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If I was responsible for creating growth opportunities by leveraging new products or services that gave me access to stacks of new customers per month, here’s what I’d do:
7 Steps to Creating Breakthrough Growth with a Launch
1. Create a product roadmap
I’d map out all the problems my customers and prospects are grappling with and the industries they’re in, then I’d list all the ways my products can help them solve those problems.
This is a simple, uncomplicated list, not a fancy pants document. Over complicating it misses the point. It can also be one product.
Then list them in order of priority ie. biggest problem to smallest or most market ready to least market ready.
Hint: it’s a great way to share your vision and engage with customers and prospects.
2. Talk to my customers
I never assume I know the problems my customers are facing or what their biggest challenges are so this is when I would do something outrageous…
Pick up the phone and start talking to people.
Shocking, I know 😉
You’d be surprised how few people do this. They just go off and create something no-one wants or needs.
I want to know if my list of perceived problems and products aligns with what my clients are experiencing and I’d ask them for advice and feedback.
3. Fix the problems, plug the critical gaps, protect the IP
Customers will nearly always tell you where you can improve something, if you’ve missed something important or what they really need.
Now I have the information to create a market-ready product, so I fix the problems, plug the critical gaps and start talking to legal — to make sure I’m not giving away the farm.
4. Get ready to go to market
I like to use a timeline. Working backwards helps clarify the best time to launch and how much time is needed to prepare, or if I need to freak out that Christmas is only 16 weeks away…
Plotting all the key information into my timeline gives me a nice little go-to-market plan. This includes key resources, operational requirements, stakeholder considerations and comms and a launch date etc.
5. Build a lead list
The thought of selling something or building a lead list scares a lot of people, so I find it helps to think about it a little differently
– Who is this product going to HELP?
First up, I look at who I already know, who the team is engaged with and LinkedIn Sales Navigator.
6. Launch
I would then also send out a news release, launch post, EDM, newsletter etc.
I am always mindful of capacity to deliver so this step is based on that.
The last thing you want is to break the business with demand you can’t fulfil. Although waitlists can be quite handy if they don’t get too long.
7. Follow up
This is one of the most crucial steps, yet people always run away once they launch.
You have to remain front of mind and you do this with following up.
I would call people, offer demos and gather more feedback – for the various iterations that will come. Think ChatGPT 3.5
It can be hard to do this on your own. As someone said to me recently, “You can’t operate on yourself.”
If you’d like help setting your business up for success, I’d love to hear from you.
Or if you’ve been thinking about this for a while, just give me a call and we’ll bounce some ideas around – 0400 033 937
It really is a great time to be talking to your customers and launching new products and services.
Nina
PS. I’m talking about this because we’re working with a number of clients at the moment to help them work through these challenges and get the clarity they need to set their businesses and teams up for a phase of phenomenal growth in FY25.
We’d love to help you too.
PPS. My eBook has a bunch of strategies for engaging new markets. Download it here – Strategies for Growth in Uncertain Markets