Tips To Launch A Winning Product

Tips To Launch A Winning Product

Are you a bidding professional looking for up-to-date bidding tactics and strategies? Become a BaachuScribble Padi member for free and get access to technical resources and tools, Office Hours monthly webinars plus get exclusive access to our private community, Baachu Engage in Facebook. Join Scribble and become the smartest bidder in your sector.Click to join for FREE

A winning product launch gives a head start in sales for your company. It is one of the few opportunities to go from gradual to exponential sales. 

Here are seven tips to achieve a winning product launch:

Matching Product to Market Needs

A winning product launch begins with meeting the capabilities of your product to the requirements of your target market. This is often the domain of a product manager. If you are presenting a new product or service into the market you would be well served by getting out and talking to the potential buyers that your product addresses. Odds are you learn something unique and possibly so enlightening that it could be the turning point in your business.

A winning product launch cannot happen if the market wants a different thing from what you are delivering. 

Study the competition

A detailed competitive investigation based on your research and visits to the target market will help you make key choices. Check for the need to modify your product or service and customize it for that market.

Clear Positioning and Messaging

Positioning is the set of actions you do to place your product clearly in the minds of your buyers. If your positioning is not clear, your buyers and possible partners will be confused.   

Effective positioning is a communication process that makes the benefits and capabilities of your product so crystal clear to your buyers such that they get it without tremendous effort on your part. Your message forms the foundation for all communication to your target market.

Setting Clear Launch Goals

Be particular about what you want to achieve in your new market, including the level of sales you can anticipate reaching.You will not have a chance at a winning product launch if you do not establish clear goals. 

Proper and clear goals frame the purpose of your product launch. Once you have established the goals of your launch you need to consider how they will be measured.  

Priming the Pump

One of the most important tips to a winning launch is priming the pump. Priming the pump refers to all the activities that are conducted to build excitement and create demand for your product before it is generally available to buyers. You can do this no matter how large or small your company or the size of your budget.

Some ways you can achieve this is by involving customer support, though the sales team, your channel partners, executives or by involving industry analysts. 

Time the Launch Event to Maximize Sales

Identify the times and locations that afford maximum leverage and plan your lunch accordingly. Timing a launch can make all the difference in the world. This can be especially true if you launch your products on a global scale. 

Humour is Serious Business

Humour is Serious Business

Are you a bidding professional looking for up-to-date bidding tactics and strategies? Try Padi+ free for a month and get access to Baachu APMP certification courses, technical resources and tools, monthly webinars plus get exclusive access to our private community, Baachu Engage in Facebook. Join Scribble and become the smartest bidder in your sector.
Click to claim your free trial

Humour in the workplace

Statistically, people have a great sense of humour when they are not busy working. One survey revealed that individuals laugh considerably more during the weekends than weekdays. Additionally, once people grow older, they do not smile and laugh as habitually as they did before. Once people enter a work environment, they are less probable to laugh and find things less funny. Alternatively, humour is essential for stress relief, an increase in retention rates, and coming up with advanced solutions.

Supporting Research 

There was a study taken place in 2015 where participants watched a funny or neutral video before meeting with a stranger to see how open they would be with one another. The participants that watched the funny video shared 30% more information about themselves than the participants that viewed the neutral video. A study in 2007 came to the conclusion that couples that talked about memories when they laughed together were more happy and successful in their relationships than couples that shared positive memories that were not funny. 

Workplace humour 

In order to build humour skills, self-deprecate. Self-deprecation humanizes bosses and generates socialization with employees. It builds confidence and encourages workers to be funny. However, if your position in the workplace is of higher status or fairly new, it is best to dodge jokes that are aggressive. Use your own discretion when making jokes. 

It is common for employees with lower status in the work environment to laugh at jokes out of politeness rather than sincerely laughing. When you recognize the difference between the laughs and realize which type of laugh you receive from your jokes, you’ll know if you are funny or not. Do not worry if you are not funny. You just have to find out who in your workplace is the funny and boost them to make others laugh. 

