Strategies for Marketing a New Good or Service

It takes a lot of effort to develop a new product or service, and the job doesn’t end there—the other half of the task is advertising and releasing it! Even if you have the greatest new product or service available, if you don’t market it effectively, you risk losing money in the long run or missing out on chances.

The greatest strategies for launching a new product or service

There appear to be an infinite number of alternatives available to you when it comes to advertising a new product or service for your company. Determining where to begin and which marketing strategies will provide the greatest results may be challenging. In actuality, there are a variety of low-cost company promotion strategies, and which ones are most effective will depend on your target market, offers, and sector. Look over the strategies listed below to determine which ones might work best for your go-to-market plan.

Give devoted clients a sneak peek.

Because they are more likely to purchase your product and tell their networks about it, your devoted customers are an important source of product promotion. This might be an online tour, preview, or demo, or it could be a private pre-launch party held in person or virtually. Alternatively, it may even be a specific invitation to try it out and provide comments. These special offers are a terrific way to engage customers and show them how much you appreciate them. Engagement and loyalty are the cornerstones of every growth marketing plan that succeeds.

Employ a unique starting deal.

You may provide your new product or service as a part of an exclusive introductory offer instead of merely publicizing it. This agreement may be in the following formats:

reduced costs.

discounted package or bundle.

joint advertising with a firm that complements it.

coupon or voucher with every transaction.

Deal: Buy one, get one free.

If you are a part of a loyalty program, double the points.

Free reward with each recommendation.

Whatever your promotion, be sure to highlight the fact that it is temporary. Consumers with restricted purchasing power—due to time constraints or stock levels, for example—will have a stronger feeling of urgency to purchase.

Utilize a business profile on Google

If you have a Google Business account, you can use your profile to market your new product or service in a number of ways. First, via postings on Google Business.

Go to the Posts tab on your Google Business dashboard. You may then make a “What’s new” or “Offer” post from there.

It takes a lot of effort to develop a new product or service, and the job doesn’t end there—the other half of the task is advertising and releasing it! Even if you have the greatest new product or service available, if you don’t market it effectively, you risk losing money in the long run or missing out on chances.

This article will walk you through 12 successful methods to launch a new service or product, complete with step-by-step instructions and examples. Among them are:

first looks

introductory deals

promotions for Google Business

Giveaways and competitions

Email promotion

blog entries

Events (both in-person and virtual)

Improvements

Exchanges

Client testimonials

postings on social media

Facebook advertisements

So let us try it out.

The greatest strategies for launching a new product or service

There appear to be an infinite number of alternatives available to you when it comes to advertising a new product or service for your company. Determining where to begin and which marketing strategies will provide the greatest results may be challenging. In actuality, there are a variety of low-cost company promotion strategies, and which ones are most effective will depend on your target market, offers, and sector. Look over the 12 strategies listed below to see which ones would work best for your go-to-market plan.

1. Give devoted clients a sneak peek.

Because they are more likely to purchase your product and tell their networks about it, your devoted customers are an important source of product promotion. This might be an online tour, preview, or demo, or it could be a private pre-launch party held in person or virtually. Alternatively, it may even be a specific invitation to try it out and provide comments. These special offers are a terrific way to engage customers and show them how much you appreciate them. Engagement and loyalty are the cornerstones of every growth marketing plan that succeeds.

2. Employ a unique starting deal.

You may provide your new product or service as a part of an exclusive introductory offer instead of merely publicizing it. This agreement may be in the following formats:

reduced costs.

discounted package or bundle.

joint advertising with a firm that complements it.

coupon or voucher with every transaction.

Deal: Buy one, get one free.

If you are a part of a loyalty program, double the points.

Free reward with each recommendation.

Whatever your promotion, be sure to highlight the fact that it is temporary. Consumers with restricted purchasing power—due to time constraints or stock levels, for example—will have a stronger feeling of urgency to purchase.

