7 Steps to Market Your New Product Line, by Brian Newmark
One of the quickest ways for a business to grow further is to add something new.
This something is generally related to the existing products, thus complementing the rest of the product line.
Even if your new product line represents an existing brand, supports existing products and is a necessity for the market, it still has to be marketed.
A new product line needs to be marketed from scratch. One has to do proper research and planning before a new line can be marketed.
Here, in this article, we will discuss the various ways in which a new product line can be marketed.
1) Include it into the previous products:
Making a new product or a product line feel at home with the brandâ€™s goodwill is possible, if it is included into the already existing range.
One of those easier ways to do this is to make the new product look complementary to an already popular product. People will use an after shave of your company if they are already using your shaving cream â€“ this is common business sense.
2) Make a Grand launch:
Even if youâ€™re existing products are doing great and your brand is running advertisements and is a pretty popular name in the market, launching something new and not doing an official launch for it can be disastrous for the new product. If people ignore or reject your new product, it will be particularly difficult to get back into the good books of your customers.
A good launch needs a series of steps, starting with a coming soon page and promotion, doing a countdown and having a lead catching subscription form followed by a welcome newsletter. On the due date of the launch some timed social media shares can come in handy.
3) Collecting testimony on social media:
Getting feedback from the customers has never been easier. With social media at your service you can reach out to your customers in no time and get instant feedback. Using this feedback to improve on the product is one thing but the main idea here is to use these testimonials for promoting the product further on the social media.
Positive feedback helps in reputation management and these feedbacks can be featured on the website as a featured section too.
4) Using Social PPC:
Social media is great for PPC. Sites like Facebook and twitter already have all the details of your targeted customers. Most people hide nothing from facebook and happily give away all their personal details. This might not be so great for them personally, but as a businessmen looking to take advantage of the demographic details provided by facebook is total gold.
Most advertisers are already milking facebook for itâ€™s worth and there is no point keeping away from it. Your potential buyers will search for related things on the search engines and Facebook will show them those products in their account itself. This is how targeted facebook ads are and these products can be yours if you are using facebook PPC as an advertiser.
5) Using Adwords:
Adwords is Googleâ€™s own pay per click platform. This adsense and adwords combo has been the base of Googleâ€™s profits and is tied pretty tightly with their search engines. People who search for things to buy are the first to buy those things. The conversion rate is pretty high on the search engine ranking pages and that is where adwords can place your products.
Having your product line features on pages where people are searching for it is the best way to generate some sales.
6) Using Youtube:
Youtube is a video platform where people upload their videos. These videos are exposed to the insane number of youtube visitors which make them viral if they are worth it.
Get a video created on fiverr and push it on Youtube for promotions. Marketing is never complete without a strong video intro and testimonial backing your new product line. This helps to gain trust and a feeling that a real person is saying something good about the product that your customers are planning to buy.
7) Using Niche social sites:
There is no dearth of social sites on the internet, but using a wrong one to promote an untargeted product wonâ€™t help.
When using social sites, niche is important. If the product is about technology, sites like hackernews, Slashdot, reddit can help, similarly for eco friendly products sites like care2 will help more.
Online marketing has many channels and each has its merits and disadvantages. One needs to test these methods with a small budget and analyze results. Those methods that are bringing in results have to be pushed further with a larger budget and the ones that arenâ€™t performing have to be stopped. It does not take a long time to get the new products marketed and familiarized by your existing customers. As soon as people start to use your new product line, it becomes part of the existing line.