It takes a lot of work to come up with a new product or service, and once it is ready, the work is far from over—it still needs to be launched and promoted through different marketing channels.
Even if you have the best new product or service available, if you don’t effectively promote it, you may miss out on possibilities or even wind up losing money.
We believed it was appropriate to provide you with some advice on this subject because so many firms are changing their products and services in response to COVID-19 and are unable to afford opportunity losses.
The most effective techniques to advertise a new good or service
There may seem to be a limitless number of possibilities available when it comes to marketing a new good or service for your company. Determining where to begin and which promotion strategies will produce the best results can be challenging.
The fact is that there are many free ways to advertise your company, and which ones are successful will depend on your niche, product line, and target market.
See which of the 12 techniques listed below makes the most sense for your company.
1. Exclusive Sneak Peek For Loyal Customers
Because they are most likely to acquire your product and spread the word about it to their networks, your devoted consumers are an important component of your marketing strategy. An online tour, preview, or demo are some examples of private, in-person, or virtual pre-launch events that could be used for this.
Alternatively, it might be a unique invitation to try it out and provide feedback. These special offers are not only a terrific way to keep your customers engaged, but they also show them how much you appreciate them.
Engagement and loyalty are key components of any effective growth marketing strategy.
2. Make An Exclusive Opening Offer
You can make your new product or service available as a part of a special introductory offer rather than merely advertising it. This agreement may be in any of the following forms:
Price reductions.
Discounted package or bundle.
Joint advertising with a related company.
With a purchase, a coupon, or a voucher
Deal of “buy one, get one free.”
If you have a loyalty program, you get double the points.
Every referral earns a free prize.
Whatever promotion you receive, make sure to highlight that it is temporary. Customers will feel a greater feeling of urgency to buy if their purchasing power is constrained—either by time or inventory.
3. Run A Contest On Social Media
Social media competitions are a fun, simple way to interact with clients and attract new prospects for your company. Facebook contests are a wonderful approach to offset the platform’s limited organic reach because they bring in an average of 34% new customers every campaign.
In terms of positioning, the winner(s) of your Facebook or Instagram giveaway should have the chance to be the first to use your new product, receiving it for free or at a reduced price.
4. Use Email To Tell About The Product Or Service
Did you know that 76% of email subscribers have made purchases as a result of receiving an email marketing message? Additionally, 82% of customers open emails from businesses. A great way to spread the news about your new product or service is via email. Additionally, it serves as a fantastic incentive for first subscriber signups.
You can run an email marketing campaign expressly about this new product—possibly as a series of emails leading up to the launch date. Or perhaps you should make it the main topic of your subsequent email newsletter. This email might be sent to your entire list or, in support of option #2, it could contain an offer that is only available to subscribers or paying customers.
5. Create A Blogpost
You may not have a landing page for customers or subscribers to visit while promoting your new product or service. After all, your new product can simply be an improvement to an already-existing platform or account. In this situation, your objective can instead be to engage dormant clients or to get your current ones to become more active.
A blog post about the just-released product is a terrific approach to elaborate on all of the specifics, features, and advantages you would ordinarily provide on a landing page. You may send the link to the blog post via emails or social media channels.
6. Share Client Testimonials
Allowing your consumers to promote your business on your behalf is one of the best ways to advertise a new good or service as well as your overall brand. You can then invite them to write an online review of the new service or submit content for a testimonial if you use some of the previously stated strategies (such as offering an upgrade or free trial).
7. Make A Social Media Post
If you’re utilizing any of the aforementioned strategies to market your new product or service, be sure to let people know about your specials and promotions on your social media pages (as many of the companies did in the examples above). Your followers can easily share your article to their profiles, making this a simple method to connect with your audience. The ability for clients and potential clients to ask inquiries about the product in the comments section is another advantage. Your responses to their inquiries can act as an organic FAQ. A landing page or blog post with extra details may be linked in the post.
8. Promote On Facebook
Facebook advertising provides access to a sizable audience of potential customers for your new good or service. Facebook ads are particularly helpful because the user-provided individualized data allows for incredibly precise audience targeting. You can take into account things like gender, age, geography, interests, marital status, occupation, and more to make sure you receive the best value. Additionally, there are a variety of options for ad kind, budget, and campaign duration, allowing you to meet your objectives while staying within your budget.
Frequently Asked Questions
Bottom Line
The most effective strategy to market your new product or service will rely on the channels and online habits of your target market. Regardless, you ought to cross-promote and leverage several channels.
You may anticipate higher levels of interaction as your messaging becomes more unified and consistent and as your audience becomes more familiar with it.
To attain the outcomes you desire from your upcoming product launch, software upgrade, or new service offering, try out the tactics mentioned above.
Want to build a solid strategy to promote your new product or service? Book a strategy call with our experts today!
