5 Smart Strategies for Marketing a New Product or Service

So, you just started a business and of course, you’re excited to introduce your new product or service to the market. You did your research and know exactly what you want to offer to clients. Now, all you need is to get it out there and start generating sales.

It sounds so easy, right? But marketing a new product or service takes more than that. To make your launch successful, here are five smart strategies that are working wonders for other brands today:

Create buzz with an exclusive preview

You’ve probably seen celebrities, bloggers and socialites posting about a lot of pre-launch parties that they’ve been invited to, and they instantly create a buzz among customers who can’t wait to get their hands on the latest lipstick or bag that their favorite personalities are using. An exclusive preview isn’t only a great way to give a sneak peek of your products or service, but it is also a smart strategy to generate interest about your brand. If you can’t afford to host a big party for A-listers just yet, you can do an online preview through social media or invite some of your loyal customers to try out your latest product or service before launching it. This offer will not only help you with marketing, it’s also a good way to make your loyal customers feel special so they keep coming back.

Get on the social media bandwagon

Social media platforms have billions of followers and their marketing power is proven and tested by brands that became big names just by promoting on social media. If you don’t have a huge budget to launch your product or service, you can still build hype through social media contests and giveaways that will reach a lot of people. In fact, studies show that a simple Facebook contest can generate 34% more audience on average per campaign. Instagram giveaways are also very popular among customers and they get you direct traffic too. And the best part of joining the social media bandwagon is, it’s either free or you only need to pay a minimum amount but get more reach.

If you want to get more exposure on social media, invest in Facebook ads that are quite useful in targeting your audience with its impressive data collection. And with more than 1.44 billion active users, you’ll surely reach more customers in a short amount of time.

Make your content on-point

Good, consistent content is one of the most reliable marketing strategies today, and you can rely on it to not only promote your product or service but also provide useful information to customers. Take the time to invest in a high quality blog where you can post content about your product or service, updates about your business and even promotions and contests. The goal here is to write good content that your followers will enjoy enough to share and bring more traffic to your website.

Organize an event

If you’re not getting enough traffic in your business, hosting an event is a good way to get people interested in checking out your product or service physically. You can do an open house, a sample sale or a product launch so people can try your offering firsthand. You can even work with other businesses in your area to come up with a sale to draw more people. You can offer samples or you can let people try out your service. People who see your offering firsthand can easily become customers if you give them a good experience.

Create in-store promotions

Aside from organizing an event, one of the best ways to get people to visit your physical location is to promote your product or service in-store. To make this happen, you need to create an attractive environment to give people a reason to check out what’s inside. Invest in a good logo and signage, offer exclusive in-store discounts or make your product available only in your store for a while. Whatever your strategy is, emphasize that it’s not going to last forever. This will give customers a sense of urgency to try your product or service with these offers before they are done.

Of course, you can’t forget about building and preserving good reputation. You may not be able to avoid problems that may affect your credibility, but you can always make things right by speaking the truth. Take the example of Erik Gordon who maintained his reputation even after a serious accusation.

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Melissa Thompson

Melissa is a mother of 2, lives in Utah, and writes for a multitude of sites. She is currently the EIC of HarcourtHealth.com and writes about health, wellness, and business topics.