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7 strategies for new product launches

 
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A product launch is a key part of business success, once you have done your in-depth research and planning and have a complete sales strategy. It is key, when you are ready to present your creation to the consumer public, that you do so in a way that not only demonstrates the relevance of your work, but also differentiates it from the competition.

Marketing is a great ally in achieving this goal. If you have a well-structured marketing plan, you can place your product in such a way that it becomes referential for quality and credibility.

In this article, we will show you 7 great strategies your company can use to launch a new product onto the market. So, keep reading and check it out.

  1. Marketing he product to internal and external customers

If your company has a loyal customer base, it is advisable to create a specific launch campaign aimed at this audience. To achieve this, focus on those consumers who have a profile compatible with the product you are launching, piquing their interest in your business and further strengthening your relationship with the leads you already have.

You should also have a good strategy for attracting external customers, so that more and more people get to know about your products and become interested in them. To do this, you need to draw up a creative plan and, at the same time, demonstrate the qualities, differentials and advantages of your product when compared to that of competitors.

  1. Use of social networks as a marketing tool

Social networks, with their diverse audience, formats and profiles, are great tools for marketing a product launch campaign. They are accessible to a large part of the population and allow you to categorise your audience according to the objectives you want to achieve.

Another big advantage is that you can measure results easily and research beforehand so you don’t get any unexpected results. In this way, you can make adjustments and increase your brand’s scope and strength in the market. It is also important to have an up-to-date website that gives all the information about the product and where the customer can ask questions about the product and get in touch when they need to.

  1. Marketing using printed material

Even in the face of the strength of social networks, printed media options continue to be great alternatives for those who wish to expand the reach of product launches. There are several options. Do your research on the profile of your target audience so that you print well-directed flyers, pamphlets, magazines, newspapers, catalogues, newsletters and other resources.

The more knowledge a manager has about his audience, the more likely he is to come up with an efficient plan to launch his new product. Always research your market and maintain a good dialogue with your customer. That way you can listen to and meet the needs of your audience.

  1. SMS Actions

Another more economical but very effective option is SMS, since smart phones are used daily by about 235 million people in Brazil alone.  Used correctly, smart phones can reach a huge audience and market your new product both to new customers and to your customer loyalty base.

A study conducted by Leads360 concluded that SMS campaigns have a high open rate and can reach up to 99% of the public. Another important fact found by the study is the conversion rate, which had an increase of around 328% in the companies analysed. Among the great advantages of using SMS are:

  • it is a cost-effective and efficient means of outreach;
  • it does not require internet to reach the target audience;
  • you can personalise the sender ID;
  • you can send alerts on the mobile phone lock screen (flash SMS);
  • high rates of return;
  • improvement in return on investment (ROI).

 

  1. Marketing with influencers

If advertising is the soul of business, influencer referrals can be very important in conveying an image of credibility and boosting the power of your brand when it comes to closing deals. This is because using someone famous in your advertising campaign gives a message of security to the end audience, increasing the chances of conversion.

When it comes to deciding who will be the face of your new product, you must find a name that is familiar and well-accepted amongst customers in your sector of the market. Do your research and identify possible good influencers at this crucial moment of your strategy.

  1. Marketing events

Starting out on the right foot is always very important. A launch event is a way to show everyone that you have a new and differentiated product on the market, as well as a way to make your presence known and to generate word of mouth referrals. Invite customers, suppliers, employees, authorities and others who will make for a brilliant event.

You can plan a mixed event, with special attractions and demonstrations of why the product presented should be considered as a good option in face of the competition. An effective way of attracting people’s attention is to send an invitation to the media, inviting them to follow the launch and write articles and content related to the event.

  1. Invest in video marketing

Video campaigns are good for engaging people. They are always a great way of optimising resources and attracting more people. With the advent of websites specialising in video playback, it is possible to get millions of views in a short campaign time.

Another traditional and equally lucrative option is TV commercials, which can reach audiences with very different profiles and have great power of persuasion over the consumer. However, if you do opt for this method, do your homework first, since television ads can be more expensive than other audiovisual platforms. If the audience is more segmented, you can also consider advertising in cinemas, during premières of blockbuster films.

In this article we talk about 7 strategies that can be implemented when launching new products on the market, to enhance your reach and optimise the chances of acceptance and, consequently, the success of your product on the market. It is important to remember that this process involves several stages of research and planning, so you need to be as prepared as possible.