With the tech industry in the UK worth an estimated $1 trillion, there are swathes of super-cool new products coming to the market every single day.
If you’re a product-focused business, it’s important to make your shiny new product stand out from the crowd if you’re going to avoid a flop on launch day. This is especially true during a cost-of-living crisis where consumers are holding onto their hard-earned cash.
If you’re thinking of launching and designing a new product, here’s how to do it successfully.
Why are product launches important?
You wouldn’t release a film without a red carpet-event. So why would you release a product without an adequate launch?
The process surrounding designing, marketing, launching and selling a new product is crucial. Much like a red carpet publicises a new film, a product launch’s success (or lack of it) will probably determine how much revenue you’ll gain from the product.
What are the stages of a new product launch?
1. Research
Firstly, it’s vital that you do your research. Before you can start with your PCB design and prototyping, you need to know all about what the market wants, the gap in the market and what the consumers want.
Without this solid foundation, you won’t be able to adequately design a product that flies off the shelves. Not to mention that without understanding your market, you’ll struggle to market your product to the end user.
2. Design
Once you know your target market and end-user, it’s time to get to work designing a product that your customers will love.
To create a product that your customers want to spend their money on, no corners should be cut during the design process.
If your product is an electronic device, you’ll need use PCB design software to create the circuit board that connects the electrical components of the device, ensuring the electronic function of the product is robust. Then, to top it all off, you’ll need to make sure that your product works from a UX perspective.
3. Marketing
The marketing industry in the UK is worth 33.19bn GBP. And for good reason.
Marketing is the difference between a successful launch and one that makes you want to bury your head in the sand. After all, what good is a brand-new product if nobody knows about it?
To set your product up for a successful launch night, it’s important to spend money on your marketing strategy. Whether you decide to sponsor industry events, create a general buzz on social media or invest in TV ads, you’ll need to find a way to reach your target demographic – and fast.
4. Launch
Now, for the moment you’ve been waiting for!
The launch of your product is the culmination of months of hard work, so it is important to get right. Long before before launch day you’ll need to consider how you’ll unveil the product, who will be able to get their hands on it and how it’ll be distributed.
Then, all that’s left to do is sit tight and wait for the orders to come rolling in.
