Launching a startup product or service can be both exciting and stressful in equal measure. It is often perceived as a juggling act that requires the management of multiple work streams, some of which are executed sequentially and others simultaneously. A large percentage of business launches fail, and those that succeed excel at launch strategy. For a successful launch, you must develop an excellent strategy, campaign, and find the perfect message market fit for your audience.
Product-Market Fit and Message-Market Fit
We’ve all heard of product-market fit, which is the first step in building a successful business where the company meets early adopters, solicits feedback, and gauges interest in its product. It's about having a product that is in demand by the market and able to satisfy its needs. And we hope you have already tested that before you try to bring the product to market.
But what is the "Message-Market Fit" and why is it so important?
Many founders have learned the hard way that you can't have product-market fit without first achieving message-market fit.
This could be a "one-liner" that you use to describe your product. It should allow your target audience to get an idea of what you do right off the bat. It could be the problem you solve or a solution people are looking for. Either way, it needs to pique their interest and encourage them to investigate further.
In our experience, we often meet founders with great teams, lots of experience, and expertise. But at the end of their pitch, they leave us wondering "What are these people doing?" or "What problem are they solving?"
With the right messaging, everything becomes easier. It'll attract the right people to your product, and people who want to be part of your journey.
Your market-driven message shouldn't become your marketing copy. It should help you position your brand, product, service, or startup.
Another type of testing you need to do before launching your product is product testing, using either a prototype or a Minimum Viable Product (MVP).
Early feedback from potential consumers, as well as partners, distribution channels, and even journalists, can reveal problems and potential user issues you were not aware of during your initial market research.
Target Market and Segments
Part of the market research you have already done during the development of your product includes finding out who your key potential customers are.
But there's more to figure out before you launch your startup.
Having a detailed understanding of the customers who could benefit from your product, their shopping or purchasing process, and their habits will help you shape many things, from the features you focus on to how you deliver your marketing message and how to reach them during your launch campaign.
Competitors and USP
Research, testing, and evaluation are essential components of your launch campaign. You now need to analyze exactly what your competitors do and how they market their products. It's important to properly address your unique selling proposition before, during, and after your launch campaign. Let your target audience know why they should buy your product or use your service and not the competition's.
When launching a product, it is important to first determine your objectives. What do you want to achieve with the launch? Setting launch KPIs ensures that your team works together to achieve the desired results. Set specific and measurable goals to gauge the success of your product or business launch. We always advise entrepreneurs to be realistic, otherwise, your self-esteem and motivation will be destroyed and you will have to move back in with your parents.
Strategic campaign planning
After a thorough examination of the product and its position in the market, the next step is to develop an effective marketing campaign strategy through careful planning. This consists of creating a tactical plan that appeals to the target audience while meeting the project's criteria.
Make sure all your social media accounts are ready and content prepared to receive a flood of new followers before you launch your campaign. Use the right channels that appeal to your target audience, otherwise, your friends will be the only followers, whether you post creative content or not.
Make sure all members of your team are on the same page and create a plan that everyone can follow. It is critical that you complete these steps before you begin your launch campaign or you may find yourself lured and eventually lost. A good launch can not only make your product viral but can also build the foundation for a positive team spirit and a strong belief in your company which is the way you can add up to these “unicorn startup” statistics