Launching a new product is like bringing a baby into the world. Everyone’s happy but the parents are panicking. ( or something like that, lol)
But jokes apart, it is indeed tedious to reach out a new product in the market successfully.
So product launch is a great way to draw people’s attention to your product and give a marketing push to kickstart the momentum.
But you need to create buzz around your product before you set your product launch dates.
Here you need to be creative and out-of-the-box to attract people out too much going around on the internet.
Don’t worry, you got us!
Here are the best product launch ideas and strategies for your small business to successfully launch your product.
12 Steps To Launch Your Product
Before you get into implementing product launch ideas, it is essential to get an overview on the process of launching your product.
You must check all the boxes before you start your product launch campaign. Here are 12 necessary steps you should take in order to launch your product successfully.
1. Prioritising What Consumer Needs
One thing that is common in all the successful product launch is prioritizing what your consumer or user needs. That’s always the first step!
Your strategy always serves the end customer satisfying them the best way possible. One of the best ways to do so is to conduct a survey to understand the market.
You need to find the answer to – Why would someone buy your product?
People buy things only for following reasons :
- Resolve their issue or some problem
- Improve the quality of their life
- Fulfil their desire
So, look for how your product can resolve customer’s problems, improve the quality of life or fulfil someone’s desire. If any of those boxes check, you’re good to go.
Also figure out the true “value” of your product and whether it aligns with customer purchasing behaviours or not.
- Are people spending that much?
- Is your product worth that much?
- How much are they willing to pay for it?
And, other such questions must be answered before you begin.
Learn about your customer. You need to know their motivations, goals, problems and desires as well.
With basic questionnaires, polls and surveys, you can grasp a lot. You can talk to your customers as well. Ask specific questions.
2. Mark Your Competition
Market is all about competition. If someone opts your company to purchase from, it simply means he or she denies to buy from your competition.
It goes both ways. If they opt your competition, that means they rejected your offer. And must be for some reason. You need to know that reason to improve.
And that’s why it is essential to find your competition and mark them to keep checking on them.
Remember, You don’t need to be just good to make a purchase. You need to be BETTER than others.
So explore your competition, identify their strategies, products, customer assistance, tactics and challenges as well.
Their disadvantage can be your unique selling point or give people preference to buy from you over your competitors.
3. Craft A Positioning Statement
You need to write a brand position statement. Your positional statement must give clear and precise answers to these three questions
- Who is the product for?
- What does your product do?
- Why is it different from others out there?
Deeper you will go with the questions, and the more questions you ask to craft your positioning statement, the better it will be.
You can be even more specific by asking more questions like this :
- What is your target audience?
- What will be the name of your product or service?
- How is your product better than your competitors?
- How will you prove the worth or credibility of your product?
- What problems will your product resolve?
4. Make A Prototype Of Your Product & Test It
You cannot just green lit your product to go for mass production without any testing.
That can lead to many risks such as putting your brand reputation at stake, huge loss and product failure in public due to some defect.
So it is better to go for the beta testing phase of your product. You can make a prototype of your product and test it
Hire beta testers so they can test and give you feedback before it hits the market. Beta testers can also tell how you can resolve the issue or make it better.
5. Pitch Your Positioning Statement To Stakeholders
When you are done with your positional statement and testing your prototype, it means you are sure about your product as well as how to position it in the market.
Now, take the next step. And pitch the positional statement to the stakeholders in your company. You need to make sure that they and you all are on the same page.
If your partners, stakeholders or employees are not satisfied with the product, no chance your customer will be.
So it is essential to take everyone in confidence before you launch the product.
6. Reconfigure And Improve Your Product
In the testing phase of your product, you will gain a lot of feedback from the beta testers, family, friends, expert, colleague and stakeholders.
Also, there will alot of early testing customers who will review your product critically. Or actually anyone can give you the advice that might improve your product.
So you need to be more receptive to it, focusing more on how you can improve the quality of your product.
People might suggest something that you may not agree with. So it is essential to understand from a “customer” point of view.
7. Plan Your Marketing Strategy
After you have your product in the place, you need to decide how you are going to market it. You need to come up with a strategy to launch the product.
Some businesses utilize the funnel strategy, some use promotional events or influencers and also prefer the flywheel approach.
