Social Marketing Mama by Nic Soto / @MamaPR

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Saturday, March 20, 2010

How To Launch A New Product The Right Way

Every year it seems as though thousands of new and improved products are launched across the U.S. The vast majority of those products go virtually unnoticed by the public, which ultimately results in less sales revenue for business and manufactures and usually limited options for consumers. So what can you do to ensure that your new product gets noticed by the right market?

A product launch that is successful typically requires a solid marketing plan that includes various marketing material for retailers, press releases, email marketing, and a strategic trade show marketing. When these key components combined, your product launch can quickly gain attention and generate sales revenue for your company.

Before implementing a marketing strategy to launch your product(s), you will need to make sure that your product is completely finished and ready to be purchased by the general public (please note that “finished” doesn't mean “perfect”, as no product launch will ever be perfect). Your prototype should be completely functional, and the development, and design process, should be completed. Creating a marketing strategy for a completed product is far more easier than creating a marketing strategy for a product that is not yet ready to come out.

The first key step toward launching a new product is to create marketing materials for retailers who will carry it in their establishments or online. Take quality photos of your product from every angle to show off its details. Make sure you have a good number of photos of your product in use, as this will instill confidence in your potential customers. Choose a good name for your product that is unique and memorable, and write a number of short descriptions that could be used in marketing materials such as brochures or fliers. Design a unique packaging, making sure to keep it consistent with the other products your business offers. The more work you put for your retailers, the more likely they'll be to sell your product.

Once all the marketing materials have been created, it is now time to announce the arrival of your products. Writing a press release is certainly a great way to get your products or message in front of thousands. Your press release should mot be worded as hard sales-copy. Be sure to mention your product name in the title of your press release, and link your press release to your product or your company website. Make sure it features your product before linking it.

You can also use direct emailing to getting you product in front of your target market. If you already have an email list of your own with important figures in your industry, you have a great advantage. If not, you can usually find contact emails by looking through website's of a current industry trade shows. Your email marketing should quickly and concisely educate your recipients on your new products, specifically focusing on what makes it different, or better, than other products that are on the market.

The final step in launching your product is to show it off at an industry event. Getting your product in front of your target market in person is a marvelous way to convince them that you offer a sound quality product at a fair price. You'll need to reserve a booth at these trade shows and do not forget to fully review the guidelines and cost involved. You may also need accessories at these trade shows, such as lights or flooring for your booth to help highlight your products and set yourself apart from other attendees. Make sure that you are enhancing the product and not overshadowing it with the wrong lighting placement.

Once you have had a successful product launch, your work does not stop there. You'll need to continue to hone and refine your marketing strategies, and you will see you jard work, time and investments paying off.

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