In our “Going Multiproduct” series, we'll explore the go-to-market (GTM) process for adding new SaaS products to your platform. Drawing on our experience launching our white label Employee Onboarding Solution, we’ve tailored this guide to pilot business leaders and product managers from conception to launch.
Let's Get Your New SaaS Product Launched!
There’s a reason why SaaS marketers use a rocket as the symbol for product launches. It suggests that when your product enters the atmosphere, it will immediately take off and reach the moon.
Our CEO and founder, Joshua Siler, likes to say that SaaS teams often prepare as if the floodgates will open at launch, but as with the aforementioned hopeful moon landing, that rarely happens.
Launching a new SaaS product is a pivotal moment that can set the tone for its future success and market position. This phase is an orchestrated effort to capture the attention of your target audience, establish a strong market presence, and lay the groundwork for sustained customer acquisition and growth. A successful product launch requires meticulous planning, coordination across teams, and a deep understanding of your market and potential customers. It's an opportunity to showcase the unique value of your product, differentiate it from competitors, and build excitement and anticipation among potential users.
In the final blog in our “Going Multiproduct” series, I’ll talk about the insights we’ve gained launching HiringThing’s new Employee Onboarding solution.
Launch Preparation
The foundation of a successful SaaS product launch is laid long before the actual launch day. Pre-launch preparation ensures that when you unveil your new product, it resonates with your current and prospective clients and is positioned for success.
A successful launch hinges on thorough preparation across several key areas: market understanding, product readiness, and teamwork. In preparing for our Employee Onboarding product launch, we brought all departments up to speed, from marketing and sales to customer support and technical teams.
This preparation involved comprehensive briefings on the product's features, user interface, messaging, and pricing strategy. Each member of our cross-functional launch team understood our product and positioning as well and had clearly defined roles aimed at collaboratively executing a cohesive launch plan. This holistic approach guaranteed that our product met market expectations and was positioned for a successful debut and sustained growth.
Crafting Your Launch Strategy
At the heart of bringing a new product to market is a strategic, well-orchestrated launch plan that aligns with your business goals, resonates with your target audience, and leverages the most effective channels to amplify your message.
It’s important to note here that because of our white label offering, we had a leg up by already having a sales and marketing launch blueprint in place that was designed to move our white label partners through the complex process of launching a new hiring solution. It’s one we’ve used ourselves for partner product launches multiple times to ensure a smooth and successful introduction.
Following our launch planning methodology, we guide clients through:
- Setting clear, measurable launch goals.
- Pinpointing their target audience.
- Crafting resonant messaging.
- Strategizing on selecting effective marketing channels for optimal reach and engagement.
- Developing a comprehensive launch plan and timeline.
- Ensuring every step from pre-launch to post-launch is meticulously planned.
We followed the same blueprint with ourselves when it came to building the launch plan for our Employee Onboarding solution. I’d encourage anyone looking to go multiproduct to please steal our approach. By carefully planning and executing the launch strategy, you can maximize visibility, engage your audience, and set the foundation for achieving your launch objectives.
The Product Launch
The journey to a successful product launch begins long before the official release day. Initiating pre-launch marketing activities is critical to generating anticipation and ensuring a receptive audience.
The centerpiece of your launch strategy is an event, an opportunity to unveil your SaaS product to the world. Whether you opt for a digital, in-person, or hybrid launch, the goal is to create an experience that highlights your product's value and innovation.
We launched our Employee Onboarding software at the HR Technology Conference & Exposition last year. We got immediate and positive feedback and some learnings that we’ve applied to our product and positioning.
Practical pre-launch activities and a dynamic launch event are crucial for capturing attention and building momentum. You can cultivate an eager audience ahead of launch day through strategic content marketing, anticipation-building tactics, and partnerships. Then, by delivering a well-planned and engaging launch event, you solidify your product's presence in the market, setting the stage for its success. This approach ensures that when you finally introduce your product, you're not just launching to the void but to an audience primed and excited about what you offer.