Irrespective of what strategy you use, it requires planning, resources, investment and skillset to initiate, execute and manage.
The process has too many moving parts and all need to be synchronized and work together in order to pull a success product launch.
8. Examine Profit Margins
One of the crucial steps in manufacturing and further launching a product for end users, is to calculate the profit margins.
Even the high sales doesn’t matter much, if you don’t have enough profit margins on your product.
So, you better run the numbers to determine on what performance level, you can expect certain profit from the business.
You need to understand the customer acquisition cost and revenue generation through products along with all cost goes into it. And by the end of it, what profit you are having.
You need to see whether your stakeholders or business partners can enjoy the benefits. Make sure everyone gets a piece of the pie.
Also, aim for a reasonable sale conversion which you can expect and see what it presents on the table.
9. Set A Specific Goal For Your Product Launch
Before you get into launching the product out in the market, it is critical that you set a specific goal for the success of your product launch.
It means you need to decide what goal you will achieve through this product launch that you can consider it a win or success.
It also helps you focus and give direction to your efforts to achieve the desired results.
The product launch can be about brand awareness or it can be to bring sales opportunities right there.
Both specific goals require different sets of efforts to make it successful and that’s why you need to set a goal for your product launch.
10. Using Pre-Marketing To Build Product Anticipation
Any successful product launch is only as good as the conviction of your marketing team into it.
One of the clever ways to make a product be well received right at the launch is to create anticipation for it amongst people.
You need to create a buzz about your product which is about to launch. And that can be done by aggressive but smart marketing.
Build anticipation in the market about your product so people will be looking forward to seeing the product.
This helps in driving more sales for a new product but more than it does wonders for brand awareness.
Few Tips For Pre-Marketing Your Product To Build Anticipation
- Create an attractive landing page demonstrating about your new product preferably using video or graphics.
- Start an email marketing campaign to encourage people sign-up for learning more about the product. Make sure you give them some lead magnet such as an early bird discount.
- Connect to bloggers, media persons and influencers to spread the word about your product. Preferably only a tease of your product at this time.
- Reach out to the PR people encouraging them to publish a press release talking about your product.
- Try to advertise on as many platforms you can but surely under your budget. Remember this is a pre-marketing.
11. Building Supply Chain, Delivery System & Other Logistics
There are some aspects of a product launch which might not seem as a front of it but you need to check all the boxes.
Make sure you have the inventory of the products that you are launching, so you have enough to meet the demand.
Building an efficient and easy-to-manage supply chain is great to ensure that. Create a close network of your business and establish a strong communication.
Work closely with your vendors and ensure the maximum number of units they can provide at one time.
You need to collaborate with people who can help you scale the production and meet the demand over supply always.
12. Create Promotional Content Across Platforms
Once you are set with your logistics and ready to supply the demands, it’s time to get back to the marketing and promotional aspect of your product launch.
You need to be proactive in creating promotional content putting it across the social media channels, media channels and actually everywhere possible.
This can also include influencers across the platforms, bloggers and other avenues.
But more than that, you need to create more content that helps carry your product further.
Product Launch Ideas For Your Small Business
Launching A Teaser Campaign For Your Product
The idea of a product launch is to gain attention from a certain target audience.
Product launch should be something that hooks people right away so they invest more in the anticipation of the product.
You can start a teaser campaign for your product that acts as a catalyst in overall marketing of your product.
Image Source: Pinterest
Social media platforms such as Facebook and Twitter are ideal to tease about your product to the world.
It creates a hype of your product building excitement within people so much that they wait for it to come.
So what you can do is create a social media teaser under your teaser campaign. It should start at least 20 or 30 days prior to your product launch date.
You need enough time in-between to create a buzz on social media. Remember, such buzz or anticipation builds slowly and then gets the hype, so 20-30 days time is minimum.
You can create graphics and videos to post regularly in this period of time.
Utilizing Influencer Marketing
Influencer marketing is known to be the most cost-effective and fastest growing marketing methods today.
Even larger enterprises realize how effective and profitable influencer marketing is as compared to spending fortune on TV ads.
Image Source: Business 2 Community
Influencers have credibility along with a huge online following. They are the ideal people to market your upcoming products.
Also, they are also capable of creating a hype amongst people regarding the product.
