The best ways to promote a new product or service
Coming up with an amazing new product or service for your business is tough, but it’s only half the battle. Launching and promoting it makes up the other half, and no matter how great your product or service, if your marketing isn’t up to scratch you simply won’t make sales. Launching an entirely new product on to the market is challenging – you need a strategy, a way to let potential customers know what it is, what it does, and why they need it. Not only that, but the campaign must look and sound fantastic. The perfect combination of these factors, and you’re on to a winner. Here are a few ideas.
Why is product promotion so important?
You may have the perfect product or service, but without an effective promotional campaign no one will hear about it, and therefore no one will purchase it. Often, when there are similar products on the market, people will buy the one with a superior campaign, despite potential inferior quality or higher cost. A promotion campaign will also allow you to gain valuable insights about your customer base, providing crucial data for further products or services.
Introductory offer
A great way to introduce your product or service is with an introductory offer. This could come in the form of a bundle deal with existing products, loyalty program points, two-for-one offers, vouchers or free gifts with purchases, or simply discounted pricing. In your promotional information you should stress that it is a limited time offer, adding a sense of urgency which could drive sales.
Social media
By far the most widely-used tool today, social media has started a revolution in how companies market their products and communicate with their customers. Creating content for social media, such as videos on Instagram, Facebook, Snapchat or YouTube is a powerful way to display your new product or service. Encouraging shares and likes by incorporating your introductory offer (enter a prize draw for freebies etc) broadens your reach and encourages customer engagement. You can also communicate directly with customers, in a personal and informal way, deepening customer loyalty.
While digital platforms are far and away the most popular marketing channels, it’s worth noting that there is still a place in any good campaign for printed materials. Leaflets or brochures which outline your product or service can be printed at a low cost without sacrificing quality, and a mailout campaign can be highly successful – the relative lack of post we receive now means that messages are more likely to be picked up and read. Mobile signs printed on cars also constitute printed materials – these are a great way to get your message out and about in your local area. Don’t forget compliment slips and thank-you cards for those who purchase.
Blog posts
If you don’t have a dedicated landing page for your new product or service, a blog post (or a series of them) can be an excellent way to get your message out, with broad strokes and small details. An entertaining and informative post gives you the chance to tell your story, flesh out the aims, benefits, and other factors related to your product or service. Creating an effective blog post requires some know-how as to people’s reading habits online – what will grab their attention, which parts they’re likely to read or skip, etc. Another way to use blogs is to pay for affiliate links – other blog posts about related topics, with a link to your landing page (if you have one) inserted in a relevant place.
Events
What better way to show off your new product than a face-to-face demonstration? It’s been shown that meeting your customer base in person creates a strong bond with your brand, and helps to push sales in your local area. An event doesn’t just have to be a meet-and-greet – you can organise a fun competition, or get involved in some local issues – tried and tested ideas include making or repairing a garden or playground, organising a treasure hunt, etc. If you don’t want to organise your own event, you could sponsor something else, such as a marathon, a funfair or similar – just don’t forget to give details about your brand, and your product or service.
Promotion is a major part of driving sales. Without it, even the best idea for a product or service can fall flat.
