Let’s start with - what is product launch marketing? Contemplating a product launch is the process of introducing a new product to the market. A product launch marketing would be the medium through which you're letting everyone know about it. Obviously, that’s no easy feat. How will you announce the launch to the world? That’s what this blog post is here for, to help you work that out. Read on as you know more about:

What a product launch digital marketing plan is.
The importance of having a product launch marketing plan.

What is A Product Launch Marketing Plan?

A product launch marketing plan is a 3-phase promotion plan to synchronize all paid and organic marketing campaigns designed for creating product awareness and ensuring a successful product launch.

A product launch marketing plan includes:

The pre-launch phase—research & road mapping. This is the phase of research and planning. During this phase all the research happens regarding the product and the market you’re about to enter. You determine your marketing strategies and the right channels to carry them out.

The launch phase—rollout & reporting. Here your plans are implemented. You produce events, press releases, blog content, email marketing campaigns, ads, videos, or related physical or digital content that will allow you to reach the maximum number of customers.

The post-launch phase—response & retention. Here, you analyze your data and put customers’ feedback into practice. You and your project management team identify what product features need to be modified, removed, or added.

‍Why is It Important to Have a Product Launch Marketing Plan?

In a report published by the Marketing Research Association, 60% of developed products never really show up on the market. Moreover, of the 40% that make it, only half of them get to bring in money. The figures of the grocery industry are worst with only 20-30% of newly launched products earning revenue. Why do so many products fail? Is it due to buying behavior? A part of it is. Actually, today’s average American family buys about the same 150 products repeatedly. It’s clear that introducing a new product is not an easy task. But it’s not impossible.

With a well-designed product launch digital marketing plan:

You have a better chance of your product reaching your target market. When pursuing the right research strategies in the pre-launch phase, you know who your target consumer is. Based on your findings, you can then produce targeted campaigns customized to your ideal customer’s needs. For example, if you’ve worked hard to outline the buyer persona with your target customers’ demographic, geographic, and psychographic details, you will end up creating launch campaigns that arouse interest.
You have less chance of product failure. With perfect product development, launch campaign, and a marketing plan established to the last detail, failure should not be your worry.

To Conclude

A product launch plan is the process of bringing a new product to market through an array of collaborative product development, marketing, sales, and customer service efforts.

Product Launch Digital Marketing Plan –Importance of Having It