Launching a Brand New Product: Tricks, Tips, and Traps

Launching New Products

Picture this: you just purchased that new piece of camping equipment you’ve wanted and you can’t wait to head to the mountains and see what it can do. But you’re not sure if it’s any good. Before your trip depends on it, you’d love a little guidance or even the chance to give it a test run.

That’s how you can feel when your business begins offering a new product or service. You’re really excited and can’t wait to get out there and tell everyone about it! This is really going to change lives, right? Well, maybe not change lives exactly… But new is better, right? So, where do you start? How do you get the word out about your latest and greatest idea? What obstacles might prevent your newest product from being instantly successful? Here are some key tricks, tips, and traps to keep in mind when venturing out from your main offering into something new and different.

One of the biggest roadblocks for a new business idea is budget. We recommend setting up a budget specifically for promoting the new service or product separate from other marketing expenses. This ensures that the new initiative is funded without depleting any existing promotions. Often, we encounter a situation where the client became overly-focused on the newest offering at the expense of tried-and-true services only to hit a painful surprise when overall sales sag. Don’t fall into the tempting trap of focusing all of your energy or resources on the new and ignoring what’s been working for you!

Another way to safeguard your latest success is to make your marketing effort fun! Creative social media campaigns are the perfect way to start the conversation. Begin with a plan and know what you want to say about the new service. A giveaway, contest, discount, or other incentive is a great place to start. This creates fresh new reason to engage and educate your fans that creates increased awareness for your new idea at the same time. And stick to it! The length of time you run a fun, fresh awareness campaign is vital to its success. Not days or weeks, either. Typically you’ll need 3-6 months for a new effort to gain traction and be able to honestly measure its effectiveness.

Offering a brand new service is thrilling but can be tricky to implement. If you have any questions or uncertainty about what methods you could be using to market your new service, Epic Marketing can help. We have the resources and expertise to take your company to new heights.

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