New Product Marketing Strategy

Marketers have numerous tried and tested methods for developing successful new product marketing strategy, many of which include some kind of social media element. This means that a new product marketing strategy is now largely reliant on the Internet. Success always starts with a strategy, and for your new product, this is a necessity.

Internet marketing has become so vast that marketers need different strategies for marketing products through different online platform. A Pinterest strategy will not look like a Facebook strategy; therefore, it is important to determine what kinds of Internet marketing are most appropriate for your product. However, there are some general practices that should always be applied.

Finding Your Demographic

When developing your new product marketing strategy, start by compiling a list of the kinds of people who will be most interested in your product. Be as specific as possible. It might be helpful to take your description of your target market and identify real people on social networks who represent your target customer.

Generate a Buzz

Offering freebies is also a great way to generate a buzz about your product online. Ask people to share or Retweet a photo of your product for a chance to win one for free. Freebies and promotional offers can also help to brighten up your everyday press release to bloggers. Find a blog that has a niche that relates to your product and offer them free samples in exchange for writing a review of your product.
If there are celebrities or industry influencers that fit your target market, offer them freebies. If they like your product, chances are they’ll send a “Thank You” tweet or post that will drive loads of online traffic to your product’s social media accounts or website.

Use SEO

New product marketing strategy should also include Search Engine Optimization (SEO). Analyze your target audience and create a list of keywords they might use to search for similar products. If possible include SEO in your product description or any press releases you submit online. Implement SEO through developing a blog as a part of your product’s website. Your blog’s content determines the success of your SEO strategy. Chances are competitors are using the same words, so providing useful content for your target market is important.

Use blogging and other forms of social media to become an expert in your product’s industry. Use websites like MeetUp and Eventbrite to create powerful events surrounding your product and press releases to tell people about the events. Examples include gallery showings, tastings and fashion shows. Also, join or create LinkedIn groups where you can share information about your product on discussion boards. Sharing and linking back to your website through these social media outlets will also help to build your SEO profile.

Creating a new product marketing strategy is necessary for launching a new product in any market, online or in brick and mortar stores. While not every plan is successful, it is almost impossible to be successful without first developing a plan. A new product marketing strategy is key.