Prioritizing a Product Launch: Essential Steps and Expert Insights

When it comes to launching a new product, prioritization is key to ensuring a successful release. Industry experts weigh in on the best strategies for prioritizing a product launch, from understanding customer needs to measuring success. In this comprehensive guide, we will delve into the essential steps and expert insights to help you prioritize your next product launch effectively.

1. Understand Your Target Customers

Before you can prioritize your product launch, it's crucial to have a deep understanding of your target customers. As Esther Yoon, Vice President of Industry and Product Marketing at RingCentral, explains, "Write a mock PR to have a clear understanding of the message you (and your team) want to land." By understanding your customers' pain points and needs, you can craft a compelling message that resonates with them and sets your product up for success.

2. Align Your Product Launch Goals with Business Objectives

Emily Ritter, VP of Marketing at Mode, highlights the importance of aligning your product launch priorities with your company's overall objectives. She suggests focusing on three key areas:

• Delivering a product or feature that customers actually want
• Positioning your product in a way that appeals to the right audience
• Achieving higher-level business goals, such as increased revenue or market share

By aligning your product launch goals with your company's objectives, you can ensure that your efforts are contributing to the overall success of the business.

3. Tier Your Launch Activities

Lauren Craigie, Head of Product Marketing at Cortex, emphasizes the importance of tiering your launch activities. She believes that "everything is a launch" and suggests categorizing each launch component into different tiers based on its importance and impact. This approach ensures that even small updates or bug patches are documented and communicated effectively to customers and internal teams.

4. Test, Learn, and Validate Your Launch Strategy

Adam Weigand, Director of Product Marketing at Coinbase, recommends testing and validating the core components of your go-to-market strategy before launch. He suggests using qualitative and quantitative methods to gather customer feedback on value propositions, positioning elements, and key messaging pillars. This process allows you to refine your launch strategy based on customer insights and minimize risk.

5. Be Comfortable with an Iterative Launch Plan

As Weigand also points out, it's essential to be comfortable with an iterative launch plan. Involve cross-functional collaborators early in the process to pressure-test your assumptions and ensure alignment across the organization. By investing in this upfront collaboration, you can avoid last-minute scrambles and make necessary adjustments before the launch date.

6. Establish Clear KPIs and Measurement Criteria

Ryan Van Wagoner, Senior Director and Head of Marketing at Forethought, emphasizes the importance of establishing clear KPIs and measurement criteria for your product launch. By partnering with data science and engineering teams, you can build tracking mechanisms and reporting dashboards that help you monitor the impact of your launch efforts and determine whether your tactics are successful.

7. Develop a Comprehensive Launch Plan

Van Wagoner also suggests developing a comprehensive launch plan that includes:

1. Nailing the messaging and positioning
2. Creating a list of deliverables, such as internal and external content and customer involvement
3. Building a timeline with specific activities, deadlines, and owners
4. Establishing a regular check-in cadence to ensure alignment and progress

By following these steps and incorporating expert insights, you can prioritize your product launch effectively and set your product up for success.

Conclusion

Prioritizing a product launch is a vital aspect of ensuring its success. By understanding your target customers, aligning your goals with business objectives, tiering your launch activities, testing and validating your strategy, embracing an iterative approach, establishing clear KPIs, and developing a comprehensive launch plan, you can prioritize your product launch effectively and set your product up for success. By incorporating these expert insights from Esther Yoon (RingCentral), Emily Ritter (Mode), Lauren Craigie (Cortex), Adam Weigand (Coinbase), and Ryan Van Wagoner (Forethought), you can be confident in your product launch strategy and achieve the desired results.