3. Utilize a business profile on Google

If you have a Google Business account, you can use your profile to market your new product or service in a number of ways. First, via postings on Google Business.

how to market a good or service—check out my business article on Google

Go to the Posts tab on your Google Business dashboard. You may then make a “What’s new” or “Offer” post from there.

ways to advertise a good or service: click the “My Business Posts” page on Google

Consider writing a “What’s new” piece if you’re just launching the new good or service. Just keep in mind that you’ll need to repost as Google My Business updates expire after seven days. On the other side, because you can specify a date, a “Offer” article would be ideal if you were conducting a special introductory offer. To successfully market your company, add a photo and a call to action in your post, regardless of the style you choose.

Additionally, you can advertise your new offering by adding it as a new item to your Products/Services page and uploading images of it to your Business Profile using the Photos part of your GBP dashboard.

It takes a lot of effort to develop a new product or service, and the job doesn’t end there—the other half of the task is advertising and releasing it! Even if you have the greatest new product or service available, if you don’t market it effectively, you risk losing money in the long run or missing out on chances.

This article will walk you through 12 successful methods to launch a new service or product, complete with step-by-step instructions and examples. Among them are:

first looks

introductory deals

promotions for Google Business

Giveaways and competitions

Email promotion

blog entries

Events (both in-person and virtual)

Improvements

Exchanges

Client testimonials

postings on social media

Facebook advertisements

So let us try it out.

The greatest strategies for launching a new product or service

There appear to be an infinite number of alternatives available to you when it comes to advertising a new product or service for your company. Determining where to begin and which marketing strategies will provide the greatest results may be challenging. In actuality, there are a variety of low-cost company promotion strategies, and which ones are most effective will depend on your target market, offers, and sector. Look over the 12 strategies listed below to see which ones would work best for your go-to-market plan.

1. Give devoted clients a sneak peek.

Because they are more likely to purchase your product and tell their networks about it, your devoted customers are an important source of product promotion. This might be an online tour, preview, or demo, or it could be a private pre-launch party held in person or virtually. Alternatively, it may even be a specific invitation to try it out and provide comments. These special offers are a terrific way to engage customers and show them how much you appreciate them. Engagement and loyalty are the cornerstones of every growth marketing plan that succeeds.

2. Employ a unique starting deal.

You may provide your new product or service as a part of an exclusive introductory offer instead of merely publicizing it. This agreement may be in the following formats:

educed costs.

discounted package or bundle.

joint advertising with a firm that complements it.

coupon or voucher with every transaction.

Deal: Buy one, get one free.

If you are a part of a loyalty program, double the points.

Free reward with each recommendation.

Whatever your promotion, be sure to highlight the fact that it is temporary. Consumers with restricted purchasing power—due to time constraints or stock levels, for example—will have a stronger feeling of urgency to purchase.

3. Utilize a business profile on Google

If you have a Google Business account, you can use your profile to market your new product or service in a number of ways. First, via postings on Google Business.

how to market a good or service—check out my business article on Google

Go to the Posts tab on your Google Business dashboard. You may then make a “What’s new” or “Offer” post from there.

ways to advertise a good or service: click the “My Business Posts” page on Google

Consider writing a “What’s new” piece if you’re just launching the new good or service. Just keep in mind that you’ll need to repost as Google My Business updates expire after seven days. On the other side, because you can specify a date, a “Offer” article would be ideal if you were conducting a special introductory offer. To successfully market your company, add a photo and a call to action in your post, regardless of the style you choose.

Additionally, you can advertise your new offering by adding it as a new item to your Products/Services page and uploading images of it to your Business Profile using the Photos part of your GBP dashboard.

ways to advertise a product or service: put goods on Google Listings

If appropriate, you may even wish to add some FAQs to your Google My Business account’s Q&A area on the new service or product.

To maximize the benefits of this promotional strategy:

Make use of the four areas (Posts, Photos, Products & Services, and Q&A) in your Google listing that were previously discussed.

