The recipe for business success includes many ingredients. However, great products are the star of the show.
Without a great product, you will never gain sales. Then again, even the best products remain unsold if nobody knows of their existence. As such, knowing how to build excitement for a new product launch is essential. Here are four tips to help you achieve that goal.
Make The Product Launch An Experience
Consumers are now afforded more choice than ever before. So, it’s quite unlikely that your product will be something entirely new. Therefore, you need to sell the experience as well as the purchase itself. Company activation installation experts design, develop, and deliver immersive brand experiences. While they needn’t be limited to product launches, engaging audiences with the company and the product is a great way to support your launch.
Whether you plan a specific promotion day or look to have an ongoing experience around the time of launch is up to you.
Collaborate With Influencers
If you truly want to build excitement for a product, you should look to establish social proof. As well as being a great way to build visibility, influencer marketing can strengthen trust. Consumers trust their favorite influencers, who will only associate with legitimate brands and products. Moreover, social media personalities create engaging content that sells the USPs of an item in an entirely different way. They see products through a consumer’s eyes.
While the involvement of an influencer should not replace your own marketing efforts, they are a key component.
Create Scarcity
Social proof is an influential feature in the decision-making process. Still, scarcity and the fear of missing out (FOMO) are what get conversions over the line. It may be worth having a limited run of the product at first. Once it sells out, you could always re-stock. The scarcity encourages people to take action while it also removes the risk of having vast volumes of unsold stock. You could alternatively look to run different variants of the product, such as new color schemes.
The limited edition products could also be offered to your loyal existing customers first through pre-orders. This makes them feel valued.
Focus On Packaging
When buying a product or receiving it through the post, the first thing a client interacts with is the packaging. Therefore, you cannot afford to leave this as an afterthought. Eco-friendly packaging experts can help you find solutions that speak to green-conscious consumers. Meanwhile, bold packaging designs grab the attention and build anticipation for the product itself. Thanks to modern printing technologies, personalizing packaging is more accessible too.
Many people will then share their experiences through ideas like unboxing videos. This will inevitably encourage others to purchase too.
The Final Word
A successful product launch should be carefully planned. All of the above steps will help while involving customers in the early phases of research takes this one step further. And once you have enjoyed success with one product launch, it’s almost certain that others will follow suit.