Bridges and Ladders 

Humour can have a positive impact in a workplace through bridges and ladders. Bridges are methods to build friendly relationships, grow dependence and trust, and support cultures. Humour is an effective way to build bridges since laughter releases oxytocin. Oxytocin is a hormone that simplifies socialization, trustworthiness, and openness.  

Ladders are techniques to utilize humour to increase status or decrease another person’s status. If you are successfully able to tell a joke in a professional situation, your co-workers are more probable to deem you as knowledgeable and more of a higher status. To effectively be funny, the jokes have to be natural and not forced. The joke has to catch them by surprise, and it cannot be obvious.  

Humour is an excellent way to be persuasive, increase people’s abilities to remember information, and make a person more likeable.  

The Secret to Exponential Business Growth

The Secret to Exponential Business Growth

Are you a bidding professional looking for up-to-date bidding tactics and strategies? Try Padi+ free for a month and get access to Baachu APMP certification courses, technical resources and tools, monthly webinars plus get exclusive access to our private community, Baachu Engage in Facebook. Join Scribble and become the smartest bidder in your sector.
Click to claim your free trial

In this day and age, companies have to continuously grow and evolve in order to stay authentic and important. If the company is not growing, then that means they are declining. Businesses are able to grow through tactics such as adding new sets of strengths, discovering rare options, and figuring out untouched potential.

Expansion and Growth Strategy

Pre-planning expansion and growth is mandatory to make right choices or there may be huge flaws and risks. Some of these risks may include not grasping the full ability of the business, and expanding too hastily. Moreover there has to be a long term growth plan to be successful and competitive. It is vital to have a clear comprehension of which type of growth is the most appropriate for your business. This will allow companies to participate in the right markets and make assets that spread authority in the market that will last a long time. Furthermore, it is imperative to go outside of the box and pursue growth prospects suited to your company. This way the corporation creates flexibility and familiarity in their approach of growth. 

Brand Licensing 

Another strategy route for expansion is brand licensing. Brand licensing, or in other words category extension is when the brand enlarges its visibility into markets where there is high alertness and partiality, however has shortage of ability to flourish. Brand owners are dependent on licensees to get experience and competence. The brand extension results in product continuation through emotional continuation. The goal of the brand is to create an emotional relationship with their consumers to accomplish a countless share of life. 

Brand Value 

For example, for thirty years Coca Cola had branded its products as happiness to the Olympics with their lapel pins. This certain emotion transforms into a huge global event. Advertisements are not just about the “big idea”. It is more about the emotional relationship that brands have with their customers.

Businesses will grow when there is a thorough knowledge of the company and its strengths, a strategic plan to grow in the present and future, an expansion when it is right to do so, and being determined to be a part of something bigger than they already are. 

How Strategic Planning shapes your Business

How Strategic Planning shapes your Business

Get access to ready-to-use Execution Plans, downloadable Tools & Templates, Bitesize courses, Monthly Webinars with Baachu Padi+
Try Padi+ free for a month and get access to Baachu Scribble resources and tools, monthly webinars and so much more..
Click to claim your free trial

Strategic planning is the process of regular and continuous planning and analysis of all the necessary actions that help an organization to meet its goals and objectives. It is a crucial part of any business’s future. There is not one hard and fast procedure for drawing up an effective strategic plan, but the common procedure followed is as given below. 

  • Determining your strategic position 
  • Gathering and analysing information 
  • Formulating a strategy 
  • Implementing the strategy  
  • Evaluation and Control 

‘Strategic Planning’ is only for large businesses is the general stereotype. But in truth, almost all businesses benefit from a well-constructed business strategy. Ultimately, strategic planning helps to gauge what your organization is, exactly what it does, and why it does it, with a focus on optimizing your future potential. Strategic planning will help you to achieve the following objectives. 