Make sure the visibility of your Google listing is as high as possible.

Regarding picture sizes, see Google’s standards.

Organize a contest on social media

Social media competitions are an enjoyable and simple approach to interact with clients and attract new fans, followers, and potential clients for your company. Facebook competitions are a wonderful approach to counteract the poor organic reach of the site, since they bring in an average of 34% new consumers every campaign.

In terms of placement, the winner(s) of your contest on Facebook or Instagram need to have the chance to be the first to use your new product, receiving it for free or at a reduced price.

Make sure you promote the material on all of your marketing channels, not just the social media site where your primary campaign is being conducted. This applies to your website, email newsletters, other social media accounts, and even sponsored advertisements.

Increased interaction with your social media accounts will probably result in more traffic to your website, expose your company to new clients, and provide an enjoyable way to communicate with your audience in addition to creating more enthusiasm and sales for your new product.

Use email to spread the message

82% of customers read emails from companies, and 76% of email subscribers have bought anything after receiving an email marketing message. Email marketing is an excellent way to spread the news about your new offering. Furthermore, it serves as a fantastic incentive to initially attract subscriber signups.

You could even send a sequence of emails leading up to the launch day as part of an email campaign dedicated to this new item. Alternatively, you could want to make it the main topic of your next email newsletter. This email may be sent to all of your subscribers or, in keeping with technique #2, it may include an offer that is only available to customers or subscribers.

A few pointers for email promotion:

Pay greater attention to the new product’s benefits and overall worth than its characteristics.

Emphasize the deal in the subject line.

To boost open rates even higher, use preheader text.

Get more assistance in launching your new product using this tried-and-true advertising avenue.

Compose a blog entry.

It is possible that you do not have a landing page that subscribers or buyers may visit while you are marketing your new offering. In the end, your new product can only be an enhancement for an already-used platform or account. In this scenario, your objective can be to re-engage inactive consumers or make your current clientele more involved rather than acquiring new ones.

You may cover all of the specifics, features, and advantages of the just released product in more detail by writing a blog post about it. You can then distribute the blog post link via your emails and social media accounts.

A blog post is still a fantastic way to announce your new product even if you already have a landing page. It also gives you plenty of chances to link back to the landing page.

Organize a gathering

Events are a terrific method to win over new prospects as consumers by getting them to interact with you or other company personnel in person. They help excite clients about your new product or service.

Events don’t have to be elaborate and well-planned; salons, fitness centers, yoga studios, spas, and retail establishments might benefit from something as simple as an open house or information session. In order to attract even bigger audiences, your company and other nearby companies might collaborate to host an outdoor open house or sidewalk sale.

Even during a pandemic, virtual events may be a useful tool for advertising. You could:

Describe the features of the product and do a Facebook Live demonstration.

Do a live or pre-recorded Q&A session on the product.

With the promise to introduce the new offering at the conclusion, center the event on an influencer who has knowledge about your new product or service.

Provide a free upgrade

If your company, such as a salon, spa, fitness center, or consulting firm, focuses more on services than products, you may provide an upgrade to entice them to check out your newest offering. Is your spa promoting a new line of facials or massages? Give current clients a free (although maybe brief) update so they can experience it. Increasing the PPC services your agency offers? Include the new service in the packages of current customers at the previous rates. Another option would be to provide limited-time free delivery on your new goods.

Permit exchanges

Think about implementing a trade-in program if your new product is really an improvement over an older one. Because customers are more inclined to purchase a new product with a token or credit they already have (in this example, the thing they possess), trade-in promotions are successful. If the previous trade-in items are still in acceptable shape, you may either resell them or utilize them as future gifts.

Exchange client testimonials

Letting your clients do the talking for you is one of the finest methods to market your company overall and to introduce new products or services. You may then invite them to write an online review of the new service or provide content for a testimonial if you implement any of the previously suggested suggestions (such as providing an upgrade or free trial).

