What is a Product Launch Strategy?
A Product Launch Strategy is a plan that outlines the steps and activities needed to successfully introduce a new product or service to the market. It includes marketing efforts, product development, and sales strategies to ensure a successful launch and continued growth for the product.
What's included in this Product Launch Strategy Template?
- 3x Focus Areas
- 9x Objectives
- 9x Projects
- 18x KPIs
Who is this Product Launch Strategy Template for?
This Product Launch Strategy Template is designed for leaders and teams from organizations who are launching a new product or service. It provides a structured approach to planning and executing the launch, and helps ensure that all key areas are addressed and measurable progress is made.
How is this Product Launch Strategy Template relevant to your organization?
If you are launching a new product or service, this Product Launch Strategy Template will help you plan and execute a successful launch. By following the structure and guidelines provided in the template, you can ensure that all key areas are addressed and that you are able to track progress and measure success. This will help your organization achieve its goals and drive growth for the product.
1. Define clear examples of your focus areas
A focus area is a particular viewpoint that groups certain requirements set out by an organization. A recommendation from the Cascade team would be to create 4-5 key focus area which you feel are most important to address when creating your Product Launch Strategy. The next step would be to ask yourself: Why is this focus area important to me? What is the benefit of focusing on this viewpoint from a customer's perspective? And, of course, What is the monetary benefit of investing in such a focus area? This process is useful in identifying the key area which needs prioritization which in turn can become focus areas of the strategy.
For example, the focus areas in this Product Launch Strategy Template are: Marketing; Product development; and Sales.
2. Think about the objectives that could fall under that focus area
A strategic objective usually has to be specific and measurable to cause enough impact and effectively explain what you want to achieve.
An example objective that could fall under the focus area of Marketing could be: Increase brand awareness.
3. Set yourself measurable targets (KPIs) to tackle the objective
A KPI is a key performance indicator that is measurable and evaluates the success rate of an organization in relation to the task at hand. KPIs can be very industry-specific or broad and applicable across multiple industries.
An example of a KPI in this Product Launch Strategy Template associated to the objective Increase brand awareness could be: Increase number of ad impressions to 50,000.
4. Implement related projects to achieve the set KPIs
Projects are ways in which the objective can be achieved, but more so, closely tie in with ways in which organizations can make sure they are working towards their KPIs.
A project example for the objective Increase brand awareness could be: Run a social media ad campaign.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Make sure your strategy is front and center with Cascade. You can plan, execute, measure and adapt your strategy in one easy-to-use platform and make sure your strategic plan is connected to on-the-ground execution.
Use this Product Launch Strategy Template and launch your strategy in Cascade; it's $0 forever.