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Given that 90% of product launches fail, it goes without saying that there is an art to developing a new product launch strategy. At The LaunchPad Agency, sometimes clients come to us after they have made mistakes with their product launches to help get their campaigns back on the right path. As a top-rated product marketing agency, our team develops a product launch strategy specifically designed around our client’s needs. Here are some of our tried and true do’s and don’ts of product launch marketing.
First thing’s first — you must develop your new product launch with a focus on customers’ needs and not just on marketing a new product. Your mindset for a new product launch should be set on how your customers can best benefit from what you are offering and that you are the solution to their problem.
Although it’s good to see what the competition is doing, you need to make sure you distinguish yourself from them. Make sure you highlight what makes your brand unique and better than the competition even if you don’t mention them.
Building on whatever success you’ve had in the past is a great place to start. What has your audience responded best to in your past marketing efforts? What ads and social media posts have worked the best? Look at the analytics and move forward from there.
It is a common misconception that the initial buzz and PR will take a product to success and beyond. In reality, your post-launch product marketing is just as important if not more important than your pre-launch phase. It is crucial that you keep the momentum going and focus on driving the buzz for your product with a content marketing strategy and brand awareness.
The greatest way to spread the word about your latest product during all phases of product launches is with an abundance of content. Get creative! In addition to social media posting and ads, also consider blogging, social media groups, and influencer marketing. Each method has one common goal: to highlight your brand’s story and your product while driving traffic to your site with compelling content.
Your company’s story is the most important part of your brand. Make sure you have a dedicated person managing your social media platforms who understands how analytics work and knows how to create engaging content.
The power of video has been proven time and time again. The majority of consumers would much prefer to watch a video about a product than read about it. Video provides the opportunity to showcase how products work, the process of a specific service, or even discuss the brand’s identity. Video content is also very sharable on social media when done right.
Building your email list as part of your new product launch strategy can help you grow your business and connect with your customers on a personal level. Not only is it a great way to stay in touch with a community of people who are interested in your product, but you can also drive traffic to sales, your blog, or any other campaign activities.
With the majority of people visiting social media platforms at least once a day, social media provides the optimal place to promote your product. Get people engaged, let them ask questions, offer deals, and build your email lists. Social media marketing is one of the most essential ingredients of new product marketing today.
New product launch strategies often fail, but yours can succeed! Your launch is one of the most important parts of your journey.
Like what you’re reading? Check out 90% of New Product Launches Fail. Learn These Tricks to Catapult you to Success.