The testing’s complete and the packaging is ready. You have expanded your brand with a tantalizing new product, and you want to maximize its launch to customers. Experts recommend a phase of preparation before the item goes live for purchase. New product marketing is a great opportunity to test fresh strategies for your brand. Here’s how you get started!
Pre-Launch
__________
Set Goals
Do you have the data from previous product launches? It might be a good idea to audit past promotional efforts. Which elements worked? What didn’t work? What will need to change for this new drop?
In terms of metrics for past campaigns, consider:
- how much engagement was created in the first week
- conversion rates in the first week
- web traffic
- units sold
For questions that you may want to ask in order to set goals for the new launch
- how are we measuring our success with this product?
- what are we aiming for?
- what is the length of our scope?
- why do we believe it’s feasible?
Market Research on Similar Products
Is your new product situated in your brand’s niche, or are you branching outward? Does it pair well as a companion to other items in your inventory?
During this stage, you will want to make note of important data which will inform your marketing process:
- what is the largest demographic for this product
- who are your competitors
- what is their branding angle?
- can you point out any strengths, weaknesses, opportunities or threats?
- what are the important keywords you’ll need for search engine optimization?
Plan the Release
Now the stage is set for your product launch to begin! Here are a few things we recommend.
- Design a new website page for the product, including e-commerce
- You may also want to set up a landing page with information about the product and a form for visitors to fill.
- If you have a CRM, set up a list for the landing page form as well as email templates to use for the launch and follow-up
- Create 1-2 paid ads for the campaign with either video or graphic content. You would link them to the landing page for pre-launch and the product page once the launch is live.
- Create anticipation. Plan out exactly how many days in advance you’ll inform your customers of its arrival.
Launch
____________
Start a Countdown
Now the fun begins! Tease your audience with the promise of a new product to spark their interest. For social media, video posts have proven to be effective. Apply a slow-motion effect to your videos for increased suspense.
Countdowns on social media also provide you with the opportunity to interact with your potential customers, as well as direct them to any pre-order campaigns you intend to commence.
Getting the Word Out
Send an email out to your list of leads. You can use this as a chance to segment your current leads into a group specifically interested in the new product. Studies show that a significant percentage of people enjoy the feeling of being the “first” in on a new product, especially if they can promote it online.
Run the Ads
Schedule the paid ads to run for the first two weeks of your launch to capitalize on the novelty of the product. Using the data you gathered during the pre-launch phase, apply the demographic markers for your ideal customer. For extended lead generation, you can push potential customers towards your landing page for more detailed information.
Offer a Discount Incentive
Using a temporary, catchy coupon code may entice customers to commit to buying. If you can package the product into a trial version, offer it as a free gift with purchase! This move will allow customers to try it without feeling the “risk” of paying for a product that they may not like.
Post-Launch
_____________
Share Customer Content
Share content of your customers reviewing the new item! Sharing candid videos and posts illustrates a “fun” aspect of your social presence as a brand. It will inform reviewers that you value their opinions as consumers. Save particularly glowing reviews for use on the website and future advertising campaigns.
Run Retargeting Ads
In the 3rd and 4th week post-launch, run retargeting ads to pick up additional leads from users who showed initial interest, but did not commit to purchase. The ads may not lead to a large influx of sales, however they are invaluable at attaining more information about your potential consumers for future campaigns.
Ask for Feedback
Reach out to customers who have purchased the product! Consumer follow-ups are one of the best methods for strengthening brand loyalty. Sending out surveys can give you useful data on customer satisfaction. By staying in touch with your buyers, you can offer them incentives to become repeat customers.
The moving parts of a marketing campaign can be tedious, but they work in your favor to expand your reach and allow your business to grow. Invest with the best for your brand. We have resources that can help. If you are interested in partnering with an agency who will guide you through this process, please contact Pearl Marketing at 603-732-9070 or at [email protected].
