How to Run a High-Impact Product Launch

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission How To Run A High-Impact Product Launch Brian Lawley CEO & Founder, 280 Group LLC ™ Author, Expert Product Management Author, The Phenomenal Product Manager Slides available at www.280group.com/launch.pdf Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission About This Presentation • Teaches best practices for Product Launches • Part of the 280 Group Product Launch Toolkit™ Other files in the Product Launch Toolkit: Templates Guidelines Samples Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Agenda • Background • The Value of a Well-Executed Launch • Types of Launches • Setting Goals • Critical Elements of a Successful Launch • Best Practices • Giveaway! • All examples in presentation are fabricated • Templates are available in 280 Group Product Launch Toolkit at www.280group.com Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission About the 280 Group… The Product Marketing & Product Management Experts ™ Consulting ● Contractors ● Training ● Certification● Books ● Templates Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Value of a Well-Executed Launch • Provide initial momentum to ramp sales • Give you a competitive edge • Provide early information about necessary course corrections • Helps your company reach it’s goals while providing a good ROI Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Launch Goals • Generate leads – How many and by when? • Drive revenue – How much and by when? • Set the competitive argument – Against who and on what scale? • Create initial awareness and buzz – With whom and how much? – What vehicles (press coverage, marketing, ads, etc.) • Get the product into customer’s & partners hands – How many? – Why? Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Product Release Cycles Release 1 Long Release Cycles (Major New Product) Release 1 Release 2 Release 3 Release 4 Release 5 Release 6 Short Release Cycles (Minor Product)* 1 month N Years * Common with SaaS and/or Agile development Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Types of Launches • Long release cycles: Major new product – “Soft” launch – Minimal launch – Full-Scale launch • Short release cycles: Minor product* – “Soft” – Minimal Which type you choose depends on your goals, budget, resources and amount of time until the launch * must be combined with ongoing marketing Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Soft Launch • Product not fully ready • Deploy to limited set of customers • May not have funds or resources • Ship date & product uncertainty: minimize risk • Get the product out and get quick feedback Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Soft Launch Downsides • Little or no revenue • No press coverage or market awareness • Inability to recover • Spend much more on marketing later Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Minimal Launch • Unimportant product or minor revision • Funding and resources limited • Not enough time to plan & execute • May accidentally have a minimal launch – Don’t know how to plan and execute a full-scale launch – Unrealistic assumptions about viral and/or word of mouth • May want to target one market segment: use $$$ effectively • May want to use influencers or evangelists to get your message out vs. direct $$ • Many of the same downside as a soft launch Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Full-Scale Launch • Maximizes awareness • Generates many leads/sales • Puts the product/company on the map • Uses marketing $$$ more effectively: Synergy • Can go horizontal or multiple verticals • Gives product best chance of success Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Choosing The Type of Launch Soft Minimal Full-Scale Launch Launch Launch Short Release Cycle √ √ Long Release Cycle √ √ Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Elements of a Successful Launch • Clear Goals • Planning • Communication • Timing • Effective marketing mix • Compelling messaging • Budget to achieve goals • Message reaches target customers • Product readiness Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Launch Plan Components • Summary • Features & Benefits • Purpose of this plan • Price • Market Overview • Place & Channel • Key Market Trends • Marketing Strategy • Launch Goals/Objectives • Marketing Tactics/Promotion • Target customers & needs • Launch Budget • Market segmentation • Marketing mix & metrics • Product • Expected ROI • Ship date/Window of Opportunity • Action plan/deliverable ownership • Positioning • Rough Timeline/Schedule • Tag line • Key decisions remaining Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Market Segmentation • Markets can be segmented differently • Consumers – – Demographic (age, sex, income, etc.) – Psychographic (lifestyle or mindset) – Vertical (e.g. interest, expertise, etc.) • Businesses – – Firmagraphic – Vertical • Overall – – Needs, characteristics, behavior Which segments you choose will determine what marketing programs, messages and activities you use to reach the target. Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Marketing to All Parties Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Communication • Internal – Launch Plan presentation – Weekly launch team meeting • Track deliverables • Clarify blocking issues • Assign action items – Bi-weekly email to executives • External (at appropriate time) – Channels – Key Customers & Influencers – Press Analysts Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission One Page Product Overview • All critical details “at a glance” • Eliminates having to repeat information • Keeps team on the same page • CYA with Executives Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Ideal Launch Timing • Marketing/PR hit the day the product is available • Sometimes announce before availability • Continued programs/reviews to keep momentum (3-6 months) • Set a goal and work backwards – Ideal: start planning and work 6 months prior to ship date • Worst case: announce too early – Customer attempts to purchase but isn’t able to – May purchase competitive product – Unable to get coverage when becomes available – Lose mindshare with press & customers – Take pre-orders but can’t fulfill – Strong embargo w/ press & employees Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Press & Analysts Launch Timeline Analyst & Press Program Page 1 of 1 Apr May Jun Jul Aug Sep Oct TASK 2 9 162330 7 142128 4 111825 2 9 162330 6 132027 3 101724 1 8 1522 Analyst Activities Kickoff/bi-weekly meetings Set up analyst meetings Finalize analyst list (1 friendly, 4 add'l) Calls to analysts to set up mtgs Prepare briefing & review materials Presentation First draft Internal Review Final version Final modifications to rev guide Press kits Set up test/review accounts First meeting with "Friendly" Analyst Modifications to materials/messages (if necessary) Meeting w/add'l 4 analysts Check in on analysts/relationship building Press activities Prepare press briefing materials Long Lead Press Briefings Short lead time briefings Product ships Review activities First 3 Friendly Reviewers Second phase of reviewers (8-12 total) Third Phase of Reviewers (8-12 add'l) Final Phase of Reviewers/Stragglers Weekly "Friendly" Check-in calls Press Coverage Dailies Weeklies Monthlies Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Marketing Mix Components • PR activities • Channel programs – Press tour – Spiffs – Review program – Retail presence – Analyst coverage – Reseller purchase program – Digital pressroom – Collateral • Advertising • Promotions – Print/Radio/TB – Rebates – On-line Banners – Introductory prices • Direct mail – Comarketing – Customer list • Collateral – Purchased lists – Brochures • Email campaigns – White papers – Customer list – Success Stories – Purchased lists – Sales Tools • Website – Demos – Search Engine Optimization – Video testimonials – AdWords/Yahoo/MSN • Trade Shows – Blogging • Launch Event • Viral & Guerrilla Marketing • Webinars/Seminars – Blogs/bloggers • Social Media programs – Online forums Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Social Media • Appropriate for certain launches • Target audience are social media consumers • Product is viral, and requires little explanation • Social media is a natural extension of the way the company would communicate Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Social Media Caveats • Not a magic bullet • Requires well-thought-out strategy • Consistent effort – takes a LONG time • Choose carefully – Blogging – Twitter – Facebook – LinkedIn – MySpace, Friendster, country-specific – Youtube – Podcasting Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Social Media Synergy & Leverage • All efforts combine to make a greater whole • Coordinated effort within company • Example – Blog post – On Facebook fan page – Tweeted out – Status update on LinkedIn – Content used email newsletter Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Effective Marketing Mix • Consistent with target customer’s buying behavior • Synergistic • Above the “Bar” to meet goals • Provides effective ROI • Combination of: – Awareness creation – Demand generation – Conversion of leads • Establish meaningful metrics by marketing category Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Compelling Messaging • Positioning • Long/short/1-sentence Elevator Pitch • Features & Benefits • Unique Selling Proposition If possible test your messages before launching your campaign to make sure they hit the mark! Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Positioning Process • Develop product positioning based on key differentiators • Validate with customers and channel • Refine positioning based on research results – Hone positioning statement – Develop matrices – Develop product tagline – Write top features & benefits – Develop messaging and 25, 50, 100 word product descriptions Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission XY Axis Positioning Chart Competitor 1 Product Main Advantage 2 Name Competitor 2 Competitor 3 Main Advantage 1 Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Matrix Positioning Chart Affordable Competitor 1 Product Name Competitor 2 Months to deploy Days to deploy Competitor 3 Expensive Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Positioning Statement For [target customer] who need to [primary need], [product name] is a [product category] that provides [feature 1], [feature 2] and [feature 3]. Unlike [main competitor], [product name] delivers [main advantage 1] and [main advantage 2]. Example: Apple TrueType “For all Macintosh users who need to always have crisp and clear fonts, TrueType is a font rendering technology that provides smooth fonts, great printouts and built-in operating system support.” The tag line for TrueType was: “Great Type, Anywhere, With Ease” Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Messages, Features & Benefits • Messages: 25, 50 100, 250 word descriptions • Features & Benefits – Talk to your customers about benefits, not features. – Try to keep it to five – Use the “…,which means that you can…” technique (see features & benefits article) Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission USP: Unique Selling Proposition • One short hard-hitting sentence • Conveys the essence WHY choose your product • Memorable & repeatable • Supports positioning & tag line Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Budget • Depends on type of launch • Possible ranges – Soft: $10k – Minimal: $50k – Full Scale: $500k and up • Key: Overall mix funded to meet goals • Rule of thumb: – 5%-20% of expected revenue – > industry average for annual marketing of similar products Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Soft Launch Sample Budget • Collateral: $5k • Adwords Campaign: $4k • Press release via PR Newswire: $1k • Guerrilla activities via in-house staff • Total: $10k Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Minimal Launch Sample Budget • Collateral & Demo: $10k • Adwords Campaign: $4k • Press release via PR Newswire: $1k • Email Blast via purchased list: $10k • Channel marketing program: $25k • Guerrilla activities via in-house staff • Total: $50k Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Full-Scale Launch Sample Budget (Pre-launch + Three Months Afterward) • PR Firm for 6 months: $120k • Adwords Campaign: $5k • Print Advertising: $250k • Collateral & Demo: $25k • Trade Show/Launch Event: $30k • Email blasts to purchased lists: $20k • Channel marketing program: $50k • Total Cost: $500k+ Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Marketing Mix PR 10% 4% 24% Adwords 6% Print Advertising 5% 1% Collateral & Demo Trade Show/Launch Event Email Blasts 50% Channel Mktg Program Will this effectively reach your target audience with enough exposure to generate leads and meet your revenue goals? Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission ROI Calculation Enter Assumptions • Profit per sale • For each program: – # Exposures – % that become leads – % that close • Use as basis for calculating ROI Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission ROI Results Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Product Readiness • Sales • Manufacturing • Operations • Channel • Support • Product Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission 280 Group Resources • Free templates and white papers – 8 white papers – 12 templates • PM Job listing sites • 280 Group Product Management 2.0 Newsletter • 280 LinkedIn Group • Product Management 2.0 Blog • Books • PMA listings Go to www.280group.com in the “Resources” section. 42 Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission The 1-Day Launch Plan Intensive • 1 day session with key stakeholders • Designed to optimize your launch, prioritize spending, provide structure and direction to ensure business goals are met • Deliverables: – Launch plan presentation, including • Gap analysis, recommended marketing mix, recommended launch metrics, proposed timeline and budget, and more • Cost: $5,000 Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Giveaway!!! 44 Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission Q&A contact@280group.com www.280group.com (408) 834-7518 Slides available at www.280group.com/launch.pdf 45 Slides available at www.280group.com/launch.pdf ©2007 to 2010 280 Group LLC. All rights reserved. May not be distributed without prior written permission

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How to Run a High-Impact Product Launch

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How to Run a High-Impact Product Launch — Presentation Transcript