Ecommerce strategy: how to launch a product online (2024)

Ecommerce strategy: how to launch a product online (1)

Written By Louise
On Mar, 5 2020

7 minute read

An ecommerce product launch is both exciting and trying, but with a strategic mindset and lots of preparation, e-merchants can definitely lessen the stress and have an all-round enjoyable experience.

So, are you ready to learn how to launch a product online? We’ve broken the process down into three easy-to-follow phases: pre-launch preparations, product launch, and post-launch assessment. Let’s get started.

Ecommerce product launch phase 1: Pre-launch preparations

Step 1: Pick the best product to sell

Choosing the right product to sell in an online store is a crucial first step in any ecommerce launch strategy. It doesn’t matter how great an e-commerce product launch is: if the product in question doesn’t speak to the audience, all the effort put into marketing will be for nothing.

That said, selecting the best products is easier said than done. Focus on market research and understanding customer’s pain points. After all, it’s imperative that e-merchants offer a product that responds to customers’ needs and wants.

Gauge customer interest by searching for common keywords and queries typed into either a search engine or the store’s in-site search bar. There are loads of SEO tools out there that can simplify this process, for example, the Moz Keyword Explorer or the SimilarWeb market intelligence tool.

To discover what interests your existing contacts, try doing customer interviews or sending out a survey. There’s no better way to find out what products customers would like to buy than by asking them directly.

E-merchants need to understand not just what interests their existing audience, but potential future customers as well. Reddit’s /r/technology, GoogleTrends, and Trend Hunter are all good places to start discovering trends. Keep an eye out for product trends but remember to steer clear of fads.

It’s imperative that all this research is relevant to the current global situation. The significance of Covid-19 on the e-commerce industry cannot be understated, so select a product that has grown in popularity since the lockdowns began.

Step 2: Beta-test products and get feedback

Before the e-commerce product launch, take some time to test it on a small circle of existing customers, friends, and family. Send them a few examples of your product to have them beta-test it, then gather and analyze their opinions.

Once they’ve been using it for a few weeks (the ideal time frame may vary depending on what type of product you’re launching) ask them for feedback and iron out any potential issues before proceeding to the big product launch.

Similar testing is also useful when designing a new product page on a website using an A/B test. The concept of A/B testing is well known in email marketing and website design, but it can also be useful to optimize product selection. At its most simple, it means offering different product pages to customers arriving from different sales channels. It’s an experimental tactic for retailers that can be of great help when trying to optimize sales.

Step 3: Secure sufficient inventory

When launching a new product in an e-commerce store, the worst thing marketers can do is hype it, only to realize there isn’t enough inventory to fulfill all the orders. Prepare for the rush using data from past launches of similar products to estimate how many units should be in stock.

E-merchants who have stocked up a new product as much as they can afford but are still worried it’ll sell out fast can give customers the option to pre-order, and warn them the new product is likely to go quickly.

How easy it is to secure this level of inventory depends heavily on how e-merchants source their products. There are three main methods of product sourcing to consider:

  • Self-made products - produced in a home or artisan environment, meaning more control, but keeping up with demand and storing inventory become key costs
  • Dropshipping - means e-merchants can sell products without storing inventory and the main product costs will often involve “drop fees” and transactional costs
  • Products purchased from a wholesaler or manufacturer - gives you a balance of control and flexibility, but also higher overhead than the other two options

Consider the margins associated with each sourcing method, and pick the optimal product with all these costs in mind.

Ecommerce strategy: how to launch a product online (3)

Step 4: Build a marketing strategy

An e-commerce product launch cannot be successful without a strategically planned marketing campaign to build a groundswell of excitement around the product and get customers ready to buy.

The first job of an e-commerce marketer is to design a great message. What sort of language and messaging will best get through to customers? What’s going to engage them and get them interested in the product?

Storytelling is a good strategy. Customers want more out of a shopping experience than just a transaction: they want to buy from brands that understand them. They want to feel connected to products. Craft a story around the new product - share why you created it, how you made it, and how it will benefit customers.

The second job is to identify the best marketing channels to use to broadcast the product release. Past experience will tell marketers which channels work best for each of their audience segments. Build a multi-channel launch campaign and use a marketing automation tool to alert customers via email, SMS, and Facebook Messenger.

Ecommerce strategy: how to launch a product online (4)

Step 5: Create the content

An e-commerce product launch relies heavily on the quality of it’s accompanying content. Write impeccable copy, create eye-catching creatives, and optimize CTAs for conversions.