When your target audience sees the influencers they follow to be suggesting or talking about a product, they trust them and are more likely to buy.
The quality of audience, if not quantity is way superior than any form of marketing.
Image Source: Business 2 Community
Influencers also create an awareness about your product and brand towards the more informative side, rather than just pitching them blankly.
So it is important for you to collaborate with influencers where they have to review the product.
Reviews come across more on informative content that people want to see and rely on as well.
So, launching a product through influencer marketing campaigns is already a successful formula.
Creating Content That Highlights Your Product
With so many marketing strategies, techniques and gimmicks, you must remember the fact that content marketing still rules!
In fact, content marketing offers three times more leads as compared to other traditional marketing where it costs 62% less.
But whether you should create content or your product launch, that was never a question.
Image Source: Later
You should focus on what kind of content you need to make for your product launch.
Well, you better create content that highlights your product, not just features them at its best.
You can definitely create content in all different spectrums such as graphics, text, images, audio and video as well.
But it is important you focus on creating more video content as it is consumed more than any other form. Also it drives attention faster than others.
Launching Through Trade Shows
One of the excellent ways to reach an already established and highly relevant audience is through industry publications.
Industry publications have a huge audience that you can gain if you get featured yourself. And to do that, the easiest thing to do is attend trade shows.
Attending trade shows gives you maximum media coverage exposing you to a massive range of relevant audiences.
It can give your product launch a huge push, and the best part is, it will be on a credible side so people will be more inclined to check out your product or brand.
Your goal should be to get featured in the highest ranking online publications relevant to your industry or niche.
If you are launching a tech product, publications that cover tech news such as TechCrunch or WIRED will be the gamechanger.
Building A Story Around Your Product
Stories sell, brand doesn’t!
People connect to the story of a product rather than the product itself, especially and definitely not when it tries to sell itself too harshly.
Image Source: Instagram
A successful product launch can be the direct result of too much buzz about your product before it actually comes out.
If you can create an interesting story around your product, it can generate more buzz about your product and brand.
Stories tell how there was a serious problem with a guy just like you and your product resolve them making them happy at the end.
Walby Parker is an American online retailer selling prescription glasses and sunglasses. They connected their personal story into the product launch.
Image Source: Grin
They bring out this story of four guys who met at college where one of them lost their costly glasses on trip.
He wasted his first semester in complaining and all. And that is what brings them all together launching Warby Parker aiming to provide affordable eyewear.
Well, now suddenly this brand makes more sense, feels connected to you. It creates characters, events and personalities in your head making this brand more real.
So that’s it! That’s what a story does, gives people a perspective, make a brand relative to them ,make it more personal and believable.
So that’s it! That’s what a story does, gives people a perspective, make a brand relative to them ,make it more personal and believable.
Leverage The Crowdfunding Platforms
Crowdfunding might not be looking sensible here if you already have enough money to develop and launch your product in the market.
Well, that’s the strategy here! Irrespective of whether you have enough money for launching the product or not, you need to use a crowdfunding platform for marketing purposes.
A crowdfunding campaign can help you to create buzz about your product that is yet to launch.
The best part about this is, crowdfunding will not appear as you straightway marketing for your brand or upcoming product but actually raising money.
Image Source: Kickofflabs
If you do a crowdfunding campaign for your product launch, it will help you build a network of those people who aren’t just interested in your product but even spend their money in its development.
So that tells you how dedicated they are towards your product. They even can help you to promote your brand.
Since they invested in your brand, they are definitely going to share it with their friends, family and followers.
You don’t even need to ask them to do that. You just have to make sure that connection must build over time.
Make sure you engage with them consistently and do consider to reward them for their support as well.
The rewards in this case should be something appealing and useful for your brand advocates.
Image Source: TechCrunch
Example: One of the most popular and successful crowdfunding campaigns was from the brand Pebble Time Smartwatch. They raised more than $20 million from 78,000 backers at Kickstarter.
Make Your Launch Events Live On Facebook and Instagram
You have no reason to not leverage live video features on social media platforms, especially on Facebook and Instagram.
Brands are killing it with their live events where they talk about new products or live stream their product launch events to their consumers.
Image Source: Restream
Use live video streaming to showcase your product and demonstrate how it works and what it can do for people.
You can also do live meetings including your employees talking about the product and how it adds value to people’s lives.
