Six product launch lessons for founders and startups.
One. Launch is a terminal event. No, it is not.
It is neither the beginning nor the end. it is a series of overlapping sequences. The sequence includes pre-build, pre-launch, launch and post launch.
Two. One launch sequence is not enough. You need to do more. You need to do more because the objective of launch sequence is to generate a stable flow of orders.
To get to a stable flow of orders is one of the most difficult asks in the world. You will remain in this infinite sequence of launch sequences until you achieve flow, or you run out of funding and runway.
Three. Given a choice of launch formats — rave parties over reunions? Conferences over up close and personal events ? Which one would you choose?
Ask yourself which of the above formats starts conversations with your customers?
For me rave parties are an analogy for conference circuit. While the conference circuit has its place in terms of education, intelligence gathering and finding out what competitor is doing, the format is not a good choice for broke and hungry founders.
Four. What do bankers pay for? We built many products for the banking industry over 18 years. Some did well some did not. The ones that did not do well, the ones that fell flat on their face, the one that were total disasters, were products that we built without doing field interviews with our customers.
Products that generated millions of dollars in revenues, were built on a foundation of field interviews.
Why field interviews? They helped us validate our customer profiles. Not just who, what or when but most importantly how much and under what conditions.
Make sure that you have validated the profile of your customers before you commit to a launch sequence focused on them. How do you validate a product concept?
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Five. A good launch sequence relies on relevant content. If your content is not aligned with customer profiles, to their pain, challenges, and issues your launch sequence will misfire.
Six. When it comes to generating coverage and exposure given a choice between a one-day flood or a drip feed model, opt for the drip feed model. Rather than generating and posting coverage and exposure right at the start or right at the end opt for a model where you spread it out.
If your launch sequence is 90 days make sure your exposure and coverage plan is in alignment with those 90 days. Don’t do everything at the start or in the middle or in the end. Spread it out. Why?
Because the step between conversion and customer is bridged by familiarity. Consistent, positive, relevant exposure breeds familiarity. In the sales and marketing world customers buy from people they like, people they trust.
To build trust you need familiarity. To build familiarity you need exposure relevant positive applicable exposure. Relevant to your customers. Not to your product features or technical attributes.
Remember the flow equation. Exposure leads to conversation leads to connections leads to conversions leads to customers leads to orders.
Stay relevant, start conversations.
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I recently gave a short talk on Product launch lessons from school of hard knocks for founders at 021Disrupt. Here is the summarized conclusion (last two minutes) from that conversation. For the extended cut of the chat (36 minutes) see:
