However, for a product to be successful at its launch, we must take into account the ideal moment to offer something to the right people. And that is what we will address in this article. We will give you some essential tips how to launch a product and also the main marketing techniques you should use to do so.
Answer the following questions: who is the product or service for? How will he help people and what will the solution look like? This will serve as your north for launch.
Another point to take into account is the elaboration of a planning process, which will avoid expenses and loss of time, money and credibility in the face of competition as strong as the one that exists today.
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1. Create your buyer persona
Planning is useless if you do not have clear objectives. Consider who your customers are and how your product will affect them.
Don’t know how to do it? The creation of buyer personas can help you in the task. Research the habits, preferences and interests of your audience. What are they looking for? Knowing this type of information will help you in the launch of the new product, and will allow you to know exactly who you should target your product for.
2. Create a launch plan
This plan is essential to guide you in the correct promotion of your product. It must contain data such as the main characteristics of your product, the price, the target audience, where it will be sold, what type of advertising you will use for dissemination and the sales you estimate to make with it.
3. Define the objectives and the strategy
It is from the objectives that you will be able to launch your strategy and define your positioning. Your goals determine how you will deliver value to consumers.
With a defined positioning, you will be ready to apply the strategy and practical aspects of the product. Questions come in here such as how they will know your product, how your communication will be, your promotion, etc.
4. Determine your budget
It is essential to understand what you can do within the budget determined in your strategy for the impact of the product on the business. Always take into account how much you will have to spend in each process, how much you expect to sell, the payments of extra fees and employees, your possible profit margin and if what you expect is scalable. If you can measure it, do it!
5. Think about the product sales cycle
With the product defined and your strategy and positioning determined, it is time to closely monitor evolution and development. Pay attention to every detail, so you don’t miss anything. Check if you need to update or modify any process, because if the market changes, you must be prepared to review the strategy.
6. Use effective communication in your favor
Invest in communication strategies capable of generating interest in your product. Email marketing, for example, is an excellent channel to communicate with your customer and potential base. Describe the advantages and characteristics of the product, how to use it, the launch date, where this product will be marketed, whether in physical stores, in your e-commerce or other places.
Do not forget to inform the payment methods. Offer a discount for the first ones who show interest in purchasing your pre-sale product. Promote it on social networks to increase your reach and give visibility to your brand.
If you can, invest in advertising campaigns, online or offline, they will help you gain notoriety in the market. Ask for testimonials from your customers who already know your brand or product, that is also a simple way to grow your authority and gain the trust of future customers.
7. Invest in benchmarking
Have you already analyzed how you behave against your competitors? It is basically about comparing your products, services and management practices with other companies in your same segment.
We call this process benchmarking. If you don’t know the term, enter here to learn all about it and how it can make a difference in your business.
8. Guarantee the consumption of your product
The launch alone does not have the power to guarantee the longevity of your product in the market. People need to be convinced to continue consuming, and of course that is not an easy task. In truth, this is the great challenge for entrepreneurs: not to get lost in the midst of so much information and great competition.
Turning an idea into a business is challenging and that is why we are here producing content that helps you achieve success. Invest in a digital marketing strategy: have a blog to generate traffic, produce evergreen content, be present on social networks and interact with your audience. Do your best, focus on value and stay up-to-date with changes in your segment.
With all this information, we are confident that success is possible. You already know how to launch a product in an attractive way to your potential customers. Remember that a previous analysis is never too much. Present a survey to your customers and see what the consumer has to tell you, based on it, put your product on the market.
From the initial idea to the entire development process and arrival on the market, always keep in mind to deliver value for your client, differentiating yourself from others is a prerequisite!
And now that you are ready to plan and launch your product, increase your knowledge even more with our ebook on Digital Marketing, download it here.