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6 Tips on launching a new product or service

BY Erna Basson

Launching a new product or service is very exciting, especially if it works, but before you launch something new you need to ask yourself and analyze these 6 questions. This will form the base of your research and help you understand what you really want in a product vs what the product really needs. We all like to do things we like, but guess what, it's not you that will be buying your product or service, it is your customer. 

 

6 tips you need to know before launching a product or service:

1. Is there a demand for what you want to do?

You need to look what the market currently has and if there is something already in the market. If there is already people servicing that market and you still want to launch a smiliar product, you need to ask yourself 2 questions

  • How will you make your product better than your competitors
  • What will make you unique

2. Who is your audience and how will you interact with them?

In order to market your product correctly you need to know who you are marketing to as every demographic are different and needs to be addressed differently.

3. Solve problems

Which problems is your product solving for your customer. Keep in mind, the bigger the problems you are solving for the customer, the bigger reward the will be for you.

4. Add value

How is your product adding value to your customer? Is your product bettering the lives of your customer?

5. What will you do differently than your competitors?

What is your USP (unique selling proposition), what will set you apart from your audience, what will make you stand out.

6. Finish big

How will you create the WOW experience for your customer, what will make your customers come back.  Remember, your brand is what people say when you are not in the room.

 

Once you have gone through those 6 steps you need to take massive action and fast - to stay ahead in the game it is all about speed of implementation. A great idea is only a great idea until it is launched to the world. The speed and momentum that you implement your plan will be a reflection on how successful it will be.

 June 14, 2017
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