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Launch Strategy

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Launch Strategy

This template worksheet can be used by you and your team to develop the launch strategy for the product. It is important to identify the key elements and then plan them accordingly.

Twitter:

@PratikkCMehta⁠

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Introduced at

https://www.linkedin.com/company/producttankpune/⁠

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Some precursors

Use it as one of your working documents where you would continue to go back to it when your product development or feature development moves forward.

The idea is to capture the essential information and use that to devise your launch tactics

The document will help you give you a direction on your launch strategy

When you are on a budget, you REALLY need to plan your strategy from the very beginning.

Note:

This is a strategy document and does not track your KPIs at each stage.

After every stage, in a real-life scenario, you might want to come back to the document and make revisions for your next stage

There is no concept of time in this sheet since it varies from product to product.

Each stage takes its own time.

For example: Soft - Launch for a product could take as long as short as 1-2 months to 1-2 years depending on the success, work and scope of the product

There is no concept of team in this sheet since each company structure varies with respect to size, hierarchy

There is no concept of prioritization because this will vary from organization to organization

Company Name:

Company Category:

Pre-Launch

Problem 🔍

Write down the problems that you have identified in the market in 3-5 bullet points. **** For multi-sided platforms like B2B2C, capture problems from B2B and B2C****

Persona ✨

Mention the persona’s and describe in 1 single line that you are building the product for **** For multi-sided platforms like B2B2C, capture persona’s from B2B and B2C****

Product 🔓

Features **** For multi-sided platforms like B2B2C, capture features from B2B and B2C**** Write down 3-5 features of the product in clear concise points (it should be use case wise)

Benefits **** For multi-sided platforms like B2B2C, capture benefits from B2B and B2C**** Write down 2-3 benefits of the product with respect to 1. TIME 2. COST 3. REVENUE 4. EXPERIENCE

Monetization **** For multi-sided platforms like B2B2C, capture features from B2B and B2C**** Mention 1-2 monetization strategies for the product Advertisement Transaction/Platform fee Premium or Freemium

There are no rows in this table

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Soft-Launch or Beta Launch

Market 🐣

Demand Write down 1 segment of the market in the demand side 1. By Size (Individuals, Small Business, Large Organization) 2. By Geography (Metros, Tier-2, Tier-3) 3. By Demographic Profile (Age, Gender, Employment)

Supply ***Not Applicable for B2C & B2B*** Write down 1 segment of the market in the supply side 1. By Size (Individuals, Small Business, Large Organization) 2. By Geography (Metros, Tier-2, Tier-3) 3. By Demographic Profile (Age, Gender, Employment)

After your beta launch, you will have some learning that you want to incorporate before your big bang

There are no rows in this table

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Big - Bang (glossary available below)

Strategy 🚀

Push Write down 1 strategy that you want to use to push the product? Example 1. Run large marketing campaigns 2. Roadshows 3. Seminars

Pull Write down 1 strategy that you want to use to pull the customers to the product? Example: 1. Partner with an existing ecosystem 2. Seeding 3. Incentivize the marquee users 4. Single-sided strategy 5. Influential strategy 6. Bottom-up approach

Channel 🎙️

Online Write down 1 channel that you want to use to attract the customers first 1. Social Media 2. Communities (PH, Forums) 3. Traditional Comm (Email,SMS)

Offline Write down 1 channel that you want to use to attract the customers first 1. Offline Media (TV, Radio) 2. Conferences

There are no rows in this table

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Post-Launch (Glossary Available below)

Metrics 📈

Acquisition Write down the key metrics that you have for acquisition Registration Metrics (Demand/Supply) Unit Metrics for Cost (Acquisition like avg cost for first transaction)

Commitment Write down the key metrics to understand usage and retention Conversion Metrics Illiquidity Metrics or Quality Metrics Value Creation Metrics or Experience Metrics Volume Metrics

There are no rows in this table

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Happy to hear your feedback twitter:

@PratikkCMehta⁠

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Glossary

Push Strategy -

It is a marketing strategy where you inform customers about your product in a market when a demand for a product does not exist or is extremely low and you use novel marketing tactics to attract customers to purchase your product. Example:

Large Marketing Campaigns for mobile phones today are push strategies to increase demand of a product

The emails that you receive in your inbox from various services providers to tell you about their product and services are push campaigns

Pull Strategy

A marketing tactic where customers get attracted to your platform because of the benefits it provides to them and they end up becoming your evangelist to grow your business. This usually helps you create network effects in your business

When a user tells you about a product that they are using or send you a referral to use the product, it is called as a pull strategy

When I transfer money into your wallet that does not exist, and you are forced to come to the platform to create one, that’s a pull strategy

Partner with an existing ecosystem

Partnering with an existing ecosystem is where there are users who are active in the platform and you are partnering with them with a use-case that will increase value of their business.

PhonePe, GooglePay, Paytm’s integration with various businesses have made them huge marketplaces today

Seeding

An acquisition tactic where you seed the initial data into your platform to attract users to use it. Example:

Youtube owners created their own POV videos and shared them over email to attract users to come to the youtube platform to create their own videos

Quora owners wrote a lot of Q&A on their platform and shared them over various blogging, community networks to attract users to come to their platform and become Q&A experts.

When google launched the android smartphone OS, it seeded the platform with developers by offering them a reward of 5$ million dollars for best apps in various categories

When Adobe launched PDF business, they created various government tax documents in Adobe PDF format in partnership to make it ubiquitous

Incentivize the marquee users

Identifying early adopters and incentivizing them to become your evangelists to grow the platform.

Running referral programs to rewards users for using the platform

Making users refer your product to others and reward them for that.

Google Pay’s famous reward program that rewarded you for every transaction was a really big booster to get the early adopters onto the platform and take the responsibility to get other users.

Single-sided strategy

Build products and services for one-side that will take the responsibility to forcing the customers to use the platform

Opentable did for restaurant business

IndiaMart and Udaan did for Suppliers and retailer business

Influential strategy

This is a lucrative strategy, where you can use influencers or influential events to be the first people to use the platform and attract other users to come to the platform

Twitter’s usage spiked at SXSW when users were promoting or providing real-time commentary about the event

Youtube’s growth spiked when it started posting clips from various famous shows onto their platform.

Limited-seats Strategy

Lately becoming a popular strategy, a lot of businesses are taking this approach to grow the platform slowly. It creates excitement and buzz for the customers

Cred famous strategy to limit the entry to their rewards platform

Acquisition Metrics

Metrics that you will track to understand acquisition numbers in a given time-period. This will help you build estimates about the quality of your launch strategy and help you navigate.

Commitment Metrics

Commitment metrics are necessary to understand the usage of your product. This will help you understand if the product is retaining the users, giving great customer experience or are there improvements that need to be made

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