Marketing a New Product
So what actually goes into a successful product launch? If you’re looking to give your product the best chance of success, you must organize all the moving pieces involved in a strong marketing campaign. From gathering a list of audience members to having the right metrics and a creating a structured plan. While most people will focus their efforts around SEO, web marketing, content marketing, social media marketing in service of a product launch; there are many things to consider if you want your product to have a good start out the gate.
Have a Defined Audience
A defined audience can be a set of characteristics based on various demographics used to define your audience, a topic, job title or niche. Targeted audiences also include people who have bought from you in the past, people who maybe you’ve lost and could possibly recapture, or even people who may be using a similar product from a competitor. Use tools like Google Analytics or Facebooks Insights to help you build your custom audiences. The data these tools collect will allow you to see the demographic of users who are engaging with your content.
List People of Influence
This list could be 10 to even thousands of people who could potentially amplify awareness of your product. Nowadays, with social media, anyone can essentially be a person of influence with a platform to connect and communicate to thousands of followers. Create an outreach plan to target and wrangle support from these Influencers. Include in your campaign why each target should care about the product, why they’re going to share and why they will boost awareness. If you can build a successful outreach campaign to Influencers, before you launch, and have a confirmed group of people that have already said “Yes I care, I will share and help boost awareness”; this will greatly improve your chances of success.
List Publications and Media of Influence
Just like we have a list of influential people, publications and media that your target audience members read, watch, subscribe to, listen to, follow and consume are just as influential. From podcasts to shows they watch, blogs or newsletters they subscribe to. Even traditional media like magazines, radio or a YouTube channel. Whatever the publication, those are the ones we want to build a list of. This becomes a part of your outreach campaign and some of these influential people and publications could overlap.
Develop a Sales Plan and Set Goals
Make your goals specific and measurable, not something like selling a million units. Make sure to base them on the industry and nature of your product. Break it down into manageable parts, for example, sell 100 units in 30 days and sell 200 units to local retailers in three months. Also, develop a strategy on how you plan to make sales. For instance, you may sell through a website or via craft shows or sell to independent retail stores. Do you plan to reach customers through eBay, ads or your website? Or selling to your local retail? Consider that most large retailers want to see a track record of sales before agreeing to take on a new product. While it would be amazing to have a store like Wal-Mart sell your product right out of the gate, that may not be realistic.
These are only a few measures anyone marketing a new product should take. Call us today or schedule a meeting online to talk about a marketing campaign designed specifically for your new product.