According to Harvard Business School professor Clayton Christensen, each year more than 30,000 new consumer products are launched and 80% of them fail! What do you think the reason for such a high percentage of failure could be? Maybe nobody wants new products? Or perhaps most products fall short of their claims?
Well, a Harvard Business Review article written by Joan Schnieder and Julie Hall states that most businesses are not able to market their products properly- “The biggest problem we’ve encountered is lack of preparation: Companies are so focused on designing and manufacturing new products that they postpone the hard work of getting ready to market them until too late in the game.”
Launching new products can be intimidating. The months or even years of hard work of the product development team is now on the shoulders of marketers.
It’s the marketer’s job to make sure that the product has enough hype in the market and eventually sells successfully. But in order to do so, they need a plan. A plan which outlines exactly how they are going to launch the product, build hype, generate press, and gather leads.
Creating such an intensive plan of action is hard. However, using a ready-made product launch marketing template can easily cut that work in half!
But before we jump quickly to our awesome product launch marketing template, let us first briefly understand what exactly is a product launch marketing document and why is it important. Read on…
What is Product Launch Marketing Documentation?
The product launch marketing plan is a document created to ensure all the moving parts of a successful launch are achieved. It brings together everything that needs to be done to ensure the product launch goes according to the plan and everyone knows what to do and when.
A product launch document is an important map that helps your team coordinate across all efforts and actions to achieve your launch goals. If you don’t have a product launch plan, you are basically shooting in the dark and hoping you get some buzz around your new product.
Why Product Launch Plans are Important?
Having a product launch plan in place ensures that everyone is on the same page regarding the things they need to do to make the launch successful. Launch plans create a map of what the goals are, what needs to be done for preparation, and how to execute the launch.
When all team members are coordinating efforts in one central place it helps speed up decision making and ultimately the success of the launch. If successful, product launch leads to more brand exposure, more customers, more sales, and eventually, a substantial bottom line for your business.
What You Should Include in Product Launch Documentation
Now that you know the importance of creating a product launch marketing document, here are the few things you must work on.
Launch Date: Add the date of the product launch to make sure the team knows the deadline.
Launch Goals: Write your launch goals one by one.
Branding / Message
- One Liner
- Short Description
- Long Description
- Marketing Assets
Content to Create: Add descriptions about what content the marketing team needs to create in order to ensure an effective launch. These can include case studies, brochures, white papers, and more.
Customer Profile: Describe your customer profile here.
Lead Generation Plan: Write your plan about getting new leads for the business.
PR Blitz: Add any information regarding press releases, contacts, etc.
Launch Budget: Add your spreadsheet describing the launch budget in detail.
Now that you know what to include inside your product launch template, let’s see how you can create an awesome product launch marketing document with ease with Bit!
Create Your Product Launch Marketing Document The Right Way With Bit.ai
For a robust product launch documentation, marketers need to work in tandem with the product team to make sure there’s no confusion regarding the product and everyone’s on board with the brand messaging. Bit makes sure that it is THE place for coordinating smooth collaboration between the product team and the marketing team.
Bit is a modern-day workplace collaboration tool that empowers marketing teams to make marketing and sales materials while collaborating in a common workplace.
The sales, marketing, and product team can create, customize, collaborate and share product launch documents, to-dos, ebooks, whitepapers, blog posts, sales playbooks, presentations, email templates, and other internal as well as client-facing material.
Marketers often find themselves making a lot of assets in the form of product launch docs, ebooks, brochures, whitepapers, blog posts, sales playbooks, sales processes, presentations, email templates, competitive analysis, company one-pagers, proposal documents, case studies, pitch decks, etc. Hence, having a tool to create and store all these documents in a centralized location becomes more than a necessity.
Whether your team is creating internal or external documents, they can easily add videos, PDFs, Slideshare decks, spreadsheets, and more directly into a Bit document. It’s a smart way to add context to the content you are sharing.
Create Interactive Assets: You can add content from over 100+ various applications that will live inside of your Bit documents. Add Excel spreadsheets, PDFs, Google Forms, Gantt charts, social media posts, YouTube videos- basically anything on the internet with a link, and Bit will automatically convert that into live content living inside your product launch marketing document!
