Four Pillars for Product Launch
Rick Sklarin and Ling Gee of Crimson Consulting have written an important paper titled “Four Pillars for Product Launch, Best Practices from World Class Companies“.
You invested millions of dollars developing your new product. You followed a tried and true product development process. And you have created significant buzz for the features and functions anticipated in your new product. But have you invested similar resources in your product launch? How do you maximize your chances for success?
Poor product launches cost your company in lost revenue, missed market share gains and diminished competitive advantage. The market moves fast and is not kind to those who don’t execute well.
But many product and marketing organizations still approach product launches as art instead of science. While the entire product team assures the diligence applied to development details is “A” quality, the same cannot be said for the product launch details. Failure to commit enough people, technology, and management results from a lack of understanding of what makes up a successful product market launch.
As a result, many launches don’t achieve expectations for your product’s profitability. In a world of shorter product life cycles, you can’t afford months and years to recover from a launch that falls short or misses the mark.
The paper is to-the-point and doesn’t beat around the bushes. World class companies pay a great deal of attention to product launch planning and execution.
The four most important product launch things they do are:
- Assign dedicated resources
- Don’t Over commit their product
- Implement a scientific launch process (hmmm… sounds familiar)
- Leverage collaboration tools
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