Every new B2B product needs a sound marketing plan to foster awareness and ultimately revenue growth, but before you can walk, you must learn to crawl. Read on, to learn about the four essential elements of a product launch marketing plan.
Product Launch Schedule and Marketing Budget
Two of the most basic rules of a marketing plan are to know the budget and know the schedule. Most marketing plans are typically put together in a spreadsheet or some sort of template, making it easy to visualize the timeline and budget allotted for each activity. When creating the plan, pay close attention to key dates within the product launch timeline, which outlines milestones related to the launch and other basic project goals. Outline all marketing activities that will help promote the new product and the budget associated with those activities in the plan. Be sure to include an accurate timeframe for each activity, but try to be flexible, as things change all the time. While it might be hard to depict in a spreadsheet or template, it is ideal to leave a little wiggle room in the budget allotted to ensure all things are covered if activities shift a little.
Assigning Responsibilities to Marketing Activities
Another critical element of a marketing plan for a new product is assigning responsibilities for each project. It could be an individual, an entire team or it could involve multiple people and teams. It is all dependent upon the project. Aside from who is involved, there are also likely going to be levels of responsibility with a project. For example, one person might be drafting certain content assets, another reviews and approves and another designs the collateral. Be sure to denote who leads and who supports each project as this will help avoid confusion when things get busy and keep from overloading one individual with too many projects.
Outline Key Activities for All Marketing Channels
Knowing what marketing channels are being utilized rounds out the marketing plan. Supported by the marketing strategy, these channels were chosen to reach the target audience. Each marketing channel is associated with multiple projects or activities. For example, email marketing is one channel, but there are many activities associated with email marketing that span over a period before and after the launch. Detailing each activity for each broader channel in the marketing plan provides clarity as to what is happening, when it is happening and who is responsible.
Continuing the email marketing example, there will be several emails sent leading up to the product launch. Outline each one and include key information such as the type of content, who it is sent to and who is responsible for writing, reviewing and sending out the email. As a B2B marketing leader, you know how important it is to include as much detail as possible, so everyone is aligned on the goal at hand, especially when there are so many marketing channels involved.
Content Marketing Strategy and Plan
Content drives almost everything in the marketing plan, so having a content marketing strategy and plan for the new product launch is also instrumental to the success of the marketing efforts and launch overall. The content strategy should align with the overall marketing strategy, considering key factors such as target audience, persona characteristics and the product itself. Creating the content marketing plan might seem easy, but here is a refresher on what to include:
- The format of the content, whether it be a blog, eBook, white paper, etc. and note the theme of the content.
- The publishing dates: It is also important to note when it should be started so there is plenty of time to create it.
- Who is responsible for developing and contributing to the content. This includes assigning who is drafting, reviewing, approving and designing, if needed.
- Who the content is developed for, such as certain audience segments or personas.
- The marketing channels where the content will be published, whether it is internal, such as on the website or blog, or external, like a press release publication site.
A marketing plan for a new product launch that includes the above components will put your organization on the path to product launch success, ensuring you reach your goals and beyond.
Gearing up to launch a new product but need more expert assistance? Contact us today or request a free marketing consultation! We’ve helped many of our clients successfully launch their new product or service into various markets and meet their goals.