13 Jan 5 Ways to Generate Buzz When You Launch a New Product
Do you run an online business and sell products? If so, you must be aware of how much it is imperative to market a new product in the right way, are you? As your online business grows, your product lines will also be likely to grow and expand to keep up with your valued customers’ needs.
Every new product deserves an impressive product launch to grab customers’ attention which can add benefit to your online business. But it all comes with creativity, in the more creative and right way you launch a product, the more likely it will add value to your business.
Sometimes online businesses neglect the importance of launching a product in the right way, and commit some mistakes during a product launch or introducing a digital service.
Anyways, here is a list of mistakes to avoid. Let’s start!
Top Mistakes While Marketing a New Product
1. Focus On People, Not Customers:
Remember one thing, the aim of putting efforts in launching a product is to attract your current and new customers. It’s not to show off to those who are not your customers. Whether it’s your share partner, business friend or family member, you don’t need to please them or do product launch to get praise from them. Your focus should be your customers. You can take suggestions from others but should have a clear vision of your customers.
2. Setting The Wrong Product’s Price:
This is a very crucial factor to consider; the wrong price could badly impact your business. Remember, the price can make or break your business deal. Customers are likely to buy from you if they feel your product is offering value at a reasonable price.
What most product launchers do is, they set low prices initially, and once they start getting customers, they double the prices. This is not the right way if you want to stay in the race for a longer time. Research, analyse, and collect results from the market and see what your competitors are doing and then set a price for your new product.
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3. Not Testing the Market:
Before launching your product, you need to conduct product and market testing. Your focus group should be your customers. Let the people test your product. See if there is any bug in your product, and how the product works after that. It gives valuable insight into your product, and you can evaluate if there is any need for improvement.
4. Ignoring Customers Feedback:
While marketing a new product, ignoring customers’ feedback is one of the biggest mistakes that businesses commit. If you have done a soft launch, then surely you will get a lot of feedback from customers. You should consider those feedbacks, especially the negative ones, and should work on those things you can become serious drawback later on.
5. No Marketing Plan:
It is good to have faith in the quality of your products or digital service, but don’t be overconfident when it comes to marketing a product. Even if you have a big brand, you will likely to get a few new customers for your new product without doing marketing. However, this wouldn’t work at a larger scale for a longer time. You need to have a solid marketing plan for launching a new product. Having a good plan in place allows you to reach your targeted customers and improves the results.