Your tech product launch can spur sales and drive you toward success or end in dismal failure. The planning stages are some of the most crucial steps in releasing something new into the world. The best way to ensure you don’t miss any customer touch points is to go step by step.

Start with ideas, add buyer personas and develop a marketing plan to get the word out about how your device solves problems. Here are the stages to take you through your tech product launch from beginning to raging success. 

1. Refine Your Idea

According to the Massachusetts Institute of Technology, around 30,000 new products hit the market annually, but only 5% succeed. One reason for the staggering number of failures is small businesses without the buffer to take a huge hit should they make a misstep.

A large corporation can afford to absorb a bad decision or two. Unfortunately, a mistake from a smaller brand can mean extinction.

Take the time to make your product the absolute best it can be. Refine the idea until it is the most valuable item of its kind. When you think it is better than any others, add even more value.

2. Conduct Market Research

Before considering a tech product launch, conduct thorough research in your general market, specific type of product and customer base. The more you know about your audience, the more likely you’ll succeed in marketing your brand to them.

Some research is ready for you through various companies conducting surveys. Other types of data may come from customers you already have, common sense, social media posts and your competitors.

Today’s computers can take information from various sources, mesh it together, and spit out a report or predictions to help your launch be more successful. Take advantage of the growing abilities of AI to improve what you do. 

3. Find Marketing Events

Experts recommend hybrid events for those wanting to market via promotional gatherings. Around 70% of marketing events today are hybrid or fully virtual. The fabulous thing about online conferences is that you can tap into their existing audiences to get the word out about your new tech invention.

Look for events that already attract your target audience. For example, if releasing a new device gives gamers an advantage, you might jump online for a presentation in a virtual meeting put on by a hobby club.

Once you do your market research and fully understand your target audience, you can decide which events match your needs. You can also host a gathering and let people attend at no charge. Offering something of value to users puts your brand name in the stratosphere. 

4. Encourage Collaboration

A tech product launch has many moving parts. Encourage collaboration between different departments and freelancers to ensure you catch and fix errors before releasing your idea to the world.

Online meeting tools, such as Zoom, Slack, Google Meet and private direct messages, help everyone stay on the same page and accomplish tasks more efficiently. You can even use a project management tool to ensure nothing gets overlooked. 

5. Design a Display

Researchers found around 80% of buying decisions are made as the person stands in front of the product. Before releasing your new item, consider if it will be for sale in retail establishments. If so, how will you display it to grab consumers’ attention?

Take the time to go into big-box retailers and see how competitors display their products. What colors do they use? Are the items on a shelf or in a display box? Figure out how to make yours stand out. What would grab your attention if you were looking for something similar?

Add pops of color. Consider how the display looks from a distance and up close. Will people walking past stop and check it out? You should work to engage them in any way possible for higher sales figures. 

6. Know Your Unique Value Proposition (UVP)

Your UVP is what makes your tech product different from others on the market. If you’ve poured time and energy into developing an excellent item, you’ll have something that makes you stand out.

Your UVP might be an added feature, warranty or customer service. Whichever angle you choose in marketing, ensure it is something consumers care about. The UVP should be what matters to the consumer and how it impacts them. Share how it solves a pain point better than anyone else can.

7. Set SMART Goals

Setting objectives shows what you should achieve within a time period. One way to do that is to break things down into SMART goals. SMART is an acronym that stands for:

• Specific
• Measurable
• Achievable
• Relevant
• Time-bound

Take the time to work with your team and write out goals for sales, marketing, adaptations and other key indicators you’d like to track. The more you can drive down into highly specific areas, the more likely you’ll achieve your objectives. 

Expect a Successful Tech Product Launch

Set the expectation that your tech product launch will be successful. When everyone works toward a measurable goal and knows the markers for achieving it, they’ll likely find solutions to move the needle where you want it to go.

Be open to creative new ideas to get the word out. Reward employees, and don’t overlook those who do the grunt work daily and are reliable and consistent. Team effort will help your brand gain recognition and grow your company.