When launching a new or optimizing an existing product, most companies focus on the initial steps of product development. They research the target market, identify customer needs, and fine-tune their product concept to ensure a viable product.
However, while the pre-product launch process is necessary, many companies are missing a critical step to ensure long-term product success: A post-product launch analysis.
What is a Post-Product Launch Analysis?
A post-product launch review collects feedback on how well a newly launched product or product update is performing. Asking product review questions allows brands to evaluate how customers view the product offering and identify if the product needs additional enhancements.
Rarely is a product launch immediately successful — instead, it requires intentional and incremental tweaks based on customer feedback like:
- What types of customers are purchasing the product, and which are not?
- Why are customers buying (or not buying) the product?
- What attributes are most and least appealing to early adopters?
- How does the initial product performance compare to company expectations?
To gather actionable insights to strengthen your product, you should conduct a post-launch product review within the first few weeks of the launch. You should also repeat the product review regularly to assess the market’s reaction over time and measure the impact of any changes you make to improve your product.
The Benefits of a Post-Product Launch Analysis
Gathering customer feedback on a recent product launch can provide valuable insights to:
- Fine-tune sales and marketing strategies
- Optimize product offerings for sales and customer retention
- Quickly identify and address poor performance
- Protect product investment from a failed launch
- Discover additional products or product enhancements
- Identify new customer bases and markets to sell to
Questions to Ask After a Product Launch
Evaluate how your product is performing and gather insights to improve and grow with the following five product launch review questions.
Question 1: Who are our early adopters?
As soon as a product achieves initial traction, you should identify exactly who your target customers are. Asking questions like:
- What are the characteristics of our first buyers?
- How are they using the product?
- Why are they using it?
- Are these use cases similar or dissimilar to what we expected?
- What do they love about it? What do they not? Why?
The answers to these questions can lead to new messaging, additional product support ideas, or feature enhancements to add to your product roadmap.
Question 2: How should we position the product?
Once you understand who your early adopters are, you can collect insights to inform your product positioning.
Make sure your marketing and sales strategies are not turning customers away. Quickly analyze how your messaging resonates with potential customers and allow your sales and marketing teams to update their messaging to accurately align with customer preferences and expectations.
Gather feedback on the buying process and user experience with questions like:
- What need or problem is the product solving?
- How effective is it at addressing that need vs. competitive products in the market?
- What attributes are most important for customers when they consider this product?
- What attributes were least important for customers?
- How satisfied are customers with those attributes?
Question 3: How can we make the product better?
A successful launch does not guarantee the product will continue to be successful. By constantly adapting and improving a product, a company increases the product’s chances of long-term survival.
Customer satisfaction surveys can generate ideas for upgrades and product improvements, ensuring long-term adoption and product loyalty. These studies ask existing customers questions like:
- What features are missing from this product?
- Is there anything you would change about this product?
- Are you likely to purchase this product again? Why or why not?
Asking these questions provides brands with insight into unmet needs and opportunities for growth.
Question 4: What adjacent markets are available for this product?
If you’ve successfully launched the product in an existing market, start looking at adjacent markets. Your product might be able to fill an unmet need there.
However, before you invest in expanding to a new market, make sure you understand the needs of this new customer base.
What works for your initial customer base may not work in other markets. By understanding the values and preferences of the new market, you can properly align your sales and marketing efforts to target this new market effectively.
- What adjacent markets would be relevant for this product?
- How big are those markets?
- What are the needs, preferences, and expectations of this market?
- What product features or strategies need to change to appeal to this market?
Question 5: What other products should we add to our pipeline?
A product launch is particularly effective for generating ideas for even more new products. For example, when Apple created the iPod, it opened the market for all kinds of new products in the form of accessories: headphones, holders, car adaptors, docking stations, and the now-ubiquitous iPhone.
By channeling early feedback from the market, companies can generate ideas for additional products or service offerings to offer their engaged and loyal customer base.