Tips to launch a new product on any market

Before internet, our mail boxes and our phones were mostly solicited to get us to buy new thing from new companies. These techniques are now being replaced by internet banners that suggest the purchase or emails that pile up in your inbox. These concepts are now well known and have a limited efficiency. Here are a few pieces of advice for a successful launching.

Identify your market target and adapt your marketing techniques

Once a product is finally ready to go, many people will think the work is over. After long hours of work, you came to what you believe is perfection. At least, as perfect as can be.  As the creator or the owner, you see very clearly its purposes and its benefits. However, the consumers do not. They have no idea what the product is for, how it is made and how they can use it.

As step one, you need to disconnect with all your knowledge of the product to put yourself in the consumers’ shoes. The first question you need to ask yourself is what needs the product you are making are fulfilling.

From this answer, you will figure out who is most likely to use it and it will also give you an idea of how much the final cost will be. Is your product disposable? Does it follow fashion? How many times do you need to buy it in a year? In ten years? How often people shop for your item. Is it clothing? Is it electronic? Is it a primary need? Can you decline it into different colors, shapes, patterns, taste? Do people buy just one or many? Do you want to target people that buy more at a lower cost and are less interested in quality since they dispose of their belongings fast? Or do you want people to keep your items longer and therefore put more time and effort into selecting a long lasting fabric if clothing or a more powerful battery if electronic? What is your target spending power? All these elements will impact your volume of sales and the price.

If your item has already competitors and is going to come out in an already developed market, try to get some data. Starting from scratch a research on potential clientele is a lot of work. You may want to spend a little more to obtain data and narrow the profile of your potential buyers to effective targets. For instance, you may obtain information of people that are already interested in your product, people that bought something very close to it and people that browse on websites where you could potentially advertise efficiently.

It is very important not to neglect any human interaction in the process of selling or customer service. If you open a restaurant and sell food, feel free to go around town with samples, if you are into car business, an automotive call center can be a great idea to follow up and gain more business. You can also add a face to your brand so people get used and attached to a character created just for advertising purposes. The key to launching a product with success is a creativity.

December 2018
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