It can take years to design, test, and refine a new product. Once these processes are finished, it is not uncommon for a company to have spent tens-of-thousands of dollars or more. Now, it is time to market that new product. But how does one go about that task effectively? With so much riding on an effective (and profitable) launch, business owners must be prepared for this phase of the business. Here are some cost effective tips to quickly get your new product on the market:
The essential goal of any new product launch and it marketing efforts is to get the word out to potential customers that the product is ready. Without this marketing effort, the new product is not likely to generate enough sales to bring in a profit. The good news is that it is much easier to market a new product today than it ever has been before. One of the most powerful, and affordable, means of letting the world know about your product is through a press release.
Press releases have been used for ages for identifying new products and for generating some buzz around those products. Today, there are three major ways to use a press release. The first is through online press release distribution venues. These venues will carry your release into markets that are either local or global and have the potential to reach millions of people. The second venue for a press release is through printed materials such as newspapers and magazines. And the third venue is through trade publications be they online or printed. Trade publications are more specific to your potential audience which can make them very effective as they narrow the audience into groups that are truly interested in your new product.
In the digital age, it is important that a new product marketing campaign have both a website and a blog. The website can be used to give detailed information about the product as well as help brand the company and take secure orders. Because of the way a website is laid out, customers can browse various pages of interest, making it very easy for them to find the information that they need. A blog can be used to keep information flowing on a regular basis about the new product. A blog is also an excellent way to get better rankings on search engines as long as the blog is active and relevant to the product.
For physical products, business owners may wish to host local demos of the product. This entails hiring and training personnel who will be able to present the product to the public via tradeshows, conventions, store openings, or virtually any other place where real people can view the product and place orders. Along these same lines, owners may wish to institute a distributor program or look into forming an affiliate’s market for the product. Both methods have the potential for getting a lot of people out there marketing the product for you.
Working with distributors and affiliates requires some time and preparation so if those options are of interest, it is best to get started on working out the details prior to the launch of the new product. While each requires more time and effort on your part, each can potentially bring in a lot of new business once they are off and running.