4 Marketing Strategies for a Successful Product Launch
Strategies for Attracting Attention
Introducing a new product in the market is always an exciting time for any company. Your hard work is about to pay off and soon people will start recognising your brand.
With everything looking good, do you have a product launch plan in hand? Is your product going to get the launch it deserves? Do you know how to get the first impression right?
While it’s not necessary you need to know it all, a bit of strategic planning is all it takes to turn your new brand into a household name.
The tell-tale sign of an effective campaign is one which will resonate with your audience even after few years. Your catchy slogan, iconic logo and innovative campaigns will be etched in their memory forever.
Are you looking for tried and tested strategies to build buzz for your next product launch and hit-out-of-the-park? Let’s get going.
Product Launch Ideas that Work
- Take Pre-orders: Start selling way before releasing your product to the public. If your brand already has a loyal customer base, they’re most likely to buy anything you release. One of the most revolutionary brands whose product launches have become the stuff of legend is Apple. Its marketing mix creates raving fans that stand in line for hours together just to get the first iteration of any new product. That’s the reason they’re able to sell thousands of units on the launch day itself. While pre-orders are an effective way to create buzz, it also provides a portion of funding you may need to sustain your business for the short term.
- Build suspense: We understand that you want your target group to know every detail about your upcoming product. However, building suspense and drawing out the mystery is what creates longer buzz. By deliberately releasing minimal details about the product, you can drive your audience into a frenzy to learn more. Cup branding is a great marketing medium to create hype around a new product launch. The best way to do this is by having a QR code on a paper cup that will redirect your audience to a page that will ask them to sign-up to know when the product is launched. This will not just get people talking about your pre-launch but also help you expand your reach and draw a larger audience.
- Create a Branded Hashtag: Social media is a great tool to create some buzz before the launch of a new product. Come up with a hashtag that your target group can follow to learn everything about your pre-launch campaign. It’s also an easy way to make people take part in conversation, and participate in contests and giveaways. IKEA India’s #MakeEverydayBrighter campaign is a perfect example of a great hashtag. From digital to OOH to experiential marketing, the brand leveraged mediums confined to local markets to create awareness about the brand and spread its belief to create a better life every day.
- Start a Countdown: The simplest way to create excitement for your product launch is by starting a countdown. When your event is getting closer, remind your audience about the launch. When Xiaomi was all set to launch new TVs in India, they decided to kick in the excitement by starting a countdown on their website along with the #SwitchToSmart hashtag. Doing this keeps your target group on the edge of their seat and encourages them to tune in on the day and hour of the launch. To make the countdown more exciting, you can do giveaways and contests too.
Instead of sticking to just one approach, try and spread your product launch campaign across different channels. Consider where your target market hangs out and cover as much ground as you can. Doing this efficiently and effectively will result in a unique, effective strategy that suits your brand and your newest product.