Making the business proactive

A strategic plan allows organizations to foresee their future and to prepare accordingly. Through strategic planning, companies can anticipate certain unfavourable scenarios before they happen and take necessary precautions to avoid them. With a strong strategic plan, organizations can be proactive rather than merely reacting to situations as they arise. Being proactive allows organizations to keep up with the ever-changing trends in the market and always stay one step ahead of the competition.

Analysing strengths, weaknesses, opportunities and threats

It helps to review your company’s internal and external environment to maximize on strengths, protect against weaknesses and take advantage of business opportunities. Especially in times of economic uncertainty, it reduces risks by making you better equipped to make decisions. This is because, as part of the process of using a business strategy, current situation, resources, strengths and weaknesses, competitors and the business environment will be assessed. 

Getting employees on the same page 

It builds consensus in the company by getting the plan out to key players. When employees contribute, they take ownership of the plan and help to reach the company’s goals. For example, entrepreneurs can ask employees to brainstorm about a company’s strengths and weaknesses. After all, the staff know the company inside out. 

Measuring success

It helps to track your progress and motivate your employees to keep up their efforts. Through a dedicated strategic plan, organizations can get valuable insights on market trends, consumer segments, as well as product and service offerings which may affect their success. An approach that is targeted and well-strategized to turn all sales and marketing efforts into the best possible outcomes can help to increase profitability and market share. 

Increasing productivity 

It ensures employees know where they’re going and that they optimize their use of resources. It also provides the roadmap to align the organization’s functional activities to achieve set goals. It guides management discussions and decision making in determining resource and budget requirements to accomplish set objectives — thus increasing operational efficiency.

At a glance, strategic planning enables you to envision your company’s future over the next 3 to 5 years, develop strategies and tactics to address any identified problems and define your long-term goals. This reduces the risk of doing business based on better decisions and helps achieve your company’s potentials.

5 Traits Of Successful People

5 Traits Of Successful People

Get access to ready-to-use Execution Plans, downloadable Tools & Templates, Bitesize courses, Monthly Webinars with Baachu Padi+
Try Padi+ free for a month and get access to Baachu Scribble resources and tools, monthly webinars and so much more..
Click to claim your free trial

Achieving success is not a matter of luck. Success is a matter of being patient, having the right knowledge and persevering. Successful people have some common characteristics or traits that make them great. Being aware of these traits can help us in increasing these qualities in ourselves. 

Cultivating the traits given below and making them a part of your daily habits will benefit your life and career. 

1. Ambition 

Successful people do not have vague goals. They have specific and clear-cut goals. This provides clarity and makes the goal attainable. Specific goals also act as motivating factors and help in the formation of a career plan. Goals can be broken down into more manageable milestones which can be worked toward incrementally.

2. Determination 

Successful people are known for their resilience and drive. They have a strong willpower within them which helps them in attaining their goals. This ‘drive’ motivates them and helps them to focus all their attention and effort into furthering their progress. A successful person with a strong sense of drive is able to work tirelessly because they believe in themselves and their abilities. This ultimately enables them in accomplishing their goals. 

3. Readiness to learn 

One of the most important traits of successful people is a genuine thirst and hunger for knowledge. They keep an open mind and try to learn from everyone and every situation that they come across. Every experience offers an opportunity to grow.  Lifelong learning leads to the accumulation of new ideas and increases creativity. 

4. Patience 

Patience is an invaluable trait. Anything worth having is worth waiting for. Successful people recognize this, and they’re willing to take it slow but steady to win the race. Patience enables them to persist even in adversity and even helps them to learn from their mistakes. Cultivating patience will boost your career and increase stability.  

5. Discipline 

Success rewards consistency. Consistency is developed through discipline. Most successful people establish a routine that allows them to be consistent in their efforts. Routines vary from person to person. The key is to follow a routine that helps you grow both in your career and as an individual. Discipline is a key trait that allows people to enjoy not only success but also longevity in their career.