Product launches can be tricky affairs. In the excitement of having a new product on the market, its easy to miss certain critical steps which would ultimately make that product successful. Below are some tips to observe when launching new products.
Ask your top customers to test it – It is important to identify the mavens, the trend setters, the leaders or the most respected on your list of customers and ask them to kick the proverbial tires and provide honest feedback. By incorporating the input from this group, you not only make your product better but you acknowledge their expertise in the industry.
Work on some publicity – Any time a company with an existing product improves it and creates a new version, its something the trade press and bloggers will pick up, so public relations is your first step.
Develop a marketing and advertising plan – It’s a documented fact that creative, well branded and distinctive advertising and marketing plan generates the best results.The message in this plan should be about appealing to the target audience and aim at informing, persuading and reminding the audience.
Sell to existing customers first – Let them know about your new model and explain why they may want to upgrade. Depending on the product, you can offer a promotion to upgrade from old to new as appreciation for their loyalty.
Ask early users for reviews – Your prospects who may not initially realise why they need this product will pay attention when someone they recognise or is similar to them directly and clearly explains how the product benefited them.
Look for the next thing – Opportunities for new products exist all around us, in every market, even mature markets.This is because what is possible is always changing. New technologies are also constantly emerging.You need to quickly evaluate opportunities to decide which ones are promising, which ones should be pursued and which ones should be left for others.