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Bus110 launch plan


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How to build a launch plan for your product or service. Presented as a guest lecturer in Rashmi Menon's Stanford Continuing Education Course:

BUS 110: How to Start Your Business: From Idea to Business Plan

Published in: Business, News & Politics
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Bus110 launch plan

  1. 1. Business  110  How  to  Build  Launch  Plan  
  2. 2. Starting Place•  Great product launches start with 3 raw ingredients 1.  Initial Product Marketing Funnel 2.  Target Customer 3.  Personas
  3. 3. Initial Product Not the ultimate product or the best product Def. The minimal product needed to get a specific target audience to buy and like the product “enough” to recommend it to others
  4. 4. For Launch Purposes•  Product needs to be defined against multiple dimensions – 4Ps –  Product –  Price –  Positioning / Promotion –  Place (distribution strategy)
  5. 5. Pricing•  Example – Mama Cass – Food truck – 2 sliders for $8.00, 3 sliders for $12.00
  6. 6. Positioning / Promotion•  “In a city glutted with food trucks it can be hard to carve out a niche” – NYTimes –  Gourmet Vietnamese –  Initial promotion focused on food critics who covered street food scene + traditional restaurant critics
  7. 7. Place•  Food truck w/ set travel schedule as detailed on website
  8. 8. Target Customer•  Who you expect to buy your product first and why Convenience   Young  Foodies   Soccer  Moms   •  Age 25-54 •  Age 20-40 •  Age 18 -25 •  Primarily Female •  Primarily Male •  Mixed Gender •  Higher Salaries •  Secondary Ed •  Budget •  Multi-taskers •  Hold Family Dear •  Trendsetters •  On the go •  Tech Savvy •  Educated •  Goal Oriented •  First to go home
  9. 9. Personas•  Description that makes the target customer “come alive” – for you to stay focused on while developing your marketing plan –  Ideally based on market research – i.e. talking to potential customers
  10. 10. Personas
  11. 11. Take all this raw input Marketing•  Market Planning Funnel –  Initial Product –  Target Customer –  Personas
  12. 12. Marketing Funnel
  13. 13. Launch Planning•  What levers do we have to get people into the top of the funnel –  Touchpoints, Influencers•  What are some of the barriers we expect to encounter and how can we overcome them –  Inertia, Near Substitutes, Direct Competition
  14. 14. Launch Plan–  Venue–  Press/Influencer strategy–  Beta & Seeding strategy–  Content Marketing strategy
  15. 15. Venue•  Where/When You Launch –  If you are launching into an existing market, often it is best to launch at someone else’s event
  16. 16. Press/Influencer Strategy•  4 main categories of press/influencers –  Press, Bloggers, Analysts, Mavens•  Your launch plan needs to… –  Identifying who these people are /how best to reach them –  Target dates as to when you will brief them –  Think through the tools each group will need so they can market you
  17. 17. Beta Plan & Seeding Strategy•  Beta Plan –  Identify when you will beta –  Whether an invite will be needed –  Who will get invites to distribute•  Seeding Strategy –  Identify who you will seed and why –  How many seed units you will need –  Consider ethical norms with press vs. channel
  18. 18. Content Marketing Strategy•  Identify the content you will create –  Website, Facebook page, YouTube channel, Twitter page, LinkedIn page – these are basics and are expected•  Beyond the basics – what content do you need to create that will serve as a magnet for potential customers? –  Distribution plan for the content –  How you will make that content findable –  How you plan to reuse / leverage that content in multiple ways –  Call to action – what you want people to do after they get your content
  19. 19. Par>ng  Words  •  About OpenMarketing –  Marketing-driven Business Strategy –  Content Marketing + Inbound Marketing