Survey done by a US-based research company AcuPoll shows that about 95% of all product launches in the country fail. One of the main reasons to blame is poor methods adopted by at product launch stage.
Since consumers today get information from different sources, a successful product launches needs multiple marketing channels. Here are tips on how to approach product launches:
1. Traditional Media
In the US, about 93% of all homes own a T.V set. Though expensive, advertising on T.V enables your product to become an instant hit by giving it both visual and audio appeal.
Most people listen to the radio when they are away from the home and therefore they are less likely to be distracted. Of course, radio is much cheaper that T.V.
Other kinds of traditional media that you would want to explore are Newspapers and magazines.
It is considered a sin in the modern world to try to launch a product without a website. A website offers a place for your new product to “call home”.
After getting bits of information from all the other sources, a website provides a platform for people to get more information at their own time.
3. Social Media
Facebook, Twitter and YouTube offer a great way to create buzz about your product. The messages posted on the different networks should be creatively designed for each network.
Remember it is not enough to post updates on social media; you need to follow up by commenting on what people are saying.
4. Email Blasts
E-mail blasts work because you already have a relationship with the people on your mailing list.
It offers an opportunity to give sneak previews, pre orders and special discount to this group of people.
5. Conferences/ Meeting
In press conferences, the journalists will get to report and give publicity to your product for free. Apple Inc has repeatedly used this method to launch its iPhones to much success.
You can also launch your product in meetings. For small businesses, church and neighborhood meetings offer a perfect platform for launching your products.
6. Guerrilla Marketing
Guerilla marketing depends less on a large budget; it depends more on your time and energy.
Guerrilla marketing can be as simple as having different people dress as your product in the neighborhood.
7. Free Samples
People love free things. After getting free things, they feel obliged to tell their friends to the new product in an attempt to pay you back.
8. Better Packaging
Consumers do not get interested in a product only because of its content but also the packaging. Packaging can increase interest in the product and create a buzz.
9. Partnering With Reputable Retail Shops
New product often suffers from lack of credibility. By partnering with reputable retail shops- both offline and online- you get to associate the product with an already reputable brand.
It also places your product among people who are one step way from buying.
Like websites, blogs provide a platform for people to get more information about your product.