Testimonials and reviews are very helpful when introducing the product to a wider audience. Remember, 84% of shoppers place an equal amount of confidence in internet reviews and personal recommendations.

Share on social media

Make sure to share information about your offers and discounts on social media if you’re doing any of the above strategies to advertise your new product or service (like many of the businesses did in the aforementioned instances). This is a simple method to connect with your audience, and it’s easy for your followers to share your content on their own accounts. The ability for consumers and prospects to ask questions about the product in the comments area is an additional advantage. Your responses to their inquiries may function as a natural FAQ. A blog post or landing page with extra details may be linked from the post.

It takes a lot of effort to develop a new product or service, and the job doesn’t end there—the other half of the task is advertising and releasing it! Even if you have the greatest new product or service available, if you don’t market it effectively, you risk losing money in the long run or missing out on chances.

This article will walk you through 12 successful methods to launch a new service or product, complete with step-by-step instructions and examples. Among them are:

first looks

introductory deals

promotions for Google Business

Giveaways and competitions

Email promotion

blog entries

Events (both in-person and virtual)

Improvements

Exchanges

Client testimonials

postings on social media

Facebook advertisements

So let us try it out.

The greatest strategies for launching a new product or service

There appear to be an infinite number of alternatives available to you when it comes to advertising a new product or service for your company. Determining where to begin and which marketing strategies will provide the greatest results may be challenging. In actuality, there are a variety of low-cost company promotion strategies, and which ones are most effective will depend on your target market, offers, and sector. Look over the 12 strategies listed below to see which ones would work best for your go-to-market plan.

1. Give devoted clients a sneak peek.

Because they are more likely to purchase your product and tell their networks about it, your devoted customers are an important source of product promotion. This might be an online tour, preview, or demo, or it could be a private pre-launch party held in person or virtually. Alternatively, it may even be a specific invitation to try it out and provide comments. These special offers are a terrific way to engage customers and show them how much you appreciate them. Engagement and loyalty are the cornerstones of every growth marketing plan that succeeds.

2. Employ a unique starting deal.

You may provide your new product or service as a part of an exclusive introductory offer instead of merely publicizing it. This agreement may be in the following formats:

reduced costs.

discounted package or bundle.

joint advertising with a firm that complements it.

coupon or voucher with every transaction.

Deal: Buy one, get one free.

If you are a part of a loyalty program, double the points.

Free reward with each recommendation.

Whatever your promotion, be sure to highlight the fact that it is temporary. Consumers with restricted purchasing power—due to time constraints or stock levels, for example—will have a stronger feeling of urgency to purchase.

3. Utilize a business profile on Google

If you have a Google Business account, you can use your profile to market your new product or service in a number of ways. First, via postings on Google Business.

how to market a good or service—check out my business article on Google

Go to the Posts tab on your Google Business dashboard. You may then make a “What’s new” or “Offer” post from there.

ways to advertise a good or service: click the “My Business Posts” page on Google

Consider writing a “What’s new” piece if you’re just launching the new good or service. Just keep in mind that you’ll need to repost as Google My Business updates expire after seven days. On the other side, because you can specify a date, a “Offer” article would be ideal if you were conducting a special introductory offer. To successfully market your company, add a photo and a call to action in your post, regardless of the style you choose.

Additionally, you can advertise your new offering by adding it as a new item to your Products/Services page and uploading images of it to your Business Profile using the Photos part of your GBP dashboard.

ways to advertise a product or service: put goods on Google Listings

If appropriate, you may even wish to add some FAQs to your Google My Business account’s Q&A area on the new service or product.

To maximize the benefits of this promotional strategy:

Make use of the four areas (Posts, Photos, Products & Services, and Q&A) in your Google listing that were previously discussed.

Make sure the visibility of your Google listing is as high as possible.

Regarding picture sizes, see Google’s standards.

