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Product Launch Strategies
Product Launch: Both established and developing market firms have one thing in common: they all want to make their products as appealing as possible to the maximum number of purchasers in the shortest amount of time.
There is no better resource than designing a good launch plan that successfully publicizes your products to meet this objective. This plan aims to use clear strategies that help you stand out from all the offers now on the market. These can be offers, presales, or digital platforms for your marketing campaigns.
What is The Launch of New Products
A new product launch consists of offering new market solutions that could be of interest to an audience of consumers. The launches are generally accompanied by an action plan that involves tactics, activities, and processes to be carried out when making a new product known to the market.
Launches are the perfect opportunity to highlight a product’s benefits and weave them closely with customer needs.
The launch of a product mustn’t be taken lightly since it depends on this that the good offered enters the market on the right foot. For you to plan your launch, we share some strategies that will enhance your presence.
10 Product Launch Strategies
1. Presale Strategy
Let’s start with a launch strategy that anticipates the sale of the products. This strategy attracts the potential buyer’s attention with an offer or trial version for a specific audience. You can also create challenges or content packages useful for your buyer personas.
In general, these strategies capture the attention of an interested public that can then buy the product or follow your brand for a longer time. In addition, they are an element that you can easily share on your social networks and website, and you can promote them on the channels of your strategic partners and other collaborators.
Video games have made an art out of this method. Announcing your product content through a pre-launch allows you to offer something extra to consumers; this attracts the public eager for new experiences.
2. Strategy of Interaction Dynamics
It is also possible to create interaction dynamics between your company and buyers. Please think of the possibilities that a photography contest gives you, the realization of a creative video, or a testimony of why they refer to your product.
Your social networks will support these dynamics so that you can expand their effect through attractive hashtags or labels related to each platform.
Use a novelty topic and lead your audience to discuss it from a perspective related to your business.
3. Website Launch Strategy
Having a website is essential for today’s business. With the right tools, it is straightforward to create your own and start generating content that organically leads to your product and reflects your brand identity.
To use this tool as a launch strategy, you need to have a well-positioned website in search engines so that traffic is constant and you have better opportunities to place a successful product on the market. With the support of our essential guide, you will have the basic skills to generate your site.
4. Content Strategy
When someone buys a new product, they do it for a reason: they believe it can improve their lives. While this is true in many cases, not every product we see on the internet magically enhances people’s lives.
The more complex a product is, the more difficult it is for the user to get the most out of it. Think about mobile devices: they have very high processing power, but most use them to take photos and send voice messages. Therefore, information about the practical use of technology can be a differentiator for any brand.
5. Word of Mouth Strategy
92% of consumers trust products recommended by their family and friends more, so a word-of-mouth marketing strategy can be your brand’s best ally. This strategy consists of giving the right stimuli for your audience to talk about your launch. Thus, you will be able to position a product or service, but you will also have the perfect opportunity to raise your brand recognition.
We know that a common belief is that even bad publicity is good publicity. That’s true because your brand will be in the conversation of a broad audience, but you can give the right resources so that the controversy is in your favor. Webinars, blog posts, videos, and other multimedia content may support this strategy.
6. Immersive Strategy
Faced with the enormous challenge of satisfying consumers in different ways, many brands have begun to implement immersive marketing strategies with which they seek to cause more significant impact and retention.
When we talk about immersion, we refer to any strategy or action that manages to transport the consumer to an experience. For example, if you want to create immersion in the flavour of a product, it is not enough to give a sample of the food or drink. It is vital that people can explore that flavour in all their senses, from the taste to the aroma, the touch, and even the sounds they hear while tasting the product.
7. Bid Strategy
There are various sales promotions, which are simple but very functional. The advantage of applying this strategy is to give your new product greater visibility, recognition, and sales momentum. Some of the promotions you can use for your product launch include:
Price: you can implement a special launch price that makes the client not want to miss out on the opportunity. As a new product, consumers may have reservations about buying it or not, but if they find it at a lower cost, they may feel more encouraged.
Gift: People love gifts. If your product is new in the market, but you complement it with another relevant one that can be useful to them, the client will not want to miss the opportunity to have both.
Demonstrations: this strategy is mainly used for product launch since it allows a preliminary visualization of the client with the product. This way, you can see their reaction and even get an opinion before starting the sale.
8. Mass Communication Strategy
You can combine digital advertising with traditional advertising such as television, radio, and the press to publicize your product if you have a higher budget. Before investing in these ads, ensure that your target audience consumes these communication channels.
Additionally, create paid ads on the social networks that your potential customers use the most and let social networks do their magic. You can complement this strategy by creating a landing page where those interested know everything about this new release; if possible, make it easy to make their purchase on that same site.
Remember that investments in traditional ads are usually costly. Avoid having unnecessary expenses and stick to what you know about your market to decide your best options.
9. Specialized Events Strategy
If a relevant fair or event in your industry is about to occur. And you consider that your new product could. Become a novelty, do not hesitate to take it. This is the case with conventions, exhibitions, or trade shows.
This type of coexistence opens many doors for potential clients to locate. And learn about your launch. And for you to find suppliers interested in marketing it (as long as this is your objective).
10. Influencer Strategy
80 % of marketers consider influencer marketing an effective channel to achieve results. Therefore, it can be an excellent option for your next product launch strategy. However, it would help if you considered asking for the support of people who have experience in your niche.
This is a requirement to reach a more significant number of potential. Users who might be interested in your product or service. In addition, having the validation and recommendation of an expert in your industry increases your level of leadership and reliability.
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