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11 Ways To Execute Stellar Product Launch For Your Store
Steps To Execute Your Product Launch on Shopify
Wondering how to do your Product Launch? In this article, We will go through the 11 ways to follow while launching your products on Shopify for either own inventory or dropshipping products.
An estimate somewhere in the range of 70-90 percent of new products fail, this is an indication that the products do not sell at the scale and frequency of profitability, probably a few purchases occur, and that is it.
Products launches are massively important both to new business start-ups right from scratch as well as adding a new product to an already existing lineup.
Successful product launches portend potential in setting you up for long-term success despite your relatively well-established status in your industry.
There is much riding on this, and therefore you need much more than just a simple email announcement carrying a single image of the product you are rolling out.
Often a less than stellar product launch is the culprit between a product failure. Preparation is vital, and this exactly is what this post seeks to do, to walk with you and ensure that you are ready as possibly can be to have a formidable product launch that thrusts you to success.
What Cut As a Perfect Product Launch?
Grand product launch has to be strategic and in its testing and marketing, which usually is a lengthy and involved process; it is more than to list online and have the product available.
Granted that the product should be reliable on its right, it is the marketing really, and all that leads up to it that will make and break the launch because if no one hears about how great the product is, they can not buy.
The lengthy process entails developing strategies and then testing them and then again strategize and testing, all at the same time working on the objective of generating tons of excitement and visibility for the time when the product page goes live online at your site. The process in itself is a learning curve anchored on how you are going to get to your audience effectively.
A Step-by-Step Process of Strong Product Launch
Product launches certainly are not something to be rushed. The implicit is that the process should start early, and this article will walk you through the process step-by-step.
1, Defined Product’s USP
A unique selling proposition (USP) usually applies to a brand as a whole. However, it can be customized for individual products as well.
USPs help explain why a potential customer should buy your product over a competitor by telling what makes yours unique and valuable.
USPs affect the messaging you use and how you market your product; this is significant in strategy development.
You can, for instance, develop a strong USP centered around the effectiveness of a product, if you understand a possible USP that is an excellent place to start, and it should be figured out early in strategy development.
2. Identify Audience Segments
Once you have settled on what makes your product stand out, start by breaking down who your target audience is. Mostly there are several distinct audience niches that your products can appeal.
You can have campaigns geared towards specific segments by creating messaging for each one; this way, you will be successful in product promotion.
You need to break down your audience niches into distinct buyer personas and then tailor-make your strategy to audience segments.
The personas should be fleshed out to the extent you understand their demographics, their motivations and pain point that your product can help resolve.
There is a likelihood each persona will be different from the one next to it, but that Is good riddance because the more detailed they are, the more they will be able to guide your content.
3.Conduct Market Research
Conducting market research is at the top of the product launch checklist. The reason is you want to be able to look and see what is already out there from your competitors, how products marketed, and how well they are doing.
What kinds of ad campaigns are your competitors running? Which aspects a get highlighted, and what kind of reception are the products seeing? Identify your top competitor and figure out how you can stand out.
Market research can help either strengthen or alter USPs more so if you see new ways to present your product differently.
4.Roll Out a Pre-Launch Beta Test
The essence of early testing is that it allows pretesting of initial concepts before investing significant money all on one strategy that may or may not work.
Generally, using small focus groups is the right call. It enables you to identify enthusiastic members of your target audience, including your current customers, and asking them to test your products for free in exchange for their open, genuine feedback.
You can deploy hyper-targeted Facebook Ads using tight geographical or interest restrictions to find test participants or to evaluate the benefit or reception of the product.
Carefully monitor the tests, and then apply the information you learned to adapt.
You must ensure that your audience about the product, how they used it, and their opinion on marketing.
5.Develop a Marketing Strategy
Marketing is king in product launch, and at this juncture, you have tons of data to work with, You can come up with your marketing mix, which is a blend of strategies and platforms which you will use to target audience.
At this stage, you should do the following;
- Decide on what platforms to use and how much to invest in each.
- Define some of the copy to use
- Select specific strategies to implement, like whether to leverage .
influencer marketing, leverage discounts or referral programs.
Indeed, different platforms serve different purposes, with each having their strengths and weaknesses. Consider the following in your choice.
Email marketing has high ROI and is low cost, and it connects you with people already interested.
Search Ads (Bing, Google & Pinterest) allow you to show your products to users actively searching for them.
Ads have higher costs, though it captures users further in the sales funnels.
Influencer marketing an excellent choice for superior visibility boosts quickly and generating hype fast.
Social Ads like Instagram and Facebook are avenues you can use to introduce you to users who fit specific targeted criteria, in effect catching their interests and generating demand.
