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  • 5 Ways to Introduce a New Product to the Market

    Published on May 29, 2020

    It is not easy to create a new product that will be received positively in society, let alone getting to introduce the completed commodity to the real world. The assignment to meet all expectations, tastes, and preferences that each of your customers or shareholders have may not be a walk in the park as it seems on paper. Experts like Apple and Samsung use proactive launch ideas, which eventually facilitate the positive reception that most of their products and services get as soon as they are launched. These ideas include identifying a reliable target market, utilizing social media presence, video and ad creation, creation of product suspension, and finally, brand rewarding. Below are further details.

    Focus on Your Target Market

    The most approved tip for introducing a new product to the public is by establishing a tangible target market. When targeting a specific market, remember to pay close attention to the needs, tastes, and preferences of your shareholders. This is as opposed to channeling all your resources in satisfying all features of the respective product. For instance, when introducing heavy duty barn door hinges, rather than focusing on the distinct features, you can choose to enlighten your customers about the superiority of your hardware over similar products. Here, customers feel like they are part of your business and will want to be involved with every decision-making process of the company.

    Utilization of Teaser Campaigns on Social Media

    We are living in a digital era where marketing is fostered by the simple tap of a key on technology devices. The second strategy you can use to launch a new product is by advertising it through the internet. One way to promote it is through teaser production, where you can take advantage of social media sites like Facebook and YouTube to share with many potential customers the features, pros, and cons of your respective commodity. A great example here is how L-Com has introduced the stainless steel teaser, which caught the attention of many due customers to meeting all of NEMA standards .

    Maximize The Role of Influencer Marketing

    There are certain influential people in different fields of life. These people have an online presence where many of their followers or friends, for that matter, rally behind when it comes to public opinion. You can use the influence that these important persons have in society to launch your product. Furthermore, friends and followers of the influencer will be easy and quick to trust the legitimacy of your product and service because of the power that influencers have in marketing in general. The idea is to let the influencers be among the first users of the service or commodity to facilitate the positive rating of your newly launched product.

    Embrace Unpredictability by Building Suspense

    It is natural for most shareholders to lose interest in newly launched products when they could predict its features along before its arrival. While this may work for products or services being released in series, the first launch may backfire in ways that are impossible to imagine. It would help if you built suspense by keeping all your shareholders guessing about the features and newly advanced traits of your recently launched product. Ideas to maximize product suspense are many. For example, you can go back in history and give your clients a feeling of the vintage era, or skip to the future and bring an advanced taste right at the doorstep of all favorite clients.

    Acknowledge and Appreciate Rewards

    This idea works well with maximizing the role of social media and its influencers. You can merge two or more ideas for launching a new product. One way to do this is by rewarding your brand advocates. A reliable study reveals that one of the most effective tips that experts marketers use to introduce their products and services to the market is hosting shareholders’ contests. The objective of these contents is to help you pick out the most impressive and influential brand ambassador who attracts more leads to your business. When other potential customers see this, they get the impression of loyalty running within the spirit of your company. Ideally, you can place a price on each reward to entice people to try them before the final purchase.

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