Bringing a new product to the market can be exciting but stressful. It takes a great deal of planning and work to ensure that every possible angle is dealt with. Every day across America, new products and services are brought to market that fizzle out quickly and are never heard from again. A successful product launch requires six fundamental steps.
1. Study the competition. As marketing experts, DTN will perform an SWOT (strengths, weaknesses, opportunities and threats) analysis. We take a serious look at the competition and review their marketing materials, experience and unique value proposition.
2. Identify your ideal customers. Who will be buying your new product? Are these customers currently buying similar products? We focus on learning everything possible about potential consumers so that we can speak their language in advertising campaigns.
3. Create a unique value proposition. Your products and services should stand apart from the competition. Your offering should be unique. There are a number of ways to frame your benefits and features so that your product isn’t just lost in a sea of similar items.
4. Develop a marketing strategy. With so many sales and marketing channels to choose from, this important step should help you decide whether to market your product online, through dealers, through social media or any number of avenues. We can devise email marketing campaigns, landing page ads, press releases or any number of strategies.
5. Testing your product. Some products can benefit through focus groups, while others will best benefit from online research or studies. Depending upon your marketing plan and budget, we can perform testing that helps you decide valuable things like the best price point.
6. Rolling out your campaign. As a respected public relations firm, DTN understands how to create the right buzz for any product launch. We can set up a spectacular launch event with press coverage and other publicity. Those first few weeks and months are crucial to your success and we stay on top of social media, investor relations and marketing efforts.
After the initial product launch, we will gradually transform your marketing campaign so that it evolves with the product. During this phase, adjustments can be made depending upon analytics. Our goal is to fully explore every viable means of marketing while building on the momentum of the initial launch.
DTN would love to partner with you for ultimate success in your next product launch. We understand how to apply the keys of a successful launch to any business type. We can work with any budget using today’s innovative technology to gain market exposure and customer loyalty. Please contact us to learn more.