Before launching a new product online, it is very important that you work out the fine details through careful planning. That’s because if you rush out into the market without a proper build-up, then no matter how great or innovative your product is, it is bound to fail. And that is what we are going to be addressing here.
Launching a new product online is very similar to launching a new product in real life. However, the approach is quite different when it comes to an online release. In this article, we are going to highlight everything you need to know before launching a new product online.
18 Things You Need To Know Before Launching A New Product Online
Regardless of what kind of product you are planning to launch, here are a number of key things you will need to do before the launch.
Identify Your Target Audience
The very first thing that you will need to do before launching a new product is to identify who your product is for. For instance, if you are launching a new cosmetics line, then you should check what kind of people are into beauty and makeup. Is it mostly women who use cosmetics? What age range do they fall under? What brands do they use the most? What are the special qualities of those brands?
Try to list down a bunch of these questions and find the answers to each one of them as accurately as possible. You can even create a survey and pass it around. Information like this is pivotal for the success of your product.
Research Your Competition
Once you have a good understanding of your audience, the next step is to determine your competition. See if you can identify what people like about them and don’t like about them. You can use that knowledge to better improve your own product.
However, if you are working on a product that nobody has come up with yet, it is still important to see what are the closest alternatives to. Knowing what your competitors are doing will help you stand out from the crowd.
Know What Needs Your Product Will Fulfill
This is an aspect that a lot of people skip out on after the first two steps, which is why a lot of the time when a brand new, never-before-seen product hits the market, the demand for it remains non-existential. That is because, in most of these cases, these new products are not actually solving a particular problem that their potential users might be facing.
Set Up A Dedicated Page Or Website
As you will be primarily selling your product online, it’s important that you have a separate website or page dedicated to it. That way, visitors and potential customers can quickly check out the site to gather all the necessary information they are looking for.
Another great aspect of having a dedicated website is that you can highlight all of the best features and aspects of your product to your customer. You can even put in a countdown clock on the site to let everyone know when your product is going to be available for purchase.
Develop Your Product Message
Developing an effective message that will catch the attention of your audience is a key component of a product launch. As you have already found out what your customers are looking for in a product, tie your message directly to it. The product message should include a catchy tagline, highlight its best features, the problems it solves, and a value proposition that your customers can’t deny.
A great way to develop the product message is by designing a story around it that is relatable. For example, Beats by Dre is not only a headphone brand, but rather encompasses the journey of the famous American rapper Dr. Dre. Having a visible founder to who people can relate is a powerful motivator.
Take Some Compelling Photos
Another component of developing an engaging product message is to take attractive photos of your product. The photos should convey the overall message that you are trying to send. Themes and visual effects are also important. Hiring a professional photographer would be the best idea here.
But we do acknowledge that hiring a photographer might not be an option for everybody. Instead, you yourself can take some compelling photos with your smartphone. Here are a few tips on how to do so:
- Use a room with good natural lighting.
- Use a decent camera phone like a Samsung Galaxy or iPhone.
- Set your phone on a tripod.
- Decide on a background.
- Cover as many angles as possible.
Make A Demo Video
Since you are selling your product online, there is no way for your customer to physically go and check out your product. A great solution to this problem is to make a demo video. These videos are specifically designed to give the customer all the ins and outs of how your product works. For example, Duolingo has a great demo video about how the platform works and how it can help the user learn new languages.
Create An Explainer Video
Explainer videos are another great way to get your product message across to your audience. Unlike demo videos, explainer videos highlight some of the most important features of your product in a very eye-catching way. During the launch of Samsung’s Galaxy S7, the company published a very short and minimalistic explainer video that outlined all the possibilities of using the phone.
Make An Ad
Now that you have established the foundation of your product, it is time that you take some time to create a well-thought-out ad. Depending on the message you have set, your ad will revolve around that. Shoot videos, create custom animations, prepare the overlay text, use eye-catching assets, etc. Combine all these components together to make the ad.
However, now you have to decide where to actually post your ad. Social media sites, YouTube ads, Google Display Network, and Instagram are all great places to run your promotional material and ads.
Market Your Product
A great way to start marketing your product online is through Search Engine Optimization (SEO). Although SEO by itself is a very broad topic, simply put, optimizing your product and category pages with relevant keywords and quality content is the easiest way to gain organic traffic. This will boost your visibility in search results and capture potential customers who are looking for something similar.
Build on top of that by using social media networks. Engage with your customers online and direct them to your website. Making your own blogs is a great way to do this. As more people engage with your product and content, your site will rank higher in the search results. Finally, pay-per-click (PPC) and comparison shopping engine (CSE) ads also work tremendously if you can describe your product with the right keywords.
