Introducing a New Product

When introducing a new product, product placement and market awareness are the most important factors. During product development and while introducing a new product, you should concentrate on market research by accessing members of the market to get their opinions on the product. Use this information to determine how you will go about launching your brand.

Get People Talking

Start by drawing up a press release to submit to print and online publications. Include information about your company, the product’s description and where people can find it. You might also ask specific trade publications or blogs to complete product reviews to help spread the word about your new product.

If you have your own blog, ask members of your target market to write reviews or testimonials. You might even start a web series featuring members of your target market trying out your new product, and in doing so giving a detailed product description or expert review. This is a great way to create a buzz through several different mediums.

Get Your Product Out There

Since you’ve already determined your target market, you should find out how you can access them regularly. Introducing a new product requires that your get in front of your target customer and hand out samples or coupons. If you are targeting young mothers, you might set up a booth in the front of a supermarket or large retail store. If you’re targeting college kids, you might set up a colorful display at a music festival or sporting event to draw them in.

When introducing a new product, hitting the streets is the perfect opportunity to tell people exactly what you want them to know about your product, before they hear it from someone else. When introducing a new product, you should also provide samples to the public. This gives you an opportunity to see their immediate reaction and ascertain popular opinion. Investing in your customers by providing free samples or promotional gifts gets your product’s name out to the public and can possibly yield very lucrative results.

Get on the Web

If your product is only available online, or if you’re simply trying to increase your Internet buzz, there are several ways to lead your customer back to the web. Create a QR code that links to your website or social media accounts and place it on the side of your booth or on a static sign. This is a great option if you have long lines for samples. Your target customer can take pictures or tweet about your product while standing in line. They won’t get annoyed with the long line, and you’ll get a little free online marketing and promo.

Introducing a new product is simple. You need to get in front of your target customer and get them talking. Customers create the best advertising and marketing strategies, so invest in your customer and let them work for you.

More Launches With a New Product Marketing Strategy

It brings a lot of excitement for a business owner to launch their new products. This is of course because after long time preparation, you are now ready to let the public know your product and put an assessment on the feasibility of your product. Aside from that, recovering investments and earning profits will start rolling as well.

Successful launching of the product is the result of careful and comprehensive research and studies. It is a process that requires a lot of effort. You can’t just go out and launch your product in the open. Long term product success means long term hardships as well. A new product marketing strategy of producing new product for follow up launching and distribution has claimed that most business owners have gained lots of profits and stayed being successfully stable through it.

Being creative and innovative will give you an advantage in producing fresh product to be a follow up of your previous product. These products will generate more money at the same time that you generate profit on your other products as well. So don’t just be focused on the present condition because new product launch can really be a perfect way of having more profits. You don’t have to worry about new ideas regarding the production of new products because there are Product Launch Managers who can help you have an eye on that.

On the other hand, extending the range of your product should only be done when your clientele are ready to purchase something new. Existing needs will determine whether the market is ready for the new product or not. Timing is important as well. If you launched your product too early or a bit late from the actual demand of your market, then be ready for a failed launch. However, your efforts will not all be wasted. It will just take longer time and more money to be allotted before you achieve success. As you add new products to your business, focus will be a very critical aspect. Multiple products that are launched should be intended for various targets and should be located on different areas too. You can’t offer multiple products on the market all at the same time in as much that you can’t let a single team handle multiple products as well. Simultaneous launching of different products is important to avoid confusions and in order for the team to be focused, one team should be assigned to a single product only.

The two most common mistakes committed by business owners are the lack of focus and innovation. To be particular, companies tend to develop and introduce too dull products that can’t cope with the expanding market. Or, in some instances, they tend to launch products that failed to reach the expectations of the market. These are also short in business strategy needed in the promotion of the product. If the launch is successful, there will be a boost on the sales. But is the launch failed, recall of the product will be done.

If you have considered these things before launching your product, then you can expect success and stability on your product launch.

New Product Marketing Strategy

Marketers have numerous tried and tested methods for developing successful new product marketing strategy, many of which include some kind of social media element. This means that a new product marketing strategy is now largely reliant on the Internet. Success always starts with a strategy, and for your new product, this is a necessity.

Internet marketing has become so vast that marketers need different strategies for marketing products through different online platform. A Pinterest strategy will not look like a Facebook strategy; therefore, it is important to determine what kinds of Internet marketing are most appropriate for your product. However, there are some general practices that should always be applied.

Finding Your Demographic

When developing your new product marketing strategy, start by compiling a list of the kinds of people who will be most interested in your product. Be as specific as possible. It might be helpful to take your description of your target market and identify real people on social networks who represent your target customer.

Generate a Buzz

Offering freebies is also a great way to generate a buzz about your product online. Ask people to share or Retweet a photo of your product for a chance to win one for free. Freebies and promotional offers can also help to brighten up your everyday press release to bloggers. Find a blog that has a niche that relates to your product and offer them free samples in exchange for writing a review of your product.
If there are celebrities or industry influencers that fit your target market, offer them freebies. If they like your product, chances are they’ll send a “Thank You” tweet or post that will drive loads of online traffic to your product’s social media accounts or website.

Use SEO

New product marketing strategy should also include Search Engine Optimization (SEO). Analyze your target audience and create a list of keywords they might use to search for similar products. If possible include SEO in your product description or any press releases you submit online. Implement SEO through developing a blog as a part of your product’s website. Your blog’s content determines the success of your SEO strategy. Chances are competitors are using the same words, so providing useful content for your target market is important.

Use blogging and other forms of social media to become an expert in your product’s industry. Use websites like MeetUp and Eventbrite to create powerful events surrounding your product and press releases to tell people about the events. Examples include gallery showings, tastings and fashion shows. Also, join or create LinkedIn groups where you can share information about your product on discussion boards. Sharing and linking back to your website through these social media outlets will also help to build your SEO profile.

Creating a new product marketing strategy is necessary for launching a new product in any market, online or in brick and mortar stores. While not every plan is successful, it is almost impossible to be successful without first developing a plan. A new product marketing strategy is key.