I grew up in the space race era. When I was a child, there was a time when both the United States and the Soviet Union were trying to outdo the other with technology. First, satellites were sent into orbit around the earth, then monkeys into orbit, then people into orbit, then they sent men to the moon. Eventually telescopes were sent outside of our orbit, we put rovers onto other planets, and recently landed a washing-machine-sized probe on a comet. The initial space race was a thrilling time to be a child because the possibilities of space exploration seemed limitless. But all of that space technology, regardless of its purpose or destination, all shared one crucial element: they had to have a successful liftoff. I remember watching those giant rockets as they fired and thrust the spacecraft into the air. Someone in mission control would be counting down and when the rocket started it would roar and pour out huge amounts of energy to leave the launching pad. The voice of mission control would announce, "We have liftoff!” However, when they failed to launch into space, it was disastrous. Rockets burst into flames and fell burning back to earth. These massive structures would explode as they broke apart. People lost their lives when the liftoff failed.

Launching a new product is like those space rocket liftoffs. Without the initial push of marketing, your new product does not have much of a chance. If you are thinking of launching a new product or service this next year, it would be good for you to take note of the components of a successful product launch before you begin to decide what marketing methods you are going to use. Many times people fall in love with the marketing method (like coming up with a clever slogan or creating an ad) before they take note of the components of a successful launch. There are three I would like to highlight for you.

Know your target market

To whom are you trying to sell your product or service? Before you can launch, you must know who will buy your stuff. If you think everyone is your target market, think again. Unless you are selling the air that we all breathe, there are groups of people that are more prone to buy from you than others based on their need or desire for your products or services. Don’t launch your product until you know your target market.

How will your product be sold?

Once you know who you are selling to, get to know them. Understand their likes and dislikes, their attitudes towards certain sales methods and what they value. Once you know the group, choose your marketing method that fits the group. For instance, here is a case study on one of our clients and the launching of a life insurance product. It was being sold to senior adults and it was being presented to them by a face-to-face encounter with an insurance agent. Why didn’t we try to sell this product online? Because the target market would prefer not to use a computer. They don’t value the technology that speeds up a transaction and makes buying convenient when you purchase something online. For them, it is not convenient. They want a meeting with a person. They would prefer to have a human being to talk to when being sold. They want someone to do all the paperwork in front of them and then they will sign a document, pay with a paper check, and shake a hand when the transaction is completed. If we were selling Millennials the same product, you would use a different method. Here is a clue: if you choose the method before you understand how it will be sold, you will most likely fail at liftoff.

What is the competition doing?

Do a competitive analysis. How are the other companies who are competing with you trying to market their products and services? Pay attention to what they are doing, but do not copy what they are doing. You need to be unique. That includes your marketing message, the creative part of marketing, the approach you take to the market. If you copy your competition, there is no distinction between you and them in the mind of the customer. And since you are just now launching, the competition will beat you because they were there first. Find out what they are doing so you can differentiate yourself from them. Successful launches standout from the crowd.

Keep in mind that liftoff is only the first step, but it is crucial to selling something for the first time. Without a successful launch, you are doomed to disaster. Plan well before you try to sell.

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Photo of Apollo XI launching courtesy of NASA