The possibilities are endless if you come up with creative ideas for leveraging live features on Facebook and Instagram.
Image Source: Shopify
For Example : Dunkin’ Donuts connected with their fans on Valentine’s day on live stream showing their test kitchen and how they create new products.
That comes out to be amazing for the audience to get that insight and even better for the brand to launch their new set of products through it.
Create Engaging Videos
Video is definitely a superior content piece as compared to any other form as it has more potential to drive attention and offer more.
So why just restrict to images and text to hype up your product launch?
Videos are widely used by brands to tease the consumers about their upcoming product. The best you can do is create a short video on your upcoming product.
Image Source: NDTV Gadget 360
You can show some selective features of the product.
Even to begin with, you can just show some B-roll shots of the product but not exactly reveal anything except the logo at the very end of it.
Think how much curiosity it will generate?
You can even make very short videos about using that product in daily life but not revealing much about the specification or price.
Focus on the USP of your product and may begin with that.
For example, if a mobile company is launching a flagship phone but it is way cheaper. Then, they can build hype like “ cheapest flagship phone” or something.
Make Demonstration Videos On How To Use Your Product
The product launch becomes even more tricky when you are introducing something very new to the market.
Even something remotely different requires people to understand it.
If a consumer does not know how to use a product or doesn’t see its application clearly, it throws them off.
So the best way to introduce such product launches or can work with any new product launch is – create demonstration videos.
Demonstration videos or explainer videos tells how to use your product, how it can be helpful for customers and also potential it has.
Such videos are very informative as well as entertaining to watch. So make sure you make it like that.
The aim is to improve the customer’s experience of using your product.
Image Source: DroneDJ
People just want to use the product right away and they need to know what it does and how to really make most of it.
So, these videos make customers more confident about the product, so they are more inclined to buy it.
Write Guest Post To Promote Your New Product
One of the biggest challenges of promoting a newly-launched product or itself the product launch is lack of brand awareness.
Well, how and why people will care about your product if they never heard of you. However, that can be overcome if your product is interesting, valuable and relevant but mostly if it comes from a credible or authoritative source.
Also, how do you even reach them?
How do you get the attention of an audience who never heard of you?
Well, one of the best ways to do it is reach out to those target audiences through reputed and authoritative blogs and websites.
And that’s where guest posts can resolve your issue. Many websites, blogs and publications have established as well as massive audiences with targeted quality
Image Source: EasyWebcontent
You can write a relevant blog post or pitch an idea of a blog post to those websites or online publications depending upon the niches.
Once your guest post is published on their website, it benefits them as a valuable content from an expertise and experienced author.
And for you, that guest blog will contain some subtle information about your product clearly promoting it but not in too salesly way. You can even inset direct links to the product as well.
So it gives you a large audience exposing your brand and product to them for the first time.
And coming from a reputed publisher, people do give a though to the blog and the product as well.
Just make sure you don’t overboard in explaining your product. It should be even not like a marketing piece.
Focus on delivering value to your readers and then be subtle yet impressive with your product mentioned in the right relevance.
It is also a great way to generate backlinks for your website which further improve the domain authority. It will boost your ranking on the search engines further helping you reach more targeted audiences.
Take Pre-Orders From Customers
If you want to build a hype for your product launch, one of the most inexpensive ways to do that is start accepting pre-orders from early bird customers.
This idea might not strike you as a marketing tactic because your head is already in launching your product and looking forward to taking orders.
So this doesn’t come across as unique.
But it is an excellent marketing tactic. The emphasis here is “taking pre-orders”, not orders.
Image Source: Stripo
So in a way you are saying that you as a brand is providing a privilege to customers, more like an opportunity window to buy it easily.
Saying it “pre-order” you are already making a confident statement that your product might get sold before they get hands on it.
You are producing presumably scarcity of your own product before even selling one.
Image Source: Wishpond
In another context, you are making them wait till the launch date happens allowing them to change their minds in-between as well.
It just makes them curious and attracted, so it works. Pre-orders can actually make you tons of sales before you even launch your product.
Leveraging Social Media Platforms
If you want to create conversations around your upcoming product launch, social media platforms are the most effective way to amplify the buzz.
Social media channels are highly engaging platforms where not just for promotion or spreading brand awareness but also it can help you to build a community around your brand.
