Marketing February 11, 2014 Last updated September 18th, 2018 10,343 Reads share

5 Things To Consider When Launching A New Product Or Service

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Launching a new product or service in any form can be quite a hectic job. Strategies need to be planned out and steps need to be taken. How you launch your product sets a precedent for future sales. So, there are a few things you need to consider before launching your product.

#1. Competition:

The first thing to keep in mind is the competition. Visit their websites, see how they have done things and do them better. You can beat your competition if you bring a better product and use better online marketing strategies. It’s all about how you present your product. Different companies have different strategies and effective methods to gain an audience’s attention. Studying the moves your competition makes, learning from their trials and errors and finding a strategy that’s outweighs theirs is a fundamental factor in beating the competition.

#2. Customer preferences:

Know who your customers are. It’s all about what your customers prefer. Give them a product that they would really commit to and appreciate and more importantly sell it or launch it in a manner that will capture the audience’s attention. If your customers see what they like they will end up buying the product or service.

When asked, about customer preferences, from Jose Carlos Gonzalez Hurtado, one of the international business men; he said: I have a mantra I learned in my early days: “The consumer is the boss”. Simple! And now the consumer is gaining online, a significant part of his/her knowledge about Brands, about what or where to buy etc. Now many consumers shop online (and they will do more and more often)… So you have to be in the net to gain knowledge about your consumer, to influence him/her, to sell…”

#3. Precise information:

Don’t write a book when explaining the product or service. People like precise, to the point, descriptions and simple easy key phrases that capture the customer’s attention. Give them a layman’s description and keep it simple and easy. This will enhance your sales far more.

Having a website that is easy to comprehend and easy to get all information and/or buy online, get in touch with customer service without any difficulties, is essential to creating a favorable impression on potential customers and clients. If your website is easy to use and the products are simply explained with no unnecessary elaboration of the product or service then that will hold the attention of your customer.

#4. Social media:

Social media is one of the most wide spread mediums of advertisement and what more is a launch than the biggest advertisement of all. Spread the word beforehand on Facebook, twitter etc. and create a buzz within the audience. If possible let your customers pre-order the product/service. Social media is one of the easiest and most effective platforms for advertisement and getting the word around for your big reveal.  Create a page or account on facebook, twitter, Instagram etc. specifically for your company or your product and get the buzz around. When people like what they see, they will pass on the information which is an effective word of mouth advertisement and is quite effective as well.

#5. Marketing continuation:

Don’t stop spreading the word and marketing once the launch is completed. Every day is a new launch day for your product, so, keep at it and turn your product into a brand with new and revised methods of marketing. Your marketing is half the battle so make sure that you take the right steps while doing that.  A product is as good as its marketing and the continuation of that marketing will ensure that the consumers remain interested in the product or service you have to offer. New services, discounts and other promoting services will really capture the costumers’’ interest.

When venturing into the business world with a new product or service, you will always be nervous of whether it will go well with the crowd or if it is going to be condemned by the masses. But, the way to be less nervous is by making sure that you have taken all the necessary actions to ensure that it will be well received. After all, getting ready to launch this product or service has taken a lot of hard work, time and energy, not to mention a lot of money. So following a few key rules before you launch will ensure that it is a success.

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Thrive Internet Marketing

Thrive Internet Marketing

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