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How to Effectively Launch a New Product

Estimated reading time: 3 min

A product launch will be a busy time for a business, because the whole company will be taking steps to create a marketing campaign, reach the right buyers and build PR exposure.

However, with so many tasks taking place across the company, it can often be easy to overlook many effective marketing opportunities. We are therefore providing helpful advice on how to effectively launch a new product.

Create a Successful Sales Plan

It is important you approach each product launch differently. Each time you want to promote a new item or service to a customer, you must develop a unique sales plan. Within the sales plan, you must set goals for how many items you expect to sell within the first year, second year and fifth year.

You must also identify your core target market so you know exactly who to advertise a product to, and you could use this data with paid social media advertising placements, so you can reach the right demographic with the right product.

The plan should also determine how you are going to bring your product to your target market. For example, will you sell the item directly to the customer or with a third-party supplier?

Animated Product Videos

Once you know exactly who you need to reach and how you are going to reach them, it is time to start creating the high-quality marketing materials. While many people will turn to the likes of SEO and PPC campaigns to drive traffic to their website, one of the best ways to ensure people engage with your brand is to create an entertaining product video.

With the likes of Facebook Video set to become the next big app, you should already be taking steps to incorporate marketing videos into your campaigns. This is your chance to be different from your competitors, as you can add personality and fun to your branding. If you want to stand out from your industry rivals, consider an animated product video, which will capture the audience’s attention, whilst explaining the new product and telling your company’s story.

Expand to a New Market

If you already have a warehouse of established products, it can be tempting to simply integrate the new item into the same sales process; however, you could be missing out on viable sales opportunities that could maximise your ROI.

Do not be afraid to reach out to new buyers to promote your new product. For example, you could promote the item to powerhouse companies to make a bulk order for sales in their stores. You simply need to find the right buyer and make a great presentation – and you could even use the animated product videos mentioned above to help you make a pitch.

It is not just powerhouse chains that may fall in love with your product. You can also make a pitch to TV shopping networks, various online stores and catalogues. The worst that can happen is they say no, but you will not know unless you try.

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