You just need to focus on two things primarily :
- Creating valuable, creative and promotional content
- Engage with people
More you do these two things on social media, you can really create an audience base for your brand which will be your potential customer as well.
Paid promotion or social media ad campaigns are great to push the envelope even more. It will help you create brand awareness much faster.
Tips for Brands on Social Media
Here are some tips to be a desirable brand on social media :
- Be consistent in content creation
- Engage with audience in comments and messages
- Utilize humor in your brand identity on social media
- Resolve customer issues
- Don’t hesitate to be creative and out-of-the-box.
- Use contests and giveaways to spread the word about your product.
- Do live streaming very often
Share Pre-Launch Videos
You can release pre-launch videos like behind-the-scenes videos to promote your product launch.
It works really great to stir up conversation about your upcoming product. People get excited to see a glimpse of what is coming.
Also, it creates anticipation for actual events coming up. Lots of popular brands do that for their upcoming events, newly launched products etc.
It is just like releasing a teaser before the feature film that is yet to come. Make sure it is entertaining and really teases people, also doesn’t give away a lot.
You can document your planning and other conversations with your team members and use it as pre-launch videos.
Live-stream videos can be used for this as well. There are actually no boundaries or rules.
You can be creative and think of something unique as well as engaging content to publish.
It fuels up the curiosity of people and builds the hype for the product launch as well.
Create A Social Media Account Only For Your Product
Your brand must have been already out there selling various products so far. And this is a new product where you want to do even more.
The best way to escalate your product launch apart from your existing products and business operations is to create a social media account dedicated to your new product.
One of the best options to create a separate account is on Instagram, however, it depends upon what kind of product you are launching.
Image Source: Sellfy
If it is related to lifestyle, beauty, photography or something that might resonate much on Instagram, then a dedicated Instagram account on your product name will be great.
If it is a new course or program, a Facebook business page or group can be a great option.
Seperate account will help you focus on completely this particular product, so all your content will be around it only.
The direct link to buy the product will be always in the bio section of Instagram.
This will also help when you have a different or very unique product to market it differently as compared to your other products.
Target All The Major Media Outlets
The amount of content or information that an average person consumes per daily can be only limited. So, clearly there is a competition to grab people’s attention.
In order to really reach out massively amongst the large number of people, you need to target all the major media outlets.
Image Source: Kaspersky
Follow the right strategy along and you will land one or two major media organizations by your side.
Make sure you pitch yourself as an expert in the particular niche or industry. Thumb rule to sell something in the room is to offer what they want.
So make sure you research to find out what story segments producers want to publish or air. They are always looking for experts, so just make sure to be at the right place.
Create your pitch interesting and engaging along with a sensational hook. Also, add some actionable advice as well.
Promoting Giveaways With Help Of Influencers
One of the most assured ways to build anticipation and buzz about your product is giveaways. The idea really never fails as people love giveaways and keen to participate in it.
Giveaways help you to get a small part of your target audience as you offer some free samples of your product.
So they mostly do reviews about the product and share their opinion convincing people to make purchases.
Image Source: Easypromos
But giveaways on its own become difficult to cut through the pile of content on the web, so it often fails to broaden its reach and make it to the target audience.
So what you need is to promote your giveaways towards your target audience. The best way to do that is through influencers.
If you collaborate with the right influencers, they will introduce your new product to the relevant and potential customers.
These will be more active customers, more likely to buy from you as compared to others. Influencer marketing generates great ROI and high-quality leads.
Tell People How Your Product Get Made
People always fall for behind-the-scenes and making-of content as it is really entertaining, interesting as well as informative to see how anything gets made.
It’s a great way to preheat the market in terms of generating interest in your product.
To begin with, these kinds of content are easily made because it is more of a documentation. However, make sure you provide excellent production quality.
Image Source: Startupscene
Also, behind-the-scenes or stories about your product getting made tells about your brand personality and identity.
It also gives your brand a more humane side as you reveal your struggles, motivations and challenges in the way to get there.
Create videos about :
- The inception of the idea to actually get into making
- About your team,how you met and collaborated
- Behind-the-scenes of production
- Footages of meeting rooms and conversations
And much more you can add depending. Just make sure you think of this before everything starts so you can document most of it.