Launching a new product is both an exciting and challenging endeavor. Even with over 50 product launches under our belt, we’ve had our share of stumbles along the way. What we’ve come to realize is that no launch is perfect, and it’s okay to make mistakes — we certainly have. The key is to learn from those missteps and continuously improve. Here, we’d like to share the top three mistakes we’ve encountered in our own experiences.
Mistake #1: Not Aligning Our Launch with the Sales Cycle
One of the most significant lessons we’ve learned is the importance of considering the existing sales cycle when launching a new product. There have been times when we’ve launched a product without fully accounting for where our other key revenue-generating products were in their sales cycles. For instance, we’ve seen what happens when a new product launch overlaps with a critical sales period for an established product—it can split our sales team’s focus and force them to choose between promoting a proven revenue driver and taking a chance on something new.
This scenario not only made it harder for the new product to gain traction, but it also risked undermining the performance of our existing products. To avoid repeating this mistake, we now meticulously plan our launches to ensure that the sales team can fully dedicate their efforts to the new product. We’ve also found that offering incentives during the launch phase can make the new product more attractive to sell. Planning launches with the broader sales cycle in mind has helped us avoid the pitfall of spreading our team too thin and ensures that each product gets the attention it deserves.
For an example of a cohesive product strategy that has yielded millions, you can read about one of our successful approaches here.
Mistake #2: Over-Reliance on a Single Launch Event or Campaign
We’ve also learned the hard way that putting all our eggs in one basket — relying too heavily on a single event or campaign for a product launch — is a risky move. In the past, we’ve had launches where the success was almost entirely pinned on a trade show or a major event. While these events can be great platforms, they’re also incredibly competitive, and numerous factors outside of our control can affect the outcome.
We’ve been in situations where, despite our best efforts, the results didn’t match our expectations. That’s when we realized that a more diversified approach was needed. Instead of betting everything on one big event, we now focus on building momentum over the weeks or even months leading up to it. This includes a mix of targeted marketing campaigns, teaser content, and pre-launch promotions. By the time the event arrives, we’ve already created a buzz, and the event itself becomes the culmination of our efforts rather than the sole focus. We’ve also found that setting up exclusive dinners or VIP meetings with key prospects gives us the meaningful face time needed to sell the new product effectively.
To learn how a strategic approach to product management and innovation can drive market-leading growth, explore more here.
Mistake #3: Developing Products Without Enough Market Feedback
One of the more humbling lessons we’ve learned is the importance of grounding product development in market feedback. There have been times when we got excited about an idea that seemed to address repeated sales feedback, only to realize later that we hadn’t fully validated the need with our customers or prospects. This has led to products that didn’t quite hit the mark in terms of meeting market demands.
To avoid making this mistake again, we’ve made it a priority to engage with the market throughout the development process. Establishing a Client Advisory Board has been invaluable for us. These boards provide independent and unbiased insights that help us validate our ideas and ensure we’re developing products that truly meet the needs of the market. Sometimes, we’ve even found that the solution didn’t require a new product at all — just a different pricing strategy or an enhancement to an existing offering. Engaging with our market early and often has helped us create products that resonate better with our audience and stand a greater chance of success.
If you’re interested in seeing how a well-crafted product strategy led to a successful launch, you can find more details here.
Embrace Continuous Improvement for Long-Term Success
Product launches are complex, and even after numerous attempts, we know there’s no one-size-fits-all formula for success. However, by reflecting on our own experiences and the mistakes we’ve made, we’ve been able to significantly improve our approach. We’ve learned to consider the broader sales cycle, diversify our launch strategies, and most importantly, develop products with direct market feedback. Each launch is a learning opportunity, and by embracing continuous improvement, we’re always refining our methods to achieve better outcomes in the future. Remember, the goal isn’t to be perfect — it’s to keep getting better.
Not sure how to build or launch your next product? Book a free 30-minute consultation with our expert Product team.