The new release or launch of a product always consists of lots of work and full of obstacles until it’s launched successfully in the market. However, you could be offering the best new product or service around, but if you don’t promote it properly, you’re likely to miss out on opportunities or even end up losing money down the line.
Also, a new product with no promotion probably won’t get much attention. According to Harvard Business School, every year 30,000 new products are released and almost 95% of products will fail to make significant sales.
What could be the reason? So promotional failure can be because of product quality to its perception. Regardless of your business type or industry, brands, both new and old need to be innovative to stay relevant. Whether you’re releasing a new product or an extension of an existing product line, you have to make sure that your marketing efforts lead to tremendous sales.
When it comes to promoting a new product or service for your business, it can seem like there are multiple choices. It can be difficult to determine where to get started and which methods of promotion work perfectly and deliver the best results. The ultimate way to promote your business works may depend on your niche, offerings, and audience. Here you will get to know about a few of those ways, so see which ones make the most sense for your business.
Many ways of promoting new products can lead you to early sales and overall success, and below are the methods of product release that will get people to entice you about your brand. Excitement toward your brand will lead to an enhanced customer experience and an increase in overall sales.
So let’s give it a whirl…
1. Build Excitement before Launch
What your customer know about your new product before launch will decide how successful your launch is. Yes, let your customers get excited about your new products as early as possible means they shouldn’t find out about a product after it hits the market. What you need to make sure is that they are acknowledged before your product release, as the anticipation makes the product that much more desirable.
However, this makes sure that people want your product badly and the result is an exponential increase in early sales. You can start this hype at a particular event or through digital channels by giving a shootout to your target audience.
Another way is to use social media or video marketing to promote your new products early. This is one of the effective ways you could consider as you can show off what’s new and give customers an inside look at your brand. Hence, use such tools to build excitement and spread the word on your new product.
2. Introduce with special offer and deals
According to research, 4 out of 5 people said they feel encouraged to make a first-time purchase with a brand that is new to them if they found an offer or discount. This is why it is good to brand use new customer special offers to entice consumers in online ads. Rather than just promoting your new product or service, you can make it available as a part of a special introductory deal.
The deals are many forms, such as:
- Discount pricing
- Voucher or Coupon with purchase
- Buy one get one free
- Special holiday offers
- Free gift for every referral
- Free gift on a high prized purchase
Whatever it is, make sure that it won’t last forever. You can benefit from it as a person or shoppers with no purchase mind will also likely to buy a product by these deals or offers as they will feel a more pressing sense of urgency to buy. Note, always entice your customers by showing the end of the sale or they will don’t get somewhere else offers so they directly make a mind to purchase your product.
3. Start taking pre-orders
You might be thinking how and why so your business doesn’t need to wait until the product’s release to start boosting sales. All you can do is take pre-orders after you have built up the hype over the product. There are plenty of benefits associated with this such as;
- You will get paid for your product before launch
- Customers will be engaged with you and your business
- People will think that there will be no stock if they haven’t purchased now
- You got time to prepare the processing and shipping departments before the product before the release date.
Taking pre-orders also allow you to fix any problems before a product’s official release. Ensure the order process goes easily for all your customers. You can track how your customer service, shipping, and everything performing concerning your new products.
4. Add a new arrival section on your website
This is the best way to promote your new product and boost sales. All you need to do is when you release new products, highlight them on your website and have a dedicated section for new releases. Meanwhile, create a new arrival section on your website to alert your customers about new products or services.
This will also help your existing customers to look at your product and come across your latest item updates. It also illustrates to them that you update stock without failing and that will motivate them to connect more with you and your brand.
You can also use the product ribbon/labels extension made by M-connect Media to promote your business in a new way. Suppose you are launching a new luxury fashion store, and you want to let people know the special category product. With this extension in your store, you can highlight those products with ribbons or labels. You will have to set the field to yes to enable and select the icon for the product ribbon on the new arrival product extension at your store.
The new arrivals section should be visualized to everyone and easily seen on your website’s homepage. So make sure you include it under your product tab and also appear as its section within the main navigation bar. This enhances the sales and will deliver a better customer experience.
5. Social Media is a powerful weapon
Indeed! If you’re using any of the methods mentioned above for your product or service, ensure to promote your new deals and offering via social media platforms. This is the best way to reach your audience, and those connections in your social media account will help you by sharing your post to their profiles and that’s how you will get maximum reach.
Another way you can use is by asking your prospect/customers about the product and collect their perspectives. However, these suggestions will add value to your product as you can make the changes if required or if it’s not done properly.
If you have a trusted or loyal social media family, you may also want to use a custom hashtag in your promotion post. This will expand the reach of your campaign along with popularity among a wider audience.
These are the important things you can do to ensure sales whenever you release a new product. All you need to make sure is to follow these instructions and implement them wisely according to your business or industry.
Are you in search of an eCommerce Development Company to build a website? M-connect Media can help you build a customized website according to your need. We do also have a range of extensions from which you can benefit from. Contact us now!