage a larger sales audience. You will have to consider dedicated sessions that customize your message to the specific partner’s needs and maintain this training as an ongoing task of your product launch.
Conclusions
Launching a new product is challenging, both in terms of timing and resources. If you launch your product too soon, you risk losing internal and external credibility. If you launch your product too late, you risk losing relevant market share and opportunities. No matter the complexity of your product, you need to line up content and resources to facilitate the sales process. We believe that the framework outlined is instrumental in setting the foundations for your successful product launch.
