Product launch is a structured way of planning a sales and marketing campaign of new product launch. A well-defined plan will help companies to increase brand awareness and sales as well as to keep your existing clients. When we are conducting business, the first thing that comes in our mind is how to promote our products or service within a limited budget. This is because we always look out for ideas that can boost the sales of business with less spending. If you have landed on this article, then it means you have come across with right content that provides a structured marketing strategy for product launch.
When you start a new business, there are always some uncertainties. You may have found your passion but not sure how to make money from it. It could be that you’re starting a blog and need to monetize it. Or maybe you are launching a new product, service or project but don’t know what’s the best way to do it. Maybe you’re writing an e-book and want the best results possible. So no matter what business has started or is on your mind, if you want to thrive rather than just survive, then you want to follow this step by step launch strategy guide. This is designed so that anybody can easily follow along and within 30 days, if they do this all properly, they will have a successful product launch!
Launching a product or service is an exciting time. Whether you’re an entrepreneur or a large company, you get to see your hard work finally paying off and can’t wait to share it with the world. While product launches aren’t hard to plan, there are techniques that can boost success. I’ll take you through them below.
Why Is a Marketing Strategy for a New Product Important?
As with any new endeavor, it is important to have specific goals for what you want to achieve and a plan for how you will achieve them. For a new product, it’s crucial to do market research, define who your potential buyers or clients are, and then create a strategy for how you will reach those groups. Having these things clearly thought out will greatly increase your chances of success so without further ado, let’s look at some marketing strategies for new products.
10 Marketing Strategies to Launch Your Product
1. Organize a Pre-Launch Giveaway
For a product to take off quickly, you need to create a feeling of anticipation and excitement for its release weeks or even months in advance.
One of the most popular ways to do this is through pre-launch giveaways and contests. Give your product away to an exclusive group of lucky participants in exchange for them helping get the word out. There are a variety of options like Instagram contests, creating a challenge on social media, giveaways, etc.
Whatever option you choose, try to come up with content or ideas that can help your product go viral. For example, ask users to share their participation on social media, or come up with a good TikTok challenge. Be creative in your messages to make sure people don’t see it as spam and offer extra points for bringing in friends.
2. Increase Your Organic Visibility
Your SEO needs to be on point. Having a well-positioned website on search engines gives you a steady base of traffic to show off your new product, which is much easier than starting from square one.
For your search engine optimization strategy to work, you need to give users information that will truly be useful to them. Focus on optimizing these three areas.
- Keywords. Don’t think about what you would call your product or how you would describe it, but rather how a new user would search for it.
- Meta descriptions. Meta descriptions are the summary of your web page on search engines so they need to be short and attractive. But beware! Google sometimes ignores this description and shows the first lines of text on your page, so make sure they are up to scratch too.
- The first paragraph of text. The goal is to make sure readers know and understand what your product is in the least amount of reading time possible.
3. Create Shareable Content
Consistently creating content is one of the most reliable digital marketing strategies, especially in the medium to long term.
Invest time in creating a high-quality blog that talks about your business or related topics that consumers will be interested in reading about. The goal is to get the users themselves to share your content, bringing traffic to your website on a regular basis.
4. Take a Chance With Remarketing
A well-rounded marketing strategy guides users through the conversion funnel.
Consumers are in different moments of the purchasing process and they might not be ready to purchase from you the first time they hear about your product. But, this doesn’t mean they’re not still potential customers! You can nurture them over time using different remarketing tactics, like remarketing ads.
Remarketing can also be used on your regular brand followers. Keep in touch with your more dedicated customers (through a newsletter, for example) and of course, don’t forget to tell them about your launch.
5. Create a Recommendation System
Word of mouth continues to be an incredibly effective way to spread the news about new products or services. Users naturally talk to their friends about the products they use and recommend. You can also give them a little push to get the wheels turning. How? By creating an incentive system for recommendations.
Everyone likes getting freebies so all you have to do is offer a discount coupon or free shipping in exchange for them telling their friends. This is a popular tactic used on many apps like Uber and Airbnb.
6. Optimize Your Website Speed
This is a trick that is as simple as it is effective: make sure your website is running at top speed.
There is nothing more frustrating than a website that takes ages to load. A quick and fluid website improves user experience and brand perception.
There are several things you can do to improve your website’s loading times, many involve code and behind-the-scenes processes, so we recommend talking to an expert. In the meantime, a quick fix could be ensuring your images are of a high enough quality to look clear, but not massive files. The bigger the file size of the image, the slower your website will run.
7. Establish Relationships With Influencers
Influencers are the kings and queens of social media marketing. As experts in a given area or industry, they tend to have a loyal audience waiting and willing to follow their recommendations. Think of influencer marketing as the digital version of word-of-mouth marketing.
In order to get bloggers and influencers talking about your brand, the most common strategies are to organize events and to send free samples. Be sure to keep in mind however that you can’t “buy” their opinion or recommendation as they have to be loyal to their audience as well and be honest about what they think. In order to avoid any disasters, take time to investigate which influencers would be most interesting for your product and mostly willing to collaborate with you.
8. Take Care of Your Customer Service
Over the past few years, customers have gotten used to getting answers from companies 24/7 so set up a system to help them whenever they need it.
Customer service is most likely one of the areas in which careful employee selection is most important. Your company’s ambassadors should be patient and empathetic in order to offer your client the experience they deserve.
9. Prepare Your FAQs Before Launching Your Product
When you launch a new product or service, users usually have a bunch of questions about how it works and what they can do with it. The more innovative it is, the more you will have to explain it. Our recommendation is to get as much as possible done and prepared ahead of time by creating a complete and easy-to-find “Frequently Asked Questions” section. Ideally, encourage users to visit it before reaching out to you with their questions and make it as easy as possible to access.
You can even include FAQs in your social content as a way to get ahead of new user questions and share how your product works.
10. Don’t Forget About Email Marketing
Email marketing often gets a bad rap for being out of fashion, but the truth is it continues to be as effective as ever. Don’t overlook this marketing strategy!
In order to effectively implement an email marketing strategy, the first step is to create a database with your clients. The more information you have on each one of them the better. Think about things such as age, residence, children, and of course, previous purchases or products they have shown interest in.
Use this information to create a highly personalized messaging strategy. Try to make the user feel like the emails have been written especially for them. Marketing automation can be a big help in efficiently managing all this information.
Conclusion
The Product Launch Formula is the most effective strategy used by today’s most successful online entrepreneurs. It enables you to launch your products and services in such a way that it turns the entire world into your prospects, opening unlimited opportunities for you.