Launching Your New Product Like A Pro
A lot of entrepreneurs and would-be entrepreneurs share a common daydream; stumbling on that new product idea. We all want to launch that new product that takes the world by storm, and becomes the most talked about product in decades. While the product itself is certainly important, making sure it’s successful also hinges heavily on the way it’s launched. If you’re not exactly a marketing wizard, then figuring this out can be a real challenge. Here, we’ll go over some of our tips for launching a new product.
First of all, be sure to rub shoulders with the potential buyers at one or more big industry shows. After you’ve dealt with testing, patent services and other little technicalities, this is the first major step you need to be taking if you want to have a great launch. When you put a great product right in the hands of retailers, a lot of the following work will take of itself. These are the people who will be able to get your product into major outlets all over the country, acting as a catalyst for a lot of valuable word-of-mouth marketing. There are many different ways you can dangle your product in front of these buyers’ faces, but one of the most effective ways is setting it up at merchandising shows. Find an expo that suits the product you’re trying to push, and get yourself a slot!
Our next piece of advice is to weave something unusual into your marketing efforts. If you’re running a small business, then you may have an acute fear of shaking things up or moving away from the usual swing of things. However, if there’s one time when you should do something a little unconventional in your marketing, then it’s during the launch cycle of a new product. You might want to conduct and publish a survey which shows the need for your product. You could engineer a publicity stunt or commission a funny video. You may even want to take a leaf out of Ikea’s book and commission a street-art mural. There are countless quirky things you can use to mix up your marketing. Just make sure you do something.
Finally, make sure you’re prepared for a sales explosion. This might sound like a strange one. When a product takes off all you have to do is sit back and enjoy it, right? Well, not quite. After you’ve spent all that time creating a buzz around your product, you need to prepare to sell to your audience en masse. When the opportunity for big success crops up, you need to know how to seize it. I’m sure you don’t want to go the rest of your life knowing that such a huge opportunity slipped away! You need to ensure that you have the right team and the right resources to scale up production and keep up with demand.
Once your little gizmo appears on the shelves, being able to hit the ground running is essential. Happy Marketing!