How to Develop a New Product Launch Plan in 2021?

Hello there! Yes, you – the one who has a terrific product idea in mind but has no clue how to do new product launch successfully. Or perhaps different questions are keeping you from starting, such as:

  • Can your idea honestly fill a gap in the market?
  • Is it an earth-shattering idea?
  • Is it sellable?
  • Does it allow people to make things better in any way?
  • Will it bring in revenue?
  • What should be your go-to marketing strategy?
  • Which marketing mediums should you use for advertisement?

Product launch within desired timelines to capture the market seems like a daunting task. Of course, there are no guarantees, but one can surely set them up for success.

And to help you achieve this unsurmountable task, we have made this guideline. It will help you develop a smashing launch plan that will empower you to get ahead of the competition and gain a first-mover advantage.

Top 5 New Product Launch Plans

Ready to roll? Let’s begin!

Chart Out the Product Layout

How to Develop a New Product Launch Plan in 2021 2

The product you are keen to sell must have a defined target audience. Once you can define your audience, it will become easier to identify their preferences and devise a product launch plan accordingly.

Start by researching the need for your revolutionary product in the market. Figure out:

  • What it is that you are offering others aren’t already providing?
  • Is it something that customers desire?
  • What exactly do they want?
  • How can your product benefit them? Are your sales estimations align with the ROI plan?

In brief, there are some basic questions you must answer before rolling the dice. And the best way to serve your ideal customers is by trailing their steps back to understand who they indeed are.

Gather the following information:

  • Age
  • Occupation
  • Favorite leisure activities
  • The preferred source of information – both offline and online
  • Usage manner of different channels
  • Pain points
  • Commonly sought out solutions
  • Approach towards those solutions

Together this vital information will make your target customers more natural to you and let you align your product artwork by defining who they are.

For example, if your intended customers are adults who prefer eco-friendly products, then make sure your packaging artwork reflects that.

Also Read: 7 Best Creative Packaging Box Design Ideas

Get a Gist of your Product’s Competitive Landscape

No matter whatever you are bringing out, make sure to research the market. Find out if your target customers want to switch to you? Is there no market for your product? Are you bring something revolutionary to the table?

Talk to the experts in the industry, hear what your partners have to say to reveal what the market seems like and where your novel product will fit.

Chances are your product might be offering something similar that customers are already using, but a critical differentiating factor can make it stick out. And this will be your unique selling proposition.

Make sure to answer these questions in the competitor analysis:

  • Do the rival products fall in the high-cost or low-cost category?
  • Which channels your competitors used before, during, and after product launch?
  • Do they have any affiliates, franchises, or partner re-seller programs?
  • Did they offer discounts or coupons at the launch?
  • Do they still offer any discounts or coupons?
  • Why customers prefer to buy from them?
  • Why don’t others buy from them?

This will help you understand what will go on your product label, how you can segregate your product by highlighting its unique features, etc.

Also Read: 14 Tips and Life Hacks for Accountants to Stay in Shape During Tax Season

Nail the Packaging Game with Custom Rigid Box Packaging

Packaging and branding go hand in hand when it comes to launching a product. A sturdy and flexible packaging solution like custom rigid box packaging always rules the brand recognition strategy.

Since packaging design and quality are everything, when it comes to creating a positive impact on customers, you must join hands with the rigid box manufacturers USA rather than some overseas Chinese firm.

When you have a dependable and professional packaging partner by your side, you can:

  • Receive free quotes for your project in a matter of minutes.
  • Make as many changes in the packaging design as possible. That too free of cost!
  • Share the design with a rigid box packaging supplier to collaborate on ideas.
  • Get digital proof so you can pinpoint the errors before the final print arrives.
  • Add rush production and avail expedited shipping to do product launch on a short note.

When your products dive off the shelves, you will know they had a solid custom rigid box packaging behind them.

Also Read: Learn How Cardboard Packing Boxes Provide Safety to Your Products

Get Customer Before You Actually Have Any

There is a simple way to make progress in the market before launch. As you create buzz around your novel product, you are pretty likely to get some search traffic. Create a landing page for your product, and integrate an email capture form.

People who are eager to get their hands on a new product are called early adopters. Once you can capture their contact information through an email form, make sure to keep them updated with all the information about your product.

Providing exciting breakthroughs and thorough education regarding your product will keep these potential buyers engaged. And you are likely to see them buy your products on the launch day.

Also Read: How Business Automation Can Improve Your Productivity

Don’t Hesitate to Offer a Free Trial or Demo

Free trials or demos have proven to be an excellent way to boost sales in the longer run. When you accentuate the specialty of your product and offer your target customers a free trial, they are likely to give it a go.

Even online media channels like Amazon, Spotify, or Netflix provide free trials to customers. To top it off, they provide customer service, and in turn, 47% of the users end up subscribing to one of the services at least.

Also Read: 5 Advantages Of Implementing Master Production Schedule

Winding Up

Whether you are performing a new product launch to dive into a new market or as part of your brand extension, you cannot achieve success unless you have a proper product launch plan.

While we cannot assist you with every step, there is one particular area the Packaging Republic is an expert in product packaging. To this day, they have helped countless brands with their packaging and design needs, be it custom rigid boxes or any other packaging. And they are eager to do the same for you.

Images by Mohamed Hassan and Gerd Altmann from Pixabay

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