Launching New Products: Let’s assume that you have been running an ecommerce business that sells/markets electronics, with items like speakers, headphones, and other audio gadgets. You began your online business with 5 or 15 products, however – now you are beginning to see your sales increase, and you are starting to consider ways in which you can expand your product lines to meet up demands and scale higher.
An issue arises where you cannot find the time or resources to bring together detailed research to connect with a feasible or viable product, also to mention – adequate time to launch that product without fail. Hence, you are stuck with the items/products you have, leaving you with diminishing returns & an online shop brand with items that’s becoming out-of-date.
This is not only an issue for established businesses, but also for folks that are just getting started in the scene, thus it’s important to comprehend how to create a method for launching new products on a constant basis.
The pointer and key here is to take each product/item, or product line, independently. That way, you can research every one of them – see if it is viable & create a successful launch without an issue. Once your first new product is launched – utilizing such specific method, the process should then get simpler as you continue to utilize the process for future launches. With that, you should keep reading to learn more about how to create a method or a strategy for launching new products/items on a consistent basis.
Establish What Your USP (Unique Selling Proposition) is & whether the Product/Item Will Actually Work
Moving on with our audio equipment store that we talked about above this paragraph, let’s say that you own a field of products/items to select from & you require selecting one for your first new item/product expansion. Probabilities are some of them will sell or market well or greatly, while others might not. With such variables, how do you figure out that special/golden item or product without wasting so much time on trial & error?
You can begin first by evaluating your unique selling proposition USP, or the one thing that makes you uniquely stand out from competitors or market crowd. Do you offer affordable electronics? Do you deliver and make shipping faster than your competitors? Is majority of the products/items produced for working moms that are constantly on the move?
Such inquiries will ensure that you locate a product/item that has more of a prospect to sell whenever you launch. You can narrow your list to only a few couple choices, and then run a test site to find out if any of your current customers/shoppers & friends would consider purchasing the items/products.
Research & Find out Marketing Channels for the New Product/Item
In case you do not know where you are going to sell or market your new products/items prior to launching, it means you are already on the wrong path. Right from pay per click to email marketing, all of these are part of your method or strategy – thus you can simply go thru the list of tasks to complete during the launch of business.
Not every product is distinct. If you opt to begin selling or marketing a waterproof set of headsets, this opens up an entire new group of potential customers/consumers, such as hikers, swimmers, runners & snorkelers. You might have released adverts in electronics journals or magazines in previous times, but a guest post on a swimming blog or a PR (press release) within a camping publication might do you quite better this time around.
Write Product/Item Descriptions that are Thorough & Fun
The product description is not just a list of product features/components. It is an outstanding way to persuade your customers or shoppers to purchase from you & it is typically one of the last moments you have an opportunity to convince a person to take their wallet out and buy.
So spend quality time writing the product descriptions to tie into your company brand and culture. Disclose unique features that they would not be able to locate on manufacturer websites or write fun quotes or testimonials from other individuals that must have used the products/items.
Think About What Offers You Would Love to Make for the Product & Where You Desire Sharing Such Offers
Create a list of the offers that you would love to share in order to scale up business for the new items/products. Also consider how much cash you are going to lose from such promos, and when it is time to consider about changing the price back to normal rate.
Contemplate on Videos Demoing the New Items/Products
Online business is at a vast drawback when it comes to visuals. Folks can walk into stores & observe how items or products function, but they cannot view things in action when it has to do with shopping online. Hence – videos offer a handy approach for them to view some other person testing out the products/items. By sample, Zappos is recognized for making videos of models putting on shoes, walking around in the shoes, twisting & bending them to prove durability.
Generate a Landing Page to Forward Referrals to & Sell More Products
Your main product page is usually where folks will purchase your new products/items, but a well built and designed landing page is almost always going to perfectly convert more sales than a standard product/item page.
Input loads of time & effort into linking ads to such landing pages & add a crazy amount of details, right from multi-angle photos/images to videos, descriptions and to testimonials among others.
Organize an Email Marketing Campaign to Connect with Your Current & Previous Customers
Your past and present shoppers or customers are already known to shop at your online store, thus get the deal started early by forwarding out a campaign of emails notifying them about the new products/items. It is smart to send people from your email campaigns to the landing pages you produced.
Get Personal with a Sequence of Blog Content Posts
Provide distinct looks for your new products with great blog content posts. These offers your customers a more personal view of the products or items, as you can elucidate where the product idea hatched from, what sorts of individuals have utilized the product in the past and much more. Also you can even request for comments & suggestions via blog posts.
Create Buzz & Release Promos & Giveaways via Social Media
New products or items do really well on social media, since such posts are usually not ad-centered, and people get excited about new items/products. Share promos & giveaways to make sure other folks share your links & request customers to share images/photos of them utilizing the products/items after you begin selling. Such is an awesome method to add credibility & communication within your social media pages.
Now up to you…
You can leave a comment or opinion in the comment section below in case you plan on launching or releasing a new product very soon. Also share any other methods you may utilize for steadily releasing new products to the marketplace.
Feature image curtsey of Razlan Manafiah