When Should You Launch You Product | SMH Branding
You've created the killer product that will change the beauty industry. Now you need people to buy it. When is the right time to launch a new beauty product?
As a business and marketing educator, I hear that question often. Like everything in business, the answer is not a simple yes or no. It’s highly dependent on who’s asking and what product they are selling, and it comes with a string of “ifs,” “ands,” and more than a few “buts.” The shortest possible answer would have to be “it depends.”
There’s no scientific process for determining the best time. With your beauty product ready to launch, the exact time of the year, month, and even week you choose can make a difference.
Plan your launch so that it’s not conflicting with a major political event. Definitely don’t launch around Election Day unless your product is specifically tied to this event or a holiday like Labor or Memorial Day when everyone will be away at the beach with their families. This only works if your product is specifically tied to a vacation/beach theme like a sunscreen. The key is to avoid days or weeks in which people have reasons not to buy, either because they’re too busy, or they’re financially stretched like around Christmas and Thanksgiving.
If you’re an emerging brand looking to strike out hot, it may be challenging to stand out and get noticed in all that holiday noise. Consider launching in January and February where you’ll have more space to grab the attention of influencers and customers alike.
In addition, the day of the week for your launch day matters as well. For example, Monday is not a good day for a product launch. Consumers are too focused on the coming week, with its responsibilities and expenses, to be in a buying mood. Fridays are problematic, too. The weekend is coming, and people are in social mode, not consumption mode. Therefore, mid-week, from Tuesday to Thursday, is statistically the best time. Not as overwhelmed as on Monday, but not as carefree as on Friday, consumers are in a headspace conducive to a purchase.
Most importantly your ideal launch time will depend on YOUR own schedule. Schedule the launch when you have as little going on as possible, so that you can devote the needed time and energy for the launch. Don’t plan a product release on your anniversary, or your kid’s birthday, or during the season finale of Insecure.
If you can, try to schedule the launch when both your personal life and your business have as little going on as possible, so that you can devote whatever time and energy will be needed to the launch. It makes sense to focus on product launches over other considerations. You only get one shot at a successful launch! Expect glitches, customer service issues, and other unpredictable demands on your attention. It’s important to have all hands on deck, and yourself at the helm, ready to execute the launch with 100% presence.
Tips To Set Up a Perfect Product Launch
There are conditions you need to meet to have a successful product launch.
1. Know Your Target Audience
A common mistake companies make is skipping the research that should be done when deciding whether or not to even introduce a product to the market. Building your world-changing product is just the beginning. Knowing your target audience and its care-abouts is extremely important. If your answer to the question, “Who are you targeting?” is, “Everyone,” you’re facing an uphill battle. An effective way to help narrow down your audience and plan marketing activities accordingly is by creating and using buyer personas.
2. Keep It Simple
Buyers need to know exactly what they are signing up for. A clear and simple message allows them to understand the product and, more importantly, make the decision to buy. If your product offering is not clear and concise, forget about it. "Will this product help with dryness, will it tone my skin or will it make my curls 'pop'?" People want clarity and they want it quickly.
3. Create Goals
Your business goals will serve as your map and help you stay on track during your launch day; checking in consistently on how each action supports a goal ensures you are using your time and resources wisely.
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Clearly and effectively establish new product name, brand, and position
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Build awareness and credibility for the new product and the company
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Create immediate opportunities for sales
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Extend awareness and strengthen the product/company brand through partner co-marketing with influencers
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Execute a benefits-oriented launch that addresses the learn, try, and buy purchase phases. For example video tutorials on how to use the product.
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Cross-sell new product to existing customer base as your beauty brand grows.
4. Prepare Early
No matter how unsexy they are, every business needs contingency plans. Don’t think that what happened to others won’t happen to you. Tasks will take longer than expected. Something will come up. There is nothing more stressful than juggling too many things at once, so start early. Build in time for the unexpected, and you’ll be glad you did. Once you have established your personas and the activities you’ll use to reach them, it’s helpful to create a project timeline. Product launches often require months of advance preparation, so these timelines are critical to ensuring you stay on track.
5. Create a Buzz
When buzz is generated, people will research your product and business. Make sure what they see is very good. Have existing customers or staff write blog posts and create videos to enhance your search results. Promote these on your website to generate more revenue during your launch.
5. Follow Up
Following up is a key component of a successful product launch. Sooner is better than later, but late is better than never. Know your audience, the best ways and times to contact them, and then add value.
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