Three Vital Components To A Successful Product Launch

There is but one opportunity to make a first impression, so a go-to-market (GTM) strategy doesn’t just need to be good. It needs to be “world-class”. Most organizations have few products and services, so planning and executing a product launch is not a competency they easily develop. Engaging a top GTM strategy expert can lower risk and help a company to build a sustainable competitive advantage from the first step in the product lifecycle to its last. Here are three things to consider when preparing to launch a new product…
 

Impartial Market Research

Unbiased market research is a key component to any successful product launch. These experts are skilled at asking the right questions to reveal what really matters to the buyer community. Internal product and marketing team members slant their questioning to validate the product rather than the need. The responses they get can lead to false assumptions when defining the target audience needs, buying behaviors, and the competitive landscape. A third-party GTM expert has more flexibility and greater access to gather facts directly from buyers and competitors. As a result, they can perform market research that accurately reflects how a product should be positioned in the market.
 

Strategic Channel Strategy

Identifying the most effective channels for reaching and selling new products to customers is regularly overlooked by launch teams. For example, you might choose to sell directly to end-users, through a network of partners, or through an online marketplace. The channel strategy can have a significant impact on early sales growth and profitability for a product. An outside GTM expert can define a comprehensive channel strategy that drives a sense of urgency and alignment with the overall business objectives. 

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Streamlined Launch Plan

The length of time allotted to launch a product can be key to its success and even define its position in the market post-launch. But most organizations lack the tools, processes, and techniques to rapidly develop a GTM strategy. They often underestimate the collaboration required of marketing, business development, sales, and customer success in supporting a product launch. Leveraging an outside GTM advisor can help develop the right go-to-market strategy, streamline the launch plan, and dramatically reduce the time required to launch your new product to the market.

 

In conclusion, augmenting your team with an expert go-to-market strategist can make all the difference in the world. By conducting impartial market research, defining a strategic channel strategy, and having a streamlined launch plan in place, you will dramatically increase your chances of success in achieving your desired market position.

 

Need to prepare a go-to-market strategy for your upcoming product or service launch? We can help.

 

Motum is a market leader in revenue performance consulting, working with clients from large enterprises to entrepreneurial organizations across five continents to create sustainable revenue growth and develop an “unfair” competitive advantage for the long term. Please connect with us on LinkedIn and get services details at www.motum-us.com.