Create all content in the format that’s ideal for each marketing channel, be that email, SMS, or social media. E-commerce stores can also partner with influencers and reshare the content they create.

Step 6: Prepare the customer service team

No product launch ever happens without a spike in customer support calls - whether it’s to do with shipping or the product itself, customers will always have questions.

Prepare the customer service team ahead of the launch. Make sure they know the product like the back of their hands. Coach them on how they should communicate and what message they should send about the new product.

E-commerce product launch phase 2: Product launch

Step 1: Build the hype

Release day is the perfect opportunity to capitalize on the excitement surrounding the e-commerce product launch.

Host a giveaway or contest to build hype around the product release. Take the opportunity to thank VIP customers and loyalty-program members with exclusive discounts. Organize an event and invite the press, existing customers, and social media influencers (within your niche). The more coverage around the launch, the better.

A proven method to gain traction early is for a product launch to coincide with a big international sales day like Black Friday. The e-commerce product launch will benefit from shoppers’ increased willingness to purchase during the holiday season.

Step 2: Launch your campaign

This is the moment you’ve been waiting for. It’s time for the e-commerce product launch!

E-merchants using a marketing automation platform just need to sit back and enjoy the ride (and hope that your servers can take the sudden upsurge in traffic).

A marketing automation platform will not only schedule and send the pre-planned launch campaign, but also handle lead capture and customer follow-up. Automatically thank customers who made a purchase and send necessary information about the delivery with an order confirmation campaign.

Better yet, automatically chase up visitors who didn’t make a purchase with a cart abandonment or browse abandonment campaign to bring them back to complete the order and increase overall conversions.

Ecommerce strategy: how to launch a product online (5)

E-commerce product launch phase 3: Post-launch assessment

Step 1: Keep in touch with customers

A successful e-commerce launch strategy does not end with the product launch itself. Once you have processed and sent all the orders, follow up with everyone who bought the new product to nurture them, and retain their business long-term.

Automatic post-purchase campaigns are a very important element of customer care. Send customers an email asking for feedback on the product or the shopping experience. To drive repeat purchases and increase each customer’s lifetime value, e-merchants can also tempt them with a selection of personally recommended products.

Step 2: Reach out to customers who didn’t buy the new product

The next concern for e-commerce marketers should be the customers who did not take part in the product launch.

Send these customers an automated message telling them what they missed out on, and maybe you will make a few late purchases. Or, if your new product sells, inform your customers of an upcoming restock date.

Step 3: Ask for reviews and testimonials

The social proof gained from reviews and testimonials is an invaluable asset to e-merchants. Strike while the iron is hot and follow up a successful delivery with an email asking for a testimonial or review.

To incentivize customers to write these reviews, offer a special discount or free shipping to use on their next purchase as a thank you.

Step 4: Analyze the results

Looking back on an e-commerce product launch campaign and analyzing the results is vital to the success of any future product launches. Did your website crash? Did you run out of stock? Was your cart abandonment rate alarmingly high? Learn from any mistakes made, make adjustments, and, if necessary, modify your website, your messaging, or your product offering based on the results.

Ecommerce strategy: how to launch a product online (2024)

FAQs

Ecommerce strategy: how to launch a product online? ›

What is a product launch strategy? A product launch strategy is a planned effort to launch a new product in a market. The goal of most businesses is to launch something and get as much growth and traction as quickly as possible. Many steps, actions, and people are involved in a project launch process.

How do I launch a new product on ecommerce? ›

Get Ready For Your eCommerce Product Launch Day
  1. Start preparing weeks in advance. ...
  2. Decide on sales channels. ...
  3. Test the key customer features. ...
  4. Build landing pages to entice customers. ...
  5. Optimize for SEO. ...
  6. Prepare your customer support. ...
  7. Additional promotions. ...
  8. Get rid of Shopify restrictions.
Feb 22, 2023

How do I launch my product online? ›

8 tips to successfully launch a new product
  1. Facts tell, but stories sell. ...
  2. Know your target market. ...
  3. Be the hero your customer needs. ...
  4. Understand why and when customers choose to buy. ...
  5. Develop a strong online presence. ...
  6. Offer a sample or free trial. ...
  7. Keep your eye on the competition. ...
  8. Keep on testing and improving.
Feb 4, 2022

What is the product launch strategy? ›

What is a product launch strategy? A product launch strategy is a planned effort to launch a new product in a market. The goal of most businesses is to launch something and get as much growth and traction as quickly as possible. Many steps, actions, and people are involved in a project launch process.