These Ads platforms are slightly cheaper compared to other PPC campaigns, albeit they require longer funnels to move users to conversions.
Product reviews and referral campaigns are low cost but highly effective, and utilize social proof and word of mouth marketing in your favor.
You need reviews to get you started. That said, these programs should be executed before product launch to maintain momentum going quickly.
The power of casting a wider net is that it means more success quickly. Deploying a blend of different marketing strategies and platforms is ordinarily a right call.
Users in various stages of the funnel require specific messaging at specific times.
6.Creating Landing Pages & Product Listing
After figuring out how you want to market your product, next is to get the landing pages and product listings up and to run.
Get them ready on your website and upload Ad campaigns into the Ad manager area for approval.
No hurry to officially launch anything yet, schedule your ad campaigns to be approved in the system in which you should not begin until you are ready for them.
If you wish to keep your listing page incognito, you achieve it by removing a listing page from Google’s search console, so it is not finable in search and keeping it out of your current site navigation menu. It needs to be done early because you still want the listing page ready.
7.Have Your Launch Calendar Ready
The launch calendar needs to be ready before you start releasing your campaigns, Determine precisely the day you want to do the big public release and then start promoting it in advance and have things orderly in place when time is right.
At this stage, you should be as thorough as having a clear bet test scheduled and clear deadlines when the results should be back.
Also, having clear internal periods helps keep at bay the urge to want to keep testing and testing pursuing perfection.
You should remain accountable to your current timetable, not unless legitimate product safety and malfunction issues come up.
8. Roll Out a Wider Beta Testing Program.
In doing more comprehensive beta testing, you can engage influencers and customers, emphasizing that you want their reviews and honest feedback.
You need to be ready to adapt your campaigns and strategies when and if required. Yes, it may be late in the game, but it is worthwhile to do ti before the product is officially released.
You can try to leverage beta testing spots to increase FOMO and drive early interest. People could sign up on an email list then get notified once the product is available if they were unacceptable for beta testing.
9.Ensure Everything is Ready
Before the launch starts rolling out, everything needs to be ready. There should be enough inventory for the first protected wave of sales, the inventory has to be accessible, and you need to know how long it will take to get restocked.
The shipping process needs to be in order. Your sales and customer care service and tech support should have training on new products, how they work, why it benefits customers, and how products get used.
As a dropshipper ensure that the supplier can deliver a big wave of orders, more so if you rely on the supplier to have enough quantity in stocks, you should keep the supplier in the know in terms of what is coming and how many orders you are expecting.
10. Start Running Launch Announcements
At least seven days prior, announce the release of the new product soon via social media and email.
As soon as the product launches, state that the product is limited, this is geared to leverage scarcity and work to spike sales early.
You can do this using emails, on social media and use Facebook Ads campaigns to generate more interest early on.
Let in the influencers early on, ask them to start talking about your product right from the launch so that people can start purchasing instantly.
11.Have An Official Launch Event
On product launch day, an official product event of sorts kicks things off right. There are various marvelous new product launch ideas to consider but not limited to the following;
- A website related to the product you are releasing.
- Short Facebook Lives demos of how to use the product
- Social contests that build social proof, capture lead info to generate interests and social buzz, giveaways of the new product as a critical token prize.
Most importantly is to ensure that you generate max interest while leveraging each platform to its fullest.
Product Launch Mistakes To Avoid
At the time of going through the product launch steps, it is vital to avoid some numerous common mistakes that are a threat to your campaign, and they include.’
Failure to define product launch ideas before starting.
Early concepts testing and strategy development need to be early.it is so important that you will not stumble upon if you have no clue where you are going.
To neglect a proper soft launch.
Beta tests and soft launches provide the early momentum needed for the full start, and of course, it gives actionable feedback.
No backup plan.
There are times in which even the best of strategies slide-sideways.
You have got a backup plan at the different stages, if not all, the steps of the process so that you can trudge on even if it goes unexpected.
Lacking a USP
Most new products lack original marketing ideas and USPs, and boy; it is a mammoth task to pull folks away from their established brands if they can not promise and deliver something new and great.
New product launches can be high-octane stress, albeit a massive chunk of new products coming to the market struggling ever really take off, new products is something worth investing time and money. A strong product launch can ride on the momentum. You can check out 9 Shopify Tips Dropshipping Store Owners Must Read
Product launches tend at times to throw surprises your way, and therefore you need to apply what you learn during the process and adapt.
Swiftness is a vital skill-set in successful launches, with a focus on sustaining best connect you with your target audience, you are probably on the right track.
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