Learn the Keys to Marketing That Will Make Your Product Blast Off!
When it comes time to start advertising a new product, you don’t just want it to take a tiny hop. You want it to blast off! This isn’t always an obvious process when you’re a small business and you’re up against enormous multinational corporations with marketing budgets that are worth several times the entire value of your company.
That said, it doesn’t mean that you need to give up. There are many things that you can do to ensure the success of the launch of your new product. While this kind of highly successful does take some work and effort, it is well worth it when you are bringing in tremendous successes right from the start.
Right from the point that you have identified what your product actually is, you need to consider its advertising. This will give you a thorough understanding of what your business truly has to offer, who your market is, and how you should be communicating with them.
This means that even while your new product is in development and testing, your marketing strategy should already be in the works. After all, the entire purpose of creating the product is to generate sales, so the last thing you want to do is produce a truly fantastic product that has the potential to change the world, but then be forced to watch it collect dust on your shelves because you didn’t know how to tell anyone about it.
Now is the time to begin your countdown to launch. 3-2-1 Blastoff!
1…Your Market Research (Yes, it has to be done)
Very few people get excited about the idea of having to do market research, and lots of it, when they want to start advertising a new product. After all, the excitement is about the product itself and the sales that it will generate, not demographic and market data.
If you want your launch to be a genuine blastoff, then you’re going to need to get the whining out of your system, and then plunge ahead at full throttle. Remember that the potential of your product is only as good as the number of people in your market who actually know about it.
Start your market research by coming up with a list of competing companies that offer a similar kind of product or service to what you will be selling. Even if you feel that your product is the only one of its kind on the market, have a look at businesses that sell products geared toward solving similar problems. Find out what market they are targeting and bring that into consideration.
Place more weight on companies that appear to be successful. After all, you want to learn from successes, not failures!
Next, consider what your customers will actually want from your product. What problem do they have and how will your product solve it. Don’t think of your product in terms of features, define it in terms of benefits! What’s in it for them?
Now, find out who “they” are. Now that you know what problem is solved by your product, think about who the people are who will have this problem and will be both interested in your product and will have the money to afford it.
2…Your Product Design (They will judge a book by its cover)
Once you have developed and designed your brand new product, don’t forget to focus in on your target market. This doesn’t just mean finding the individuals who are most likely to buy – you did that in the last step! Now you need to consider the people who will not only buy but will benefit the most from what your product can do. This will be your niche.
Now that you know who they are, show them how your product is different from anything else on the market. How are your benefits superior to other products that may appear very similar? When you design your product, don’t just give it features – give it better features! That way, when you’re advertising a new product, it’s easy to talk about its enhanced benefits over the rest of the marketplace.
3…Blastoff! (Let the marketing begin)
You’ve researched your market, you’ve designed your product, and now it’s time to come up with a marketing plan that will launch your new product like a rocket into space. You already have all of the information that you need to develop your plan, the trick now is to decide what techniques you will be using.
Most small businesses will greatly benefit from internet marketing, especially through social media websites, since they allow you to reach a large number of people, but at a fraction of the cost of print media, television, radio, and other traditional formats.
That said, you shouldn’t rule out other forms just because you’re marketing online. Choose your methods wisely and carefully incorporate all of your research and understanding of your market into your efforts. Don’t forget to test the success of your efforts and then continue tweaking and testing continually improve your results.
Once you finally reach launch time, you’ll be all set to take on the world of people who will be interested in learning more about your new product, and will be ready to buy it to enjoy its benefits and solve their problems.
More on Marketing