Business Marketing 101: Effective Ways to Launch your New Product
A product launch is a critical and very sensitive time for a start-up company. It is one of the most important phases of establishing brand and services because its success could make or break a brand’s survival. It’s when business owners, marketing and advertising people electrify the customers and present to them a new product which can help improve their personal and professional lives.
Planning and executing a product launch may be very difficult, but it is definitely worth it. Many people think of a product launch as an event which happens with a big explosion. What they don’t see is the fact that launching products is just a part of a whole.
What then are the vital secrets to a successful launch? How and when should you execute them?
Here are 5 effective tips on how to effectively launch a new product. Hopefully, you will get a lot from this article, so that you won’t have a hard time dealing with the marketing side of your business.
1. Identify your prospective target market.
The most effective sales people know who their customer is. If you do not know how to plot your target market, then you are setting yourself up for failure. Know your potential buyers, get to know them and interview them. It would also draw their attention if you would find out through surveys what keeps them up every night. It is very crucial to know exactly what your customer needs and how your product can address those needs.
2. Create an engaging and updated website to explain your product.
Whether it’s a full corporate website or a microsite, it’s important to have a dedicated online space detailing the features of your products. The internet is the best avenue for potential buyers to get in-depth information about your products and services. And most importantly it is the medium where you can inform your customers on how they can pre-order, buy or subscribe your products.
3. Create buzz via social media.
Start generating buzz about your product via Facebook, Twitter, and other social media platforms. Get budget for advertising, do a giveaway contest that encourages social activity and simply give away free copies or trials of your products to get hot leads! This should definitely be the most fun part of your product launch. I personally call this a soft launch, because most materials I post are just teasers.
4. Get early product reviews.
The only way to continuously improve your product for the next iteration is to get actual feedback from previous customers. Ask them directly how much impact your products had on them in terms of utility, quality and usability.
5. Learn what your best marketing mix is.
Whether social media advertisements or television advertisements deliver the best results is out of the question. The more important thing to consider is what perfect marketing mix best fits your specific product and specific target market. Find out which channels best employ your target market and convert them into authentic customers.
Photo credits to Needs Review.
About Camille Jacinto
Jack of all trades. Interested in MAFIA: Music, Arts, Film, Independence and Anything Intellectual. Currently writing for an events and advertising company.