Which of the following is the best way to launch an e-commerce website? ›

How to launch a new ecommerce website
  • Verify your site ownership with Google.
  • Ask Google to index your site: ...
  • Track how Google Search is indexing your site. ...
  • If you also have a physical store, establish your business details with Google.

How do you launch a new product to customers? ›

12 steps to launching a new product
  1. Define Your Target Audience and know how to reach them. ...
  2. Know The Problem You're Solving. ...
  3. Understand The Buying Journey. ...
  4. Secure Your Online Identity. ...
  5. Validate Your Product. ...
  6. Know Your Competition And Be Different. ...
  7. Lay Out A Comprehensive Strategic Plan. ...
  8. Create Brand Voice Guidelines.
Oct 5, 2022

How do I launch a product on Shopify? ›

7 Tips for Launching Your Shopify Store
  1. Select a Domain. Before doing anything else, you need to select an available domain to use for your website. ...
  2. Create Your Site. ...
  3. Add Products. ...
  4. Select Your Promotion Strategy. ...
  5. Make Sure Your Site is Responsive. ...
  6. Review Your Site. ...
  7. Set Up Analytics.

How do you get customers before launch? ›

  1. Secure your audience before launch. Before a new product launch, ensure you have a solid group of people interested in what you're offering. ...
  2. Start early. ...
  3. Release teasers. ...
  4. Run a contest. ...
  5. Build hype through influencers. ...
  6. Create a press kit. ...
  7. Throw a launch party. ...
  8. Use Amazon Live.
Oct 11, 2022

What is the most important thing you should do before launching your product or service? ›

Before you begin planning your product launch, you need to understand your audience. Conduct thorough market research to gain valuable insights into who your target customers are, and what they want. This research will form the basis of all other steps in your product launch plan, including your marketing strategy.

What are the 4 stages of product launch? ›

As is often the case, every product goes through these stages of the product life cycle:
  • Introduction Stage.
  • Growth Stage.
  • Maturity Stage.
  • Decline Stage.
Jun 1, 2023

What are the 3 phases of product launch? ›

A launch can be divided into three stages:
  • Planning. This is the stage where product teams set goals, research their audience and competition, align expectations, and establish the marketing strategy. ...
  • Execution. This is the window of time during which the product is formally released. ...
  • Analysis.
Feb 25, 2022

What are the five steps to launching a product? ›

Let's begin.
  1. Step 1: Perform Product And Market Research. Research is the foremost thing to do before any launch. ...
  2. Step 2: Find Your Target Audience. ...
  3. Step 3: Select the Right Time. ...
  4. Step 4: Have a Powerful Marketing Plan. ...
  5. Step 5: Prepare For Communication And Retention.
Nov 12, 2020

How do you attract customers to e-commerce? ›

11 Ways to Get More Customers for Your Ecommerce Store
  1. Hold a sale‍
  2. Run a competition.
  3. Give free samples‍
  4. Partner up‍
  5. Write targeted blog content.
  6. Offer a new product/service‍
  7. Advertise‍
  8. Be engaging on social media‍
Dec 16, 2021

What are the 3 ways of e-commerce? ›

There are three main types of e-commerce: business-to-business (websites such as Shopify), business-to-consumer (websites such as Amazon), and consumer-to-consumer (websites such as eBay).

What are the three success factors of an e-commerce website? ›

The even balance between the three important factors — product, audience, and value proposition — is key to becoming a successful long-term e-commerce business.

What are the 7 steps to launch a new product? ›

Seven Steps to a Successful Product Launch
  • Research your target market. ...
  • Set performance metrics. ...
  • Get to know the manufacturing industry (and your manufacturer). ...
  • Take a good look at your supply chain. ...
  • Prototype. ...
  • Test, test, test. ...
  • Have a plan to scale (or at least plan to have a plan).

