When marketing a product, the initial launch is the most important aspect of the product life cycle. A successful launch could be the difference between a profitable or unprofitable business, so you must do what you can to make your product launch as successful as possible. There are tactics you can use to garner public attention during the early days of your launch that will ensure that your product remains desirable further down the line. We’ll look at those tactics and how you can incorporate them into your business.
Pre-Launch Giveaway
One of the most popular ways to create excitement around your product before it’s launched is to run a giveaway or contest. Everyone loves getting something for free. Giving away a small number of products for free or at a heavy discount will create a lot of buzz around your business, making it a desirable product before it has even launched. The easiest way to run these giveaways is to use social media, where contestants can interact with your account to be entered into the contest. This approach has the added bonus of boosting your social media interactions, helping to spread the word about your product, and improving your social media marketing.
Referral Programme
Another way to increase your product’s reach is by setting up a referral program, where users are rewarded for bringing in other users. People naturally talk to their friends about what they’re interested in, so by rewarding them, you can be sure that people will spread the word about your business in no time. You don’t have to offer much; people often engage with these referral programs, even if the total value is only a few pounds. Creating programs like these allows you to get user-to-user marketing for a substantially lower fee than any professional marketing company.
Influencers
Social media has become a significant force in the world of advertising. The world has gone beyond traditional ads displayed on an app and moved into endorsement marketing through social media influencers. Influencers have a closer relationship with their audience than most celebrities, making their recommendations seem more sincere. This connection makes users more likely to buy your product based on their recommendations. Depending on the follower size of your chosen influencer, you can often reach a more targeted audience for a fraction of the cost of conventional marketing, making it a more efficient choice to help grow your business.
Scratch and win campaign
Scratch card marketing is essentially the same as coupon marketing, where you give users a discount or free trial but with added interactivity. As the users scratch the card to reveal what they’ve won, they feel an extra investment versus just being sent a coupon for your product. This marketing campaign will often see higher engagement rates than traditional coupon marketing, so it’s worth the investment if you want to help your business grow. Plus, scratch cards are fun to play, whether a traditional scratch card you’d buy from a shop or online scratch cards that allow you to enjoy the same fun in a virtual environment.
Conclusion
Launching a new product is daunting, as you never know how successful it will be until you take it to market. However, certain tactics you can use will help the odds come out in your favor. Whether offering a giveaway to draw attention to your product or paying social media influencers to advertise it to their followers, there are plenty of options for business owners looking to launch a product. Ensure you follow those helpful tips to give yourself the best chance of successfully launching your product.