The essential product launch checklist for SaaS companies | 2024

Having a product launch plan can mean the difference between a smooth SaaS product launch and a flop.

But what is a product launch plan? 

In this in-depth guide, we’ll answer that question. We’ll also explain what you should pay attention to during every stage of the launch. 

Here’s what we’ll cover:  

• Answering the question, “What is a product launch checklist?” 
• Pre-launch preparation considerations 
• The importance of product readiness
• Elements of marketing and promotion to keep in mind
• Launch day execution tips
• Post-launch follow-up considerations 
• The importance of choosing the right billing platform

Let’s start by answering this guide’s central question. 

What is a product launch checklist?

A product launch checklist is your roadmap to success. It's a guide that outlines all the essential tasks and activities required to introduce your new SaaS product to the market. 

It’s a master plan that helps you make sure no stone is left unturned as you navigate your SaaS product’s launch. 

Why is having a SaaS product launch plan so important?

A successful launch goes beyond just launching the SaaS product itself. It’s also about creating a wave of excitement, attracting the right customers, and establishing a strong market presence. 

Challenges SaaS companies face without a product launch plan

Without a well-defined checklist, you risk running into issues that can derail your launch. Let’s take a closer look at some of those issues:

• Missed deadlines and chaos: SaaS products involve many moving parts and cross-functional dependencies. It's easy for tasks to slip through the cracks without a centralized plan. This can lead to missed deadlines, last-minute scrambles, and a disorganized launch.
  
  The result? Delays, or a poor impression on potential customers.
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• Misaligned teams and poor communication: A lack of clarity on roles can result in communication breakdowns. This can lead to duplicated efforts and conflicting priorities. These result in a disjointed launch that fails to deliver a cohesive message.
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• Bad market preparation: Launching a SaaS product without market research and competitor analysis is a no-go. You risk targeting the wrong audience and overlooking key differentiators. What's worse, your product might be lost in the sea of competing solutions.
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• Weaker user experience: User experience is paramount in SaaS. You risk releasing an incomplete product without proper testing built into your launch checklist. The last thing you want is a version riddled with bugs, usability issues, and a frustrating onboarding process.
  
  Failing in this area could lead to high churn rates and missed opportunities.
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• Failed marketing and sales efforts: A product launch needs a solid marketing and sales strategy. You may miss out on key promotional opportunities without a checklist to guide your efforts. Failing to do so means you won’t generate enough buzz and struggle to convert leads into paying customers.

Having a SaaS product launch plan lets companies take control of the launch process holistically. You want to make sure you cover every base, and less is left to chance. 

How to launch a product: Explained in 5 stages

We’ll now explain the process of creating a new product launch plan. We’ll break the process down into 5 stages:

Stage 1: Pre-launch preparation

Before diving headfirst into development, it's crucial to validate your product idea to ensure market demand and fit. 

Validating your product idea means conducting thorough market research and getting feedback from potential customers. Basically, you want to:

• Understand your target audience: Who are they? What are their pain points? How will your product solve their problems? Answer these questions before moving forward.
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• Analyze your competition: Who are your competitors? What are their strengths and weaknesses? How can you differentiate your product? Answering these questions will help you see which other solutions you’re up against. 

Remember, assembling the right team is also essential for a successful launch. Key players include:

• Product manager: The captain of the ship, overseeing the entire launch process and product lifecycle.
• Marketing team: Responsible for generating buzz and attracting customers.
• Sales team: Driving conversions and closing deals.
• Customer success team: Ensuring customer satisfaction and retention.
• Development team: Building and maintaining the product.

Each team member plays a vital role in the launch's success. Because of this, you’ll want to make sure to align everyone so that they all understand their scope.

Finally, you want to define what success looks like for your launch. Set clear, measurable goals and key performance indicators (KPIs) to track your progress. Here are some examples of success metrics and KPIs you can keep track of: 

• The number of sign-ups or trials measures initial interest and adoption.
• Conversion rates track how effectively you turn leads into paying customers.
• Customer acquisition cost (CAC) evaluates the cost of acquiring each new customer.
• Customer lifetime value (CLTV) is the total revenue a customer generates over their relationship with your organization.
• User engagement and retention rates indicate how actively users interact with your product and how long they continue to use it.

Remember these will of course vary according to your type of SaaS product. For instance, if your SaaS product doesn’t offer trials, there’s obviously nothing to track on that front 

Stage 2: Product readiness

Before launch, you want to make sure your SaaS product’s features are good to go live. This means making tough decisions. The most important is which features are essential for the initial launch and which can wait.

