Every year approximately 30,000 new products hit the market and 80% of them don’t make it and end up failing.
Do you have that one idea that you think will surely be a success and not part of that 80%?
When bringing your product to life, product development is important, but it’s vital that you have a killer product launch marketing plan when the time comes to introduce your product to the world.
Do you have a great new product idea and are ready to take it to market? Keep reading to learn a new product launch strategy. This guide will help you enjoy success with your new product launch.
Table of Contents
What Are Your Objectives?
This is one of the most important product launch steps. How will you measure success? Do you want likes or views on social media? Are you expecting downloads? Is it a certain number of items sold in a predetermined amount of time?
Once you’ve defined your objectives, you should set your goals. 500 items sold in a week? 500 views within the first 24 hours? Make realistic and attainable goals.
Messaging
Your messaging needs to be free of extra noise. Concisely point out what makes your product different. What problem does it solve? Why is your product better than the competition?
Make sure your message is the same on all of your marketing platforms so that your messaging will make people think of your product everywhere they hear it.
Define Your Audience
Who are the people that need your product? To what age group are you pitching your idea? What will the product do for them? When you know who will be using your product, you can plan the launch to target that group.
How Will You Market the Product?
Will you use social media? Will you use influencers? Choose the marketing strategies that will get your product out to your target audience.
Are you trying to reach a younger crowd? Instagram might meet your needs. Is it a product for an older population? Facebook or television may reach that demographic better.
Email is another great way to reach your audience. Use an eye-catching subject line with a teaser to pique curiosity.
Use the Element of Suspense
Leak minimal information about your new product. Keep people wondering and get them excited about what’s to come. Anticipation and surprise are involved in a lot of successful product launches.
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What’s Your New Product Launch Strategy?
Now that you know how to plan and execute a new product launch strategy you’ll be on your way to enjoying the success of your product. The building blocks you put in place will help you create a strong plan to launch your product.
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