B2B Business and Trade Marketplace
These Essential Tips Will Help You Market A New Product
If your company has just developed a new product, you are doubtless wondering how to get people to buy it. Sure, you could use the same marketing strategies from previous things you’ve introduced. But things change, and past campaigns might not be a good fit for your new incarnation.
So, by now, you are still sat there scratching your head and wondering what the best campaign strategy is for your product. If you want me to tell you exactly what to do, you’re out of luck. After all; each product that a company produces is unique.
But what I can do is share some essential tips that you can use to form part of your marketing strategy! Want to know what they are? Keep reading to find out!
Choose the right packaging for your product
Believe it or not, many people want to buy something based on what its packaging looks like! For example, take two tins of baked beans. They are both the same price and contain the same ingredients.
One of the tins has a plain white label on it with a boring typeface used for the text. The other has an image of baked beans served as part of a delicious meal on it (i.e. a “serving suggestion”). Most people will buy the latter product because it looks more appealing. And it gives the impression that it’s a superior product to the former.
Packaging is just as important as the product itself. Don’t skimp on how your product is packaged. It could well mean the difference between launching a best-seller and a flop.
Make sure you know who your target audience is
So, you want to spend some money marketing your new product. Do you know who your target audience is? A “rough idea” isn’t a good enough answer. Why? Because you'll end up blowing your budget for an audience that might not be interested in what you’re offering!
Perhaps one of the easiest ways to find out who your target audience will be is to get some product feedback. Get a large cross section of people to try your product out and find out which demographic is most likely going to pay for it.
Typical ways to gain product feedback (after sending out samples) include:
Setting up focus groups;
Asking people to answer surveys; and
Getting them to send photos of the results your product achieved.
Of course, there are plenty of other ways to gain feedback. A quick Google search will list a plethora of methods you could try. The point is you need to narrow down your target audience so that you only focus on them.
Set up a website for your product
Most people would just assume they could “tack on” their new product to their existing site. While that’s a good thing to do, you should also consider setting up a specific website just to showcase your new product.
For a start, it makes people interested in your product feel like it’s an exclusive must-have item to own. Second, it’s easier to measure traffic for SEO purposes. Especially if people only visit the site that want to learn more about your new offering.
Rather than designing the site yourself, it pays to get a pro to do the work for you. They will know what designs will work well for your product. And they can ensure it’s “responsive” (i.e. it works on mobiles and tablets too).
One thing you could do for your product website is to have a counter on the homepage that counts down to the launch date. You might also wish to have an email subscription form on there too so that visitors can get notified when your product is ready to buy.
Set up a launch event
It doesn’t matter how big or small your new product is. What does matter is that you make a big deal out of it. Doing so is more likely to get buyers and the media interested in what you’ve developed.
One way to get noticed is to set up a launch event. It’s a place for business leaders, journalists and financial backers to meet and network with one another. But, more importantly, it’s a brilliant way to launch your new product to the world.
Be sure to invite key influencers to your launch event. The last thing you want to do is only attract people that have no interest other than to consume free food and booze!
I recommend choosing an upmarket venue in a central location. That way, it will be more enticing for people to attend. And it means that transport won’t be an issue.
Show off your product at a trade event
The thing about trade shows is that it gives companies the opportunity to showcase their wares. It doesn’t cost much to exhibit at trade events. It also offers a place where decision makers and product sellers can converge in neutral territory.
But don’t just settle for a simple stand that people will seldom notice. Instead, get a stand builder to set up an eye-catching design for you! One thing you will need is a design brief. If you’re stuck for ideas, check out sites like www.finessegroup.com for assistance.
Make sure that you tell your customers about your attendance at a forthcoming trade show. Some of them will want to meet you in person and learn more about this exciting new product that you’ve got on offer!
Hire a PR guru
Part of any decent marketing campaign is public relations. By hiring a PR guru to help you launch and promote your new product, you’ll get the word out sooner rather than later.
That’s because PR experts often have a plethora of contacts within various industries. They can connect you with well-respected industry movers and shakers. If you can get an endorsement by a familiar public figure or company, you’re more likely to get a boost of interest.
I hope today’s guide was useful to you. Good luck with your new product promotion!