In the USA, nearly 30,000 new products are launched every year, yet, according to Harvard Professor Clayton Christensen, 95% fail.
A product launch misstep might be a drop in the ocean for a multi-million-dollar brand like Amazon, but it could be lethal for a start-up or a first venture into a new market or category. And in Aotearoa New Zealand, we have additional challenges to face, like our small population and the logistical hurdles of export.
So, how can we overcome these unique challenges and be part of the successful few?
In our resources below, we spoke to tech leaders who share equal scars and badges from the product launch battlefield. Here's what they had to say:
- Start with customers at the heart of your launch.
- Understand broader trends shaping customer behaviour.
- Lean on partnerships within your industry.
- Learn from the community, including their failures.
It's important to remember that failure shouldn’t be stigmatised. It’s an opportunity to learn, improve, and refine your approach. What did you take away from the experience? How can you do better next time? And who can you count on for support in your next product launch?
All great questions. In the resources below, Lovina McMurchy, COO and CPO of Kry10 and Venture Capitalist, and Nick Whitehead, Tech Marketer of the Year and CMO of Serko, talk about strategies that have worked – and what hasn't – for them on the global stage.
