Building a winning pre product launch program
Building a winning pre product launch program
Product pre-launch period is a great opportunity for product marketing managers to test, design and execute a highly impactful GTM campaign for product launch.
Introduction
In an ideal scenario, product marketing manager starts their work as far out from launch as possible
The pre launch period offers an opportunity for PMM to test the positioning and messaging but also rum campaigns to drive early adoption, list building and referrals
Product marketing managers should use the time before product launch to run beta campaigns and run experiments to test growth strategy.
A pre launch stage can be defined in 3 phases
Stage 1: Research
User & Market understanding
Define your ICP
Testing the hypothesis of product market fit
Stage 2: Positioning and messaging stage
Articulate and design early product messaging and positioning statements
A/B test versions of messaging and positioning statements
Socialise versions of communication templates, designs internally and externally for feedback and refinement
Stage 3: Pre launch campaign:
Build awareness and traction
Activate early growth
Identify and engage early adopters: A crucial set of users who can drive advocacy and further adoption
Initiate and test a referral program which can be added to the growth flywheel.
Pre launch Campaign
While I have talked about stage 1 and 2 in my earlier articles, here I will discuss the stage 3: Pre launch campaign and its elements in details
The pre-launch campaign is a critical phase for product marketing managers (PMMs) to build awareness, traction, and early growth for the upcoming product launch. This stage is all about engaging potential customers, identifying early adopters, and laying the groundwork for a successful launch.
Let's break down the components of the pre-launch campaign and illustrate them with an example.
Build Awareness and Traction:
Objective: Create buzz and generate interest around the product before the official launch.
Teaser Campaigns: Use teasers, sneak peeks, and teaser videos to pique curiosity and build anticipation among your target audience.
Content Marketing: Create valuable and informative content, such as blog posts, videos, or infographics, that highlight the problem your product solves and its benefits.
Social Media Engagement: Leverage social media platforms to engage with potential customers, share updates about the product, and respond to inquiries.
Influencer Marketing: Collaborate with relevant influencers or industry experts to endorse your product and reach a broader audience.
Identify and Engage Early Adopters:
Engaging with early adopters is a critical element in designing a growth strategy. Early adopters can also help formulate a impactful product market fit as well as validates key matrices like the north star for your product
Customer Surveys: Conduct surveys to gather insights into customer satisfaction, product preferences, and pain points. Identify users who express high satisfaction and interest in promoting the product.
Engagement Events: Organize webinars, live Q&A sessions, or focus groups to interact directly with potential customers, understand their needs, and build a community around the product.
User Referral Programs: Implement a referral program that incentivizes early adopters to refer friends and colleagues, thereby expanding the user base through word-of-mouth.
Activate Early Growth:
A pre launch campaign should be geared towards activating and acquiring early adopters. The aim should be to drive signups for trail as well encourage early adopters to try the product and provide feedback, thereby kickstarting user growth.
Beta Programs: Launch a limited-access beta program that allows interested users to try the product before the official launch. Encourage beta users to share their experiences and feedback.
Early Access Offers: Offer exclusive early access or special discounts to those who sign up for the product before the launch date, incentivizing them to become early users.
One of the most successful strategy is to marry perceived product value with urgency to create a sense of FOMO among the target customers
Benefits of pre launch campaigns
Product marketing manager can test their hypothesis regarding
Whether the ICP is accurate
Effectiveness of messaging and positioning statements
Identify key growth levers
Design a viral loop which can help in driving early growth and adoption
Understanding the Viral Loop Concept
The viral loop is a powerful marketing mechanism that relies on customers to refer others, creating a self-sustaining cycle of growth. When executed correctly, it can lead to exponential user acquisition, making it an ideal strategy for startups aiming to build a large user base rapidly.
Why a referral/ pre launch signup program is critical for early win
Building Anticipation: Referral and pre-launch signup programs create a sense of anticipation among potential customers. People are naturally drawn to exclusivity and the opportunity to be among the first to experience something new. By offering early access or special perks to those who sign up, you create a sense of urgency and excitement.
