No matter how big a company is, the management does feel some jitters before launching a new product or lineup. There are worries like the prospect of it being well accepted by loyal customers and attracting new ones, to begin with. The factors like choosing the right marketing campaign and promoting effectively on social media also creep in their minds. The strategy to ensure a new product launch is successful may vary from one situation to another. However, there are a few proven methods that you can try to ensure the product launch turns out to be a grand success.
Top tips to try before launching a product or service
You may have a lofty opinion about a product your brand is about to launch but beta testing it does pay off! Ultimately, the success of a product depends on public reception. Is there any better way to gauge it than by asking some loyal customers or beta testers to try it? Negative feedback from them may actually delay the launch but eventually, that is beneficial for your entity. It will help you find out issues in the product and get them fixed. It will also aid eliminate teething troubles after launching the product largely.
In an era where the target audience has plenty of options and distractions, your pre-launch publicity should be strong and appealing. Use mediums like TV and social media to generate a buzz before the launch period. This can vary from one brand to another. Big players often start releasing teasers in web and TV several months before the launch. This may not be the case with each entity. The publicity campaign should be carefully crafted and enough market research needs to be done beforehand.
A brand already has a public image and when it launches a new product, the campaign should be designed after studying the existing perception of customers. For example, if a company known for making industrial appliances launches a home appliance, enough research is required before developing the ad campaign. The new campaign should be in sync with the image of the company.
Using platforms like social media you can offer a few promotions or discounts at the time of product launch or just before it. It does not make sense to go overboard with promotions though. You may keep the promotion limited to loyal users or keep it time limited. This creates excitement among existing users and also helps spread the buzz.
Nowadays, the public has become more aware than ever before. There is no use in resorting to gimmicks to create hype before a product launch. When revealing teasers or videos in social media, do not use any term or jargon that can be misleading. If your product has any unique feature, mention it clearly.
In an age where the competition catches up first, you cannot be content with launching a new product, as it is. When you move into a new segment, think of ways to capture the related markets. Keeping eyes open for initial reactions also matter. Sometimes, you may be able to trace demand for related products and segments when promoting an upcoming product.