10 Powerful & Effective Ways to Market a New Product

Getting the word out on a new product can be pretty challenging. You find that there may be similar products that already have a lot of market awareness due to extensive advertising by the product owners. You may also be facing the challenge of not having enough money for aggressive marketing. Yet you know that if you do not apply the proper marketing techniques, you will not be able to sell. If you are currently in this situation, we will share with you ways of promoting your product.

1· Utilize Google My Business

Google My Business allows you to promote your products in two ways. The first is to utilize the Promotion option, which you can access when you create a Google post.  The second is to upload high-resolution images which are sure to attract attention. Take it a step further by having an FAQ section, so that you provide the relevant product information even before a customer asks.

2· In-Store Promotions

In-store promotions work well if you have a physical store. You need to get people to walk in through the doors, and you can use attractive branding to generate interest. Now is also the time to focus on the promotions and discounts on the new product. Create a sense of urgency using language like ’10 % discount for the first 50 buyers.’

3· Use of Events

Hosting an event at your location will get people to know about you and your products. Depending on the kind of product you are launching and the budget you have, you can decide on the type of event to host. It can be as simple as an open house, or a big event like a family day. If you are launching something like a beauty product, you can host the event at a spa so that you give your customers a treat for attending the event.

4· Consider Exclusive Previews

You have very loyal customers who may be happy for a chance to test the product before you officially launch it. Now would be the time to engage them. By making it an exclusive preview offer, you will generate interest while showing your customers that you value them. You can ask them to do a review and if possible, even get video testimonials that you can use as part of the launch material.

5· Use Social Media Platforms

You can generate a lot of interest in a new product on your social media platforms. You can give discounts for early buyers, or even set up contests with special prizes. The advantage of using social media is that you can bring in an interactive, fun element. You also get to launch your product to a broad audience base. And most of all, you will attract new traffic and followers if you use the right tactics.

Encourage your followers to share, like, and comment, so that you can get their feedback. You can also offer discounts or other prices for those who send referrals your way.

When you are on social media platforms, forget about aggressive advertising.  Focus on telling a brand or product story and how it will make a difference in the consumer’s life. People respond better to an informal approach on social media platforms.

6· Email Marketing

It may interest you to note that 82% of consumers will open emails from businesses that they are aware of. A further 44% will purchase at least one product through the use of promotional emails. Sending communication on the launch of your product is, therefore, an excellent way to advertise your new product. The advantage of email marketing is that you can use the newsletter format to give a lot of information. You can also offer discounts or other promotions to generate that extra interest.

7· Use of Facebook Ads

Facebook is a fantastic marketing vehicle, and the ads are a useful marketing tool. You have the advantage of targeting a specific audience which you can segment. Target using age, income, gender, special interests, location, among others. You are therefore able to determine the budget you want to allocate to run the campaigns.

8· Send Out a Press Release

Public relations can help promote your new product. You can, for example, send out a press release on the launch of the new product depending on how unique it is. If possible, let the media get a preview so that they know what they are writing about.

9· Consider the use of influencers and bloggers

The main advantage of using influencers and bloggers is that they tend to have significant social media following. The followers are also likely to listen to their recommendations with regards to products or services. Ensure whoever you bring on board is credible, and has a good grasp of the type of product you are launching. You may need to give them some products so that they can provide reviews. Even consider paying the influencer so that you can be sure that what they say about your product is positive.

10· Analog Advertising

The online space has made it possible to advertise your products without spending too much money. However, analog advertising still has a role to play with regard to awareness creation. It may be a bit costly to advertise on TV, radio, or print, but you have the advantage of reaching a broad consumer base. You must choose the right channel because you do not want to pour money down the drain. You know who your target audience is, and you know which media they consume. So choose wisely, and use the little budget you have to create the most impact.

Final Thoughts

Using the right techniques to market your new product is essential if you hope to generate a high level of awareness. The right tactics will generate many leads which you must convert into sales quickly.

Remember, before you launch a new marketing campaign, you need to know your audience well. You also need to know which media channels they consume so that you target your advertising correctly. Consider putting aside a proper budget for the promotional campaigns you will run.