Expanding Reach: Word-of-mouth is one of the most potent marketing tools. When people refer their friends and family to your product, you tap into their personal networks, expanding your reach far beyond your initial target audience. This organic growth can lead to a viral effect, dramatically increasing your product's visibility and potential customer base.
Validating Product Market Fit: A strong response to the referral or pre-launch signup program indicates a positive reception for your product. It serves as an early indicator of product-market fit, giving you valuable insights into whether your offering aligns with your target audience's needs and preferences.
Generating User-Generated Content (UGC): Early adopters who sign up through referrals are often highly engaged and enthusiastic about the product. This enthusiasm can translate into user-generated content (UGC) in the form of reviews, testimonials, and social media posts. UGC not only acts as valuable social proof but also fuels your marketing efforts organically.
Collecting Pre-Launch Data: Utilizing a pre-launch signup program enables product marketing managers to collect valuable data about potential customers. Information such as demographics, preferences, and pain points can help refine marketing strategies, fine-tune the product, and optimize targeting for a successful launch.
Robinhood's Viral Loop and Referral Program: A Product Marketing Masterclass for Early Success
About the product
Robinhood, a commission-free trading platform, executed a brilliant pre-launch viral loop and referral program that played a pivotal role in its early success.
Features:
Commission free trading, user-friendly interface, fractional shares
Real time market data, news and research tools
Create watchlist and get price alerts
Customisable to personal investment needs
In app customer support
Design
Modern, minimalistic visuals for user- friendly interface
Seamless navigation for smooth investing experience
Added benefits
Financial literacy content to help improve financial/investment knowledge
What makes Robinhood such a craze
Problem that Robinhood solve
The lack of accessibility and affordability in traditional brokerage services.
Robinhood addresses the barrier in trading due to high brokerage fee and commissions charged by traditional brokers
Solution:
Provide commission free trading and fractional shares, Robinhood democratizes finance and empowers uses to participate in the financial market with lesser money
Robinhood makes investing in financial markets more accessible and cost-effective for individual investors, particularly millennials and first-time investors
Robinhood's Viral Loop Strategy
Simplified Product Offering: At the core of Robinhood's viral loop was a simple and user-friendly product. By eliminating trading fees and offering an intuitive interface, the platform removed barriers for entry, making it appealing to a wide range of potential customers.
Early Access and Exclusive Invites: In the pre-launch phase, Robinhood used a waiting list to create a sense of exclusivity. Users who signed up for early access were given the opportunity to refer their friends and move up the waiting list. This strategy not only generated anticipation but also incentivise users to spread the word.
Incentivized Referral Program: Robinhood's referral program was a key driver of its viral loop. Users were rewarded with a free stock for each successful referral. This incentivization encouraged users to actively refer to their friends, creating a positive feedback loop.
Shareable Content: The referral process was made easy and shareable. Users could invite friends through various channels, such as social media, email, or direct links. By providing shareable content and referral links, Robinhood amplified its reach through word-of-mouth.
Key takeaway:
Develop a effective pre launch campaign strategy to test and validate hypothesis and well as identify growth hooks
Identify key hooks and levers doer early adoption
Engage with early adopters to develop advocacy and referrals
Design and test a viral loop strategy early in the campaign
Thanks for reading this article. If you like reading this one, do gave a read to my earlier article
Do share your feedback, and what you would like to read about, it will help me write what you’d like to read
Product Market Fit: https://fablesofmarketing.substack.com/p/why-product-market-fit-matters
Startup Marketing System: https://fablesofmarketing.substack.com/p/startup-marketing-system-why-is-it
Building a user centric product: https://fablesofmarketing.substack.com/p/the-crucial-role-of-product-marketing
Why User research is essential: https://fablesofmarketing.substack.com/p/why-user-research-is-essential-for