Are you launching a new product/service into the market? Have you done your research and decided what you intend to offer?

It might seem all easy but people discover business ideas everyday and some don’t go well as planned because they don’t put proper considerations in place before launching.

 Here are some highlighted steps to guide you through when bringing your product/service to the market.

Research about your competition

Before launching your product, you need to take a second look at your competitors. Look out for businesses that offer the same product/service as you.

 Find out who your competitors are, review their marketing materials, their ads, brochures and websites.

Note these things: How will your new product or service stand up against what’s already being offered? What ways will you excel, and also what are the odds towards the success of your business.

Have an ideal target customer

 Focus exclusively on a customer prospect that would most likely buy your products.

Your customers are those who are mostly using a similar product; you should give them a reason to buy yours instead. It is much better to fill a  need than to create another.

Create a unique selling point

By now you should already have a clear understanding of what you are going to offer that would make you stand out from your competition. Why should your customers buy from you? How many competitors are out there? What benefits and offers are your prospect customers going to value most?

Basically, you product/service should be unique to meet the best needs of your customers.

Map out your marketing strategy and tactics

Next, pick your marketing and sales platforms. Are you marketing through E-commerce platforms or using sales agents to drive sales.

In most cases, businesses that employ the use of multiple streams of marketing get the best results because customers can shop at their convenience.

Test your product and marketing approach

 Don’t rush headlong into the launch phase before testing.

What are the things to test?

You should first check your product/service including your marketing content and materials.

You can employ the use of formal focus groups (which consists of people of your target market), mall intercept studies or share your products with customers for testing.

After testing is complete, then you can finalize on your marketing tools.

Draft your campaign strategy

Public relations come in handy when launching your business.

 Using some media tactics such as interviews, having key press review your product, grassroot marketing or having a launch event, whichever you choose to boost your media publicity.

Don’t relent on your marketing, keep up with the media results and be ready to adjust your campaign at any time to get better results.

Launching your business is a step by step process that shouldn’t be rush. You have to pay attention to every little detail to achieve the best results.

Need help with testing your product? Click here for more information.

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