Launching a new product into the market is not an easy process: creating a clear plan and an ideal strategy requires a lot of energy and patience. You have to be thorough because of so many moving parts, as there is a thin line between success and failure.
First impressions your business leaves on the audience are crucial. They usually become difficult to shake, so you must execute everything to perfection.
Below are some things you should consider when launching a new product.
If you are not promoting your business on social networks, you're missing a huge opportunity. According to a Hubspot report, 71% of users said that social networks persuaded them into buying a product or service. It's also a great way to connect with your audience. You learn about your customer's needs, their purchase behaviour, and which campaigns work.
Social networks can be of great help in creating hype when launching a new product. People will almost certainly try to find you on social media, which is why you need to set up your accounts and be prepared to provide all the information needed.
Posting interesting textual or video stories, humanizing your brand, and creating cool animations will bolster your engagement and social network interactions. This something you should focus on since the algorithm is mostly based on interactions.
Figure out which networks are more suitable for your business. The truth is — you are probably going to be active on most of them to maximize your effectiveness!
You can test-drive what social media network attracts more prospects to your new product or service through placing engaging banners, covers and posting stories on the most popular platforms like YouTube, Facebook and Instagram with the help of a free banner maker.
Producing great content on social networks isn't enough – unless you promote your posts — you will be "invisible" to the vast majority.
With offline ads, you never know to what extent they are shown to your preferred audience. In the digital world, companies evolved their advertising platforms to the point they can guarantee that your ads will be shown to those who have an interest in your product.
Create a campaign by selecting your goals. You can choose to increase traffic on your website, boost engagement, brand awareness, or even generate new leads. You can also target demographics such as age, gender, interest, purchase behaviour, etc. This allows your ads to be shown to the people more likely to buy your product, generating more revenue.
Influencers are the new kings and queens of social media. According to Business Insider Intelligence estimates, brands are set to spend up to 15 billion US dollars on influencer marketing in the year 2022.
They can be effective spokespersons and help you elevate brand awareness. It would help if you considered them even before launching your product, so there is a greater buzz before the product is even available.
Furthermore, reaching out to influencers for your product or service feature is a great chance of gaining access to further prospects' flow. And it will be faster and easier than if you were trying to attract potential customers using other generation efforts single-handedly. With a brand pitch email template at your disposal, you can easily reach out to influencers in your niches if you are up for launching a successful and profitable influencer marketing campaign.
The first step in choosing influencers is deciding between reach and niche influencers.
Niche influencers may have less reach, but they usually generate more engagement (6% compared to the average 1.6% for celebrities). Their following usually consists of a narrow group of people interested in a specific topic which can prove to be better than a broad following of a celebrity. Hint: Combining a few of these micro-influencers can give you a similar reach but a lot more engagement!
Similar to social media, email marketing strategies can help you generate hype around your new product.
Your email campaign has to consist of a series of emails to be more potent. It has to be carefully planned and put together to get people excited about your new product.
Consider implementing email personalization strategies to make your customers more engaged, target them with the offers they'd be interested in, and increase your chances of converting as a result.
Here are just a few things to consider:
At the end of the funnel is where prospects become customers. With an appealing logo, brand message, and engaging design, prospects become aware of your product. They gain interest and start displaying purchasing behaviour.
Finally, they land on your website, and after a few scrolls – they leave? There is only one explanation — your website is missing something.
There are a lot of elements on your website that must work like clockwork. Responsive website design promises minimal scrolling or zooming, which equals less confusion. User experience is big — navigation, filtering, and search buttons are crucial. Otherwise, users may ditch the website instantaneously.
Analytics tools are a must, considering all the information they can provide you. With tools like Google Analytics, you can learn about user behaviour, bounce rate, or even site speed.
Using website heat maps will help you understand customer behaviour even deeper. These tools visualize data from those behaviours in a graphical presentation. It can show you which buttons users are clicking the most or which CTAs they find most compelling.
These tools will help you improve user experience, identify navigation issues, and collect customer data.
Preparing your brand to launch a new product can be fun if you've done your homework. Let's recap:
Be sure to implement these tactics into your strategy. Good preparation brings great outcomes. And, if you need a hand in creating a logo, allow us to help!