Launching a new business can be a nerve-wracking but exciting experience. Every business owner wants to see their product or service take off quickly, bringing in the crowds and corresponding revenue.
But there is such a thing as too much, too soon. Why is this? Often, brands don’t do the proper preparation for a major influx of early adopters. The more prepared for this type of response business is, the better the reception will be in the long run. In fact, quick, explosive growth can be a recipe for disaster if the brand is not adequately prepared. Let’s dive into why this happens.
Within the tech industry, new products are
constantly being launched and promoted to the eager masses looking for the
latest advancements. For this reason, many startups enter the market before
they’re fully ready, hoping to capitalize on consumer behavior trends.
For example, a startup may have new artificial intelligence technology aimed at streamlining the customer experience for businesses. The technology uses predictive analysis to customize customer experiences and profiles, theoretically leading to more quality sales leads and conversions.
Businesses quickly jump on board, signing
contracts to bring this technology into their stores with the hopes of boosting
But there’s a problem.
The brand has a few kinks in the software that
hadn’t been sufficiently ironed out ahead of the launch. Now, with a massive
influx of new customers, the bug has exploded into a much bigger problem,
compromising the quality of the software and turning off the early adopters.
Now, the business is scrambling to patch the
glitch, but by having to retrace their steps and address the issue they are
losing potential new customers and alienating those they’ve already gained.
What this brand should have done is to do the
proper legwork and testing to ensure the software is primed and ready to be
used right away. Of course, glitches and bugs can come up unexpectedly, but all
steps must be taken to put forth the most complete product possible. Without
doing this, the explosive growth and large numbers of early customers can be a
detriment because of the potential for these customers to now have a poor
It can be tempting to want to jump into the pool
early, lest the brand misses out on vital momentum spurred on by a growing
industry or current events. However, it’s much more beneficial for long term
success for brands to ensure they have the best, most complete product to put
on the market ahead of the launching period.
Explosive growth is a marker of success. But what a brand does after that explosive growth period is what matters. Having to go back and fix mistakes and patch up customer relationships early on will not do the company any good in the long term. Additionally, not having a strategy to capitalize on early momentum will do damage.
At the end of the day, success in marketing,
particularly at the outset of a product’s lifecycle, comes down to being able
to see and plan for the big picture. Don’t be tempted by explosive early
growth; make sure the best product is ready to launch and have a plan in place
to take advantage of the momentum and harness it for future benefit.