What are the 7 stages in the new product development process? ›

7 key stages of the product development lifecycle
  • Step 1: Ideation. Ideation is the first stage of the product development life cycle. ...
  • Step 2: Validation. ...
  • Step 3: Prototyping. ...
  • Step 4: Marketing. ...
  • Step 5: Development. ...
  • Step 6: Launch. ...
  • Step 7: Improvement.
Feb 8, 2023

What are the six steps of a product launch plan? ›

Once you identify your timeline, follow these six steps to successfully launch your new product:
  • Test thoroughly before your launch. ...
  • Invigorate your team. ...
  • Prepare for an increase in sales. ...
  • Remember your core business. ...
  • Establish metrics as you go. ...
  • Gather feedback after your launch.
Mar 3, 2015

How do you create a brand launch strategy? ›

7 tips for building a brand launch strategy
  1. Identify your audience. Your customers should be top of mind throughout your brand launch plan. ...
  2. Solidify your brand identity. ...
  3. Create a brand launch strategy. ...
  4. Put together a brand launch timeline. ...
  5. Create memorable brand assets. ...
  6. Build hype. ...
  7. Set up advertising campaigns.

How do you create a successful product launch timeline? ›

How to craft a product launch timeline
  1. Don't start from scratch, if you can help it. ...
  2. Plan well in advance. ...
  3. Identify launch scope and messages. ...
  4. Design your strategy. ...
  5. Select a launch date. ...
  6. Meet with all the internal stakeholders. ...
  7. Engage with affiliates, channels, and distribution partners. ...
  8. Create content.

How do you sell out a product launch? ›

8 tips to drive new product sales
  1. Accurately determine your marketing budget. ...
  2. Gather your content assets. ...
  3. Define your target market and ideal customer. ...
  4. Collect pre-launch reviews and consider feedback in beta testing. ...
  5. Build anticipation and draw out the suspense across channels. ...
  6. Create a waitlist.
Sep 2, 2022

How do I get customers to buy my product on Shopify? ›

Step 1: Leverage free sources of traffic
  1. Reach out to your inner circle to get first sales on Shopify. ...
  2. Grow your presence on relevant Reddit communities. ...
  3. Create a Facebook and Instagram store. ...
  4. Get more Shopify sales via Amazon and other marketplaces. ...
  5. Start marketing on Pinterest.

What are the steps to launch? ›

10 stages of launching a new product
  1. Meeting users' needs. ...
  2. Know your competition. ...
  3. Make a prototype and test it. ...
  4. Reconfigure your product. ...
  5. Run the numbers. ...
  6. Build anticipation by pre-marketing. ...
  7. Build a solid supply chain. ...
  8. Network and share your product.
Sep 20, 2022

What does a successful product launch look like? ›

A successful product launch aims to:

Find product-market fit. Capture new customers (and upsell existing ones) Increase revenue.

What is the product launch formula? ›

The Product Launch Formula is a program where you learn how to release your item, book, online course, service, etc., without having much experience and create a business empire through this. In this course, three core strategies were designed personally by Jeff, and they are: Initial Launch. Seed Launch.

How do you introduce a product example? ›

Below are 13 tactics for introducing your company's new product :
  1. Define a selling point. A selling point is a reason your customer may buy your product. ...
  2. Gather support. ...
  3. Show enthusiasm. ...
  4. Train your team. ...
  5. Let your team demo the product. ...
  6. Schedule a launch date. ...
  7. Control your product's life cycle. ...
  8. Prepare a mission statement.
Jun 24, 2022

What are the pre and post launch activities? ›

The pre-launch step: preparing for success, including “warming up” your customers and creating the launch marketing materials. The launch step: keeping the energy high as you promote, answer questions, and provide customer service. The post-launch step: reviewing results, making changes, and planning for the future.

What does a launch strategy look like? ›

A product launch strategy is the planning of all the stages that makes releasing a new product to the market a success. Those stages can include market research, competitor analysis, product development, marketing plans, and anything else that your go-to-market strategy consists of.

What are the 10 process to be followed in developing a product? ›

10 steps in the product development process: Part One
  • Customer Problem. It all starts with a single problem. ...
  • Product Conception. A new product needs to be novel and add additional value to what's already on the market. ...
  • Research. ...
  • Design and Development. ...
  • Prototyping. ...
  • Testing. ...
  • Certification. ...
  • Field Trial.
Jul 21, 2015

What are the 10 steps in creating your first product? ›

Here are the key steps for manufacturing a product idea:
  • Develop your concept. ...
  • Conduct patent research. ...
  • Research your idea's market. ...
  • Design a model of the product. ...
  • Build and test a prototype. ...
  • File a patent application. ...
  • Prepare a business plan. ...
  • Gain funding.
Jun 24, 2022

What are the six strategies to attract customers? ›

The following six strategies will help you attract and keep customers.
  • Offer quality products. Good quality is the most important reason cited by consumers for buying directly from farmers. ...
  • Cultivate good people skills. ...
  • Know your customers. ...
  • Use attractive packaging. ...
  • Let customers try samples. ...
  • Be willing to change.

