What’s a product launch plan? Everything you need to know

What is a product launch?

A product launch means a company releases a new product into the market, shares it with a target audience, and articulates its value to prospective customers. Product launches typically build to momentous launch days or launch moments, and they can continue as a company rolls out follow-up campaigns or efforts.

Though product launches are common, they can take lots of different forms. A company might launch a new product or service at a live event, on social media, in a press release, or with some combination of all of these. Successful product launches generate buyer interest and buzz, which stokes sales. 

Without proper planning, a product launch can fall flat, generating no interest or attention. Worse yet, it can backfire, tanking market interest and undermining months or years of product development. That’s why launch planning is key to creating the right first impression. 

What is a product launch plan?

A product launch plan coordinates the timing and development of a launch. It tracks everything from strategic components (like messaging strategy and marketing campaigns) down to tactical components (like assigning roles and responsibilities for each step in the plan). A launch plan should include elements like approval and review workflows, task sequencing, task drivers, and more. The goal is to align every stakeholder around planned pre-launch and launch activities, when they’re happening, and the ways in which each teammate is expected to contribute.

One of the biggest misconceptions about a product launch is that it ends with the launch announcement. The launch date is, no doubt, a huge company milestone—but it’s rarely the last step in generating internal, partner, or customer awareness. Planning for post-launch analysis and success measurement is just as important as planning for the announcement itself. 

What are the most common types of product launches?

There are generally three types of product launches: soft, minimal, and full-scale. Before you create a product launch strategy, decide which option fits your launch needs best. 

• Soft: A soft launch means launching a new product to a limited group of people—potentially without any announcement.It may seem odd to introduce a new product or service without drawing attention to it, but it’s a tried-and-true approach in industries like software as a service (SaaS). For example, you might schedule a soft launch to get feedback from a small group of users, then tweak your messaging accordingly before a big announcement.

• Minimal: A minimal launch is a lean, streamlined launch that you can execute with limited resources.Say you’ve upgraded an existing product, or added new functionality that users requested—but you haven’t fundamentally changed the way your product works. A minimal launch can strike a balance between communicating those improvements to customers while minimizing time and budget spent on the launch itself.

• Full-scale: A full-scale launch is what a marketing team dream: a go-to-market plan that elevates your brand, builds market share, and heightens your company’s reputation. In a full-scale launch, you pull out all the stops. You might stage a live event, create a launch video, build a new landing page, or run a webinar, using every channel at your disposal to share the news. 

How do you successfully launch a product?

Now that you’ve familiarized yourself with the three types of product launches, the next step is to plan it. Consider including the following best practices. 

1. Set clear, actionable goals

In any product launch, the key is to set SMART goals: goals that are specific, measurable, attainable, relevant, and time-bound.  

Using a collaborative tracking platform, you can assign roles, responsibilities, and deadlines to give every member of the team a clear understanding of their role. SMART goals, paired with clear communication, are the hallmarks of a strong product launch plan. 

2. Observe and measure the entire user experience 

The product has been in development for months, the team has given you the green light, and it’s ready to share with the world. But in reality, you’re not just launching the product. You’re also launching everything that surrounds and supports it: your contact forms, customer service queries, support articles and training, as well as the user journey on your website. Build in time to test every facet of the customer experience during your launch. 

3. Nail your product messaging 

Create a story that establishes your product’s core value proposition, and make sure that messaging is consistent in all launch materials. 

What customer problem does the product solve? Explain how and why it solves the problem in a unique way. If the product is the latest in a family of solutions, explain how it elevates or reflects your brand’s core values and embodies a longstanding commitment to your customers. Appoint one person whose job it is to make sure those product marketing points are communicated effectively in launch messaging, and that launch messaging is consistent on all channels.

4. Don’t wait until your product is perfect 

As Reid Hoffman, co-founder of LinkedIn, once said: “If you’re not embarrassed by the first version of your product, you’ve launched too late.” 

That doesn’t mean you should push to launch the day after you’ve stood up a minimal viable product. But waiting to perfect your product before launching it is a luxury that today’s market rarely allows. 

That’s especially true for digital products. If you know the current version of your product provides real value, it’s best to launch it sooner than later.

5. Find the right tools to facilitate your launch 

A product launch plan isn’t just a roadmap or a checklist for your team to complete. Capturing your launch plan in a collaborative tracker empowers every teammate to take charge of their tasks, and keeps team leaders up-to-date on every aspect of the launch. When you’re choosing a tool to facilitate your launch, the key is to choose something that suits your workflow—not a tool that predefines it. 

Every organization, every team, and every product launch is unique. Find a tool that you can customize to your workflow, and can integrate with your existing tool stack to simplify execution. 

4. Don’t wait until your product is perfect 

As Reid Hoffman, co-founder of LinkedIn, once said: “If you’re not embarrassed by the first version of your product, you’ve launched too late.” 

That doesn’t mean you should push to launch the day after you’ve stood up a minimal viable product. But waiting to perfect your product before launching it is a luxury that today’s market rarely allows. 

That’s especially true for digital products. If you know the current version of your product provides real value, it’s best to launch it sooner than later.

5. Find the right tools to facilitate your launch 

A product launch plan isn’t just a roadmap or a checklist for your team to complete. Capturing your launch plan in a collaborative tracker empowers every teammate to take charge of their tasks, and keeps team leaders up-to-date on every aspect of the launch. When you’re choosing a tool to facilitate your launch, the key is to choose something that suits your workflow—not a tool that predefines it. 

Every organization, every team, and every product launch is unique. Find a tool that you can customize to your workflow, and can integrate with your existing tool stack to simplify execution. 

How to build a product launch plan

Product launch plans help you navigate a noisy, competitive online environment and a constantly evolving market. Internally, they have to satisfy a wide range of stakeholders—from teammates executing individual tasks to leadership giving it the green light. 

While there’s no universal formula for creating a product launch plan, you can sidestep unnecessary friction by including these key elements:

• Executive summary: Highlight key components of the launch plan, including topline messages, business objectives, and measures of success

• Product description: Explain what the product is, its key attributes, why it was created, any relevant market research, and how it solves your customers’ challenges

• Target audience/personas: Identify and categorize your intel on your target customer, including demographics, buying tendencies, preferences, preferred channels, and more

• Key product messaging: Spotlight your product’s primary selling points, like market differentiators and your customer value proposition  

• KPIs: Share the ways you’ll measure the success of the product launch, like revenue gained, media mentions, brand awareness, customer engagements or other metrics

• Important deadlines and checkpoints: Identify the milestones that will make or break your launch, like product availability, asset creation, budget approvals, and communications 

• Core team members: Identify key players, like product managers and members of the product team, who will help make your launch happen

• Marketing channels: Explain your basic marketing strategy: where and how you’ll spread the word about your new product or service 

• Deliverables: Outline exactly what you want the product launch team to produce, including press releases, blog posts, videos, and tweets

• Budget: Detail some (or all) of the key investments you’re making in your product launch

The perfect template for your product launch

To create a memorable product launch, careful planning is key. You’ll want time to craft and revise details like deadlines, budgets, KPIs, and more. A great product launch plan can help you get the buy-in you need, ultimately rolling out a product launch that speaks to your customers and wows the crowd. 

Ready to start planning? Jumpstart a successful launch plan with our product launch template. Using the template, you can track deliverables, assign task drivers, visualize your plan in a handful of different ways (like Kanban boards or calendars), and keep stakeholders like sales teams and others updated on your progress.