Remember, it's often better to launch with a minimum viable product (MVP) —  a SaaS product that delivers its core value. You can then gather user feedback to inform future development.

These are some questions to ask yourself before moving forward:

• Does the product solve the core problem for my target audience?
• Is the user experience intuitive and seamless?
• Have I addressed any major bugs or performance issues with the dev team?

On that final note, remember real-world testing is invaluable. Conduct beta testing with a select group of users to gather feedback and spot any remaining issues. Testing helps you fine-tune your product and make sure it meets user expectations.

Here are some of the key benefits of beta testing:

• It uncovers usability issues and bugs.
• It provides valuable insights into user behavior and preferences.
• It helps build early relationships with potential customers.
• It can help generate buzz and anticipation for the launch.

Security should also be a top priority. This is especially true for SaaS products that handle sensitive customer data. Implement robust security measures to protect your product and your users' information.

Here are three more reasons why you should make safety a priority:

• Data breaches can damage your reputation and erode customer trust.
• Security vulnerabilities can disrupt your service and lead to downtime.
• Compliance with data protection regulations is essential. You want to avoid costly fees and legal repercussions. 

The final step of this stage is choosing the right pricing model for your SaaS product. Consider your target audience, value proposition, and competition before choosing. 

Here are some popular SaaS pricing models:

• A freemium plan offers a basic version of the product for free. You then charge for premium features or additional usage.
• Subscription-based plans charge customers a recurring fee for access to the product.
• A usage-based plan prices the product based on how much it is used. Potential billable metrics include data volume, API calls, or active users.
• Tiered pricing plans offer different pricing tiers with varying levels of features. It helps cater to different customer segments.

Stage 3: Marketing and promotion

Before you unveil your SaaS product, you need to generate excitement and anticipation in your target market. Creating this hype sets the stage for a successful launch and helps you attract early adopters who are eager to try your solution.

Here are some tactics for building buzz:

• Teaser campaigns offer glimpses of your product's features and benefits.
• Social media contests and giveaways engage your audience and generate excitement.
• Influencer partnerships leverage their reach and credibility.
• Content marketing provides valuable insights and educates potential customers about your product.

You’ll also need a robust content plan for attracting and educating potential customers. Develop a variety of content that resonates with your target audience and addresses their pain points.

Here are some types of content to consider:

• Blog posts and articles
• White papers and ebooks
• Case studies and testimonials
• Videos and webinars
• Infographics and social media graphics 

You don’t want to just stick to content, though. Social media platforms offer a powerful way to connect with your audience and amplify your launch message.

Here are some key strategies for maximizing impact:

• Continue creating engaging and shareable content.
• Run targeted ad campaigns to reach specific demographics.
• Use relevant hashtags and participate in industry conversations.
• Monitor social media channels for feedback and engagement opportunities.

Remember, email marketing remains an effective tool for nurturing leads and driving conversions. Craft personalized email campaigns that guide potential customers through the buyer's journey.

You’ll want to truly captivate readers. To do so, use attention-grabbing subject lines and strong CTAs to encourage action. You’ll want to use segmentation and personalization. This will help you deliver relevant content to different audience segments.

Finally, you’ll want to look into partnerships with other businesses or influencers. Fostering these partnerships can extend your reach and introduce your product to a wider audience.

Benefits of partnerships:

• You get access to new customer segments.
• More chances are available to build increased brand credibility and trust.
• You gain shared marketing resources and expertise.
• Co-creation of valuable content and promotions will boost your brand. 

Stage 4: Launch day execution

Launch day is all hands on deck. It's crucial to have a well-coordinated team where everyone understands their responsibilities. 

Clear communication channels are essential to guarantee everyone is in sync. They need to be able to address any issues that arise in real time. Consider having a dedicated Slack channel or project management tool for launch-related updates.

Remember those KPIs we discussed earlier? 

From the moment you launch, start tracking your KPIs. Real-time monitoring gives you immediate insights into how people are responding to your product. Because of this, it allows you to make data-driven decisions on the fly. 

Keep a close eye on sign-ups, conversions, website traffic, and social media engagement. These will help you gauge the initial response to your launch.

You’ll also want to guarantee customer support readiness. 

Be prepared for a surge in customer inquiries and support requests. Make sure your customer support team is ready to handle any issues that arise. Prompt and helpful responses can go a long way in building customer trust and loyalty.