How can I be unique in ecommerce? ›

What Makes Ecommerce Unique?
  1. Tell a story.
  2. Wear your heart on your sleeve.
  3. Give more for customer referrals.
  4. Give your website an overhaul.
  5. Make the Payment Process Easy for Online Customers.

What are 4 ways to attract customers? ›

10 Ways to Get New Customers
  • Ask for referrals. ...
  • Network. ...
  • Offer discounts and incentives for new customers only. ...
  • Re-contact old customers. ...
  • Improve your website. ...
  • Partner with complementary businesses. ...
  • Promote your expertise. ...
  • Use online reviews to your advantage.
Apr 6, 2017

What are the four basics of e-commerce? ›

So the four basic electronic commerce models are as follows,
  • Business to Business. This is Business to Business transactions. ...
  • Business to Consumer. Business to Consumer. ...
  • Consumer to Consumer. Consumer to consumer, where the consumers are in direct contact with each other. ...
  • Consumer to Business.

What are e-commerce strategies? ›

Ecommerce strategies are interconnected plans that drive your business operations. There are three major ecommerce strategies to consider: product strategy, customer relationships, and corporate considerations. Each of these must work together to ensure the best possible outcomes for your brand.

What are the 4 types of e-commerce? ›

The Most Common Types of Ecommerce Business Models
  • B2C (Business-to-consumer). B2C businesses sell directly to their end-users. ...
  • B2B (Business-to-business). ...
  • B2B2C (Business-to-business-to-consumer). ...
  • B2G (Business-to-government). ...
  • C2B (Consumer-to-business). ...
  • D2C (Direct-to-consumer). ...
  • C2C (Consumer-to-consumer).

Which ecommerce type is the most successful? ›

Business to Consumer (B2C)

This is the most popular e-commerce business model, and it typically requires the least amount of time to make a sale. It's typical for B2C businesses to use technology to connect with their target audience, employing things like mobile apps and retargeting ads.

Which is the most successful form of e-commerce? ›

Business to Consumer (B2C): B2C e-commerce is the most popular e-commerce model. Business to consumer means that the sale is taking place between a business and a consumer, like when you buy something from an online retailer.

What is the most important thing in e-commerce? ›

Customer loyalty is something that's the sum of a lot of important parts: customer experience, product selection, pricing, brand, and marketing.

How much will it cost to launch an eCommerce site? ›

Estimated Cost of Creating a Replica of Popular eCommerce Website
Popular eCommerce StoresEstimated Cost of Website DevelopmentTime to Develop
Amazon$50,000 to $150,00012-16 months
Ebay$50,000 to $100,0006-8 months
AliExpress$50,000 to $90,0007-9 months
Target$40,000 to $100,0006-8 months
6 more rows
Mar 28, 2023

How much does Shopify take per sale? ›

Are there any transaction fees? There are no transaction fees for stores using Shopify Payments. If you choose a third-party payment provider, there will be additional fees of 2%, 1% or 0.5% for our Basic Shopify, Shopify, and Advanced Shopify plans, respectively.

How much does the average eCommerce site make? ›

As of Jun 15, 2023, the average annual pay for an Ecommerce Business in the United States is $114,491 a year.

How much should I charge for eCommerce? ›

So, how much does an eCommerce website cost overall?
Small/Medium BusinessEnterprise
eCommerce software$20 – $100/month$2000/month + $5000 setup
Creative$0 – $1000 setup>$5000 setup
Payment Processing2.9% + $0.30/transaction2.4% + $0.30/transaction
Total Setup$0 – $1000 + your time>$10000 + your time
3 more rows

What is the best day to launch a product? ›

Some studies suggest that Tuesday may be the best day for launching a product, as potential customers may be more receptive than on Mondays when they are often preoccupied with the week ahead. On Fridays, many people anticipate the arrival of the weekend.

What are 3 types of product launch? ›

The 4 Types of Product Launches
  • Breaking In. The most common product launches occur when a company debuts a new product into an existing market. ...
  • Breaking ground. ...
  • Brand Extension and Expansion. ...
  • Conquering New Territory.

What are the 4 types of new products? ›

New product developments can be grouped into four major categories: new-to-the-company, improvement of existing product, extension of product line, and new-to-the-market.

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