Launching a brand new product or service is an exciting milestone for your business or organization. All of that hard work is finally ready to be placed on the market. After creating it, you need to tell people about your product or service and that is where marketing comes into place. According to publicity.com 95% of the 300k annually launched product fail, so having as much help as possible is key.
Knowing your customer
You need to know your audience, who are the people you were thinking of when you created the product or service? What is your product or service? How does it work, what does it cost and what problem does it solve? Are there other products/services like it on the market, if so, what makes yours different? Once you’ve answered these preliminary questions, you can move on to the next step.
You should have a strategy in place to achieve your goals with the product or service. For example, what are your goals in terms of revenue? Is this a product or service that customers will use more than once? You will also want to remain flexible, more often than not, you may be confronted with challenges that you may need to adjust for. It is not uncommon to make changes with the plan.
In order for people to learn about your product or service, you need to educate them. This happens through marketing. Your plan should include how you will educate your customers on the product or service. For this, you may want to create blog posts, a free trial advertised through a landing page, and advertisements linking back to your website or various landing pages to share more details.
Once you’ve created the collateral pieces, you need to advertise it. With advertising, you want to target the people who are going to buy your product or service. That is why we asked those specific questions before. With that information, you can target customers by geofencing and diving into specific demographics. Adding location builds upon the effectiveness of a mobile advertisement. Creating a relevant experience is a key factor in the success of your advertisement. In addition, you will want to have quality banner and mobile ads, landing pages and more to go along with your plan.
Measuring and adjusting
So, we mentioned the term flexible before and it is an important trait to remember as you measure and adjust your plan. You will want to have measurable objectives for your advertising and business goals. If a certain ad is working poorly and another is excelling, then you will want to adjust the dollars spent on the ads. It is a learning process with each product or service launched, so it is essential to track the progress throughout the life of the advertisement.
You’ve put a lot of time and effort into developing a new product or service and you never want that to go to waste. That is why it is important to create a plan to bring it to market successfully. It is helpful to bring on an expert who can do the heavy lifting for creating specific advertising plans. Thumbvista specializes in geofencing and has helped many businesses grow with that service. In addition, Thumbvista provides tailored reporting as well as recommendations to get optimal results. To learn more about how Thumbvista can help, click here.