By Ivan Zografski
The tech industry is rapidly emerging. Statista estimates the 2019 total tech spending worldwide at $3.36 billion. And although the industry is overcrowded with tons of different products, the potential is still huge. New products are emerging every day.
Launching a new product can be very difficult. No matter whether you’re launching a new app, a new software feature, or a complete software-as-a-service (SaaS) offering, every product launch requires its own strategy so it gets introduced to the right people.
A lot of marketers say launching a new tech product is more tricky than launching a physical product, and I would say that’s true. Digital channels make it easy to get a new tech product out, but it can be tough getting someone to notice your new app among the many others already available.
If you are planning to launch a new tech product, there are two things you first need to know:
1. Your product. Before you do anything with your product, you need to be sure you know it well. You must know its characteristics, features, and capabilities. If you’re planning to sell from your website, how many users can your website handle? What do users find on your site, and is your site user-friendly so users can easily find what they’re looking for? These are things you need to know before you start to prepare your campaign.
2. Timing. Timing is key to a successful product launch. There are many entrepreneurs who get overly excited about their products and can’t wait to release them. If you launch before you’re ready, mistakes can occur, and if you leave a bad impression with customers at the beginning, it’s very hard to change public opinion later. Moreover, if you’re product is related to a certain season, you need to think about the right time of year to release it. For example, you wouldn’t want to release a line of swimming suits in the middle of the winter.
Now that we’ve covered these essentials, here are key areas to be aware of:
1. Human capital is crucial
Before you start creating a launch strategy, it’s very important that you have your team in place. First, the technical team is the core of your company, so make sure you choose experienced developers with the right skills who can write clear and consistent code—the quality of your product depends on it.
The leadership team, project managers, marketing department, and sales staff are also important. Marketing will play a huge role in the product launch, so make sure you have knowledgeable people who know how to take advantage of and promote the product’s strengths. You may also outsource your marketing to an outside agency that has experience with product launches.
The most important characteristic all team members should have is flexibility. During a new product launch, there can be many updates and changes, so your staff will need to be able to adapt to new situations and make modifications based on the new circumstances.