Written by: Kriti Anand
Launching a New Brand: Do It Right!
Launching a new brand is one of the most exciting ventures out there. Your brand is your entry ticket to fame and fortune. And it’s easy to get carried away with visions of your brand’s upcoming success: of your idea taking the market by storm, thriving among its competitors, with recognition and success pouring in for you.
But before you can see your brain-child prosper, you need to brave the waters for at least the first twenty-four months in this highly competitive marketplace. To make sure your company makes a place for itself in the market, it is vital that you execute a well-planned launch. Like Greek philosopher Plato said, “The beginning is the most important part of the work.” Your beginning paves way to where your brand will go.
To make your product successful, make your launch a success. Here are some things to keep in mind when launching your new brand.
Know What You’re Doing. Plan your launch before you execute it. It has to be just right: the product, the way it enters into the market, the timing, the advertisement, all of it. Make sure you know every step of the way, or even the next few steps ahead. Rushing into it can hurt your brand’s chances of making an impact.
Build Anticipation. When you know what you are going to do, figure out how you are going to do it. The world out there is constantly on the lookout for new and exciting brands and offers. Before launching your brand, make them curious about your product or service. A slow reveal, after some teasing, is a great idea to keep people wondering what you’ve got in store for them.
Know Your Audience. The sector you’re about to dive in, the demands of that market, the competition you might face, all of it should be on your fingertips at the time your launch. The way you advertise your product, and create anticipation for it, should be absolutely relevant to the market and prospective clients.
Know Your Story. What are you doing, where do you come from, what inspires you, where are you headed, are some of the questions you will be asked time and time again. Be prepared with the answers. Set clear pointers in your mind and don’t stumble with doubts when launching a new brand.
Identify Possible Obstacles. It’s much easier to fix problems BEFORE the company has started. Keep a keen eye on possibilities of what could go wrong, and prepare accordingly. Before your launch, try to eliminate as many hurdles as possible for your brand.
Be Customer Centric. Focus on what your clients would want from you. Be precise about how you’re better than your competitors. What unique experience or product or comfort do you offer your clients that others don’t? Knowing your strengths and working them can take you places. A few “I’m-new-here” offers for your customers won’t hurt, either.
Keep Tweaking. Keep the next version ready. When launching a new product or brand, you need to keep putting your best foot forward. For that, you need to keep making changes to make your product better as much as possible. When you have just begun, a lack of history can work in your favor. Changes to a product that people have already gotten used to can work against it, but a new product getting better attracts customers.
Be Goal-Oriented. Always, always, always set future goals for your brand before you get started. At the time of your launch, make sure you have in broad strokes where to go next from there. Having a path set in your mind would take some pressure off of making the launch absolutely perfect, which can only be a good thing here.
Finally, keep in mind that your job is to put the puzzle together and define the vision. In the beginning, you will have to micro-manage a little. But don’t lose touch with your role as an entrepreneur. Entrepreneurs can’t always control what they have—but they can control what they do with what they have. Launch your product so that it makes a splash in the market. A good start is half a guarantee of a good end.