product management essentials- successful product launches

Mission ImpossibleSuccessful Product Launches

November 11, 2013

A Quick Definition

We’ll refer to ‘Product Launch’ as the introduction of a new product to it’s market.

The following content can also be applied to a new ‘service’.

We’ll stick with ‘product’ for simplicity.

Why is a launch so important?

Increased Revenues

and Profitability

Increased Brand

Equity and Awareness

Incredible competitio

n these days

Low barriers to

entry

Product Launch OpinionsNo shortage here….

Cautionary Tales

More than 75% of product launches do not succeed1

Number one reason- Poor Planning and

Lack of Preparation

Often afterthoughts.

Completed with limited budgets/

timeframes

No one has been chosen to

oversee the launch

1Harvard Business Review. April 2011.

Common Launch Assumptions

There is a budget

There is time to create and execute the

plan

Business fundamentals

have been observed

Salespeople have been

messaged and trained

And so on…

A Successful Launch is Not Impossible

Plan Implement Communicate Follow Through

Four easy steps will get you there

Have the business fundamentals been

observed?

What is the launch budget and timeline?

Is the right infrastructure in

place?… and so on

Ask the Right Questions!

Plan

What’s the Word?

Expectations

• Just Revenues?• Reach, A New

Market?• Awareness?

Who is (the executive) in charge of the

launch?

What is the project

manager’s role?

What are the expectations of the launch

Have you been called upon to do

the impossible?

Plan

The PM’s Role

You have to ‘manage the message’ way beyond just marketing statements

You are responsible for making sure all the unseen parts of the plan are executed on schedule and within budget

The project manager is central to the successful launch

Product Launches are not just glamorous affairs seen by the public.› They go way beyond marketing› Everything from infrastructure to messaging and

product training must be addressed and accounted for

› Planning is the most critical factor› The company reputation and profitability are

at stake Plan

Plan the Work, Work the Plan

The Project Plan

› The launch plan must be accommodated well in advance. Time and budget for this activity is as important as the product’s development

› Without resources the launch will fizzle. Plan your resources accordingly!

› A ninety day pre-launch plan works really well

Plan

The Basic Timeline90 Days Prior Post-Launch30 Days Prior60 Days Prior

Project on Track?Management- Updates- ApprovalsSales/Marketing- Start Message- Internal/External- Product Descriptions- Establish Pricing- Marketing CollateralFinance- Pricing ApprovalsLegal - Major Issues?- Contracts in progress- Trademarks- ClaimsOperations- Infrastructure NeedsDevelopment- Delays- Issues

Is the Launch Successful?Management- UpdatesSales/Marketing- PromotionsFinance- Revenues and ProfitsLegal- Contracts- TermsOperations- Bandwidth- Capacity AdjustmentsDevelopment- Feedback - Updates- Features/FunctionsLessons Learned

Project on Track?Management- Updates- ApprovalsSales/Marketing- Company Brief- Messages Approved- Collateral Complete- Press ReleaseFinance- Forecasts ApprovedLegal- Final issues- Wording- Contracts- Pricing- Regulatory- TrademarksOperations- Infrastructure in PlaceDevelopment- Product Handoff

Project on Track?

Management- Update- ApprovalsSales/Marketing- MessagingFinance- Pricing ApprovalsLegal- Trademarks- Claims- ContractsOperations- Infrastructure UpdatesDevelopment- Any Big Issues?

Create Expectations

› Here’s where a launch roadmap and discussion with marketing and management will help› Has a plan been developed?› Is the plan sensible?› Can it be done in a reasonable amount of time?› Does the right budget exist?› Are the right ‘metrics’ in place?

Communicate Implement

Who’s InvolvedManagement

Sales and Marketing

Operations

Development

Legal

Finance

Management› Let’s be honest, management isn’t always

thinking about product launches, so:› At the very least make your management team

aware of what is going on› If you can get an executive-level launch

champion, all the better› A weekly email summary is useful

Communicate Implement

Sales and Marketing

› Again let’s be honest, S/M may be looking at other priorities

› So let’s make sure that they think about the launch message

› And Promotions › And Packaging› And Press Releases› And Pricing! Communicate Implement

Sales and Marketing- Price› Establish Pricing

› Does it meet corporate guidelines?› Has the pricing been approved?› Are there approved discounts (if any)?

› Make available sales projections› Approved Promotions› Pricing will affect your profitability!

Communicate Implement

More Sales and Marketing› And Social Media› And the Website› And Literature› Software manuals up-to-date› Training program established

› For your internal staff› And your customers

› And anything else unique to your product, like …

Communicate Implement

Even More Sales and Marketing

› Partnerships- corporate partners aware of the launch and their role in it.

› Partnership promos- Have the right product/sales promotions (if any) been approved?

› Is the right messaging in place?

Communicate Implement

IT and Tech Support› Make you tech support team aware of relevant

changes like:› Upgrade Pricing and Policies› Upgrade Pricing› System requirements and version support› New features and functions› Known issues

› And any additional IT requirements! Communicate Implement

LegalMUST be involved› Contract changes› Product ‘claims’› Particular launch limitations (language used)› Regulatory issues› Changes to warranties and terms of service› Relationship with Partners› Export Regulations

Communicate Implement

Finance/Accounting› Aware of product launch budget› Aware of pricing, upgrade and return policies› Aware of discount policy› Aware of forecasts› Create part numbers/SKU’s and product decriptions if

necessary› Product descriptions are ready to go

Communicate Implement

Operations› Is the product quoted? › Will product be shipped, downloaded?› How to order new inventory› How much inventory to keep on hand

› This is important as it affects corporate profitability

› Does the right support infrastructure

exist?Communicate Implement

Development› Common understanding of ‘what done looks like’› Proper signoffs and product handoffs› Development rarely sees eye to eye with Marketing.

› It’s important to keep these folks aware of implications› It’s also important that they are

acknowledged for the product they have just created

Communicate Implement

Follow Through

Follow Through

Success must be monitored› Can the employees relay the message?› Do extra promotions need to be created?› And are existing promotions effective?› Are leads distributed?› Are sales coming in?› Is Social Media effective?› Infrastructure holding up?

Follow ThroughCommunicate

Lessons Learned

› What worked and didn’t› What experience can be used for the next launch?

The successful product launch is not impossible!

Follow ThroughCommunicate

The Mission Impossible Launch Code

“A Roman general, in the time of Caesar had a motto, “If it is possible, it is done. If it is impossible, it will be done. And that ladies and gentlemen is what I live by.”

- Evel Knievel

Thank You!

Will Casavanwill@aperturepm.cominfo@aperturepm.com

will.casavan- Skype

3525 Del Mar Heights Road, Suite 572San Diego, CA 92130760.931.8197info@aperturepm.comaperturepm.com