How do you choose a promotion strategy for a new product?

When choosing a promotion strategy for a new product, several factors come into play. Start by understanding your target audience and market, conducting thorough market research to identify their preferences and behavior. Set clear objectives for the promotion, such as increasing brand awareness, driving sales, or educating consumers. Consider the product's unique selling points and competitive advantages to craft compelling messaging. Evaluate various promotional channels, including digital marketing, social media, influencer partnerships, traditional advertising, and public relations, based on your target audience's habits and preferences. Budget constraints, timeline, and available resources should also be considered.

The best time to start a promotion strategy is before you have a product. I understand that might sound counterintuitive but allow me to explain (and why timing should be your main goal). Of course, you don't want to create false advertisements or promotions, so with that out of the way, here is how you structure your marketing goals for a new product's promotional campaign. The market leverage lies in consumers' hands, not manufacturers and to this day few marketers realize this - if you have customers, you will easily find a manufacturer. 1/ Test demand -> before building awareness. 2/ Validate demand with a minimum viable audience (10/100/1000 users depending on your project's scale) 3/ Only than continue with the obvious paths

Rather that starting by asking yourself what you aim to get from this product (loyalty, revenue, …), start by being super clear how what problem that product solves for your customer. For instance, if you sell a course on copywriting, are you helping people get from zero to one, meaning just getting started, or are you helping them improve in more advanced techniques (AIDA, FAB, ..) If you sell clothes, is this product designed helping ensure people can afford something to wear, or is it designed to help them communicate about who they are ? If you get crystal-clear on the problem you are solving, designing a promotional strategy will flow very easily.

From a creative pov: 1/ establish a realistic budget first and lock it in. This will eliminate marketing tools and media that's simply too expensive. 2/ establish the top 10% of your immediate audience. Even in a case where the answer is: "everyone is my audience," choose the golden 10%. 3/ strategize around that audience, their cultural specs, and location. 4/ now look at the best possible media approach. 5/ grab your killer creative idea and publish away.

A great way to set your goals is always putting in consideration that those goals follow the SMART rule (Specific, Measurable, Achievable, Realistic and Time-framed). By applying those measures, you can easily set up your goals, and most important, assess their progress.

The best 2 ways to know your audience are without doing any research whatsoever. How?! Simple. Either you choose to market to your past self (solving your own problems) or choose a domain you are well familiar with (spent at least 5-10 years). Because to know your audience well means to understand the language they use, and the specific nuances that drive their behavior. Yes, demographics still matter - that's informing your marketing WHO buys from you. However, psychographics matter way more than that because they answer WHY people buy from you. And until you get that last piece answered, you won't scale much because you won't be able to connect deeply with the people you aim to serve.

Adding to the points mentioned above, I’d like to include additional factors that consistently push our results beyond our campaign targets: - Read comments on common topics and content to have a better understanding of your target audience’s ideas and feedback - Staying updated on trends, economic, and political landscapes in their region -Beyond creating needs, storytelling adds a potent layer -Emotional engagement is the key—keeping your audience not just interested but loyal

Never start any communication without knowing who the audience is then: when and where to meet them at the optimum time to deliver your message.

These are great steps - understanding their needs, preferences and behaviors. Build on this by ensuring your product or service solves their emotional needs and functional needs. Moreover, let them know why your product or service is better than any other option out there, including them choosing to do nothing or to solve it themselves. Strive to be consistently surprising and surprisingly consistent. Then you have a chance of not only solving their problem but also delighting them, which will motivate them to tell the world about their experience and just how great your brand is.

If you take the market research techniques that leading content writers like Lashay Lewis are using right now, there is a big push to have marketing, sales, and customer success collaborate to perfect messaging. For a new product, this may seem trickier. You'll have to have a sales process that is feedback-oriented so you can learn as they prospect. In place of talking to customer success, you can focus on the 'job-to-be-done' searches that would lead a customer to your product. Read articles, and study alternative solutions for those searches to learn more about your customer at the pre-convert stage.

To ensure a successful product launch, choose the most suitable promotional channels for your target audience, such as online advertising, social media, PR or email marketing. Create a well-structured plan with specific objectives, targets, and timelines for each channel. Track your marketing results using tools like Google Analytics to make informed decisions about future campaigns. With thorough planning and assertive execution, your product launch can be a resounding success

The digital landscape is constantly evolving but users don't like to move as often as marketers do. Study generational preferences (that's why new social platforms will continue to rise). However, don't go too broad too soon. Thus invest heavily in one social platform, email, and forming strategic partnerships as a beginning before moving to a multiplatform marketing strategy.

Are you the same person at the nightclub on Friday night as you are on Sunday at church? Your customers are no different! Different channels and platforms call for different strategies and approaches. Modify your messaging accordingly!

One thing I would like to add here is to choose few channels. All channels will not be equally impact for you (your brand or startup) and trying to be on every channel is going to spread your team and their efforts too thin. Resist the temptation (and exhortations by others who see this competitor doing this on a channel and another competitor doing something else on another channel) to go on those channels and do something just for the sake of it.

All channels are important, but the most overlooked nowadays is putting the product in front of people. For some products this is more important than others but good old-fashioned event marketing and touching people is more valuable now than ever in the world of online and digital promotions.

