How to Run a High-Impact Product Launch

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

How To Run A High-Impact
Product Launch

Brian Lawley
CEO & Founder, 280 Group LLC ™

Author, Expert Product Management
Author, The Phenomenal Product Manager

Slides available at www.280group.com/launch.pdf

Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission


About This Presentation
• Teaches best practices for Product Launches
• Part of the 280 Group Product Launch Toolkit™

Other files in the Product Launch Toolkit:
Templates Guidelines

Samples



Agenda
• Background
• The Value of a Well-Executed Launch
• Types of Launches
• Setting Goals
• Critical Elements of a Successful Launch
• Best Practices
• Giveaway!

• All examples in presentation are fabricated
• Templates are available in 280 Group Product Launch Toolkit at www.280group.com



About the 280 Group…

The Product Marketing & Product Management Experts ™

Consulting ● Contractors ● Training ● Certification● Books ● Templates



Value of a Well-Executed Launch

• Provide initial momentum to ramp sales
• Give you a competitive edge
• Provide early information about necessary
course corrections
• Helps your company reach it’s goals while
providing a good ROI



Launch Goals
• Generate leads
– How many and by when?
• Drive revenue
– How much and by when?
• Set the competitive argument
– Against who and on what scale?
• Create initial awareness and buzz
– With whom and how much?
– What vehicles (press coverage, marketing, ads, etc.)
• Get the product into customer’s & partners hands
– How many?
– Why?



Product Release Cycles
Release 1

Long Release Cycles
(Major New Product)

Release 1 Release 2 Release 3 Release 4 Release 5 Release 6

Short Release Cycles
(Minor Product)*

1 month N Years

* Common with SaaS and/or Agile development



Types of Launches

• Long release cycles: Major new product
– “Soft” launch
– Minimal launch
– Full-Scale launch
• Short release cycles: Minor product*
– “Soft”
– Minimal

Which type you choose depends on your goals, budget,
resources and amount of time until the launch
* must be combined with ongoing marketing



Soft Launch

• Product not fully ready
• Deploy to limited set of customers
• May not have funds or resources
• Ship date & product uncertainty: minimize risk
• Get the product out and get quick feedback



Soft Launch Downsides

• Little or no revenue
• No press coverage or market awareness
• Inability to recover
• Spend much more on marketing later



Minimal Launch

• Unimportant product or minor revision
• Funding and resources limited
• Not enough time to plan & execute
• May accidentally have a minimal launch
– Don’t know how to plan and execute a full-scale launch
– Unrealistic assumptions about viral and/or word of mouth
• May want to target one market segment: use $$$
effectively
• May want to use influencers or evangelists to get
your message out vs. direct $$
• Many of the same downside as a soft launch



Full-Scale Launch

• Maximizes awareness
• Generates many leads/sales
• Puts the product/company on the map
• Uses marketing $$$ more effectively: Synergy
• Can go horizontal or multiple verticals
• Gives product best chance of success



Choosing The Type of Launch

Soft Minimal Full-Scale
Launch Launch Launch

Short Release Cycle
√ √
Long Release Cycle
√ √



Elements of a Successful Launch
• Clear Goals
• Planning
• Communication
• Timing
• Effective marketing mix
• Compelling messaging
• Budget to achieve goals
• Message reaches target customers
• Product readiness


Launch Plan Components

• Summary • Features & Benefits
• Purpose of this plan • Price
• Market Overview • Place & Channel
• Key Market Trends • Marketing Strategy
• Launch Goals/Objectives • Marketing Tactics/Promotion
• Target customers & needs • Launch Budget
• Market segmentation • Marketing mix & metrics
• Product • Expected ROI
• Ship date/Window of Opportunity • Action plan/deliverable ownership
• Positioning • Rough Timeline/Schedule
• Tag line • Key decisions remaining



Market Segmentation
• Markets can be segmented differently
• Consumers –
– Demographic (age, sex, income, etc.)
– Psychographic (lifestyle or mindset)
– Vertical (e.g. interest, expertise, etc.)
• Businesses –
– Firmagraphic
– Vertical
• Overall –
– Needs, characteristics, behavior

Which segments you choose will determine what marketing
programs, messages and activities you use to reach the target.



