Tuesday, July 23, 2024

Marketing Tips for Launching a Brand New Product

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Marketing Tips for Launching a Brand New Product

Marketing is one of the most important, if not the most important thing, you can do to propel your business. Without marketing, your product or service will likely not gain any substantial traction. Unless you’re offering the next best thing since sliced bread, it’s going to take some intentional marketing work for your service to be desired.

This is especially true when you are launching a new product. McKinsey Global Institute reports that for every seven product ideas, only 1.5 launch — and only one actually succeeds. This is exactly why marketing is so important. Once a product is ready to launch, your marketing strategy will have a big impact on whether it succeeds or not.

So how can you market your products so that they are more likely to be successful? Here are a few simple tips.

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One of the best ways to launch a product is by marketing in phases. Presales are among the top ways to do this. Investing in this form of marketing allows you to get at least two waves of marketing material out there. It also enables you to get customer feedback before the product even officially launches. Not only that, but it also gives you time to work on any necessary fixes to the product before it’s readily available to the public.

SMS Marketing

SMS marketing occurs when a company sends out promotional content through text messages. This is used to send out time-sensitive offers or other promotional material to existing customers that have agreed to receive such messages.

While this isn’t necessarily a way to engage with new customers, it is a great way to get the word out about a product launch to your existing fans. After all, one of the key goals of marketing is to retain the customers you already have. As many as 74% of mobile marketers feel that SMS marketing is “highly effective” when it is integrated with a full mobile marketing plan. So while SMS marketing isn’t the end-all-be-all, it’s a useful tool to add to your marketing toolbox.

Social Media

Depending on your audience, social media can have a huge impact on your company’s success. Not only is it good for engaging with existing customers, but it’s also a great place to engage with potential buyers. And when preparing for a new product launch, your social media can really amp up the hype. For example, a restaurant promoting a new dinner special on their social media will almost certainly attract customers to try the new dish. Depending on what your product is, social media can be an incredibly beneficial tool.

Your Website

When launching a new product, there must be a place for it on your website. Whether it be a “coming soon” quip on the homepage or a detailed explanation on a page of its own, it needs to be mentioned somewhere. This is especially true once the launch has dropped. If you’re advertising a product and it’s nowhere to be found on your website, how will anyone buy it? Your website is your go-to marketing tool for your company, so be sure to have every important update on there. Don’t crowd your site with information, but know what should and what shouldn’t have a place.

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In addition, consider using cast routing technology so that your customer’s connection is as short as possible, especially around the time of your launch. This will result in faster loading times for your website. If you just dropped a new product and have multiple customers viewing your site, your webpage might crash. When customers are met with a downed website or slow load times, they’re going to abandon your site. Do not give your viewers any reason to lose interest when you’re launching a new product!

While this definitely isn’t everything, these are some of the most important marketing tools to consider when it comes to launching a new product. Knowing how to get the word out in a way that’s appealing to new and potential customers is the key to marketing a new product launch.

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Sara Revonia
Sara Revonia
Entrepreneur, Speaker, Author, and Mom. Sara Revonia’s articles are about business, life, and Entrepreneurship.
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