Your message must always resonate across diverse cultural and linguistic landscapes. Craft a message that succinctly communicates what sets your product apart and why it's superior to alternatives. Highlight how it solves customers' problems or fulfills their needs, emphasizing key benefits and features. Effective communication demands clear, concise, and compelling language that appeals to both emotions and logic. Incorporate storytelling, testimonials, and social proof to vividly illustrate your message, creating a connection with your audience. This approach helps bridge cultural gaps and establishes a universal appeal for the product.

In your product promotion, spotlight its distinctive attributes. Be it tackling uncharted issues or presenting inventive solutions, vividly illustrate how it fulfills distinct needs. A unique product acts as a magnetic force, diverging from the ordinary and gripping attention effortlessly. Harmonizing emotional appeal with logical reasoning is of utmost importance. Drawing from my own encounters, an exceptional product piques curiosity, carving its own niche. Evident in my recent venture, it effectively addressed an underestimated problem through a customized remedy, consequently inciting fervent adoption.

One of the problems that leads many small business messaging to fail is not being consistent and sticking to the same points. When a business is in the growing stages, it must have a straightforward message on what the product or service solves, which should constantly be repeated. 1. Craft a message 2. Ensure it's simple to understand 3. Stick to the same points in all your marketing materials 4. Get known for something

To effectively communicate your new product's value, emphasize its unique features and advantages over alternatives. Clearly articulate how it solves customer problems or meets their needs. Focus on concise, compelling language that appeals to both emotions and logic. Enhance your message with storytelling, testimonials, and social proof to build a relatable connection and demonstrate real-world efficacy. This approach fosters trust and interest in your product.

You need to make sure you know your audience well, talk directly to them, 𝗺𝗮𝗸𝗲 𝘁𝗵𝗲𝗺 𝗻𝗼𝘁𝗶𝗰𝗲 𝘆𝗼𝘂—like calling someone's name at a party—then offer the solution for this pain point. Crafting your message, or offer, is one of the most, if not the most, important steps of them all. Therefore, it must be given a lot of attention."

This is the biggest one. “No plan survives first contact with the enemy”. You MUST be willing to adjust fire, to the point of total deviation from the original plan, if data is telling you something actionable, and you MUST do that swiftly, nimbly, effectively.

Test headlines, then media, then body text, in this order. Make 𝗼𝗻𝗲 𝗔/𝗕 𝘁𝗲𝘀𝘁 𝗽𝗲𝗿 𝘄𝗲𝗲𝗸 to actually see the changes or results of your optimization.

Testing and optimizing isn't just the last step, but an ongoing commitment to perfecting your promotional approach. In today's dynamic market, what works today might not resonate tomorrow. Analytics tools serve as the compass, guiding decisions based on real-time feedback. But numbers only tell half the story. Experiments and surveys dive into the nuances, understanding why certain elements appeal while others don't. It's akin to sculpting, chipping away the ineffective, and enhancing what resonates. Every headline, image, or call-to-action becomes a hypothesis, ripe for validation or iteration. Adaptability, driven by insights, becomes the hallmark of a robust strategy.

Building, nurturing, and encouraging a 1% better mindset in the team is essential to be able to regularly optimize marketing strategies. One cannot expect to get things right in the first go, or even the second for that matter. It is therefore needed to make iterative improvements which are based on quantifiable observations and data insights of previous stages of executing the strategy. When designing A/B tests, it is important to only change one metric at a time so that it's impact can be measured and attributed correctly. Run smaller cycle tests if required before optimizing again and moving forward. This not only results in balancing out iterative improvements but also mitigates against larger failures.

Optimization has a limit as it is confined by the data is is allowed to look at. Like how much beer to drink before you get a buzz. Experimentation is about pushing the boundaries and trying new untested things outside of the realm of existing data

If you target to become a market boom 🎯, study well the marketing strategies of successful campaigns and big brands. Insights always foster innovation. Later, develop your own marketing concept, branding and message. Creating something original is always a winning strategy.

Some notable points to consider can be: Target Audience: Identify demographics and behaviors. Product Uniqueness: Emphasize unique features. Competitor Analysis: Learn from their strategies. Diverse Methods: Use social media, email, influencers, PR. Brand Alignment: Match strategy with brand identity. Engagement: Focus on captivating, distinct content.

Según mi experiencia, los algoritmos en los que se basa el posicionamiento de un producto en los marketplaces, está muy influenciado por el precio. Además, hay que tener en cuenta que la mayoría de buscadores permiten ordenar productos por precio. Si a esto le sumamos la ley de elasticidad de demanda frente a precio, en mi opinión el precio del producto se convierte en uno de los factores más determinantes a la hora de lanzar un producto nuevo. Dicho esto, un ejemplo de lanzamiento de producto se puede encontrar en las marcas blancas de amazon (ejemplo, Solimo), donde claramente se ve cómo los productos salen al mercado con precios muy agresivos y, a medida que aumentan su velocidad de venta, se va incrementando su precio y su margen.

Launching a product is just the beginning! Our goal should be the start of a long-lasting relationship with the customer. Three basic steps: 1) Promotion should be tailored based on your customer’s needs. 2) The promotion experiences should be much broader than the purchase. 3) Get feedback from your customers for continuous improvements. It is the chance to start a relationship that will stand the test of time and basic promotions schemes. Make your customer buy your product and join an exciting journey with your brand! #CustomerFirst #ProductLaunch #LongTermRelationships"

You have to have a report-first mindset. Before you launch, do you have a dashboard to capture how the campaign will perform? If not, get it set up!