Product Launch Plans
Product Marketing Managers need to have launch plans to ensure that their product meets the revenue expectations that they projected when they received the approval to develop the product. In fact, it is a good check and balance to set up part of a PMM’s bonus, based on achieving the revenue goals that were projected for his or her product. This way, the PMM doesn’t over forecast potential sales of his project–just to get it approved (especially when it then costs him bonus money later).
The way to ensure that products meet revenue is to include a launch plan. This includes all the deliverables (collateral, sales training materials, price list, internet pages, schedules to train sales, etc.), plus the promotional schedule. The PMM should work with the head of marketing communications (MarCom) to come up with a promotional plan. It might include a press release, a press tour, sales and reseller training, a Webinar, advertisement, roadshows, and trade shows, special offers, etc.
The main thing is that the PMM must ensure that his product gets enough attention from the MarCom group, from sales, support and the reseller channel to meet his projected quota (especially critical if he must use a shared sales force and is competing with other product managers for product mind share). This also means that the PMM doesn’t go on vacation when the product comes out of development (I saw this happen once–the PMM obviously needed some direction)), but must drive it from concept to sales, from cradle to grave.
Resources on Product Launch
- See the MarCom section for information about the promotional schedule.
- See The Product Marketing Manager’s Handbook for Software for launch plan examples–Chanimal’s #1 Choice for High-Tech Marketing books