According to Entrepreneur, 72% of new products fail to meet revenue targets, because companies do not spend enough time planning a strategy to launch their product.
It goes without saying that you need to have a concrete plan in place to bring your product to market, to generate a buzz around it and sell it to early adopters and eventually your broader target market. In order to do this you need to get a clear idea of what marketing techniques you’re going to use, how long it will take and what resources you need to make sure you use these techniques successfully. You also need to understand your product completely in order for you to successfully sell it.
Below are some suggestions to ensure that you have a prosperous product launch:
- Start Blogging Write about your new product, and create excitement and hype around the launch of this new product. Use video to generate more interest
- Hold a Webinar To introduce your new product and create an interactive platform to connect with early adoptors, your existing clients and potential new clients
- Create a Podcast With early adoptors to help generate interest around your new product
- Repurpose Blog Postings Blog postings can be repurposed into a slide share presentation
- Use Explainer Videos Upload explainer videos to YouTube
Infographics Create an infographic that people want to share
Create Press Releases, Fact Sheets, Videos & Hi Res Imagery Post to social media and involve your community where possible
- Get Early Adopters on your Side Get early-adopters onboard as early as possible
- Connect with Influence Marketers Positive endorsements make your product launch much easier and increases the possibility of a successful campaign
Influence marketers need to be supplied with pre-launch information and product demonstrations well in advance of your launch to ensure that you get their positive reviews are out early. Testimonials from experts are a great way to promote your new product.
Building a presence through conferences and trade shows is another way to get clients and potential new clients excited about what you have to offer.
One of the most important things to do prior to your product launch is to create and grow a database of all your clients and targeted new clients to use for bulk emailing. Through bulk emails, you can create click throughs to your social media platforms as well as your website and YouTube.
Set up a teaser campaign to build suspense and generate interest prior to launch date. This is a great way to build excitement and create customer enthusiasm without giving away your innovations.
Promote with content – content marketing is a great way to drive leads in an ongoing fashion, but it can be just as effective when you’re looking to launch a new product.
When using social media to promote the launch of your new product, choose images that communicate your professionalism and expertise. Fact is 17% more people are persuaded by content with imagery – our brains are programmed to respond to imagery.
Create and post shareable images and video content. Infographics are images that display facts and statistics in a creative and engaging manner. It’s the perfect way to generate noise around your product. Social Media Today reports that 41.5% of marketers say that infographics and other original images are the most engaging.
In the planning stages of your New Product Launch, select visuals that will not only support your product but your entire Brand Personality. Images that are high resolution, convey a particular lifestyle where relevant and are easily related to, work best. Emotions need to be triggered in order to completely engage with your client. Remember that people buy with their eyes and hearts, before they buy with their minds.