The launch paradox: product manager’s secret to success

Product launches can fail for many reasons, often rooted in the complexities of the market and the intricacies of product management. One common issue is inadequate market research and understanding. In a study by CB Insights, 42% of startup failures were attributed to a lack of market need. This highlights the importance of thoroughly assessing market demand and customer preferences before the launch. Another critical factor is poor timing, as a report from Statista shows that 13% of product failures result from launching at the wrong time. An overly competitive landscape can also lead to failures, with 19% of startups cited in CB Insights’ research failing due to competition.

Moreover, a disjointed team can be detrimental, with 23% of failures attributed to having an insufficient squad in the same report. Lastly, post-launch monitoring and adaptability are crucial. The Harvard Business Review indicates that 95% of product launches fail due to the inability to adjust to evolving market conditions and customer feedback. In summary, product launches fail due to a lack of market alignment, poor timing, intense competition, team-related issues, and the absence of post-launch adaptability, all of which can be addressed with careful planning and continuous market vigilance.

Product managers invest enormous time and effort into creating a new and captivating product that they can introduce to the world. Launching a product can be a nerve-wracking experience for these teams, representing the culmination of several months of hard work and innovation. 

As experienced product managers, we know that achieving success in product launches is not a matter of luck or fate but rather a meticulous process that requires foresight, planning, and precise execution. In this article, we intend to leverage our expertise and industry knowledge to help you navigate the intricate path toward a successful product launch.

Pre-launch

Clear goals and objectives:

To ensure a successful product launch, product managers must meticulously address several critical considerations for setting clear goals and identifying the customer and their pain points. First and foremost, defining a crystal clear purpose for the product is paramount. This goal should be SMART – Specific, Measurable, Achievable, Relevant, and Time-bound. Without a well-defined objective, the product team may lack direction, making success metrics ambiguous. 

A clear goal can increase user engagement by 20% within the first six months after the launch. This guides the team and provides a benchmark for measuring success, allowing product managers to make data-driven decisions during and after the launch.

Timelines and milestones for the roadmap delivery

As your product enters the execution phase, planning product milestones is essential to ensure a successful launch. These milestones should be well coordinated and realistic, especially for public launches. Achieving this requires alignment with cross-functional teams and stakeholders. It’s crucial to involve stakeholders early in the process and set clear expectations for each dependent team. 

Setting clear milestones before the launch is essential. This helps to monitor progress and ensure that the launch operation  is on track.

Cross-functional teams and stakeholder alignment

Maintaining cross-functional relationships and keeping everyone well-informed is crucial to the success of a product launch. Each team brings unique expertise and responsibilities in a cross-functional product development environment. Without clear roles and effective communication, there’s a risk of misalignment, duplicated efforts, or, even worse, critical aspects of the launch being overlooked. This can result in delays, increased costs, and a lower quality product.

Additionally, it allows for early identification and resolution of potential bottlenecks. Successful cross-functional relationships and open communication are the foundation for a smooth product launch. One method we prefer is to conduct weekly check-in meetings with all stakeholders involved in the development, training, deployment, and launch. This will allow the teams to be aware of the progress and identify and mitigate any risks ahead of time. Have a launch checklist and milestones listed on your project tracking tool or confluence page where everyone can view the updates.

Pre-launch testing

Various types of testing are essential throughout the development process to ensure a smooth and bug-free product launch. Some common types of tests that a product team should conduct include – but are not limited to – unit testing, integration testing, functional testing, usability testing, compatibility testing, performance testing, and security testing. 

Beta or pilot testing should commence after initial internal testing and debugging. Depending on the product’s complexity, it typically starts several weeks to a few months before the official launch. Commonly, beta testing lasts for around 4-6 weeks, but it can vary based on the project’s scope and requirements.

Beta testing by big companies typically involves selecting a subset of users to access and use the product or feature before its official release. The goal is gathering feedback, uncovering bugs, and assessing real-world user reactions. The percentage of users selected for beta testing can vary. Still, depending on the company’s strategy and objectives, it is often a small portion of the user base, typically ranging from 1% to 10% or more.

