How to Market a New Product
Product launches can be intimidating, especially if they’re niche or already saturated. As we’ve been taught by Steve Jobs with Apple, precision and foresight are mandatory for a successful product launch. The iPhone 4 almost doubled in sales what the iPhone 3G originally accomplished. So while it may seem impossible to successfully market a new product, you can still achieve your sales goals if you’re savvy. Here’s a few tips on how to play it smart:
It’s All Relative
If you can find a way your product relates to another pre-existing product, you will be better able to explain to your customers how useful your product is to them and why they need it. For example, if your product launch involves a weight loss product, you may want to point out how similar the results are to liposuction, and contrast how non-invasive your product is compared to surgery. Some methods you can use to market a new product are:
- Contrast your product to another product, explaining why your product is better than the other product.
- Link your product to another product, explaining how your product makes another product better.
- Compare your product to another product, explaining how your product is like the other product. Careful with this, however! You still want to point out what makes your product unique, so it does not seem a total copy of the other product.
Network with Professional Networkers
Word of mouth is the most potent marketing tool known to humanity, so take advantage of it! A major key in learning how to market a new product is connecting with powerful influencers like celebrities, bloggers, and vloggers. They in turn will vouch for your product, which boosts engagement with their audience and increases awareness of your brand. This in turn will lead to many pre-orders for your product launch if you make them available.
Have a Plan, Man!
Start building a buzz about your product as early and quickly as possible, before the product launch ever happens. Keep specific information vague to build mystery around your product and keep your audience guessing. Then gradually release more details as the product launch date grows closer. This will help keep your audience watching and listening for more details.
What Did You Say?
Of course, customer service should be a number one priority for any business, and collecting feedback is always a vital part of ensuring your customers are getting the top-notch customer service they deserve. If you start collecting feedback early as part of marketing a new product, you may have a jump start on ensuring your customer service is up to par on product launch day. You can accomplish this by having what is known as a “soft launch”, where only a few select customers are allowed to try your product early and then give you their feedback. Feedback can also contribute to building your marketing campaign, so make sure that your influencers have access to this data as well.
You don’t need to be intimidated by how to market a new product. Just keep reading and practicing, and don’t give up. Marketing is much like riding a bicycle — at first it may seem difficult, but once you get the hang of it, it’s difficult to forget. If you find it too difficult to do on your own, an influencer can help you figure out many of the ropes. Many influencers can be hired on freelancer sites like UpWork and Fiverr.