Even with meticulous planning, things can still go wrong. Have a contingency plan in place to address unexpected challenges.

Tips for contingency planning:

• Anticipate potential issues and develop solutions in advance.
• Have a clear escalation process for critical issues.
• Communicate any changes or delays to customers and stakeholders transparently.
• Remain flexible and adaptable to adjust your launch strategy if needed.

Stage 5: Post-launch follow-up

Your launch is just the beginning. The post-launch period is great for gathering feedback from your early users. Their insights are very useful for identifying areas for improvement and can help you shape the future of your SaaS product. 

Here are some ways of collecting customer feedback:

• Use in-app surveys and feedback forms.
• Conduct user interviews and focus groups.
• Do some social media monitoring and sentiment analysis.
• Monitor customer support interactions.

Actively seek feedback and make it easy for users to share their thoughts. Analyze the feedback and find common themes and pain points to improve in future updates.

Measure your launch's success against the goals you set in the pre-launch phase. Study key metrics and KPIs to understand what worked well and where there's room for improvement. This analysis will inform your future marketing and product development strategies.

All we’ve discussed in this stage boils down to continuous improvement. 

Your product needs to keep pace. Adopting a mindset of continuous improvement means making adjustments based on customer feedback, market trends, and performance data.

Why choosing the right billing platform matters before you launch

Your billing platform is your tool for collecting payments. But it goes beyond that, as it’s also the financial backbone of your SaaS business. Selecting the right one before launch is critical for a smooth and successful operation. 

Here are four things to keep in mind before choosing one for your business.

1. Alignment with your pricing model

Your billing platform should easily integrate with your chosen pricing model. Make sure it supports models like freemium, subscription-based, usage-based, or tiered pricing. 

This translates into accurate and efficient billing. Most importantly, it helps in preventing revenue leakage and disappointing customers.

Flexibility is key. As your product evolves, your billing platform should be able to adapt without major disruptions. Adaptability is extra important if you decide to change your pricing strategies later down the line. 

2. Support for growth and scalability

As your business grows, your billing needs will become more complex. Your platform should be able to handle increasing transaction volumes. You also need to support many currencies and payment methods while also automating recurring billing processes. 

Scalability is essential to avoid bottlenecks. It also helps guarantee a solid customer experience as your user base expands.

3. Real-time analytics and reporting

A robust billing platform provides real-time analytics and reporting capabilities. You essentially get valuable insights into your financial performance. 

You can track key metrics such as monthly recurring revenue (MRR), churn rate, and customer lifetime value (CLTV). They’ll help inform your business decisions and improve your pricing and growth strategies.

4. Customer satisfaction

A good customer experience is paramount for SaaS success. Your billing platform should offer a user-friendly interface. Clear and transparent invoices and convenient payment options are also a must. 

In short, a positive billing experience fosters customer trust and loyalty. It helps reduce churn and increase lifetime value.

Next steps: Why Orb is the ideal platform for SaaS billing

We've shared a guide highlighting the importance of a product launch checklist. We’ve also discussed the key areas it should cover. One crucial aspect we emphasized was the need for a robust SaaS billing platform. A well-chosen platform can streamline your financial operations. The result is usually more and better business. 

This is where Orb comes in as a flexible billing engine for hybrid and usage-based pricing built for developers and finance teams. Orb ingests product usage data at a massive scale, speeds up new product launches, and provides detailed financial reporting. 

Product managers at industry-leading companies like Perplexity and Vercel trust Orb to power their pricing and billing infrastructure. Orb's flexible platform enables you to build the perfect pricing engine for your next feature release, ensuring a seamless customer experience and maximizing revenue potential.

Here's how Orb supports your SaaS billing needs:

• Precision in billing: Orb's tracking ensures that every billable event is captured. It guarantees accurate invoices and prevents revenue leakage.
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• Scalability: Scale up with our features like Plan Versioning and Migrations that cut the need for complex data manipulations, especially as you adjust your pricing model.
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• Actionable usage insights: Orb's tracking capabilities turn granular usage data into valuable insights, perfect for services with usage patterns like API calls or storage.
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• Better integration: Orb connects seamlessly with your existing data infrastructure and data warehouses (like Snowflake) and accounting software (like Netsuite). 
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• Customization for clarity: Define your billing metrics by the way you charge for usage. The result is more transparent and fair pricing for your customers. 

With Orb, setting up and managing your SaaS pricing becomes a worry-free experience. Check out our free demo now.