Introducing the market to your new product or idea can be both nerve-wracking and exciting. You need to trust that your market and consumer research was accurate and that you have identified a reasonable need, demand or trend that justifies the arrival of your new product on the scene.
However, your research does not end there: you will also need to commit to marketing the product in the right way in order to attract your target audience. To do so, you will need a map with clear pathways drawn up in advance.
Here are some of the top 7 tips you may wish to follow when it comes to marketing a new product.
1) Create an animation video to promote the product
Finally, one of the best ways to market a new product is to create an animation video.
Research suggests video on landing pages can increase conversion rates by as high as 80%, while even a simple mention of ‘video’ in your email marketing campaigns increases the open rate by 19%.
As high as 90% of consumers also claim video helps them to make buying decisions – it is clearly a no-brainer when it comes to getting your brand off the ground.
This technique is incredibly versatile, allowing you to use the video almost anywhere and everywhere to pool in new customers and retain loyal ones. And the best thing about video? It’s in reach for all businesses, both large and small, no matter the budget.
If you’re interested in animation video then explore motion graphics via a motion graphic agency too to get the full video effect. Find out more about what is motion graphic design here.
2) Influencer marketing
The rise of social media shows no signs of falling down any time soon. Indeed, social media influencers continue to evolve with each new platform, and this lucrative career is expected to reach $13.8 billion in value worldwide by next year.
The premise involves a social media ‘star’ simply endorsing your product to their followers in the form of a post or video. These influencers often dedicate their entire time to building a reputable empire under their name, and they are so well trusted by their followers that they are often seen as experts within their particular niche.
It is undoubtedly a solid investment with recent research finding almost 90% of marketers claiming the ROI on influencer marketing is better, or at least comparable, to other marketing channels.
3) Follow a product scarcity model
Marketing your product as limited edition, as scarce in supply, or as ‘running out of stock’ can significantly hike attention and sales.
Every business owner dreams of creating hype around their brand, and this tactic is one way to do so. By suggesting that your product is already so popular that your inventory has taken a dramatic hit, you’re tapping directly into consumers’ psychology and our innate buying impulses.
Most people hate the thought of missing out, especially if it is advertised at a bargain price or with an introductory offer – the fear of missing out on a bargain only compels consumers to buy sooner, too.
By creating a sense of urgency around your product, you’ll easily create the hype you’ve always wanted. In fact, this initiative is so successful that Apple, Nintendo, and Amazon have all tried this trick to some degree, and probably will do it again in the future.
4) Create and offer useful content
Providing consumers with informative content is another generous tactic that involves little effort.
Blogging is relatively inexpensive with some platforms even providing you with a space for free.
Still, this technique is ideal when it comes to marketing your services and products while positioning yourself as an industry expert. A blog on your website to accompany your products is a great way to rank for your keywords, too.
With as little as 54 blog posts, SEOs estimate you can drive 30% more traffic to your website, in turn boosting rankings, generating leads, and ramping up sales.
5) Build a social media presence
Building a social media presence doesn’t have to be difficult or break the bank. Consider, for example, posting a weekly update or an hour per week to engage with like-minded companies. If you’ve started your blog, use social media to share your ideas.
The key to remember here is that you should tap into the platforms that your target demographic is using.
6) Establish an email newsletter
Entering the world of email marketing can be daunting, but it doesn’t need to be.
With a simple subscription model on your website, consumers can sign up to your newsletter themselves. And with a short weekly or bi-weekly newsletter, you can continue to touch base with your existing customers and keep a constant chain of connections for future events and product launches.
7) Run email marketing campaigns
Similar to email newsletters, email marketing campaigns can significantly help bolster your brand awareness.
By reaching out to industry-related sites, you can offer guest posts with the hope that your article will be published with a do-follow link back to your website or product. Having your company name published out there is not only beneficial for SEO, but for raising trustworthiness and building a solid reputation.
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