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Marketing a new product or service can be a daunting proposition on any business. This is true, more so, when the target market involves other business. From statistics, about 95 percent of new products do not succeed. That is right; it is not an amusing statistic, particularly if you are nearing to launch a product you have created. Even reputable brands can have a hard time trying to make a new release a success. But, with the appropriate marketing you can considerably improve your chances to sell amply right from day one, relieving the stress of your launch. With that in mind, the inevitable question is how do you ensure you take the stress out of marketing a new product? In the guide are some tips that you should guide you on how to handle the process successfully.
To start with, ensure that your emphasis is on a unique selling point. Try to know what about your product or service gives it a leverage from everything that is presently out there. That should assist you in identifying where or what your marketing efforts should be focusing on. Make sure you know client pain points and how your product/service addresses them, and not focusing on features that might seem fancy but with no real difference. If you are struggling to determine a unique selling point, it is best that you go back to the drawing board.
Additionally ensure that focus your marketing to your current customers as a loyal, engaged customer base should also be considered. This is because marketing directly to your current clients make things much straightforward. They are already loyal to your brand and therefore, it is easier persuading them that the new product is worth purchasing. Devoted clients also make decent brand ambassadors, and if they are ardent about your new product then they will get the word out. Make the most out of your social media profiles, website, email lists as well as industry networks. You do not need to go back to the drawing board with every new product you launch.
In addition to that, consider getting help from marketers if you are feeling burdened. You should be ashamed seeking additional assistance more around something as elemental as a new product launch. Consider employing a B2B marketing company for professional advice on reaching the ideal individuals, building brand awareness and keeping the thrust going after the initial product launch.
Attracting attention from the press is much easier than you might think and it is a decent way you can arouse discussions about your product among people. You can organize a publicity stunt regarding the product, establish a mass charitable giveaway, or tell a captivating narrative regarding the product’s origin.