Internet Marketing Strategies for New Products
One of the biggest advantages to marketing new products today is the potentially wide reach and low cost of online marketing channels. For a fraction of the cost of a print or broadcast ad campaign, you can reach large online audiences around the world.
The main challenge, then, is familiarizing potential customers with your product. It will have to compete with thousands of other new products that are vying for the same audience. What's more, you and your other small competitors will have to compete against established household names whose products are already well-known among consumers.
So how can you show your audience that your product is not only worth their money, but better than your established competitors’? Here are a few Internet marketing strategies to help you get started. Keep reading to learn more, and give us a call at 888-601-5359.
Want to market your new products online?WebFX can help!
Connect with influencers
Consumers trust other consumers far more than they trust companies that are trying to sell them things. That’s why many companies connect with online influencers and give them free products in exchange for honest reviews.
The key here, however, is that the reviews need to be honest. Don’t try to pay bloggers or social media influencers to lie about your products. Customers who make a purchase as a result will be unhappy, and if the influencer values their followers’ trust, they won’t do it anyway.
Highlight user reviews
If your target market is full of innovators and early adopters—people who like to buy things before everyone else—you’re in luck because they’ll buy your product right away. Much like the influencers we mentioned in the last tip, you can ask these first users to review your product.
Send out a brief survey, and encourage them to talk about their experiences. Do they like the product? Does it work well/look good/fulfill their needs? Did they have any problems?
Ask at the end if it is okay if you share their responses. If they say yes, add a few of these positive reviews to your site. When potential customers hear from satisfied customers, they’ll feel better pressing the “Add to Cart” button.
Create original videos
A lot of new products have become household staples thanks to the TV commercials promoting them. But even without the budget for a TV campaign, you can still get new business with videos posted across the web.
Depending on your product, the tone and content of the video can be serious, sentimental, funny or satirical. Produce it yourself or hire a videographer and editor to produce it for you. Keep the length at 30 seconds or shorter. Once it’s done, post it on your website, YouTube, and social media accounts.
Videos are free to share online, and have some of the highest engagement rates of any online content. This means you can catch the attention of potential buyers for only the cost of production—and if you do it in-house, the only cost is time.
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The Internet is a crowded marketplace. There are so many products available right now that no one has been able to count them all. Meanwhile, new products are launching all the time to meet a need we didn’t even know we had. How is your product going to compete?
By being different, and by highlighting those differences.
Your product has to do something new, different, better or more cheaply than other products if it’s going to stand out. Your campaign has to demonstrate this difference. Start with the end benefit, such as lower costs or a need that no other product can meet.
Next, work backwards and talk about how your product achieves it. Showing the primary difference will make your product more attractive, which makes it more likely to have a successful launch.
Write blog posts and articles
Large companies have always written press releases about new products, product updates and other recent developments. These companies also had massive PR teams and name recognition, so their releases got most of the attention from news editors. However, these press releases tend to be dry, and most consumers don’t spend much time reading them.
Instead, write interesting blog posts and articles explaining the reasoning behind your new product. What was the inspiration for it? Was it designed to fill a specific need, or was it the result of a customer suggestion? What sets it apart, and how does it work?
Providing answers to common questions is not only more interesting to read, but will give potential customers the information they need to make a decision about whether or not to purchase your product.
Consider working with other online retailers
Ideally, you want customers coming to your site to buy your new product. However, lots of consumers today prefer to shop with sites they already trust, like Amazon. Expand your reach and potential customer base by making your product available on these sites.
You’ll need to look into the cost of these potential partners, but there are plenty of small and specialty retailers online. Reach out to the sites that are targeting the same consumer base as you, and then talk to them about offering your product on their site.
Use the same differentiation pitch your customers get, only focus on how their customers would like it or how it fits with their other merchandise.
Have a new product to market?
It’s not easy to launch a new product in a crowded marketplace. But thanks to the web, marketing strategies for new products are more expansive and less expensive than ever.
If you’d like assistance with your marketing campaigns, we’d love to hear from you! Contact us today to speak with a strategist and learn how the WebFX team can help your business successfully market your new products online.
Ready to start your Internet marketing and design campaigns? Call 888-601-5359 or contact us online today to learn more about how WebFX can help with your SEO challenges.