It’s important that we’re aligned on the definition and goals of the term “product launch” before diving in.
The Product Launch
We’ll be discussing the term “product launch” plenty of times throughout this guide. It’s important that we’re aligned on the definition before diving in. A product launch refers to a company’s planned and coordinated effort to debut a new product to the market and make that product generally available for purchase. Product launches help organizations build anticipation for their product, gather valuable feedback from early users, and create momentum and industry recognition for the company.
Start with the end in mind
Before you get too deep in the trenches of building your product launch, it’s valuable to determine what you’d like to achieve. Just building the product and shipping it is not a success in itself. If you’re building a minimum valuable product (MVP) for example, think about the type of product and business you want to be five or ten years down the line. How are you going to get there? This is the product vision—every product manager needs to have one.
By defining a high-level product vision, you can get the executive team, marketing, support, engineering, and the rest of the organization onboard with the product launch strategy.
Product launch goals:
As you read through this guide, always keep in mind the goals of your product launch. What does your product team hope to achieve? Good goals are clear, measurable, and have an expected time frame.
Goals that businesses are typically hoping to accomplish with a product launch, range from:
- Find a product-market fit
- Capture new customers
- Increase in revenue
- Build product awareness
- Build the company’s reputation in the industry