The duration of beta testing can vary widely based on the product’s complexity, the need for feedback, and the company’s objectives. It can last from a few weeks to several months. For example, in late 2021, Netflix conducted a beta test for a feature that allowed users to control the playback speed of content on the platform, enabling users to control playback speed from ordinary to slower (0.5X or 0.75X) or go faster (1.25X and 1.5X). They allowed this test and availability only on smaller screens, such as Android and iOS mobile phones, tablets, and laptops. In contrast, they restricted testing or launch on bigger screens, such as televisions, to address the concerns of content creators. The duration of this particular beta test was around three months. This extended period allowed Netflix to collect substantial user feedback, assess the impact of the feature on content consumption, and fine-tune it before a wider release.

Top companies often view beta testing as an integral part of the product development cycle. It’s an opportunity to validate the product’s readiness, ensure it meets user expectations, and fix any issues. The insights gained from beta testing play a crucial role in shaping the final product and enhancing its quality.

Post-launch

Marketing for awareness

An effective product launch hinges on a well executed marketing strategy that creates buzz and anticipation for higher adoption rates. As a product manager, early collaboration with your PR team is essential to raise awareness. Harness various channels, including social media, content marketing, influencer partnerships, and PR, to generate interest in your product.

When collaborating with PR teams for product launches, product managers should consider several key considerations to clear messaging, timing, the target audience, media outreach, and legal compliance. 

For example, when Netflix introduced the player speed control feature, they issued a press release highlighting the functionality and its potential benefits to users. The PR release emphasized the flexibility it offered to viewers, allowing them to control the playback speed of content. This allowed viewers to consume content at their preferred pace. Netflix’s PR team likely worked closely with their legal and compliance teams to ensure the messaging was accurate and complied with content licensing agreements and copyright regulations.

Feedback loops

Gathering feedback post-launch is indeed pivotal for a product’s ongoing success. It’s not a one-time event but rather an ongoing process that keeps the product in tune with user needs and market trends. A multifaceted approach involving customer support, feedback forms, and surveys helps gather valuable user insights. Customer support teams are often the first line of defense in addressing issues and can provide real-time feedback on customer concerns. Distributing feedback forms and surveys allows for systematic data collection, enabling product managers to pinpoint areas for improvement and enhancement. The iterative process of revisiting and assessing user feedback ensures that the product remains relevant and competitive in a rapidly evolving market.

Develop a support infrastructure:

Preparing a robust support infrastructure is critical to a successful product launch. Ensure that customer support channels are in place to promptly handle inquiries, feedback, and technical issues. Clear documentation, comprehensive FAQs, and tutorials will help users get up to speed with having support channels identified and planned ahead of a product launch is of paramount importance. 

Without a well-established support infrastructure, a product launch can lead to chaos, frustration, and potentially even failure. Here’s why:

• Customer satisfaction:  Inadequate support can result in frustrated customers who encounter issues or have questions about the product. For instance, the “1% rule” suggests that for every 1% of customers who complain about a problem, approximately 99% remain silent but may still hold opposing opinions.
• Lost opportunities: Users seeking help or encountering difficulties may abandon the product or switch to competitors, resulting in lost opportunities for adoption and revenue.
• Increased workload: Without effective support channels, customer support teams can become overwhelmed with inquiries, leading to longer response times, stressed employees, and potential burnout.

Overcoming risks and challenges

Adaptation and flexibility:

Our primary challenge as product managers is delivering our products within increasingly tight timelines. The pressure to launch quickly is ever-present, especially when public announcements have already been made. While being accountable for this timeline is essential, fostering a culture that allows flexibility in case launch dates need adjustment is equally crucial. To mitigate this risk, consider the following steps:

1. Collaborate closely with your engineering partners to understand and align with forecasted timelines.
2. Allocate buffers for activities like beta testing, internal dogfooding, and bug fixing before the official rollout.
3. Maintain regular and transparent communication with stakeholders and promptly address any potential risks.

Resources management:

To achieve a successful launch, it’s imperative to consider your current resource allocation and factor in any additional resources necessary to meet your timeline goals. This necessitates meticulous planning that aligns the available resources with the project’s demands and constraints. These considerations should be integrated early on in the financial planning phase.

In conclusion, the path to a successful product launch is a strategic journey that blends careful planning, cross-functional collaboration, and adaptability. As the product takes flight, continuous monitoring and a commitment to customer satisfaction becomes the compass that guides you to success. The launch is not a finite event; it’s an ongoing process of evolution and refinement in response to changing landscapes.