Inventing a new tech product and bringing it into the world can be a challenging process that involves numerous steps which need to be taken before you can even facilitate your very first sale. In fact, many of the efforts made in the weeks and months leading up to the product launch are even more pivotal than what takes places after the product is already on the shelf. More specifically, here are 5 preliminary measures that can either make or break the success of a newly released tech product:
1. Copyright and Trademark Due Diligence
It’s imperative for any developing startup to ensure that its products aren’t violating any copyright or trademark laws by accidentally using a pre-existing name or logo that belongs to another company. Fortunately, it’s easy to conduct a trademark search in order to find out if any of the branding ideas you have in mind are already owned by someone else. Taking this simple step could save you the costly hassle of enduring an intellectual property lawsuit.
2. Market Research
It’s also important to conduct market research in order to ensure that there will be an adequate number of customers or clients who will need your product. This will also give you an idea of how competitive the niche is and what tactics you might be able to use to expand your web presence so that it matches the caliber of the competition. Thus, becoming familiar with competitive analysis and market research will be beneficial for any entrepreneur who is working on an upcoming tech product.
3. Building Pre-Launch Marketing Momentum
Just because your product has been released yet, doesn’t mean you have to wait until launch day to start advertising. Actually, beginning your marketing campaign at least a few weeks before the product is available can help you build up a backlog of pre-orders that will make your grand opening more profitable and boost vital sales metrics which could convince investors to contribute extensive funding.
4. Testing Product Quality and Safety
Ensuring that your product is safe should obviously be a top concern before you start shipping it out to consumers, as sending out a hazardous product could lead to injuries and business-ending lawsuits. Likewise, the product should undergo testing to confirm that it’s capable of performing as advertised – the last thing you want in your first week of business is a bunch of negative reviews.
5. Selecting the Right Supplier
For any given tech product, there are usually dozens, if not hundreds or thousands of different factories that can fulfil your orders. Thus, choosing the right manufacturer is a process that you should take your time with, because finding a supplier who provides a better price and optimal reliability could wind up making your entire endeavor much more lucrative and sustainable in the long-term.
The Real Magic Happens Behind the Scenes
As a closing note, it’s important to remember that the efforts which contribute to a tech product’s success the most usually happen before the product hits the market, not after.
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