Everyone wants their new venture to be the product that launched a thousand plus sales and much like anything else in this life, there is a right and a wrong way to achieve this. This blog aims to give you hints and tips on the right way to launch a new product.
So without further ado, here are Début Marketing’s top ten tips for making your product launch go with a hitch-free bang:
1) Know your product
What is it you are launching? Now, this question may initially seem a little strange and I don’t mean for one second that your product is alien to you, what I mean is what are its USPs? There’s that acronym again, USPs, also commonly referred to as unique selling points or in other words, what benefits does it offer the customer or what problem will it solve? Answering this is your first step…
2) Know your competition
So that you can stand out from the crowd, it is important that you know what else is out there and available to your target market? Who are your competitors and what are they doing that can be directly compared to your product? Check what similar service/product they do and what the points of difference are. By doing market research before your product launch not only can you tailor your product and market it more effectively but you may also save money putting potential problems right before they occur.
3) Know your audience and plan your launch
Who will be buying your product and what is the best way to get their attention? It is important to know this as it will dictate how you plan and target your communication…
Is your launch targeted at your existing customers or to the wider public. This is important as it dictates the ‘how’ part…
If it is your existing customer base you are targeting you can add information in product dispatch, email them or send them a personal letter. If you are looking to attract a wider audience then make use of all the avenues available to you…even go national!
Is your product suited to a specific time and season? Are there any occasions or memorable dates you can coincide your launch with? Maybe there is an event coming up that will give your product extra coverage. Consider the time of day and even the day of the week you launch a new product. Customers may be more susceptible to communication before the weekend as they will have more free time to ponder your offerings.
When promoting something it is always a good idea to use as many avenues available to you as possible, provided they reach the right audience of course. Some common ones that are easily at your disposal include local and national advertising in the press, on the radio and even on billboards; inserting leaflets or a brochure in with an existing mailing and setting up a webpage specifically for your new product.
5) Use social media regularly
If it’s quick, effective and extensive coverage you’re after then turn to social media to encourage word of mouth marketing. Asking customers and followers to ‘like’, ‘comment’ and ‘share’ is a great way to reach a vast audience.
6) Do something different!
Getting PR coverage means you have to do something newsworthy and/or beneficial for the community. Do you have a great slogan to go with your product that can be put everywhere or are you planning a viral online campaign? Perhaps your new product will cause job openings or make use of local skills..? You can guarantee there will be people out there who will want to know if it does.
7) Sponsor something
This is a great way to communicate with an extremely targeted audience. For example, is there a local team that is likely to use your product? By sponsoring them you are creating awareness of your product and showing its direct benefits.
8) Free Samples
Send samples of your product to existing customers to try and ask them to review it and spread the word via your website or social media pages. Coincide this with a countdown to the launch date, time and location so people are in no doubt when and where they can get your amazing new offering.
9) Product placement
If you have done partnerships in the past it may be worth asking these companies to feature your product in their own communications. Or, if you have any friends that have relevant businesses ask them to hand out samples or take a trial batch to sell.
10) Create hype with teasers
Everyone loves a competition and the thought of getting something for nothing. To engage potential customers and get them talking run a competition to win the chance to be the first to try your new product.
But remember, all the creative ideas and marketing in the world is great but if the product isn’t good or worthwhile you can forget about your efforts! Who remembers the new coke recipe from the 1980’s? Exactly! If you do your research and invest in your product it should, in theory, sell itself. Good luck.
Wow, I don’t think I have asked that many questions since I was three and wanted to know why the sky was blue…
But the aim of this blog was not only to give you tips but to make you think about your marketing and promotion. And, as always, if you have any questions (I’ve asked my fair share for a while) then please get in touch. Next week, instead of asking questions I will answer one – How do you know if you need marketing support?