With an increasingly fierce market, it is essential to always have a new product, more competitive, interesting and innovative. When placing your item for sale, you should pay close attention to its launch, which is a very delicate phase.
If you have invested a lot of money in developing the novelty, you certainly need a quick return so that there is no loss. However, it may be that your product meets exactly the demand of your target audience, but because it is unknown to the general public, it may not have a good output. So even if your idea has great potential, it may end up not being as successful as you would like.
How to avoid this situation? Check out this list I prepared with tips that will make the launch of your product a success!
1. Create a Sales Plan
To start off, you need to make sure the new product is aimed at the correct market. If you set your target well, you are more likely to be able to devise a smart strategy to attract their attention.
For example, if your product is aimed at the women’s fashion market, go beyond the target “women.” Think of women between 18 and 30, with a fixed income between 2 and 5 minimum wages, for example. The more specific you are, the more accurate the marketing and sales strategy will be.
Once you’ve defined your audience, follow these steps to make an effective sales plan for your new product:
Step #1: Sales Goal
The goal must be specific, measurable, and especially realistic. It is best to set short-term goals: selling 500 units in 30 days to the end customer and 1000 to retailers, for example.
Step #2: Sales Strategy
Define what your strategy and selling tactics will be like. Think about whether sales will only be made through e-commerce, in-store, through resellers, etc.
Step #3: Set Deadlines
Set realistic and specific dates for previous items. This will give you the right schedule to follow and to measure whether progress has been made or not.
Step #4: Sales Growth
Determine how much you want to increase in sales at a given time, for example, 30% in the second month after launch, 20% after the third month, and so on.
2. Build Your Market
Establishing a relationship of trust with your consumer is essential. One of the best options is to sell directly to the end customer through your own portal or using the big web stores.
An interesting way to know what your customer thinks is through feedback via social networks. The Internet has enhanced the interaction between seller and customer, and this gives the chance for constant improvement of the business.
So, listen to what they say: filter out the key suggestions offered, analyze the criticism made, and make the appropriate changes. This will help your business grow and your product to stand out in the marketplace.
3. Expand to New Markets
One way to make your product reach the general public is through big sellers – for example, big physical stores like department giants. When your product reaches a good level of excellence, approach these retailers with photos, videos, even samples and show them how your product will leverage sales.
Remember that when dealing with this type of marketer, you need to have more than just a good product: you have to meet goals, deadlines, leverage product advertising, and so on.
4. Be Patient
Often, the process, until your product is sold by major stores, is long, arduous, and time-consuming. Therefore, you must be patient and not get flustered. To consolidate your product into the market, there is no way to skip steps, or you risk seeing your effort go downhill and take huge losses.
If you follow these 4 secret and effective tips, you will learn how to master the art of launching a product.
Contact me at email@example.com if you need help with launching your product, getting an investor, and much more.