What You Should Know About New Product Marketing

The word "new" is magical.

Everyone wants the latest and the greatest.

Which means that new product marketing can take advantage of this basic fact of human nature.

And done well, this inherent advantage makes marketing a new product one of the easiest types of marketing to do for your business. Provided, of course, that you follow a few basic rules...

Trade off on the word "NEW"

If your product truly is new, announce this from the rafters.

Let everyone know about your exciting new product by sending out press releases to create buzz. Editors and bloggers are ALWAYS interested in what's new.

The caveat here is the product must be truly new.

In other words, it can't simply be a re-branding of something you've been offering for years because people get turned off (real quickly) when they think you're trying to fool them.

The key?

Make sure it's not so similar to your other products (think about iPhones for a second, how are the recent turn-outs different from previous versions?) that the distinctions are blurry.

Create a "wow" promotional campaign

Get behind your new product with an integrated marketing campaign that makes each individual in your target market feel like you are speaking to him or her.

The key here is targeting.

And developing an original concept that will grab the attention of your existing customer.

Find a unique way to position your new product that will make people salivate. Then create an irresistible offer that your prospects just can't turn down.

Build brand recognition first

When certain companies come out with a new product (think Apple) everyone is anxious to find out what it is. In the case of Apple, as you know, folks will wait on line for hours to be among the first to get their hands on whatever sexy, new gadget Apple rolls out.

Such is the power of new when you are dealing with well-known brands.

But if you are a small shop that just invented a new widget, it will be a lot harder to cut through the clutter and get noticed.

So take steps to build your brand first. That means developing a standout logo and pairing it with a tagline to boost brand recognition.

Use a distinctive "voice" on your website to give your company a brand personality. Stay away from corporate speak and sounding bland. Make sure your website copy fits who you are and is not interchangeable with your competitors'.

Does that make sense to you?

Come up with a marketing plan

Sometimes, telling your audience about the benefits of your product may not be enough.

You need to develop a plan to get your product (or product notices) in front of your target audience... and to do it in a way that is budget-friendly. After all, without prospective customers you don't have a business.

Finally, whether you already have a new product to promote, or you're wrapping up the final stages for getting it ready, it makes good business sense to come up with a well thought out marketing plan.

This includes channels for your marketing communication:

    direct response marketing
    email marketing
    search engine marketing (pay per click)
    catalog marketing
    etc.

You get the idea.

Don't overlook your existing customers as well. In fact, you may want to begin your campaign here, since your customers can provide you with valuable feedback that you can incorporate when marketing to new customers.