New product launch marketing tips
When you’ve worked hard developing a new product or service, launching it into the market is an exciting milestone. It’s the moment the world learns about your new product. You want it to reach the right people with a message that will compel them to find out more. Here are some tips to help you get it right.
Study the competition
Look at what your competitors are doing, particularly those that have released a similar product to yours. Put yourself in your customers’ shoes and assess what’s good about your competitors’ marketing and what isn’t.
Ask yourself how you can stand out from what they’re doing. Could you be bolder or more targeted with your messaging? Do you have features or benefits that your competitors can’t match? Do you have scientifically-backed product performance data?
Know your value proposition
Your value proposition is the promise you’re making to customers when they buy from you. It defines the value they’ll get from your product.
It should be the bedrock of your marketing messaging, so it’s important to take the time to develop it properly. It spells out to your prospective customers why they should choose your product over another one.
A clear value proposition also ensures everyone in your team is on board with how you’re positioning the product and can communicate the same message.
Test your message
Test your marketing prior to the launch to see how it lands with your audience. You’ll be able to gauge what resonates and what doesn’t, and refine it before the big launch.
Testing doesn’t have to be complicated or time-consuming. You could simply ask a group of trusted existing customers or contacts for feedback. Or you could carry out more formal focus groups or 1 to 1 interviews.
Build awareness in the run-up
If your product release comes out of the blue, it’s unlikely it will reach as many people as it could. Aim to create a sense of anticipation around your product launch. You can only launch once, so you need to make the most of the opportunity. A launch event can be an effective way to ramp up anticipation.
Fix a date for the launch and promote it across your marketing channels in the run-up. Tailor your strategy to the audience you’re targeting.
Track your performance
This will be the first time you’ve marketed your new product and you’ll be able to get invaluable data that shows how well you’ve pitched it.
Set up a system to track and monitor the performance of your activity, from email opens to ad click through rates to conversions. Pay attention to what’s working well and what isn’t and analyse the characteristics of prospects who are engaging.
Support for your product launch
At Clean Growth UK, we’re here to help green focused businesses successfully launch products and services into the market.
Our Innovation Accelerator helps you design, develop, and refine green products, services, and business processes. Based across three universities, we can connect you with academic expertise, labs, facilities, and equipment to help get your products to market faster.
Our Clean Growth Fast Track programme takes care of the commercial side. It provides tailored support and 1-2-1 coaching and covers IP and copyright, marketing, partnership development, investment readiness, access to grant funding, and sales strategies.