Measuring Post-Launch Success
After the excitement of the launch event subsides, the focus shifts to sustaining the momentum and evaluating the success of your SaaS product launch. There’s no rest for the weary. This phase is about maintaining engagement, iterating based on feedback, and setting the stage for continued growth.
Setting and Measuring Key Performance Indicators (KPIs)
Determine the success of your product launch by measuring key metrics such as user acquisition rates, engagement levels, customer feedback scores, and initial revenue. These KPIs should align with the goals set during the planning phase of your launch.
“One of our most critical KPIs to track once the product launched and we got users was feature engagement,” Onboarding Product Manager Lindsey Anderson told me. “We looked at the most used features, what features got the most clicks, and what features users seemed to be ignoring. This informed how users were going through the process, what they found most useful, and what we could change to make the process more intuitive for them.”
Gathering and Analyzing Feedback and Data
Collect feedback from your early users through surveys, social media interactions, and direct communications. This feedback is invaluable for understanding user satisfaction, uncovering potential issues, and identifying areas for improvement.
It’s also important to gather and analyze the internal data we have. What can you learn about the product based on your users behavior?
Iterating on the Product
Use the insights gained from user feedback to make necessary adjustments to your product. This could involve fixing bugs, adding requested features, or enhancing user experience. Quick iteration shows your commitment to meeting user needs and can turn initial users into long-term advocates.
One notable iteration we made based on the feedback we gathered and our KPIs was making the employee onboarding experience more customizable. Initially, we provided our users with many pre-built, out-of-the-box workflows to save them time. What we found, though, was that everyone seems to have their own unique onboarding. Now, we’ve slotted QuickTasks into our roadmap so users can build one-time tasks and find product value immediately.
Post-Launch Marketing
Continue to engage your audience with ongoing marketing efforts. Share updates about new features, case studies, and user testimonials to demonstrate your product’s value and impact. This not only helps retain existing customers but also attracts new ones.
Learning from the Launch
The post-launch period is a time of learning, iteration, and growth. By actively engaging with your users, refining your product based on their feedback, and continuously marketing your evolving offering, you can build a strong foundation for sustained success. Measuring the outcomes of your launch against your initial goals allows you to celebrate successes, learn from challenges, and strategize for the future, ensuring your SaaS product remains competitive and continues to meet the needs of your market.
What We've Learned About Going Multiproduct
I can say with confidence and feel confident speaking for my entire team that our main takeaway from going multiproduct is how crucial it is to be agile.
Embracing ongoing learning and adaptation is essential for staying ahead in the dynamic SaaS landscape. Continuously monitor industry trends, gather customer feedback, and most importantly, be willing to pivot your strategies to meet changing market demands. The journey of bringing a SaaS product to market is one of constant evolution—where success is not just about launching but growing, learning, and innovating every step of the way.
Due to our white label offering, we have experience helping our partners launch new products. Thus, we were able to apply the best practices, tools, and processes we already have in a very agile way. Our experience has given us a level of sophistication we wouldn’t have had, if this was our very first time helping to launch a new product, and we’re happy to pass that expertise on.
If you’ve been thinking about adding a new recruiting solution, but don’t want to build the product and GTM plan from scratch, set up a call with one of our Partner Development Representatives. We’ve built a business around doing the heavy lifting and ensuring your new white label recruiting solution—hiring, onboarding, or both—is a success.
Thank you for reading the final post in our “Going Multiproduct” series. The other blogs in this series include Understanding Your Market, Positioning Your Product, Building Your Product, and Selling Your Product. Additionally, we have another blog series helping companies determine whether they’re ready to go multiproduct.
About HiringThing
HiringThing is a modern recruiting and employee onboarding platform as a service that creates seamless talent experiences. Our white label solutions and open API enable technology and service providers to offer hiring and onboarding to their clients. Approachable and adaptable, the platform empowers anyone, anywhere, to build their dream team.
.jpg?width=45&name=1621426681866%20(1).jpg){kind=small}