How to Market a New Product

It’s important for you to know how to market a new product. Having a great product is just the beginning; the real battle is when you market it. It is essential that your product is marketed well in order to get the ROI. Often,  good products haven’t had the success they should because of  lack of good marketing initiative. Awareness is the name of the game and the real challenge is to get the consumer buy your product.

We’re going explore few online marketing ideas that can help you on how to market a new product.

Start with your website:

Updating your  product category is not good enough. It’s important that you make sure your landing page has all the information about your product and clearly state its features. You should also mention what makes your product stand out against competitors and what its advantages are. Clear distinction between your competitors is essential. It’s also important to dedicate a separate tab in your website for the new product. Be sure to mention any special offers related to your product and include a very good product explanation with photos.

Social media:

If you want to create a buzz with a limited budget, social media is the tool for you. Make separate Facebook, Twitter and Google Plus page for your product. If you think it is difficult to do that, you can create a campaign in your company page instead. In order for a campaign to work, you will need to set a small budget. Free reach for any commercial page is decreasing by the day. To effectively reach your target group, you might have to go for social media ads. There are two things that you must try to do through you social media endeavours. First, engage your customers. Second, create a campaign that has the potential to go viral. If you succeed, your sales will rise astronomically. You will automatically get the word of mouth promotion if you manage to go viral.

Google Adwords:

While this is not a free platform, Google Adwords is mighty effective and worth every penny. Adword’s reach is amazing and through ads in Google you will be able to reach your target audience pretty easily. Google’s ad placement algorithm is very robust. The good thing about Adwords is that it is very economical and you have complete control over spending.  The two spending options Google provides are PPC and impression. You can opt for anyone that suits your need and budget.

Newsletter:

It is important that your existing user base is aware of your new product. If you have the mailing addresses of your clients, it’s a good idea to let them know about your product through a newsletter. Newsletters often end up in the primary folder of Google and not the promotional one. So, it makes sense to send newsletters to your customers and urge them to buy your product. These are your loyal customer and they would be the first ones to consider buying your product.

The above ideas can go a long way in answering your question of how to market a new product.

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James Mello
James is the Lead Author & Editor Product2Market of Blog. James writes for the Product2Market blog to create a source for news and discussion about some of the issues, challenges, news, and ideas relating to Product Marketing.
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