How do you think about product launches for big strategic bets, when the product isn't "there" yet?

Everything is a trade-off discusssion. If you launch a big bet before a product is "there" there will be risks, but if launching the product comes with acceptable risk and you can still hit the metrics you want to hit, you can do it. I've recently stolen this durable decision framework and find it excellent. As a product marketer, we're rarely the sole decision-makers on whether to push the launch button. But if you want to drive alignment around the launch, this is how I would approach.   

DURABLE DECISION FRAMEWORK
- Goals: Why are we doing this?
- Assumptions: What facts, constraints, and projections are we assuming?
- Options: What are the different choices? What are the pros and cons?
- Decider: Who is responsible for making the decision?

Most of these decisions the Product Manager, Engineering Manager, or even the Commercial Director is the Decider. Build them options vs trying to convince them of one avenue and you'll build a stronger relationship, and you may come up with a better solution with the trade-offs.  

I can so relate to this question! One of the things I've grown more comfortable with over time is the idea that if we wait until something feels truly "fully baked" then we probably aren't moving fast enough! This is especially true if you've got longer sales cycles. I used to be really uncomfortable with that, but I think there are a number of ways to mitigate risk. Here are some of the things I think about:

• Can I phase the launch or roll out? For example, is there a pilot I can do with a subset of my customers, or is there a segment or sales team I can start with before rolling it out to everyone?
• How might I put guard rails in place? For example, when it comes to deal qualification, is there an approval or review process we can implement for early deals? 
• How can my messaging and enablement efforts drive excitement, without overselling? For example, with my sales team, articulating the vision while making it clear that the product only solves for 1 of the 3 use cases right now.

One of the things I always try to include in prepping for a launch is a slide or document that frames up the risks because it gives you a channel for escalating those. So if, in fact, you feel like the company is out significantly over its skis, you should definitely raise it!

We've all had to launch products before they're fully baked, and while it may be nerve-racking, you can think of the exercise more of a market introduction rather than a traditional product launch. You might want to focus on building awareness and credibility through top-of-the-funnel assets like whitepapers and infographics that speak to the market landscape and the use cases that your in-development product is setting out to tackle. Setting the groundwork with any 1st or 3rd party research about what prospects might want or need plus any adjacent customer testimonials or case studies will also help lay the groundwork for your product. If you have any beta or early access customers, getting them lined up as references as soon as you go launch will help you build credibility. Depending on how not "there" the product is, it may be very difficult to create more tangible artifacts like demos, walk-through videos or even screenshots and you'll have to set expectations with stakeholders that those assets are entirely dependent on baked product. Don't over-promise or over-extend yourself and your team, be realistic and pragmatic about where the product is (and isn't) with internal stakeholders and, if relevant, external partners. If this product is meant to be sold through a managed sales team, approach enablement with the same transparency and pragmatism - make sure account teams know where the product is (and isn't) so they don't put themselves in a bad place with customers. There's always tons of self-created internal pressure to get product out the door yesterday, but the market rarely appreciates or rewards things that are half-baked. As the PMM and launch captain, you have to balance the two to enable the best possible outcome for your company.

It sounds like this conversation is around pre-launching products that need to go live to further the company or portfolio's narrative among your customers, or other key opinion formers in your space.

I believe you can only launch a product once. Pre-launches are tricky because you get one splash, but you know you're going to try to make news again when the product is ready. Here's my general flowchart on the key actions I take.

1. Understand the goal of the launch: Pre-launches are exciting when they go well, but can be a risky move to the credibility of your company. Start by getting the facts about the launch - who is it for, why now, what does success look like - from different parts of the organization.

2. Interrogate the product readiness: Sit down with the product and engineering team and dig into the product. Is the launch going to be a customer-usable product? A demo? A video? Slideware? And what are the dates, and confidence around those dates, to get to something that can be used in the hands of an actual user?

3. Form an opinion: You are an expert in your market and your products. To achieve the goals desired, and knowing the product readiness, build an opinion of when / where / how you want to launch. Should the product go live to a large audience or a small one to start? Should it be priced or free? Should you wait until it's been tested with some users?

4. Pitch your opinion and come to a resolution: Align with stakeholders - execs, sales/support, comms, product, legal etc. - to either sell them successfully on your perspective or to come to a new conclusion based on new data that you have. Either way, these cross-functional meetings (and documentation!) will serve as a backstop on whatever you end up doing for launch.

5. Set expectations on what is needed to continue to make news after your pre-launch. Do you need to have metrics on the number of users? Do you need a big brand to use the product? Do you need to see an expansion of features or other types of availability opened up?

Once you get to launch, set the right expectations with your customers. While you are trying to launch "ahead," you are still responsible for the credibility of your company to your customers. Be accurate about what the product can do, where it can be found, who it's for, and when it will be ready for use.

And, finally, put your landing/momentum launch plan into action once the product is ready.

It's fairly common to launch a product before it's baked. In my experience, PMM should drive the launch but bring in different teams within marketing at different stages of the product's maturity. Here's how I've done this in the past at each stage of the product -

1. Ideation - this is largely about bringing your customer insights back to your product teams and ensuring they're building what's relevant for your audience. as the industry and subject matter expert, your guidance is critical in influencing product teams to build what's best for the majority of your audience, and something that your sales team will be excited to sell. Start coming up with a plan for pricing and packaging during this time.

2. Beta phases - when you have a working version of the new product ready, bring in friendly customers to test and provide feedback. IMO, this is also where you should start to

   -create top of funnel content relevant to the product launch - not necessarily about the product itself, but the problem you're trying solve with it

   -begin enable your technical sales team (SEs) and Customer Success Managers on what the product is and why its important, and the roadmap/timeline for release

   -socialize more broadly with industry analysts

   -webpage dedicated to the product - create whatever content you might need to support this webpage

   -start formulating campaign themes related to this product area

3. MVP - this is your time to make the big splash, don't wait

-PR announcing the availability of the product

-DG events and programs specific to this launch

-kickoff your email campaigns and make sure you have variations for top vs mid/bottom of funnel. include ABM tactics here

-if you have a big event around this time, make a big deal out of it at the event

-announcement on your blog

-enable all your field teams

4. GA to all customers

   -you're already launched by now, but continue with digital promo, field events and programs, continuing to enable your field teams and customers on product updates, and about 3-6 months after the MVP launch, measure everything you did in #3