Collaborate in real-time: Marketers, product developers, and salespeople can simultaneously collaborate on a Bit smart document in real-time can create product launch templates easily. This allows input from various departments and brings a unique perspective to all assets created by the company.
Employees can collaborate to create Product launch documents, Process documents, Case studies, White paper, Ebooks, Blog posts, Persona documents, Training documents, Presentations/Sales Decks, Social media content, Competitive Intelligence documents, Sales scripts, Product pages, and more.
It’s a wonderful way to manage projects, create client-facing material, brainstorm, share meeting agendas, create proposals, and most importantly, share the knowledge! Bit’s sleek, minimal, and distraction-free editor makes a great tool for documentation.
Avoid Confusion: With the ability to tag co-workers, interlink documents to create wikis, collaborate on a document in real-time, and chat functionality makes it very easy for everyone (especially remote teams) to stay on the same page and avoid confusion and chaos.
Track Documents: With Bit, you can track the time spent by external parties, how frequently they were viewed, or if they were viewed at all. This is extremely helpful as it gives you an idea of whether clients, prospects or partners have actually read the material given to them.
If you are working with an external marketing agency to help you out with the product launch, document tracking is a priceless feature. You can easily see whether the agency has gone through your document or not and make sure that everything is going according to plan.
Multiple ways to share: Bit documents can be shared in a live state meaning that all changes that you make to the document will update in real-time. If you are sharing your product launch marketing document with outside partners and clients, they will always get your most up-to-date changes.
You can even embed these documents on any website or blog. Since Bit documents render and are responsive, any changes made to these documents will reflect live on the site! Moreover, features like document tracking, password protection, file access restrictions, etc. help keep your workplace documents safe.
Bit provides a common workplace for marketers to collaborate, document, share their knowledge, brainstorm ideas, store digital assets, and innovate together. The best part is that this knowledge is safely secured in your workspaces and can be shared (or kept private) with anyone in your organization or the public!
Here are some of the main benefits of using Bit:
- Collaborate in real-time
- Interlink product launch documents
- Create fully responsive documents
- Create product launch documents only visible to yourself or your team
- Track engagement on shared product launch documents with clients, partners, etc.
To make the process of creating your product launch document easier, we have created a ready-made product launch marketing template for you! Check it out below:
How to use Product Launch Marketing Template with Bit
The process of creating a product launch document on Bit is insanely easy! Just follow these four simple steps to create a product launch marketing documents quickly:
Step 1: Create a Bit Account
Go the home page of Bit.ai and click on Get Started for Free or Sign Up to get started. Enter your email address to sign up. Once in, you can create your personal profile.
Step 2: Create a Workspace
Workspaces are where the work gets done. Click on the ‘Create Workspace’ button on the right. A popup will show up prompting you to add a name for your new workspace.
You can create a workspace around a team, department, large project, client, partner, etc. Inside each workspace, you can create an unlimited amount of Bit documents and access your content library (storage area for all of your digital assets – web links, files, cloud files, rich embeds, etc.).
Step 3: Add Team Members
Bit allows your team members to collaborate in real-time and get work done. Collaboration starts at the workspace level.
You create private workspaces by default. However, you can invite others to join you inside of a workspace and collaborate together with the knowledge, projects, documents, and content inside of the workspace.
Step 4: Create Your Desired Document
Once you are in the workspace, click on the ‘Create New’ button. Select ‘From Template’ in the dropdown. A pop up will display allowing you to select a template from the gallery.
In the search box on the top left corner, you can search for a “product launch marketing template”. Once your desired template pops up, click on it and click on the “Use Template” button on the bottom right corner.
That’s it! Your product launch marketing plan document is ready for use!
Over to you!
Bit brings your product and marketing team under a single roof where they can brainstorm ideas, share knowledge, and launch products successfully. Using a product launch marketing template can significantly reduce the time and energy required to create such documents, providing marketers with everything they need to successfully launch a product.
If you need any help with the product launch marketing template or want to know how Bit can help your business, let us know by tweeting us @bit_docs. Cheers!