Marketing to All Parties



Communication

• Internal
– Launch Plan presentation
– Weekly launch team meeting
• Track deliverables
• Clarify blocking issues
• Assign action items
– Bi-weekly email to executives
• External (at appropriate time)
– Channels
– Key Customers & Influencers
– Press Analysts


One Page Product Overview

• All critical details “at
a glance”
• Eliminates having to
repeat information
• Keeps team on the
same page
• CYA with Executives



Ideal Launch Timing
• Marketing/PR hit the day the product is available
• Sometimes announce before availability
• Continued programs/reviews to keep momentum (3-6 months)
• Set a goal and work backwards
– Ideal: start planning and work 6 months prior to ship date
• Worst case: announce too early
– Customer attempts to purchase but isn’t able to
– May purchase competitive product
– Unable to get coverage when becomes available
– Lose mindshare with press & customers
– Take pre-orders but can’t fulfill
– Strong embargo w/ press & employees



Press & Analysts Launch Timeline
Analyst & Press Program
Page 1 of 1

Apr May Jun Jul Aug Sep Oct
TASK 2 9 162330 7 142128 4 111825 2 9 162330 6 132027 3 101724 1 8 1522
Analyst Activities
Kickoff/bi-weekly meetings
Set up analyst meetings
Finalize analyst list (1 friendly, 4 add'l)
Calls to analysts to set up mtgs
Prepare briefing & review materials
Presentation
First draft
Internal Review
Final version
Final modifications to rev guide
Press kits
Set up test/review accounts
First meeting with "Friendly" Analyst
Modifications to materials/messages (if necessary)
Meeting w/add'l 4 analysts
Check in on analysts/relationship building

Press activities
Prepare press briefing materials
Long Lead Press Briefings
Short lead time briefings
Product ships

Review activities
First 3 Friendly Reviewers
Second phase of reviewers (8-12 total)
Third Phase of Reviewers (8-12 add'l)
Final Phase of Reviewers/Stragglers
Weekly "Friendly" Check-in calls

Press Coverage
Dailies
Weeklies
Monthlies



Marketing Mix Components

• PR activities • Channel programs
– Press tour – Spiffs
– Review program – Retail presence
– Analyst coverage – Reseller purchase program
– Digital pressroom – Collateral
• Advertising • Promotions
– Print/Radio/TB – Rebates
– On-line Banners – Introductory prices
• Direct mail – Comarketing
– Customer list • Collateral
– Purchased lists – Brochures
• Email campaigns – White papers
– Customer list – Success Stories
– Purchased lists – Sales Tools
• Website – Demos
– Search Engine Optimization – Video testimonials
– AdWords/Yahoo/MSN • Trade Shows
– Blogging • Launch Event
• Viral & Guerrilla Marketing • Webinars/Seminars
– Blogs/bloggers • Social Media programs
– Online forums



Social Media
• Appropriate for certain launches
• Target audience are social media consumers
• Product is viral, and requires little explanation
• Social media is a natural extension of the way the
company would communicate



Social Media Caveats
• Not a magic bullet
• Requires well-thought-out strategy
• Consistent effort – takes a LONG time
• Choose carefully
– Blogging
– Twitter
– Facebook
– LinkedIn
– MySpace, Friendster, country-specific
– Youtube
– Podcasting



Social Media Synergy & Leverage

• All efforts combine to make a greater whole
• Coordinated effort within company
• Example
– Blog post
– On Facebook fan page
– Tweeted out
– Status update on LinkedIn
– Content used email newsletter



Effective Marketing Mix
• Consistent with target customer’s buying behavior
• Synergistic
• Above the “Bar” to meet goals
• Provides effective ROI
• Combination of:
– Awareness creation
– Demand generation
– Conversion of leads
• Establish meaningful metrics by marketing category



Compelling Messaging

• Positioning
• Long/short/1-sentence Elevator Pitch
• Features & Benefits
• Unique Selling Proposition

If possible test your messages before launching
your campaign to make sure they hit the mark!



