4 Unique Ways to Market a New Product
Launching a product takes a lot of work. First, you have to come up with a unique and valuable idea. Secondly, your business will need to go through the lengthy processes of market research, production, and getting the product ready to bring to market. But it’s the final stage of the process that makes or breaks your product: the marketing.
You could have invented the most useful product in the world, but if no one knows about it, it won’t make your business any money. It doesn’t matter whether it’s a pair of trainers, a smartphone, or a squeaky dog toy: a solid marketing strategy is essential to promote your product to the world and maximize sales.
There are several ways to market a product, and here are a few of the most effective.
Contests and giveaways
Offering people the chance to win your product for free is a great way to create some buzz and get people talking about it. And the higher the value of your product, the more effective this will be. Use your social media channels to promote your product to your follower base and allow them to enter a contest to win it. To boost awareness of your brand and product, the best way to do this is by requiring entrants to like or follow your social media pages and share the post to take part. This way, you will get more eyes on your new product and have people talking about it before it even hits the market.
Influencer marketing
There are people on social media with millions of adoring followers. If one of these so-called influencers were to share a post singing the praises of your product, you could guarantee that a vast portion of their fanbase would snap it up. Influencer marketing is a highly effective way of boosting awareness and sales of a product, using an established online presence to promote it. This can be an expensive option depending on the influencer’s status and profile, but there are many agencies such as unrulyagency.com who use influencer marketing to help brands meet their goals.
Email marketing
If you have email lists full of customers, leads, and other contacts, you can use these to great effect. Since they have given you their contact details, they already have some level of investment in your business, so are likely to be interested in your new product. Create a targeted email marketing campaign to let these contacts know about your new product and how it will benefit them. You could even offer discounted rates to loyal customers.
Share customer reviews
93% of consumers read online reviews before buying a new product, so leveraging this can be a great way to boost your sales. Ask satisfied customers to write testimonials or reviews on your product, or even film a short video to talk about how much they liked it. Share these on social media and post them on your website, and you’ll soon see your sales figures start to rise.