The launch of a product is always a moment of great excitement and concern for companies. Will the market identify with the product? Is our price attractive? How to reach new customers? If you are looking for the answer to these and other questions, you have come to the right place! We have organized a tutorial on how to launch a new product, step by step. Check out!
How to launch a new product on the market: 11 right strategies!
The concern with the success of a product launch starts from its creation.
After all, where did the idea for this project come from?
Why is it important?
What benefits does it bring to your customers?
With the product in hand, it’s time to put together a strategic marketing plan and finally reach your customers.
1. Consider who your personas are
As mentioned above, before developing your product, you must keep in mind who are the people who are interested in buying it and why.
Therefore, remembering who the product was developed for is the first step to launch it on the market.
At this stage it will be important for you to know:
- which channels to use to get your product message to your ideal audience;
- what language should be used to create your messages;
- what inspirations to apply in creating your visual identity;
- the type of campaign that should be created and more.
Also read: How to create personas for your business
2. Conduct a market study
This is another one of the steps I hope you’ve taken before investing time developing a product, however, there’s still time to understand:
- in which market your product is inserted;
- who are your competitors;
- where are your possible partners?
All of this will help you discover ways to differentiate your product presentation, allowing you to have a unique and attractive positioning in the market.
3. Product Value Proposition
What is your product’s main value proposition? What makes it the best option on the market? Why does anyone need it?
All of these questions will guide your marketing and sales team in creating text, videos, and images that will convert a customer.
Share this value proposition with the entire company and make sure it is present, in one way or another, in the communication materials created for the product launch.
4. Visual identity
As the name makes explicit, the visual identity of a product is its identity in the market and before potential customers. It’s how customers will know and recognize your product.
Creating a visual identity that communicates your product’s values is critical in the process of how to bring a new product to market. Among the elements that make up the visual identity are:
- Product’s name;
- visual identity manual.
All this must be considered in the creation of packaging, website, landing page, email marketing, publications on social networks, and everything that your company develops over time to promote a product.
5. Pre-launch campaigns
A pre-launch campaign is intended to arouse the curiosity of the market and people.
It draws attention to your brand and arouses interest to know “what’s next”, and can be done in different ways such as:
- viral marketing;
- paid ads on tools such as YouTube and social networks;
- e-mail marketing;
- a series of posts on social media;
- use of digital influencers and more.
Take advantage of the pre-launch campaign to convert visitors into leads. The idea of being the first to know about a new thing can make your potential customer sign up for a landing page!
Use this natural impulse to your advantage and spur lead generation with campaigns like: “Test blindly! Sign up and receive a sample of our product that hasn’t even been released yet!”
6. Actions for loyal customers
Using your existing customer base is also one of the most strategic ways to follow up on a campaign to bring a new product to market.
These customers already have a close relationship with your brand, they know your products and therefore are more likely to trust what you are bringing new and share your newness with others.
Using this customer base is a simple and effective tactic from pre-launch to early sales – and beyond.
One of the ways to bring your product to these customers is to offer something unique and valuable, which allows them to realize that they are important to your company.
Offer an exclusive product sample, a freebie, additional content, call them for tests and market research, ask for their opinion before the product hits the shelves. These are all examples of what to do to launch a new product on the market.
7. Activating leads through email marketing
Whether it’s the leads collected during the pre-launch campaign or the leads you already have in your base, using email marketing to introduce your product is one of the most cost-effective ways to bring a new product to market.
Remember to put into practice everything you already know about email marketing campaigns such as:
- lead segmentation ;
- production of relevant content ;
- creating interesting email subjects to increase open rate;
- A/B tests ;
- Quality CTAs;
- optimization for mobile devices and more.
To manage the flow of product launch emails and all the communication your company does with your leads, you need to know about LAHAR’s marketing automation software. An economical and strategic option for your company to achieve better ROI with the set of Inbound Marketing strategies.
8. Create content for social media
Social networks continue to be a fundamental channel for your company, whether for relationships or for promoting and launching products.
These channels allow you to stay close to users who like your brand and are interested in what your brand has to say, which is why few places are as effective in your project as to bring a new product to market.
Furthermore, social networks have exponential information dissemination power. Enjoy this to your advantage.
To amplify the results, create interactive and intelligent campaigns that make network users engage with your product and your pages.
In addition to the organic reach, it is possible to create paid ad campaigns on major networks such as Facebook, Youtube and Instagram. Take this opportunity.
Also read: Is Google Adwords worth it? 5 reasons to invest in 2020
9. Consider using offline channels
Offline campaigns seem to have fallen out of favor, but the truth is they are still quite effective for some industries. Is it your case? Consider investing in this type of platform, but remember that the cost per 30-second campaign can be quite high.
Put the pros and cons in the balance and include, or not, these channels in your strategy for how to bring a new product to market.
In the video below we show an example of a television campaign used by Skol to promote its new product: Skol Hops.
10. Affiliate Marketing
Affiliate marketing is a strategy that has brought significant results for online stores and for entrepreneurs who make sales through the marketplace.
Have you thought about considering this type of marketing to bring your products to more people?
If you’re curious, please read our special article about; “ What is affiliate marketing and how to profit from it?”.
11. Activation of influencers
Digital influencers are a great shortcut between your product and potential buyers, so strategically using the notoriety, reach and authority of these people is one way to bring a new product to market.
But before hiring the influencer with the highest number of followers on Instagram or Youtube, you need to:
- know the types of digital influencers ;
- understand which influencers have an audience that matches the personas you defined for this project.
Also, remember to align the production values with the values of the chosen influencer so that the result is really efficient.
The following is a successful example of using influencers to promote a new product.
Tools to launch a new product on the market
The set of actions that answer the question: how to launch a new product on the market is extensive and managing all the tactics described so far is, without a doubt, a challenging job for even the largest of teams.