What is a Product Launch Plan? - 280 Group

A product launch is a planned effort to bring a new product to market. The goal is to make sure that everyone inside the company, your partners and target ... SALE20%OFF⭐AllLiveOnline&In-PersonCourses. GETMYDISCOUNT *saleendsJune31st. NEW:InsightstoDigitalProductSuccessSuite. WINWITHDATA! NEWREPORTAVAILABLE:ProductManagementSkillsBenchmarkReport2021READNOW ✕ ProductManagementResources 4.DocumentsandTemplates WhatisaProductLaunchPlan? Resourceslist ProductManagementResources 1WhatisProductManagement? 2RolesandResponsibilities 3SkillsandStrategies 4DocumentsandTemplates WhatisaBusinessCase? MarketRequirementsDocument–WhatisaMRD? ProductRequirementsDocument–WhatisaPRD? WhatisaProductRoadmap? WhatisaGo-To-MarketStrategyTemplate? WhatisaBetaProgram? WhatisaProductLaunchPlan? ProductLaunch Whatsizeproductlaunchareyouworkingon? CreatingaProductLaunchPlan WhatisaMarketingPlanTemplate? WhatisaProductEndofLife(EOL)Plan? 5AgileProductManagement 6TheUltimateGuidetoDigitalProductManagement WhatisaProductLaunchPlan? ProductLaunch A productlaunch isaplannedefforttobringanewproducttomarket.Thegoalistomakesurethateveryoneinsidethecompany,yourpartnersandtargetcustomersknowaboutyournewproduct.Ifyoudon’tdotheproductlauncheffectively,customerswon’tbeawareofyoursolution,ormaypotentiallyhaveabadimpressionofyourproduct,andyoumaynothityourrevenueandprofitabilitygoals. Launchingyourproductisjustasimportantasdevelopingagreatproduct.Ifyoudon’tdotheproductlauncheffectively,customerswon’tbeawareofyoursolution,potentiallyhaveabadimpressionofyourproduct,andyoumaynothityourrevenueandprofitabilitygoals.Assuch,planningearlyiscritical.Startyourproductlaunchplan4-6monthsbeforelaunchsothatwhentheproductisreadyforsaleyouwillbereadytoeffectivelyexecutealaunchthatmeetsyourgoals. Productlaunchplanshelpyousequencetheeventsthatleaduptoandevenpastaproductlaunchdate.Yourgoalistomakesurethateveryoneinsidethecompany,yourpartnersandtargetcustomersknowaboutyournewproduct. ProductLaunchPlan–StepsandTiming Whatsizeproductlaunchareyouworkingon? Notallproductslaunchandeventhosethatdodon’tallhavethesametypeofproductlaunches.Productsthatarecontinuallyupdatedsuchasweb-basedsoftwareorsmartphoneappsusemarketingtechniquestoremindcustomersthattheirproductisavailable. Productlaunchescomeindifferentsizesandtypes: SoftLaunch:Whenyourproductsneaksintothemarketwithoutmuchfanfare.Oftenproductssoldfromonebusinesstoanotherlaunchthisway.Youdon’tgetalotofattention,butmaybeyouproductisn’tquitereadyforprimetimesoitmakesmoresenseforafewcustomersatatimetohavealook.MinimalLaunch:forsmallerproductsorsmallincrementalproductchanges,theminimallaunchgetsthewordoutwithoutahugeamountofmarketingspend.Full-scaleLaunch:Toletthewholeworld(OK,yourtargetmarkets)knowaboutyourproduct,aimforafull-scalelaunch.You’llspendalotoftimeandenergymakingthishappen.Italsohasthebestchanceforsuccess. Decidewhichtypeofproductlaunchisbestforyourproductbeforeyoustartyourproductlaunchplan. DevelopDigitalProductsThatMatter Learntheiterativecustomer-ledproductmanagementmethodologyusedbysuccessfulcompanies. RegisterNow CreatingaProductLaunchPlan Yourlaunchwilltellyourcompanyandstakeholderswhatyouareplanningandhowitimpactsthem.Theprocessofcreatingitwillhelpyouthinkaboutthedifferentaspectsofthelaunchsothatyouarewell-preparedtoexecuteontheplan. RecognizingtheImportanceoftheProductLaunchPlan