Want to know a secret? You don’t have to be a marketing whiz to execute a B2B product launch strategy that translates into revenue. All you need are a few key components to generate demand from your ideal client. Here’s everything you need to know to bring a successful B2B product launch strategy to fruition.
Create a Product Launch Timeline
Before launching a new product, it is critical to create a timeline. Putting together a product launch timeline that includes campaign details, specific activities and notes key dates proves to be an important part of a successful B2B product launch strategy. It helps with the alignment of tasks and deadlines, which can often be missing, and ensures all of the integrated activities stay on track. Here are a few things to include in a product launch timeline:
- Goals: Whether it is a goal for the number of content pieces or products sold, setting realistic goals is essential. Including these goals in the timeline ensures visibility to all.
- Campaign Activities: All campaign activities should be clearly outlined with details and a timeframe for each attached. These activities include content marketing, email marketing, social media, messaging, branding, website updates, paid advertising, public relations and events.
- Team Assignments: With the campaign activities comes those who are responsible for each. Assign tasks to the appropriate team members and hold them accountable as time goes on. Be sure that activities are divided up as evenly as possible, there should not be one team member that is responsible for three times as many activities unless it is essential. Set your team up for success so all action items can be completed on time and efficiently.
- Dates and Deadlines: After activities have been defined and team assignments have been made, put a deadline on each one. This keeps everyone on track with their deliverables. Ensure dates are flexible so if changes need to be made, it does not completely derail the launch.
Define and Track Success Metrics
There are a variety of B2B product launch metrics and data points to track that can define success. Here are a few to consider at each stage of the launch:
- During the Launch: This is where the excitement happens. As the launch takes place, it is instrumental to look at data points that reveal core activity performance.
- Website Engagement: Has there been a large increase in traffic since the launch? How do the current session and pageview numbers compare to typical numbers? Is the new product landing page receiving a high number of views?
- Email Marketing Engagement: How are emails related to the new product performing? How do open and click rates compare to usual email open and click rates? What are audiences engaging the most within emails?
- Leads Generated: How many leads have been generated? Any conversions? How are sales conversations going?
- Social Media Engagement: Are posts about your new product obtaining a higher engagement or click-through rate?
- After the Launch: As the new product excitement starts to wind down a bit, it is important to reflect on performance and obtain feedback from various sources.
- Internal Feedback: Many team members were involved throughout the entire product launch process. Getting their thoughts and feedback on how everything went can uncover valuable insights.
- External Feedback: Even more important is gathering feedback from prospects, leads and lost deals. Each group went through a unique experience and will have their thoughts on the buying journey and details of what worked and what did not.
Develop Buyer Personas and Ideal Target Audience Insights
Every new product should have an intended target audience. Knowing a buyer’s needs before conceptualizing the product is a must, but knowing how to reach that audience through messaging and marketing during a launch is critical. Having a thorough understanding of buyer persona pain points, needs and characteristics plays a key role in the creation of targeted messaging, which serves as the starting point of a connection with prospects. As this relationship builds, it is easier to create more personalized messages and experiences to cater to each step in the customer’s journey.
Create a Content Marketing Plan
- Reasons for creating the product
- A preview of the features
- Results from the Beta launch
- Answers to FAQs that Beta participants had or users are anticipated to have
Leverage Social Media Platforms
Social media is essential for a new product launch. The reach it has and the various content forms available give social media a powerful standing. Here are a few core social media best practices for a B2B product launch:
- Identify Platforms to Use: There are many platforms available, and it can be a challenge to decide which to prioritize. For B2B organizations, LinkedIn should be strongly considered. Twitter, Facebook and Instagram are also important to consider but choose the platforms that meet your audience where they are.
- Create a Social Media Calendar: It is instrumental to outline what is going to be posted, when and where. This gives a clear visual of all things social-related. Plus, it helps your team stay organized.
- Get Creative to Generate Awareness and Engagement: There are many creative tactics to utilize on social media that can elevate awareness of the new product and boost engagement with content. You can create a hashtag to streamline posts into one location, encouraging others to use the hashtag as well, post a launch countdown and even do a preview of product features. Whatever it may be, think creatively, and innovate your way to the finish line!
Have a new product and gearing up for a product launch? Let us help! We have more than 20 years of experience helping companies successfully launch their new products and services. Contact us today or request a free marketing consultation.