Effective Ways to Promote a New Product

Promoting a new product or a service can be a daunting challenge for all organizations. But it is something that shouldn’t be ignored. If you don’t market a product, especially a new one, it won’t be able to gain much traction.

Once your business’s product is up and running, it’s time to start draw traffic to your business and close sales. Whether you’re trying to make the first sale of your product, or have been open to business for a while, finding more opportunities to promote your service is always positive.

Unique Ways to Promote your New Product

Relying on traditional product marketing methods such as direct mail and print promotions is a thing of the past. In this technological era, success belongs today to those who identify the most powerful mixture of media, including digital and web. Whether you’re a budding start-up or an established company, check out our top tips to help you get on the right track to market your new product or service.

Exclusive Preview for Existing Loyal Customers

Offering an exclusive preview to consumers is a vital part of selling a product, as they are most likely the first to purchase it. Design an exclusive preview of the new product to clients for better product marketing. This can include an online demo, a private or public preview, a hands-on demo, or a special invitation to check your new product or service. 

Such exclusive deals will make loyal customers feel good and keep them coming again. Doing so will bring more traction to your product as your existing customers will put word-of-mouth promoting in motion. 

Introductory Offer Program on New Product

One of the smartest ways to bring new customers is by offering something free or at a discount. Depending on the business model, taking a loss on this to pull in market share may even be a great idea to boost your promotional strategy. 

Examples for introductory offer programs include push leads, sales, referrals, etc. Recently many ecommerce stores are having tremendous success with introductory discounts. These offers will attract both new customers and the existing ones to keep buying from you. 

Hold a Presentation or Webinar

This strategy can help the customers understand your product or service, be it an online or offline business. You can successfully approach your target audience by providing a webinar or presentation and obtain their contact details for potential follow-up. The next step is to discover where your target audience is standing, then organize meetings. 

Organize an event and advertise to the right people, then teach them something about your product. The best places to host these events are the local Chamber of Commerce or in other networking clubs.

Partnership Marketing

You can use other companies that sell /use your company for all of their services. The partnership product marketing is seen as a very appealing choice when primary brands are searching for different partners to support their services. It establishes a solid partnership of brands against a common target market. 

To make sure this strategy work, remind them that this is a win-win situation, and the more goods they sell, the higher their reward is. The other way to persuade them is to tell them that if their customers like their product, it will increase their brand’s value and popularity.

Promote with Online Influencer

Influencer product marketing is one of the methods of online marketing; it is when a brand collaborates with an online influencer to promote one of their products. Doing so would help the brand improve its brand recognition. 

Influencers can be everywhere, unlike celebrities. They might be anyone. That makes them popular are their wide network and social media follow-ups. An influencer can be a famous Instagram fashion photographer or a well-read cybersecurity blogger who tweets, or a trusted LinkedIn marketing executive.

Run a Contest

Everyone loves a contest or an event filled with challenges plus fun. Using your social media to run time or target based competition and see the engagements fly in. You will build your following social base and, at the same time, increase the visibility of your new product. 

Find the right event for your company – in terms of the industry and target potential participants. When you have found a suitable event that fits your requirements, book your place as an exhibitor and mark the date in your diary.

No matter how good the product or service is, it won’t get itself marketed. And word-of-mouth doesn’t always suffice. So you need to be strategic to market your business if you want to achieve your sales and revenue targets. Using all of the available platforms and strategies with the tips above, you can ensure that your product gets the best visibility without the need for a large marketing budget.