Launching a new product or service can be nerve-racking. Without an effective marketing strategy, even the best product can fail, resulting in all the team’s efforts going down the drain. For start-ups and big businesses, marketing a new product or service before the launch is crucial. This helps build up excitement among the target audience and gives businesses a sneak peek of the traction this endeavor is likely to gain.
Don’t know where to start? Here are eight steps in creating a marketing strategy that’ll skyrocket future sales.
1. Create a Campaign Timeline
Mapping out a timeline is essential to any campaign. This won’t only help marketers visualize how the project pans out in the coming months; it will also relieve the anxiety of possibly missing deadlines and sabotaging the entire campaign.
When setting a timeline, marketers need to map out every stage of the campaign, from the buildup, to the prelaunch, to the launch itself. Don’t miss out on the important details, such as how long a certain task should take, the people involved, and the assets needed to achieve the task.
2. Set Tracking KPIs
Metrics are needed in order to measure the success of the launch. This helps marketers learn which areas are working and which ones need improvement. The question is, what metrics should they use? There are various KPIs to consider:
- Page traffic
- Lead magnet downloads
- Cost per lead
- Click-through rates
- Total revenue from online ads and marketing efforts
- Volume-based KPIs
- Landing-page conversions
- Social-media traffic
Businesses need to choose which ones suit their campaign goals. For instance, online retailers can opt for conversion rates while service-based companies can measure success through cost per lead.
3. Identify Marketing Platforms for the Launch
For greater reach, it’s best to market on every online and offline platform possible. These days, most consumers are online, so marketers need to leverage on this opportunity as much as they can. Connect with potential customers through the company website, email marketing, and social media. Businesses can even tap on guest posting on relevant blogs, commenting on online forums, and listing on online directories. This is a great practice that will boost their SEO.
4. Orient Your Team on the Product Launch
No team should be left behind. Inform all departments involved in the launch, not just the marketing department. Don’t forget to involve the sales team before launching a new product. They will be the ones answering queries on the front lines.
5. Get the Creatives Ready
Here’s the fun part—putting a face to the campaign. Small businesses can have the simplest product packaging, but they can capture the most attention when they do the visuals right. When creating the visual assets, make sure they match the product and its unique value proposition. The copies are as important as the aesthetic is, so give them a deep thought as well.
Once the creative materials are ready, it’s time to incorporate them across all platforms, both online and offline. A good tip when choosing a product packaging isn’t only to give it an appealing design but also to know if it connects well with the target audience.
6. Prepare Your Website
Any professional business will want to make sure they are marketing a new product or service on the website. If a small business plans to take on this approach, then its website should be ready to handle a potential traffic spike. Traffic is good for any online business, but too much can cause a website to crash, especially if its hosting isn’t cut out for high traffic. Make sure to have a team ready to handle technical issues on the day of the launch.
7. Take Preorders/Conduct Beta Tests
Allowing customers to preorder an upcoming product will give businesses an estimate of how well it will fare when it comes out on the market. It’ll also give them an insight on how much they need to amp up their marketing efforts. For online services, allowing beta testing benefits marketers, as they’ll know which areas of their product users love and hate.
8. Prepare for the Launch
For small businesses, a product launch can be all sorts of thrilling and scary. But if they’re equipped with the right arsenal, they’re most likely to gain their desired results. No matter how great a product is, it won’t get the amount of attention it deserves without a well-documented marketing plan. Start doing the items on this checklist, and prepare for launch in 3, 2, 1!