Tips For a Successful Product Launch

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Tips For a Successful Product Launch
1. Define Your Target Audience and Know How to
Reach Them
Before your product launches, you need to
ensure that you are more than familiar
with who it is to be released to. You
obviously have a good knowledge about your
customers, you have just created a product
around their best interests. However
multiple various demographics are needed to
be taken into consideration. This will
increase the likeness that your advertisement
content will reach those who you think
will be most enticed by it. Concentrate
on accurately defining your target market
such as gender, age and occupation.
After generically investigation of your
customers characteristics, a more
specific investigation of your main consumer
base should be undertaken. This will ensure
that your products are tailor-made
to your customers needs. Using
these specific demographics to narrow
the focus of your audience will give
you an edge over competitor brands.
It will also genuinely strike a chord with who
you want to sell to. You will need to ensure
that you have narrowed your demographics as
much as possible. You want the right
person viewing on your various ads and
consuming your content, such as university
students who like to travel or company managers
who enjoy sport.
2. Focus on Whos Buying it More Than it Itself
Once you have made your target audience as
specific as possible, then you will have
good idea of how to persuade them towards
purchasing from you. Whenever you create any
advertising element, always ensure that its
pinpoint to what the consumer is looking for.
Although it is the actual product itself
you are trying to promote, make sure that
your content describes why the customer
should purchase your product/service rather
than describing the product itself.
Furthermore, make sure you release a
product your customers will want to show off,
which will generate free publicity.
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An example of a well-suited advertising
strategy would be using different social
media platforms to target specific groups
of people. Instagram for example is
far more effective for targeting the
younger generations as it is most
informal social media format. Vice versa
applies with Twitter s formality appealing
to older generations and business minded
social media accounts.
3. Know Your Competition and Be Different (One of
a kind)
Intensely research your competitors, the
companies who are providing a similar
product or service to you. This will give
you the fullest knowledge about the structure
of your chosen marketplace, allowing you
to negotiate it easier. Identify at
least one commonality that links all of these
businesses.
After identifying such a feature, dont try
and avoid using it completely unless you
can afford to. Instead try and come up
with your own unique take on it.
Instead of following the market trends, look
to what makes you different. Thisll make
consumers notice you easier as you aim to be a
one of a kind, trend setting business.
Dominos are a good example of the benefits
of finding a unique take on an existing
market. Their food ordering system became
one of a kind, allowing consumers to order
through social media and text message. They
also implemented a tracking system that
shows a consumers order go live through the
various stages of production. These unique
features have made Dominos stand out from
competitors, making them more appealing to
consumers worldwide.
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4. Sign Influential Celebrities On-Board
There are so many bloggers, celebrities and
market experts who almost dictate the
popularity share of a market. They do this
through either endorsing, wearing, using or
even just writing about your
product/service. Even by simply completing
one of these actions, the amount of coverage
your products/service will receive can be
unbelievable.
For example, many clothing brands use
famous celebrities to wear their products
where they will be seen. Calvin
Klein successfully did this through
Justin Biebers endorsement of the
mycalvins campaign. After just 48 hours,
the mycalvins hashtag generated 1.6 million
Twitter mentions. Overall Calvin Klein gained
over 3.6 million followers across its social
media accounts.
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Obviously not all businesses can afford
the endorsement of an A List celebrity
like Bieber. Yet this example shows just
influential the famous can be, so it is
definitely something worth businesses dabbling in.
5. Offer Early Use Incentives and Take Pre-Orders
You want to make people interested or even
active in purchasing your product before its
even launched. One of the best ways to do
this is to offer free trials or discounts
for pre orders. This will attract consumers
attention as they feel that they will be
getting a too good to miss deal just
by purchasing your product either before
or just after it is launched. By having
this source of sales already lined up,
you are almost guaranteeing your products
future success.
6. Turn Your Product Launch into an Event
Even though it may seem extravagant, having
a well-publicised product launch with a
live audience emphasises your products
importance. By organising such a spectacle, you
are creating an instant sales and awareness boost.
An effective platform to gain live viewers
for your product launch is social media
live streams. Over 360 million users watch
Facebook Live regularly, 200million for
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Instagram. This demonstrates the immense
viewing potential for a product launch that
is streamed on these platforms.
7. Get All Relevant Employees on the Same
Wavelength
The entire company should be unified
in terms of how to go around
selling your product or service. By keeping all
publicising and marketing activities consistent
across all of your business, youre
strengthening not just your products image, but
the image of your company as a whole.
An effective exercise to ensure all your
relevant employees are on the same wavelength
is to write a mock press release. Marcus
Andrews of HubSpot suggests to do this very
early on in the product s life to ensure
that everyone involved in the launch is
aligned on the messaging. Furthermore,
employees will be enticed into coming up
with their own take on the press release,
encouraging active involvement.
8. Keep Testing It and Start Planning the Next
Version
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Your products perfection process is
never ever complete. Constantly
test the effectiveness of your product and
when it seems to be on the decline
implement some change, or a whole new product to
reengage consumers.
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