INTERNET MARKETING

INTERNET MARKETING

INTERNET MARKETING

 

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PRODUCT LAUNCH

 

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Product launch is making an offering to potential customers in an attention getting way.

Product Launch Steps:

Pre ĖLaunch

- Distribution:  Before you launch your product you have to have your distribution mechanism in place.  If you plan to sell your product in other retail stores where they can be purchased then you have to make sure that they are in place in those stores by a designated date so that you can announce that to your customers.  To get your product in other retail chains you have to do so through an established distribution channel or one that you created.  If you only plan on selling the item from your store you donít have to worry about this.

- Positioning & Messaging: 
  
- Define what youíre offering and how itís different (better) than what the competition is offering
   - Define the value to the customer
   - Define how will it be packaged and offered to customers

- Establish Launch Goals:  Be specific about what youíre trying to achieve and have the mechanism in place to measure it.  Examples of goals include:
   - The number of people you want to reach
   - The demographics you want to reach (age, gender, social & economic background, etc.)
   - The number of downloads in the first day (week, month, etc.) you want to achieve

- Leverage Marketing Tools To Reach Customers:  Utilize the most effective and efficient methods to reach your audience.  Social media, blogging, current customers, employees, press releases, etc. are examples of marketing tools that can be leveraged to get your audienceís attention.

- Build Adequate Inventory:  Be sure to have enough of the products on hand to meet the expected demands.  You donít want to turn away customers who are interested in your product.  Have samples and demos to be handed out at the launch on hand.

- Build Excitement: 
   - Develop a simple, straight forward, and catchy slogan that identifies your product
   - Peak the interest of the public by releasing bits of information about your product that captures their interest and make them want to learn more.  This could take the form of short videos, pics, short statements on your website, etc.
   - Announce deals for purchasing the product upon launch.  This could take on the form of a discounted price.

- Giveaways:  Create samples and demos to give out to give out as freebees to those in attendance. 

- Displays:  Develop your displays and have them on hand in time for the launch.

- Time The Event:  You have to time the event to maximize exposure and thus, sales.

- Determine The Launch Venue: 
  - Tradeshows:
  - Media Event:
  - Local Event:

-  How Did Others Do It:  Do some research to find out if other companies have launch a similar product and how they did it.  Find out what are some of the venues and promotional methods they used.

- Train Your Sales Team:  Make sure that the people who will execute your plan are well trained and ready to execute the plan.  Take nothing for granted.  Cover every aspect of the launch by ensuring that someone is responsible for every key task.  Have a backup plan in place in case a team member has a last minute emergency and canít make it to the event to cover down on their role.

- Conduct a Pre-Launch Check:  Check to make sure all of the things above are in place.

 

Launch

- Reveal and demo your product

- Respond to media inquiries

- Monitor activities to ensure that events are unfolding as planned.

- Gauge the immediate feedback from customers and be prepared to make on the spot adjustments.

- Monitor social media and blogs to learn what customers are saying about your new product.

 

Post Launch

- Monitor Sales and respond to trends.  Identify where the interest in your product is coming from and respond to that target audience with enticements or more targeting to keep that good trend going. 

- Take advantage of holiday events to offer deals (discounts, giveaways, etc.)

- Be on the look out for responses from competitors and be prepared to respond to their competitive moves.  Competitors can offer comprebable products and competitive pricing to lure your customers away.

- Monitor feedback from customers.  Identify positive and negative feedback and be prepared to make adjustments based on those feedbacks.  Use tools such as your own website, Facebook, Twitter, pinterest, etc. to gauge customer feedback.

 

 

 

 

 

 

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