Aswithallthingsinlife,spendingsometimeupfrontplanningyourlaunchwilllikelypayoffwithgreatsuccess.Ifyouhaveanideaofwhatyourgoalsareandhaveawell-thoughtthroughplan,you’reatleastheadedintherightdirection. Your MarketRequirements(MRD), Go-To-MarketStrategy and ProductRequirements(PRD) documentsaregoodsourcesforthetopicsneededatthebeginningofeachproductlaunchplan. FillingOuttheProductLaunchPlanTemplate Aproductlaunchplantemplateincludesabriefbackstorytothelaunch.Mostofthelaunchplanisalonglistoflaunchactivitiesandreasonsforeachofthem.Thebetteryoucantelltheoveralllaunchstoryandhowallthepiecesfittogether,thebetteryoucandefendyourlaunchplanandthebudgetyou’llneedtoexecutethelaunchproperly. ExecutiveSummary Summarizethegoalsofyourcampaign:companymessages,productaudience,goalsforthelaunch,andhowyou’llmeasurethelaunchsuccess.Identifykeyfeaturesoftheproductyou’relaunchinghere,includingfeatures,functions,andsystemrequirements.Completethisaftereverythingelseiswritten. ProductDescription Includeabriefdescriptionoftheproduct(2-3paragraphs)thatdescribeswhattheproductis,themainfeaturesandbenefitsitprovidesandhowitsolvescustomerproblems. TargetAudience Whoisyourtargetcustomer?Whoaretheproductpersonas?Whatareyourtargetmarketsegments?Whatbusinesssegmentsareyoutargeting? KeyMessages Whatareyourkeymessagesfortheproduct?Foryourcompany?Thisinformationcomesfromthemessagingplatformbasedonyour productpositioning. CriticalSuccessFactors Includethespecificcriteriathatindicatethatthelaunchhasbeenasuccess.Includeconcreteandmeasurablegoalssuchasrevenuetargets,numberofpartnerscarryingtheproduct,andchannelavailability. Criticaldatesandmilestones Listallcriticaldatesandmilestonesincludingproductavailability,finalizingproductname,budget,positioning,andpressactivities. Internalcommitmentsandowners Whoisallocatedtosupportcustomersthroughthebetaprogram? Marketingcommunications Whatkeymarketingvehicleswillworkbestforyougivenyourbudgetaryconstraintsandyourtargetaudience?Thisshouldinclude: Collateralmaterials:Datasheets,brochuresPresseventsTradeshowsPublicationsProductevaluationsOnlinecommunicationsCompanywebpages Milestones Listanoveralltimelineofallactivitiesinthelaunchplanthatneedtohappen. FinancialsandLaunchbudgetallocation Whatisthebudgetforyourlaunchplan?Provideapiechartofhowyou’reallocatingthelaunchbudgetandgivethedetailsinatable. Other RiskAnalysisAssumptionsOpenIssuesDocumentApprovalCoreteammembers Aproductlaunchisexciting.Makesuretoaddelementsofmarketexcitementinyourplanforthebestresults.Goodluck! Sharethegiftofknowledge ShareShareTweetEmail Let’sDiveDeeperIntoKeyRolesAssociatedwithProductManagement WhatisaMarketingPlanTemplate? WhatisaProductEndofLife(EOL)Plan? WhatisaBusinessCase? ShareShareTweetEmail DevelopDigitalProductsThatMatter Learntheiterativecustomer-ledproductmanagementmethodologyusedbysuccessfulcompanies. RegisterNow ✕ I'mcurrentlyaProductManager,ProductMarketer,orProductOwner NextStep I’maDirector,VP,ManagerorExecutive NextStep IwanttobecomeaProductManager,ProductMarketer,orProductOwner NextStep ✕ I’maDirector,VP,ManagerorExecutive NextStep IwanttobecomeaProductManager,ProductMarketer,orProductOwner NextStep