Positioning Process

• Develop product positioning based on key
differentiators
• Validate with customers and channel
• Refine positioning based on research results
– Hone positioning statement
– Develop matrices
– Develop product tagline
– Write top features & benefits
– Develop messaging and 25, 50, 100 word product descriptions



XY Axis Positioning Chart

Competitor
1 Product
Main Advantage 2

Name

Competitor
2
Competitor 3

Main Advantage 1



Matrix Positioning Chart

Affordable
Competitor
1 Product
Name
Competitor
2
Months to deploy Days to deploy

Competitor 3
Expensive



Positioning Statement
For [target customer] who need to [primary
need], [product name] is a [product category]
that provides [feature 1], [feature 2] and
[feature 3].

Unlike [main competitor], [product name]
delivers [main advantage 1] and [main
advantage 2].
Example: Apple TrueType

“For all Macintosh users who need to always have crisp and clear fonts, TrueType is a font rendering technology that
provides smooth fonts, great printouts and built-in operating system support.”

The tag line for TrueType was: “Great Type, Anywhere, With Ease”



Messages, Features & Benefits

• Messages: 25, 50 100, 250 word descriptions
• Features & Benefits
– Talk to your customers about benefits, not
features.
– Try to keep it to five
– Use the “…,which means that you can…”
technique (see features & benefits article)



USP: Unique Selling Proposition

• One short hard-hitting sentence
• Conveys the essence WHY choose your
product
• Memorable & repeatable
• Supports positioning & tag line



Budget

• Depends on type of launch
• Possible ranges
– Soft: $10k
– Minimal: $50k
– Full Scale: $500k and up
• Key: Overall mix funded to meet goals
• Rule of thumb:
– 5%-20% of expected revenue
– > industry average for annual marketing of similar
products



Soft Launch Sample Budget

• Collateral: $5k
• Adwords Campaign: $4k
• Press release via PR Newswire: $1k
• Guerrilla activities via in-house staff
• Total: $10k



Minimal Launch Sample Budget

• Collateral & Demo: $10k
• Press release via PR Newswire: $1k
• Email Blast via purchased list: $10k
• Channel marketing program: $25k
• Guerrilla activities via in-house staff
• Total: $50k



Full-Scale Launch Sample Budget
(Pre-launch + Three Months Afterward)

• PR Firm for 6 months: $120k
• Print Advertising: $250k
• Collateral & Demo: $25k
• Trade Show/Launch Event: $30k
• Email blasts to purchased lists: $20k
• Channel marketing program: $50k
• Total Cost: $500k+



Marketing Mix

PR
10%
4% 24% Adwords

6%
Print Advertising
5%
1% Collateral & Demo

Trade Show/Launch Event

Email Blasts

50% Channel Mktg Program

Will this effectively reach your target audience with enough
exposure to generate leads and meet your revenue goals?



ROI Calculation
Enter Assumptions

• Profit per sale
• For each program:
– # Exposures
– % that become leads
– % that close
• Use as basis for
calculating ROI



ROI Results



Product Readiness

• Sales
• Manufacturing
• Operations
• Channel
• Support
• Product



280 Group
Resources
• Free templates and white papers
– 8 white papers
– 12 templates
• PM Job listing sites
• 280 Group Product Management 2.0 Newsletter
• 280 LinkedIn Group
• Product Management 2.0 Blog
• Books
• PMA listings

Go to www.280group.com in the “Resources” section.

42


The 1-Day Launch Plan Intensive
• 1 day session with key stakeholders
• Designed to optimize your launch, prioritize spending,
provide structure and direction to ensure business
goals are met
• Deliverables:
– Launch plan presentation, including
• Gap analysis, recommended marketing mix, recommended
launch metrics, proposed timeline and budget, and more
• Cost: $5,000



Giveaway!!!

44


Q&A
contact@280group.com
www.280group.com
(408) 834-7518

Slides available at www.280group.com/launch.pdf
45

How to Run a High-Impact Product Launch

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