What is a Launch Strategy?
A launch strategy is a comprehensive plan that outlines the steps needed to successfully launch a new product or service. It includes research, planning, and execution of various activities to ensure the successful introduction of the product or service to the target audience. A launch strategy includes defining the focus areas, setting objectives, and creating measurable targets (KPIs) and related projects to achieve those targets.
What's included in this Launch Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Launch Strategy template for?
This launch strategy template is designed for product management and marketing teams in various industries. It provides a framework for those teams to create a comprehensive launch strategy that helps launch a new product or service successfully.
1. Define clear examples of your focus areas
A focus area is the general goal that you want to accomplish with your launch strategy. Examples of focus areas include market research, positioning, channels, customer service, and product development. When creating your launch strategy, it is important to clearly define the focus areas to ensure that all the objectives are related and can be accomplished together.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that you want to achieve with your launch strategy. They should be measurable and actionable. For each focus area, think about what objectives need to be accomplished in order to achieve that focus area. Examples of objectives can include analyzing competitor's products and services, developing product/brand identity, and optimizing reach through channels.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are metrics that are used to measure the progress of the objectives. They should be measurable, achievable, and relevant to the objectives. Examples of KPIs can include increasing customer insights, increasing competitor understanding, increasing brand recognition, increasing messaging accuracy, increasing channel selection, and increasing reach.
4. Implement related projects to achieve the KPIs
Projects (actions) are specific initiatives that need to be completed in order to achieve the objectives and reach the KPIs. They should be actionable and have specific deliverables. Examples of projects can include conducting market research, analyzing competitor's products and services, developing product/brand identity, creating messaging for target segments, and analyzing relevant channels.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform helps companies create, manage, and execute a successful launch strategy. The platform makes it easy to create a launch strategy, set objectives, and measure progress. With Cascade, you can monitor progress and make adjustments to the strategy quickly, ensuring that your launch strategy is successful.