You've been planning and working hard, and the time has come to launch a new product. However, you know that just "having it on the shelf" is not enough to start selling. It is necessary to place it on the market successfully. How it is done initially depends on whether disappointment or success will follow.
It's a common practice for startups to launch their product before they're ready. This is usually done by taking on a "beta" version of the product and letting it sit for a few months. Many people say that launching a new product is hard; we've broken down three viral marketing tactics that anyone can successfully launch their first product.
Long before digital marketing, brands relied on "word-of-mouth" recommendations to reach new clients. If an existing customer liked the product, the recommendation would follow. On this principle, today's viral referral campaigns work. Still, there is also a bonus - everyone who makes a recommendation gets some benefit.
For example, DropBox offers more free online storage space to anyone who brings in a friend to start an account.
If you have a product that benefits people, they will, of course, use it. It is only up to you to give them a reason to share the voice about you, for example, on social media, and they will do the same and quickly spread a good word about you.
Recommendations are made through shared values, mutual experiences, etc. Therefore:
It can be the same group who already buys your product, or it can be a new one. Today, when practically everyone is connected, this is no longer difficult.
When choosing your target audience, you should include people who are likely to be interested in your product. It can be your existing customers, or it can be an entirely new group of people.
Is it convenience, quality, speed of delivery, price, etc.? Then think about the main problem your new product solves for this group.
What experiences do they share?
What values do they share?
What common problems do they share?
For example, Fitbit allows users to track their physical activity, which gives them a chance to connect with others who are also interested in fitness.
Your product should be interesting to journalists. Journalists love to write about products. This means that your product will have excellent visibility in the media. This visibility gives you even more chances among your target audience. In addition, journalists are often interested in new products because they appreciate the novelty and enjoy writing about something new.
Consider looking for partners or sponsors who might help you get your product noticed in the press addition you.
Affiliate marketing is a simple and effective way to attract traffic and generate sales because it relies on influential individuals and the community people gather around and trust.
Before embarking on affiliate marketing, calculate well how much profit you can give up. Otherwise, you risk a loss, and that is not suitable for any business.
Example: If you are willing to give up part of the sales profit, you can use the help of a blogger/influencer in a promotion. They will present your new product to their audience, and in return, they will receive a small percentage of money from each sale they make for you.
To get into a partnership, you must first look for potential partners. List down everyone who is influential and who might be able to promote your product after you have identified your partners, set clear rules for them. For example, you may offer a price discount if they purchase your product on their blog.
Content marketing is a set of marketing techniques (blog posts, eBooks, videos, etc.) designed to attract potential customers to a company's product. Content marketing (when done correctly) can position a company's product as "the expert" in a market.
For example, let's say you are launching a new product, and you believe that you can provide customers with the best solution. Therefore, you have to create a series of blog posts that explain why your product is the best. In addition, you should explain the benefits of your product, and persuade potential customers why they should buy it.
It would help if you wrote in a way that clearly describes the benefits of your product. In addition, you must provide your readers with convincing reasons for buying your product. Therefore, content marketing is a great strategy to attract potential customers to your product.
This type of marketing and promoting new products is a great way to catch the eye of potential customers. In addition, you can use several different channels for external reviews.
Example: Use YouTubers. In exchange for your free products/fees, they'll make a video review to present your new product to their audience and acquaint them in detail with all the benefits your product brings.
You can also hire bloggers for this purpose. Like YouTubers, they will push your product into the market and provide it with more extensive visibility, increasing sales.
There are also magazines and online portals that bring together many readers. So, yes, to publish a text about your new product, you will most likely have to pay, but you'll get good visibility.
But remember, it's essential to choose people in your "niche." For example, suppose your new product is an innovative mobile phone case/wallet. In that case, you'll need YouTubers, bloggers, and news portals that deal with either fashion or mobile phones. On the other hand, those who talk about, for example, cosmetics or computers will most likely not bring you any publicity and your target audience, and their engagement will only be a cost, not an investment.
So be careful and research thoroughly before hiring someone.
This is the last principle, and it is more time-consuming. But creating a promotional flyer or brochure or creating a video for your product takes a lot more time and skill.
For example, you can create a promotional video. To do this, you will need to familiarize yourself with all the characteristics of your product. You will also need to be able to present your product, which takes time.
It's important to remember that each of these promotional tools will require a lot of time and money.
Remember, to successfully launch your product, you need a plan. And this plan must take into account all the points mentioned above.
Launching a new product is only half of the battle. Launching a new marketing strategy is mandatory. When launching a product, you will face many challenges, from choosing a product to implementing your marketing strategy. Companies' biggest mistake when venturing a new product is to rush to market without a solid plan. When you rush, you make mistakes, which is costly. When you have a solid strategy, you create awareness. When your customers are aware of your product, they can trust you. Trust is the main ingredient to a successful business.
If you create awareness, generate sales, and satisfy your customers, you'll succeed.
Now it's your turn, and it's all up to you. Which point do you need to work on most? Which of the topics listed above would you start immediately?
When you launch a new product, here are some things you need to do:
You need to define your product/service in detail. Don't create a product that fills a gap in the market. Your product/service needs to have a unique selling point and be valuable and attractive to your customers.
Your marketing plan should be:
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