By Maddy KingMarch 10th, 2024Launching a new idea can be a thrilling, terrifying time. It's also a time with a lot of pitfalls that people fall into that end up costing them dearly. We're here to help you avoid these with a data-driven plan that derisks the process of launching your new idea.
- 50 customer interviews and surveys with people to understand what problem are you solving for the customer: Who are they? How painful is the problem for them? How do they currently solve it? Are they willing to pay to have it fixed?
- Landing page development. If there are strong indications that customers will pay to have the problem solved, build a landing page for the idea with a list of features and a waitlist. Include a premium product they can pay for.
- Promote to existing followers and network.
- Create several different video ads designed to engage different demographic audiences.
- Social media campaign aimed at several audiences that might be interested in the product. Send them to the landing page.
- Social media performance monitoring: which audiences are most interested in the product? Which ones buy? Increase ads budget for these audiences. Grow what's working, kill what doesn't.
- Define go-ahead. How many sales or signups indicate traction? What number will suggest that this idea can be financially sustainable?
- Website build. Once you achieve go-ahead, build a basic MVP of your product - a website or an app that's simple, but provides more value to the customer than your landing page. Try to think about one key feature that your customer would be interested in, that's different from what they can find elsewhere. Minimize risk by handling most of the process work manually - this reduces the cost of the build. Include a premium feature to confirm that users will pay money to solve the problem.
- Analytics and SEO set up. Use LaunchBot to install and configure Google Analytics and the Meta Pixel properly in your website so we're understanding as much as we can about your customers from day 1. Set up website SEO for success.
- Advanced social media campaign. Ramp up ads to audiences that have shown interest. Monitor results, learn what's working and tweak ads to increase useful traffic to the site.
- Define success as a certain number of sales in a set period of time.
- Pivot solution. If success is not achieved, go back to your customer interviews, learn more about the problem, and change your approach to solving it for people. Be prepared to learn that your idea isn't the right one, and try something different.
- Advanced website development. If success is achieved, invest more in expanding the features of the MVP to do more processes automatically (delivering efficiency for you) and to provide more points of difference for the paying customer (delivering user delight).
LaunchBot can help you with this automatically. Try for free now.
