Abasiakan DennyMarketing a new product requires a combination of steps and strategies to achieve an optimal outcome. Due to the presence of competitors in the market, you must have a good grasp of the marketing techniques to have a promising entrance. Creatively introducing your new products not only captures attention but generates sales and builds a robust customer base. Here are five creative ways to market a new product. Examples are included to make it relatable.
Social media is an invaluable tool for introducing a new product. Mind you, this is the first time potential customers will see the products, that’s why you need more engagements. Social media provides just that opportunity to get your product to many people. There are key strategies to use social media to market your new products.
- Create unique hashtags and encourage customers to share their experiences using the products. This allows you to get reviews on your products and also generates traffic around your product. As more people use the hashtag, your products get sufficient visibility to attract potential customers.
- Organise contests and giveaways where participants can perform a simple task and get awarded with your product. The excitement and optimism of winning will encourage more people to join the challenge. The buzz generated around the product will increase engagement, attracting customers who can buy it.. For example, a membership-commerce activewear brand organised a contest, where customers wear their products and post for gift card rewards or other rewards.
- Partner with Influencers related to your product niche. Fabletics partner with celebrities like Kate Hudson and Ken Jeong to promote their products. You may not have enough leads to market your products when starting. You may have to pay a certain percentage from sales of your product. Since they have more leads, your products reach customers who can purchase and make recommendations.
Create Engaging Video Content.
Video content is highly recommended because it captures potential customers’ attention. Create engaging video content that shows how your products work. You can achieve this by comparing users of your products with those who don’t. The video shouldn’t be boring, but should be entertaining. However, the primary goal is not to entertain but to drive sales. Therefore, focus on promoting the product instead of entertainment.
You can also showcase the behind-the-scenes making of your products. This demonstrates the uniqueness of production and expertise to convince potential customers of its impacts.
Apple, for instance, showcases the technology and innovation behind a new product. This captures customer attention, encouraging them to make a purchase. This strategy is meant to bring conviction about your product.
Implement Referral Programs
Offer incentives to customers who refer friends to purchase your products. This encourages existing and potential customers to “sell the products” and try out your products respectively. In some instances, both the referrer and the referee get rewarded.
This was the strategy used by Dropbox. The referrer and the referee were both given extra storage space. You will be able to maintain your existing customers. Also, offer special discounts and rewards for repeated purchases or multiple referrals.
A common saying goes that “no one leaves what is working.” Happy customers most often make recommendations to others. Therefore, as you seek for potential customers, maintain existing customers and reward them.
Host Interactive Events and Launches
Invite loyal customers for virtual or in-person interactive events. You can achieve this through creation of product demos, live webinars, Q&A sessions, etc. This can serve as a good opportunity to preview your products.
You can also host a launch event to introduce your products. Creating an event with a countdown can sufficiently create a buzz around the product. Live stream these events and launches, and encourage engagement by offering gifts or product rewards to the best performing participants. Leverage technology innovations like AR or VR to give customers a simulation of how your products work. For instance, the Tesla Model 3 launch featured a live-streamed event.
Utilise Guerilla Marketing
Consider guerilla marketing because of its efficiency for launching new products. This marketing strategy is innovative and unconventional. It aims to evoke a strong emotional connection with your product.
High-impact is achieved with low costs as it engages the audience and allows them to test the product. This marketing method is meant to surprise your audience and inform them about the arrival of a new product, usually carried out in public places.
Consider setting up eye-catching infographics about your products at strategic locations. Consider setting up immersive opportunities for the audience to have firsthand testing of the products.
For example, Milo organised a free tea drink with customized foil cups in schools and streets. This approach evokes a strong emotional connection with your product and encourages patronage of the same.
Marketing a new product requires an integral set of strategies to implement to get your products before potential customers who are willing and able to purchase them. The presence of existing alternatives or competitors will require you to get it right. Leveraging social media, creating video contents, reward-centred referral programs, hosting interactive launches, and guerilla marketing are key strategies to market your new products.
