8 Tips to successfully launching a new B2B product or service.

The lifeblood of any B2B company is in its ability thrive in perpetual motion. In a broad sense, any company that doesn’t seek to continually improve its business will not keep its doors open for long.

As part of your improvement process, you’ll doubtless be offering new products or services as your customers’ needs change or you acquire new customers

And if you’re in startup mode, you’ll be launching your business — along with your products and services.

Whether you’re launching a new product or service that will be the very foundation of your startup, or you’re augmenting your established business with a new product or service, you want the launch to be a success.

Let’s talk about how to launch a new B2B product — and do it successfully!

8 Tips to Successfully Launch a New B2B Product

As we talk about launching products, we’ll include services as part of our definition. Both product and service launches require a great deal of careful planning and execution.

1. Determine the Demand

Before you even proceed with developing your product, you need to determine if there’s actually a market for it.

42% of startups fail because there is no need for their product. ~ CB Insights

Remember that you’re launching your product, not into a vacuum, but into a sea of new offerings. What makes your product stand out? Does it fulfill a need or solve a problem for your customers?

Even if your product can improve someone’s life, is there a market for it? Remember what’s a boon to you may not be a benefit to your customer.

2. Time the Release Properly

Your product could be the latest and greatest, but if you launch at the wrong time, you may not get a a skewed response.

What sort of events could signal that you should wait to release your product?

  • Major world events and catastrophes
  • Holidays – national and regional
  • Season (especially if your product is season-dependent)

Although your launch date may be triggered by a particular event on a set date, you don’t need to force full exposure until the timing is right.

“The biggest problem driving [failure] is a lack of preparation for the promotion phase.”~ Max Clark, Marketecture

3. Use Beta Testing

If possible, conduct a beta test on a specific audience before your launch. Even better, find influencers who are willing to test your product and provide reviews. Keep in mind that this will likely cost you, as nearly all influencers expect compensation for this type of work.

However, having an influencer’s testimonial when you’re ready to launch your product may be a giant key in its success. So don’t shy away from pursuing brand influencers.

4. Make Your Product Come Alive

View your product as a living entity. It needs support in order to keep alive. You can provide this life support in the form of:

  • Q&A fact sheets
  • Videos
  • Infographics
  • Tutorials on your blog
  • Demos

Not everyone learns in the same way. Some of us are more visual, while others learn best with audio, and still others need a hands-on experience. So don’t limit your product launch materials to one type of media.

5. Make Your Product Enticing

What can you offer prospects to entice them to try your new product? Can you offer a free trial? A limited-time subscription discount?

At this point in the game, you want to flood your audience with incentives for choosing your product over another.

6. Make Your Product Launch a Process, Not an Event

Holding a launch party and sending out a press release does not constitute a well-rounded launch.

Rather, it should be an ongoing event. This means you’ll need to continuously trickle information to the media regarding your product. Certainly, a press release is in order, but after the press is aware, you need to feed them other information, such as beta customer stories and influencer reviews.

Paid social campaigns should be a part of your process even months after launching. And your home page should prominently feature your new product for weeks and months to come.

7. Don’t Overcomplicate Your Product

You’ve spent countless months, or even years, studying your product. You know the ins and outs of it and you can freely use technical jargon when speaking about it.

However, your audience is being exposed to your product for the first time. Keep your explanation of it jargon-free so that its value is readily apparent. Think of how you would explain it to a family member who knows little about your business.

8. Don’t Fear Change

If your launch isn’t going the way you expected, don’t be afraid to adjust as needed. If you’ve set a huge budget for paid social promotion and it’s just not yielding results, examine your campaign and make needed changes. This may mean even pulling back and allocating your money elsewhere.

Launching a new product is an exciting event in your brand’s history! I hope that these tips will also help you to make it a successful one.

What suggestions have you found to be in helpful in a successful product launch? I’d love to hear all about them in the comments below!