How will you handle marketing your product or service?

Digital Marketing
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#1

The best ways to promote a new product or service

  1. Offer loyal customers an exclusive preview.
  2. Use a special introductory offer.
  3. Make use of Google My Business.
  4. Run a social media contest.
  5. Spread the word via email.
  6. Write a blog post.
  7. Host an event.
  8. Offer a complimentary upgrade.

1. Offer loyal customers an exclusive preview

Your loyal customers are a key part of how to promote your product, because they are most likely to not only buy it, but also promote it to their networks. This can take the form of a private, in-person or virtual pre-launch party: an online tour, preview, or demo. Or, it could even be a special invitation to test it out and give feedback. These exclusive offerings to loyal customers reinforce how much you value them and also help to retain their loyalty.

2. Use a special introductory offer

Rather than just announcing your new product or service, you can make it available as a part of a special introductory deal. This deal can take many forms, including:

  • Discounted pricing.
  • Reduced-rate bundle or package.
  • Joint promotion with a complementary business.
  • Voucher or coupon with purchase.
  • Buy one get one free deal.
  • Double the points if you have a loyalty program.
  • Free gift for every referral.

Whatever your promotion, be sure to emphasize that it won’t last forever. Customers whose purchase power is limited, either by time or inventory, will feel a more pressing sense of urgency to buy.

3. Make use of Google My Business

There are several ways you can promote your new product or service using your Google Business Profile, provided you have a Google My Business account. The first is via Google My Business posts.

4. Run a social media contest

Social media contests are a fun, easy way of connecting with customers and bringing in more fans/followers and prospects for your business. Facebook contests garner an average of 34% new customers per campaign, which is a great way to combat the platform’s low organic reach.

As far as positioning is concerned, the winner(s) of your Facebook or Instagram giveaway should gain the opportunity to be the first to get their hands on your new offering, and get it for free or at a discounted rate.

5. Spread the word via email

Did you know that 82% of consumers open emails from businesses, and that 76% of email subscribers have made purchases from an email marketing message? Email is a fantastic channel for getting the word out about your new product/service. Plus, it makes a great incentive to get subscriber signups in the first place.

6. Write a blog post

When promoting your new product or service, you may not have a landing page for customers or subscribers to go to. After all, your new offering could just be an upgrade on an existing platform or account. In this case, your goal may not be to get more customers, but to get your existing customers engaging, or to re-engage dormant customers.

Having a blog post written on the newly launched item is a great way to go into depth on all of the details, features, and benefits you would otherwise include on a landing page, and y

7. Host an event

Events not only get customers excited about your new product or service, but can also get new prospects personally engaging with you or other employees of your business—a great way to win them over as customers.

8. Offer a complimentary upgrade

If your business is more service-based than product-based, like a salon, spa, fitness center, or consulting business, you can offer an upgrade for customers to try out your new service. Promoting a new facial or massage type at your spa? Provide a complimentary (but perhaps temporary) upgrade for existing customers to try it out. Expanding your agency’s PPC offerings? Add the new service to existing clients’ packages at their legacy pricing. Another option would be to offer free shipping of your new product, for a limited time.

9. Allow trade-ins

If your new product is, in fact, an upgrade of an older one, consider a trade-in program. Trade-in promotions are effective because consumers are more likely to buy a new product using a token or credit they already have (in this case, the product they own). You can also resell the old trade-in products (provided they are in good enough condition) or use them for future giveaways.

10. Share customer reviews

One of the best ways to promote a new product or service is to let your customers promote it for you. If you take advantage of some of the ideas previously mentioned (like offering an upgrade or free trial), you can then ask them to write an online review of the new service or provide material for a testimonial.

11. Post on social media

If you’re using any of the tactics mentioned above to promote your new product or service, make sure to spread word of your deals and offerings via your social media accounts (as many of the companies did in the examples above). This is an easy way to reach your audience, and your followers can easily share your post to their own profiles. Another benefit is that customers/prospects can ask questions about the product in the comments section. Their questions and your answers can serve as an organic FAQ. The post can link to a landing page or blog post with more information.

12. Run Facebook ads

With 1 billion daily active users, Facebook advertising is a window to a large base of people who will be interested in your new product or service. Facebook ads are particularly useful because the personalized data voluntarily provided through users’ profiles makes for unbelievably specific audience targeting. You can factor in gender, age, location, interests, marital status, profession, and more—ensuring you’ll get the most bang for your buck. There are also several options for ad type, budget, and duration of campaign, so you can accommodate your goals within your means.