Make Your Presence Known Online
Digital media is a powerful tool if you can utilize it well. It is a great avenue to generate exposure for your brand and your product. As we have touched on previously, you can start by creating social media accounts or pages on sites like Facebook, Instagram, Twitter, Linkedin, etc.
You can even utilize YouTube and TikTok for your content. Platforms like Reddit are also a great way to see what people think and gain organic engagement. You can also ask your friends and family to check out your new page. Word of mouth is a great way to get people interested because, nowadays, when people hear about something new, the first thing they do is check social media.
Determine What Channels To Use
Next, you need to determine what channels you will use to tell people about your product. Email marketing is a great channel for promotion. You can set up a sign-up page on your website for those who are interested to know more about your product. To incentivize people, you can offer discounts, free samples, exclusive looks, etc., in their email if they stay up-to-date.
Another strategy that you can follow is to let your audience know about the latest happenings with your product through SMS messages. However, do make sure that you have their consent when texting them. As far as offline methods go, attending events is a great way to network with like-minded people. If it’s a trade fair, you can even consider setting up a booth where people can engage with you directly. If they are interested, then they can even take part in your SMS and email campaigns.
Plan A Pre-launch Campaign
As you get closer to launch day, it is time that you start preparing some pre-launch campaigns. The main goal of a pre-launch campaign is to create buzz around your new product. During this phase, one of the most effective ways to get people interested is through influencer marketing. Contact and send samples to influencers so that they can review your product. But do make sure that the influencer you are collaborating with is in the same industry as you.
Setting up pre-orders is a great way to not only gauge the demand for your product but also determine how much inventory you need. You can also offer a pre-order bonus to your customers. Speaking of which, a lot of people seek out special or limited edition products, so that can be a great approach too. Lastly, if you want to get in the good books of your audience before launch day, you can announce that a percentage of your profits will be donated to a worthy cause or charity.
Decide When To Launch Your Product
The launch date is a very crucial aspect to consider when releasing a new product. Let’s say that you are a game developer who wants to release a new video game. In that case, you should definitely avoid launching your game around the time when a new Grand Theft Auto game comes out. That’s because a majority of gamers are going to be talking about the new GTA game, which could be very detrimental to your own game gaining traction and popularity. It’s factors like these that you have to keep in mind. Decide on a date when none of your major competitors have anything planned. That way, you can keep the focus of your audience on your own product.
You can also consider doing a soft launch among your friends, family, and key clients. This is a great way to get some early feedback. However, the best way to release a new product is to do it like an event. Host a contest, giveaways, or provide special discounts to the first ten customers; all of these activities will significantly improve the hype surrounding your product and brand.
Manage Inventory And Distribution
Having enough stock in your inventory is a must if you want to meet the demand of your customers. This requires a delicate balance because if you have too much in stock, then there will be leftovers. On the other hand, if you have too little, then there will be a shortage.
In addition, you also need to set up a proper distribution channel. This depends on the scale of your project. If you are selling your product locally, then having a small-scale delivery system should be enough. However, if you are selling your products worldwide through Amazon or any other international e-commerce site, then you have to consider how you will ship your product to different countries, which can be quite costly.
Prepare A Post-launch Strategy
And finally, you need to have a post-launch strategy in order to keep the momentum of your product going strong. Make a team of support staff that will help your customers out if they have any issues. Keep yourself engaged with all the happenings on social media and promote your business as much as you can. Aside from all the positive comments and praises, gather all the constructive feedback that you can. This will greatly help you when developing the next product.
Set Targets That You Need To Meet
Throughout this whole process, you must set realistic targets for yourself. Expecting to sell millions of units on the first day is not possible, even for some of the biggest companies in the world. So, start with the very basics. Set specific targets for the number of people you want to reach, emails you want to send, influencers you want to collaborate with, website visitors you want to get, and so on.
You can do this by diving into the analytics of each and every channel you are using to market your product. There are plenty of helpful tools that will generate these reports for you. Going a step further, analyzing which email subject lines work the best can also come in handy to better optimize your marketing tactics.
Have A Backup Plan
Last but not least, you must have a backup or contingency plan for everything that you do. You shouldn’t be surprised if something isn’t working or if one of your strategies is just not clicking with your customers. Be adaptable and ready to deploy a backup plan. For instance, if you find that people are not very keen on the idea of SMS marketing, then shift to email marketing instead. Or, if you see that people are not engaging with your content on their own accord on Facebook, then try posting them on specific groups where you will find more like-minded people.
Final Thoughts
We know how daunting it can be to launch a new product online. That is why, in this article, we have highlighted some of the most important things to know about before your new release. As time goes on, you will have more experience about what you should and should not do. Most of these strategies involve a lot of trial and error, so be open to feedback and criticism. Overall, if you follow these steps as well as implement your own set of strategies that work best for your brand, you should have a successful product launch.
