The Planning and Execution of Launching a New Product

I was recently asked by a friend who is venturing into Product Marketing to describe the planning and execution of a new software product. I enjoyed the question so much that I thought I’d write a blog about it. Let’s jump in.

The Business Problem

First, always state the business problem. In early-stage startups, this is almost always an awareness and demand generation problem. In mid-stage startups, it's usually a conversion problem. In later-stage companies, this is usually a retention problem. It could also be as specific as "we're noticing free-trial signups are never converting to a paid account".

No campaign should ever be considered unless it is clear what problem is it specifically designed to solve. 

Let's imagine that our stated business problem is: "we're noticing free-trial signups are rarely converting to a paid trial". Great. Let's devise a campaign to go after that very specific problem. We know where we need to move the needle and the exact metric we’re looking to move. Say, for example, only 23% of free-trials are converting.

Next, let's get creative. 

Utilize Marketing Channels

We have various channels we can take advantage of, such as field, digital, content, partners. Which channels do we think will give us the most leverage? While all channels are important, we want to use the ones that can help with this specific campaign.

I'm going to posit that our customers (developers) prefer not to speak to salespeople and rather enjoy deploying the solution themselves. So, I want to draft a campaign internally titled "Do it yourself". Our tagline is "A solution so easy, even developers can do it".

My channels will include, for example:

• Email

  • Ensure a smooth drip campaign sent daily helping a new trial get up and running

• Freemium

  • Create videos with tutorials showing exactly how to install and deploy our software

• Field

  • Create a hands-on-labs roadshow that hits our major cities. Usually, you want to couple this with either a larger partner (joint marketing) or hot topics relevant to our buyer (e.g. Golang, a hot new vendor).

  • An industry respected guest speaker doesn't hurt

If the customer is converted, they must like your software. If they like your software, they must want more. If they want more, they're probably going to become your champion. 

Execution

I prefer for execution to be broken up into the following hierarchy:

campaign → programs → tactics → offers

To solve the aforementioned business problem, our campaign execution may look something like this:

Campaign: Do it yourself

Tag line: "So easy, a developer can do it"

Programs:

• Email

  • Tactic: Self-service drip campaign to self-install

  • Offer: Free 1-hour consultation with a rep to help answer your questions

• Field

  • Tactic: Roadshow with hands-on-labs sessions

  • Offer:

    • Free enablement on a hot industry topic

    • Thought leader guest speaker

    • Games/prizes

Wrapping it up

Remember the 23% KPI? This is the number you’re watching. Continue to adjust the dials until you begin to see this number increase.

Notice that programs usually correspond to the various marketing channels. Although, I’ve heard the term program and campaign used in so many different ways, I suppose it doesn’t really matter what terms you use. The point is to create hierarchy around your strategy so you understand how to isolate responsibilities and measurements of success to know what is and isn’t working.