According to the web research, as many as 95% of new products launched each year fail. Why does this happen? Maybe, businesses don’t reach customer soon enough, or their promotional marketing programs don’t support their product intro.
Today, consumers get information from multiple sources, so this requires multiple marketing channels to ensure the success of our launch. Take a look at some of the marketing approaches you can use when launching your new product.
Our Website or Blog
Before you consider expanding into other areas of online marketing, you need a website or blog that can act as your home base. This website or blog should containing useful information about your company; your site needs to contain information about your new product. Feature it on the homepage of your site and create a product specific landing page that features photos, videos, product descriptions and other content you want to share.
A landing page is the first page on your site that a visitor will see, even before they reach your homepage. A person can reach it by entering a URL or by clicking a link from an e-mail or another website.
There are many techniques to attract people to your landing page, including search engine optimization, social media, advertising, email, etc. But remember, the most important objective of your landing page is to convert visitors in line with your goals.
If your landing page is a product page and your goal is to get a order, your landing page is a success when they add the product to their cart. Be sure to interlink the landing page with the rest of your site. Lastly, pay attention to the analytics and never stop optimizing the page.
Pay-per-click marketing services from Google, Yahoo and Bing can boost awareness of your new product launch and put you in front of a targeted audience. Research the most widely read blogs and websites in your target market, and purchase banner advertising there.
Facebook, Twitter and YouTube can all be used as a great way to inform current customers and contacts about your new product. But don’t think you can just throw the same content on any network. Adjust your messages appropriately for your audience. Also, don’t just make one post and walk away. You need to continue to manage and communicate with your followers in order to build relationships. If you provide them with valuable content, it will lead to sales.
This is one or more mass marketed email messages that target your mailing list. It’s a great way to provide content to people you already have a relationship with. You can offer a small peak of your never-before-seen product, pre-orders, or other exclusive content. Send messages on a regular schedule to keep your product or service in the minds of your contacts.
Online Retail Sites
Partnering with well-respected sites will improve the profile of your new product. Placing your product on Amazon, eBay or Google Product Search puts it in front of people who are already inclined to buy.
Provide samples to key members of your industry. By placing your new product in the hands of those who can influence others by means of a product review, you can expand your reach. Consider targeting the following:
• Bloggers – Approach those in your industry who have active communities and high traffic/subscriber numbers. Be familiar with their blogs, audience and content before providing them with any information about your product. It’s important to treat them the same way like journalists.
• Social Media Influences – Determine the most active social media users in your target market and begin to create a relationship with them. This may take time, and you might not see quick results. However, the feedback they offer is priceless. So is the influence that they have over their audience.
When launching your new product, you need people to act. Direct mail is a straightforward way to get action on the part of consumers. It lets you target prospects very precisely and gets your marketing campaign moving quickly, sometimes in the span of a few days. Sales letters, self-mailers, statement stuffers, postcards and CD mailers all give you different avenues through which to target prospects depending on your product or budget.
Journalists, bloggers, reporters and news editors all get press releases for new products all the time. Press kits take it a step further. By providing journalists with a greater amount of information, there’s a better chance they’ll cover your item. This in turn gives your product even more attention.
They can also be used for conferences and trade shows. Here, they can inform and educate the media about your new product. Depending on your item, it can be less educational and more creative or vice versa.
An industry trade show can be one of the best places to launch a new product. Most companies know this, which can lead to a lot of competition. They’re a natural gathering of your audience ready to listen to your pitch, and are a proven method for finding business and making new connections.
By meeting with other business people in the community, you can get in front of those who might otherwise not have been aware of your new product. They give you the opportunity to get an outside opinion. Group members won’t necessarily be a part of your target audience so you get a different viewpoint.
Most groups only allow one industry representative per chapter (i.e. lawyer, doctor, accountant), which gives you the maximum benefit from your membership. You’re the only one representing your industry. This not only increases the strength of the group, but it promotes an exclusive audience for your new product with little to no competition.
Seminars and webinar
Launching your new product or service at a seminar is a time efficient way to get it in front of as many clients as possible. A seminar allows you to build a case and vision for your product while you’re educating clients about it. It gives you a solid foundation from which to talk about your new product, while allowing smaller companies to appear larger than they really are. Invite journalists as well as your target clients and make sure you set goals for the seminar.
One possible goal could be using it to get 25 follow up sales meetings. Before you even have the seminar, you need to be prepared to follow up. Always make sure that you have the time and manpower to fulfill your follow up activities. It can be as simple as sending out a short thank you email or a follow up appointment request
Instead of relying on a large budget, guerrilla marketing uses time, energy and imagination to get attention for your product. Your campaign should be unexpected and interactive in order to generate a positive buzz for your business. Use guerrilla marketing to get extra attention in a public place or at an event. Have someone dress up as your new product and mingle through the crowd passing out promotional items. It’s a unique way to stand out and be memorable.
New Product Packaging
The way you package your new product matters. You want to get your launch off on the right foot by exceeding customer expectations, starting with their first impression of the product. Creating a unique package design provides your new product with a lasting brand identity.
Think about the retail space. Use your packaging to further differentiate your product from the competition. Good packaging could be what attracts your customers to the product in the first place. If your customer hasn’t seen any advertising about the product, this could be your only opportunity to connect with them.
These 15 marketing tips will help you to reach your new product to the targeted audience. Marketing tips are used to find the conversion rates from the marketing, by using marketing feedback we can improve the number of sales. Share your thoughts in comments section.