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How to Organize a Product Launch

Imagine having your product launch coincide with being successfully presented on social networks, TV and printed media! How to Organize a Product Launch.

Published

3 years ago

September 29, 2019

Tracey Clayton

Ask anyone in the business and they will tell you, the product launch is the busiest and scariest time of the year. Not only because anything that can go wrong will probably go wrong, but it is a month’s worth of work slapped in just a few days.

It is also an exciting time, when the company presents the very thing they have been working on for the first time to the public. To be sure this time of stress and joy passes successfully, you should prepare well. And here is how.

Table of Contents

1. Calendar is your friend

In order for everything to go smoothly, you need to work with a set schedule, a long time in advance. Your launch date should be decided as long as a year ago – it is never too early to start preparing.

And in the build up to it, there are so many things to be done. First comes the release of information, slow and deliberate, because you want to keep the press and the people interested over a longer period of time.

You need to keep in touch with your affiliates and partners, keeping them abreast of the situation. Finally, you need to promote the actual launch day, while at the same time worrying about the goods or services reaching their destination where they will be available at the exact time and in large enough quantities. Sounds simple, doesn’t it?

2. Make sure the product/service is ready

There is probably only one thing worse than missing your launch date and that is for the product to not be good enough or have some sort of defect at launch.

In order to escape this unfortunate situation, you need to be aware of its quality at each stage of the development leading up to the launch date.

You might want to look the other way when you realize there are some negative sides or potential problems with the product, but you mustn’t, if you want a successful launch.

It is better to push it back for a few months if need be than it is to launch an unfinished product that will not satisfy anyone.

3. Don’t forget about the market(ing)

Is the market ready and willing to receive your product? On the one hand, it is a question of the right time to come out with what you have cooked up – perhaps the public has no desire for it, perhaps the competition already has successful products of similar nature.

Picking the right time based on market research is important. On the other hand, it is also the question of your marketing team putting in the effort. Make sure you have covered all the bases, from social network campaigns to TV, radio and newspaper ads.

Find proper professionals for your promotional materials, such as high-quality printing norwest experts, and make sure everyone knows about your product, presented in glorious high-definition, both online and offline.

How to Organize a Product Launch

4. Try things out and ask around

One more thing before launch day – don’t trust just yourself, ask the experts. They might find some design flaws, but that is exactly what you want, a way to improve the product before launch.

Remember that you need to supply the product to various opinion-makers and influencers before the actual launch day – wouldn’t it be great if what they got was the best possible version of the product.

Imagine having your product launch coincide with being successfully presented on social networks, TV and printed media! This is why it is important to iterate until the last day – you never know when the big eureka moment might come and the product finally comes together.

5. Be ready when the day comes

Bad things will happen. This is not a premonition, it is just the way things are – no launch is without hitches. It is important to be ready and to have contingencies already in place.

Get more people than you think is necessary – you will thank us later. Everyone will be working around the clock and they should have people ready on standby, because you never know how long the first day could be. Most importantly, set your expectation at a realistic level.

Don’t sell yourselves short but don’t go off thinking you’re hot stuff without actual numbers to back that up. Make sure you do your best on the launch day and there will be no regrets.

Business

How small businesses can overcome their supply chain challenges

Here are six tips to help your small business overcome its supply chain woes. Staying in control with effective supply chain management.

Published

2 days ago

October 3, 2022

TwinzTech

Increase Your Income Streams with These Three Remote Business Ideas

Managing a supply chain is difficult for every business. Small businesses may have fewer supply chain requirements, but they also don’t have the financial clout of big operations, which suppliers are understandably willing to move mountains for.

Smaller businesses need to use their size to their advantage when dealing with supply chain challenges. While big companies are locked into mega orders and negotiating long-term partnerships, small operations can be nimble in the face of a dynamic market.

Here are six tips to help your small business overcome its supply chain woes.

Table of Contents

1. Always pay on time

It may be obvious, but the first tip is always to pay your vendors in full and on time. Small businesses have enough supply chain issues to deal with. You don’t need to make new ones for yourself.

Manage your cash flow efficiently and keep track of all your payments. This way, you’ll ensure you don’t come into conflict with suppliers and end up paying interest or even potentially ruining business relationships and reducing your options moving forward.

Plenty of payment methods are available for small businesses to better organize accounts payable, including Automated Clearing House (ACH) payments that completely remove the need for cash or checks. Other benefits of ACH payments for your small business include scheduling payment dates and recurring payments, effective cash management so you can hold onto funds for longer, and reduced transaction fees.

2. Identify risk areas

Supply chains are often complex, containing a series of components critical to business operations. Make sure your small business has a clear and comprehensive list of everything it needs, along with multiple suppliers capable of sourcing each piece. Identify any potential risks in your supply where you may only have one or two viable sources.

It’s easy for small businesses to fall into the trap of finding a single supplier that handles everything they need and leave it at that. Unfortunately, this puts the fate of your business in the hands of one vendor. Any problems they have delivering their products is now your problem. There is no reason to introduce this level of risk to your operations, and a much healthier way to run your business is to always give yourself multiple supply chain options.

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You never know if a specific product might become unavailable at short notice. However, as a smaller business needing lower quantities, you can use your agility and develop relationships with multiple suppliers. Try to find entirely separate vendors in different locations that do not work with the same manufacturers.

3. Stock management

Keeping track of your existing stock is critical regardless of the size of the business. You need precise numbers for everything you currently have in stock and estimates for current usage in order to restock in time and never is left short. Accurately forecasting demand is critical for businesses to effectively manage their stock and protect themselves from unplanned product shortages.

While it’s not always possible due to budgetary constraints or storage capacities, if you have a volatile supply chain, there are benefits in trying to increase your inventory levels. In particular, this applies to critical components that are harder to come by. You can do this by bulk buying when you have the opportunity or seeking financing options to invest more into your inventory.

4. Simplifying your supply chain

While it can help to offer a wide range of products, this places additional strain on your supply chain. More products mean expanding your supply chain, dealing with more vendors, and more complicated logistics. Where possible, remove or combine products to simplify your supply chain and save yourself time and headaches. Even larger companies are streamlining the products they offer, consolidating operations, and building supply chain resilience to limit future disruptions.

5. Managing logistics

Even once you source everything you need, you still have the logistical challenge and costs associated with getting it all delivered. With rising fuel prices, logistics costs are snowballing, and small businesses need to work hard to rein in the cost of moving their supply chain products. This may mean making larger orders from fewer suppliers to save money along the way.

6. Use supply chain tools

A range of supply chain tools can help businesses stay on top of their operations. While it may seem like overkill for your small business, Supply Chain Management (SCM) software can help you track inventory, manage logistics, and create a comprehensive real-time database of all your supply chain information.

Staying in control with effective supply chain management

Having steady, reliable, and fast access to everything your business needs is one of the most challenging parts of running a business. Unfortunately, even the biggest and most well-equipped companies in the world have supply chain struggles. But, by using your size to your advantage and identifying multiple sources for each type of inventory, you can remain in control even when inevitable supply chain mishaps occur.