How to execute a successful product launch
Launching a new product or service is an exciting time for any business and we understand just how important it can be to get it right! This blog post is the second instalment of our two-part product launch series where we’ll discuss the marketing strategy and assets you’ll need to execute a successful product launch. For more advice on how to begin preparing for your launch, click here to read the first part of our series.
If you’d like the assistance of a marketing agency for your product launch, we’re here to help! Contact us on email@example.com or call 01787 223850 and tell us all about your new adventure.
In the first part of this blog series, we discussed how you might spread the word about your new product through external bodies such as newspapers or influencers. This is called a PR strategy and is often a highly successful way of generating some buzz around your product.
It isn’t the only way, though. Sometimes a PR strategy isn’t the right approach or, simply won’t be enough. It is important that you also focus on spreading the word through your platforms such as your physical store, website or social media profiles. Whilst your PR strategy is all about getting journalists to pick up on your story, your marketing strategy is targeted directly at your ideal customer base.
Let’s run through a few examples of the marketing assets you’ll need to execute a successful hard launch:
Social media content
There are lots of creative ways of using your social media accounts to spread the word about your new product. If you’ve got an existing social media following, why not tease your new product or service a couple of days before the launch. This is a great way to entice your existing customer base.
You should also consider how you want to reveal your product when the time is right. Will this be via a video, graphic or perhaps even a competition! Hosting a giveaway is an effective way to generate interest in your product and spread the word organically.
If your budget allows, you might also choose to engage with appropriate influencers. This might be gifting them your product in the hope that they will discuss it for their followers. Or, you could propose a working relationship with them. For the right demographic, influencers can be the most effective way of driving sales.
Update your website
If your new product will be available for purchase online, it is key that your website is ready and prepared to handle new orders. Consider featuring your new product on your homepage and guide users to the information they need to purchase in as few steps as possible.
Alternatively, you may wish to build a separate landing page to inform your visitors about your new product. This might be particularly true if you’re launching a new service. For example, a hairdressing salon now also offering manicures! The landing page might feature some information about the manicurist, a price list and a call to action to book an appointment.
A landing page is a great place to direct your potential customers and provide them with the information they need about your new business venture.
If your business has physical stores or centres, you’ll likely want to advertise your new product or service through some point-of-sale print assets. The possibilities with this are endless, from shop window displays and posters, to till point promotions and more. At redPepper, we’ve got experience in producing a wide array of print assets, click here for more information on our design and print services.
Depending on your customer base, you may also choose to incorporate direct mail within your launch strategy. Typically speaking, a younger demographic is easily reachable via digital channels like social media, however, for a slightly older demographic, direct mail could be a more appropriate fit.
Pay-per-click (PPC) campaigns
PPC advertising is another useful service to add to your product launch strategy. PPC adverts can be found on search engines, such as Google, or social media platforms, such as Facebook and should be designed with your goals in mind. For your product launch, your overall goal is likely to be to generate conversions or purchases! However, you may also want to create an awareness campaign to generate interest in your brand and product.
For more information on PPC advertising and whether the investment is ideal for your business, take a look at our previous blog post.
If you’re yet to build an email marketing database, this may be a strategy you implement later down the line. However, if you’ve got an existing customer database, no matter how modest, email marketing could be another fantastic tool to leverage for your launch.
Any GDPR compliant data list will be comprised of individuals who have opted-in to receive marketing emails. This is great news as these individuals have already shown interested in your business! Teasing your product ahead of time, or sending an email out at the time of launch is a low-cost and effective way of marketing your product to a dependable customer base.
Your post-launch strategy
Your product has successfully launched and all of the hard work is over…right? Well, not entirely. You’ve likely overcome lots of hurdles getting your product or service to the launch phase, but it’s important not to relax entirely.
Continue to listen to feedback from your new customers and don’t dismiss anything unsatisfactory. You should be prepared to make on the spot changes if required. Adopting a flexible approach is often the key to great marketing!
Once your product has launched, continue to look for opportunities to spread the word. Here are just a few ideas:
- Host a webinar talking your new customers through your product and how to use it
- A Q&A Livestream from your social media accounts
- Share your product on your own personal social media pages & encourage your family and friends to do the same
- Write a blog post about the process of creating your product
- Ask for customer feedback and reviews about their experience with your product, service or business – share these reviews on your website and social media profiles
Every new brand or product is different, what works for one might not work for another. However, we hope that this blog post has given you some inspiration into how you might execute your product launch. Just remember to keep your target audience in mind and use data where possible to inform your decisions.
If you’d like the help of a marketing agency in launching your new business venture, product or service, we’d love to assist! Contact us today on firstname.lastname@example.org to get started.