In order to capture users, these 6 elements must be obtained when launching a product!
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Product launch is a very important matter because it usually determines whether the product will be successful in the future. After all, once the first impression a product presents to the outside world is determined, it is difficult to change. I believe that the three factors that determine the success of a product launch are nothing more than the right timing, a great product, and the right target customers. Specifically, there are six key elements below. Focus on a certain type of customer According to a survey by CB Insights, 42% of startups fail because they fail to find the right market fit. In other words, they have products but have not found the right target customers. They are either so focused on launching a product that they don’t even know who their target customers are. Or the target customer range is too large, which distracts attention and makes it difficult to find the focus. But no matter which situation, there will be adverse effects. So, before launching your product, the first thing you need to do is to focus on a certain type of target customer, that is, those customers who are very interested in your product and are very likely to spend money to buy it. Once you’ve successfully converted this group of people into paying customers, you can then turn your attention elsewhere and try to convince other types of consumers. Here, I recommend everyone to use the customer development method of contemporary innovation master Steve Blank. This approach can effectively help you develop customers and products at the same time. Therefore, when you are ready to launch your product, you need to make sure that you have already grasped your target customers, so that you don’t have to worry about product-market fit, which lays the foundation for the product’s future success. Focus on solving a specific problem To be honest, almost every company wants to develop a universal product that can solve all problems in its target market. But this is unrealistic, and it usually results in product development being abandoned halfway or even completely scrapped. On the contrary, successful products start by solving certain specific problems and they target a small market. For example, Park.io specializes in helping users register expired domain names with the suffix .io, and does not involve domain names with other suffixes. The monthly fee of US$125,000 is their main source of income. Companies in other industries have also found success using this tailor-made approach. For example, Amazon initially only sold books, not everything else. Microsoft only sold disk operating systems, and later gradually began to sell cloud computing services and operating systems. So, if you want your product to be successful, you have to make sure it solves a problem. On this basis, other problems will be solved based on user feedback. Find the right product positioning Only by finding the correct product positioning can you adopt appropriate marketing methods and defeat your competitors. Product positioning includes many aspects, such as design, copywriting , features and pricing. Users' perception of your product usually depends on the initial product positioning. Product positioning is the key factor that determines its success or failure. The image that is initially established will last for several years or even forever. For example, the failure of New Coke, once launched by Coca-Cola , was largely due to its inaccurate positioning. In the process of finding the right product positioning, the following aspects should be taken into consideration: 1. Consumer Type Simply put, it means considering the value, demographics and economic capabilities of the target market when positioning. 2. Internal corporate culture Even though corporate culture plays a big role, it is often overlooked. Some companies feel that their corporate culture does not help much in product positioning, so they simply position their products in a youthful and interesting direction. In fact, this is wrong and may even lead to very bad consequences. 3. Marketing capabilities In addition to the above two factors, your product positioning also needs to match your current marketing capabilities. If you want to make a splash with your existing marketing capabilities, you need to hire the right designers and copywriters. 4. Competitors Accurate product positioning can help you stand out from many competitors. You need to figure out in detail how your competitors market themselves, then avoid their old paths and find a unique positioning that differentiates you from them so that consumers can recognize you at a glance from the many companies and products on the market. Build momentum with pre-launch marketing To explain this, let’s take Mint as an example. Before it officially launched its financial management app, it had received trial applications from 20,000 users. Someone must be asking, how does it do this? The answer is simple: market to consumers through email collection and content marketing before the product is officially released. This gives us a revelation that marketing and product development are equally important. Before your product officially goes to market, you need to build momentum in advance by leveraging market trends, media relations, and email content. For most businesses, this solves one of the biggest problems they face: distribution. If you want to be successful, you must create momentum in advance. Don’t just wait passively, thinking that customers will come to you after the product is released. As for how to create momentum in advance, that depends on your own marketing capabilities. However, the following general strategies are worth learning from: 1. Collecting information via email This is the most basic method, where you fill out a form with an email address on the landing page of your website. No matter when and where, as long as you mention your product, you must recommend the other party to browse this page. 2. Content creation and promotion If possible, you'd better open a blog and regularly recommend your own products. Again, using the above method, leave a form to collect the email addresses of those who are interested. In this way, the brand's market recognition can be improved before the product is officially launched. 3. Public relations This work must start as early as possible. You need to build good relationships with influential people and send content about your product to media reporters. During a product launch, a business card box filled with media contact information can be invaluable. 4. Iterative product development Let’s take Mint mentioned above as an example. Aaron Patzer, the company's founder, once said: "When I first started my business , I took a different path and it worked. I ranked the following four steps in descending order of importance: determining my idea, creating a product prototype, forming an excellent team, and seeking financial support." Perhaps you have discovered that this is the lean method later summarized by Eric Reis. The so-called iterative approach to product development means continuously developing and improving products based on user feedback. You need to launch a perfect product, just focus on solving one problem at a time (which goes back to the second point above), and then expand based on user feedback. Since user feedback is so important, here are some ways to obtain user feedback at different stages. In the pre-testing stage, you need to interview or survey some potential users to understand their needs and likes and dislikes; in the testing stage, you first need to send emails to users to solicit their feedback after use, and then select a few of them to meet in detail. For example, Alex Turnbull from Groove sent emails to 500 early users and used their feedback to improve the product; after the product is launched, you need to use a combination of user feedback collection tools and methods, such as Qualaroo tools and Net Promoter Score. Users should tell you exactly what the advantages and disadvantages of your product are so that you can prescribe the right remedy and continuously improve your product. The right time While quantifying timing is difficult, you can find the answer by asking three questions: 1. Is the market ready for my product? All kinds of products, especially consumer products, should have market demand. 2. Is my product ready for market? If you want consumers to be willing to pay for your product, the product must be mature enough. 3. Is my team ready to bring the product to market? To successfully bring a product to market, your team needs a combination of expertise, drive, and technical know-how. If the answer to any of these three questions is “no,” it will have an adverse impact on the product launch. To answer the first question, whether the market needs your product, there are four ways to do it: 1. Interview potential customers 2. Follow market research results and trends 3. Conduct tests in advance to roughly understand market demand 4. Learn from your competitors The answers to the remaining two questions are more subjective. You need to ask your team members if they are ready. in conclusion To successfully launch a product, many factors need to work together, including a great product, the right market, accurate positioning and the right timing. While the six factors above won’t guarantee a successful product launch, they will definitely help. Mobile application product promotion service: APP promotion service Qinggua Media advertising The author of this article is @猎云网 and it is compiled and published by (Qinggua Media). Please indicate the author information and source when reprinting! |
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