Your product is ready. Months, years, of research, planning, production, have gone into making it.
Sure, your research tells you the market will respond, the product works, but, as we all know in business, even if you've designed the best go-to-market strategy around, it's only a sale when the money clears the bank.
Product launch day is the day you put it all on the line.
So, given how much is at stake in a product launch, let's take a look at five billion-dollar (or close) product launches and why they went so well.
1. Memorable one-liners
When Steve Jobs introduced the iPod back in 2001, and he told us the product would let us have "a thousand songs in your pocket," he delivered the memorable one-liner that helped people figure out (and remember) what the product could do for them.
Coming up with catchy, memorable slogans and one-liners is not always easy. Consider hiring a marketing agency for creative help, or hire a professional speech writer if you are launching your product at a live event.
2. Make it an event
You've put it all on the line for your product launch. Don't just make it an advertising campaign--make it a memorable and unique event.
The iconic 75-year-old candy brand M&M are masters at event marketing. When they launched their new retail store in New York, they painted bikini-clad revelers head-to-toe in M&M signature colors and set them loose on the streets of Manhattan.
Mayhem ensued, and headlines were made as they paraded the streets. And the pinata? That was for an event promoting their M&M pretzel.
Makes you hungry, right?
3. Ride the coattails of celebrity influencers
Hey, maybe you don't have millions of Twitter followers, but take advantage of someone who does.
When Nikon wanted to appeal to a younger, more social media savvy demographic, they hired Ashton Kutcher (with his then 3.9 million Twitter followers) to launch their new cameras.
Even if you can't afford the 'big name' celebrities, look around your industry and get key influencers excited about your product.
4. Time it right
I doubt it was a coincidence that the Pokemon Go product launch happened in the early summer when the kids were out of school, and outdoor activities were at their peak.
Ask yourself--what time of year would work best for this product? How can I tie it into an external event or time of year? Launch a product for moms on Mother's Day. Open a new flower shop on Valentine's Day.
5. Show how your product solves a problem
When Elon Musk unveiled the Powerwall solar battery in 2015, he didn't emphasize the technological breakthrough the battery represented, or overwhelm us with the details of how the battery works. He presented it as a solution to a problem.
The battery went on to sell out within a few months, and despite a few recent hiccups, looks like it will be a trend-setter in the alternative energy field. Even if your product is cool, it still has to solve a problem, so make sure your product launch pitch explains that.
(Note: As I was writing this, I kept thinking, "Hmm... I know Pokemon Go was cool, but what problem did it really solve?" Then I realized it actually solved one of my biggest problems over the summer: finding an easy answer to "Mom! We're bored! What should we do?")
Your product launch is your big day, your coming out party. Learn from these five examples, let go of your fear, and bring that baby home.