When launching a new product and/or service, your marketing strategy should include new product releases. This new product release can either be news to the public or a “leak” of information that can help clients decide whether to buy from you. When you release new products, clients often have questions and you want to address their concerns. To do this you need a way to communicate with your client base. That’s where a marketing plan comes into play. Below, you’ll learn about the different kinds of marketing plans you can use when you’re just starting out, expanding your product line, and rebuilding your customer base.
Marketing Strategies You Can Use When You Release New Product Launches:
You don’t have to be in the middle of a big advertising campaign to be able to effectively communicate with your customer base. A message map is an excellent tool to assist you as a PM to guide the PM as to how you plan to utilize it and then allow you to update it accordingly as launching a new product is announced. Whatever plan you set up, you must begin the communication phase by giving a structured outline to the Product Manager so that everything you anticipate is laid out on paper. Once you’ve done that, the rest is easy to handle. The planning and execution will fall on the shoulders of the Marketing Manager.
When Your New Product Releases Are Delayed Due To Major News:
There’s always going to be times when a company has to move on something and other companies need to catch up. In these cases, delays in new product releases become a reality. When a company has to move quickly to make a big announcement or launching a new product line, they need to move fast. Delays happen. When this happens, it is very frustrating for the public. For this reason, the Product Owner must make sure that all plans are in place and that there is nothing else going on that could derail the launch date.
Product Management and Marketing Strategies When Your New Product Releases Are Delayed Due To Major News Items:
If a major news item occurs before your new product releases, you can expect that delays will become an integral part of the entire launch process. No one wants to think about a delay, but unfortunately it has to happen. When a company needs to move quickly to make a big announcement, they must push the deadline out and allow ample time for consumer reaction and market research. Without enough lead time, there is no way that the marketing and planning campaigns can adequately prepare their teams to handle the launch. In this case, the best thing to do is give the tasks to a trusted employee who has proven experience managing product releases.
Using Technology to Help You With the Launch: In addition to hiring a trusted employee, consider using technology to aid your release.
Google Hangouts, Twitter, YouTube, Facebook Live and Periscope can all help you with your launch. Google Hangouts allows you to broadcast to thousands of people at the same time, providing the biggest opportunity to interact with your audience. Facebook Live and YouTube also provide a unique opportunity for consumer feedback, which helps you make changes to the new product as well as the marketing plan. Twitter will allow you to reach millions at a single setting, so if you have a great product and a great media campaign, this tool is a must.
A Great Way to Set Goals Before Launching a New Product:
One of the reasons that so many companies fail to launch a successful new product is the lack of clearly defined expectations or a clear marketing strategy in place before they even leave the garage. It is extremely important to have a clear idea of what your expectations are and how to communicate them once you start the launch process. Make sure that your release is not just an enhancement to your current product line or service. It should stand on its own and be marketed on its own. This allows you the chance to establish a position for your product or service in the market and helps define and measure it against competitors and other services and products in your market space.
A Must-Have: Social media has changed how we do business.
More people are turning to their smartphones and internet to do their day to day tasks, so it only makes sense to have a marketing plan in place to increase your exposure and create a buzz around your new products. To ensure that you capture the attention of your target audience, it is essential to have a robust and engaging social media marketing plan in place from the outset. The best part about creating this marketing strategy early in the launch is that you can measure your results before the crowds start to gather.
Getting Back to Basics: When launching your new product, it is vital to simplify your approach and keep it simple.
After all, your target market will appreciate a simple to use and understand product that doesn’t involve hours of research or rehashing old news. Simplicity when launching a new product also means focusing on high-quality video content that provides clear insights into your core message. A marketing strategy is worthless if it is not optimized for your brand and audience. So be sure to run through your marketing strategy, make any necessary changes and take the time to ensure you have your objectives aligned from the outset.