How to advertise a good or service: update Google My Business with images

4. Organize a contest on social media

Social media competitions are an enjoyable and simple approach to interact with clients and attract new fans, followers, and potential clients for your company. Facebook competitions are a wonderful approach to counteract the poor organic reach of the site, since they bring in an average of 34% new consumers every campaign.

In terms of placement, the winner(s) of your contest on Facebook or Instagram need to have the chance to be the first to use your new product, receiving it for free or at a reduced price.

Facebook giveaways as a means of product or service promotion

Image origin

Make sure you promote the material on all of your marketing channels, not just the social media site where your primary campaign is being conducted. This applies to your website, email newsletters, other social media accounts, and even sponsored advertisements.

Increased interaction with your social media accounts will probably result in more traffic to your website, expose your company to new clients, and provide an enjoyable way to communicate with your audience in addition to creating more enthusiasm and sales for your new product.

Instagram giveaways as a means of product or service promotion

RELATED: 11 Outstanding Examples of Product Marketing with Takeaways

5. Use email to spread the message

82% of customers read emails from companies, and 76% of email subscribers have bought anything after receiving an email marketing message. Email marketing is an excellent way to spread the news about your new offering. Furthermore, it serves as a fantastic incentive to initially attract subscriber signups.

methods to advertise a good or service: sign up for email subscribers

You could even send a sequence of emails leading up to the launch day as part of an email campaign dedicated to this new item. Alternatively, you could want to make it the main topic of your next email newsletter. This email may be sent to all of your subscribers or, in keeping with technique #2, it may include an offer that is only available to customers or subscribers.

email announcements as a means of product or service promotion

A few pointers for email promotion:

Pay greater attention to the new product’s benefits and overall worth than its characteristics.

Emphasize the deal in the subject line.

To boost open rates even higher, use preheader text.

Visit our article, How to Write Promotional Emails (With Examples), for more assistance in introducing your new product using this tried-and-true marketing avenue.

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Compose a blog entry

It is possible that you do not have a landing page that subscribers or buyers may visit while you are marketing your new offering. In the end, your new product can only be an enhancement for an already-used platform or account. In this scenario, your objective can be to re-engage inactive consumers or make your current clientele more involved rather than acquiring new ones.

You may cover all of the specifics, features, and advantages of the just released product in more detail by writing a blog post about it. You can then distribute the blog post link via your emails and social media accounts.

How to advertise a product or service: announcing a blog post

Emma’s blog post on the launch of a new product is an example.

A blog post is still a fantastic way to announce your new product even if you already have a landing page. It also gives you plenty of chances to link back to the landing page.

Organize a gathering

Events are a terrific method to win over new prospects as consumers by getting them to interact with you or other company personnel in person. They help excite clients about your new product or service.

How to market a good or service: invite people to an event on Instagram

Events don’t have to be elaborate and well-planned; salons, fitness centers, yoga studios, spas, and retail stores can benefit from something as basic as an open house or information session. If your company is located near other local businesses, you can collaborate to host an outdoor open house or sidewalk sale to attract even more customers.

Even during a pandemic, virtual events may be a useful tool for advertising. You could:

Describe the features of the product and do a Facebook Live demonstration.

Do a live or pre-recorded Q&A session on the product

With the promise to introduce the new offering at the conclusion, center the event on an influencer who has knowledge about your new product or service.

how to market a product or service: invite guests to a virtual event

A virtual, customer-only training session for the latest Salesforce version

Provide a free upgrade

If your company, such as a salon, spa, fitness center, or consulting firm, focuses more on services than products, you may provide an upgrade to entice them to check out your newest offering. Is your spa promoting a new line of facials or massages? Give current clients a free (although maybe brief) update so they can experience it. Increasing the PPC services your agency offers? Include the new service in the packages of current customers at the previous rates. Another option would be to provide limited-time free delivery on your new goods. ways to advertise a good or service: provide free shipping

Permit exchanges

Think about implementing a trade-in program if your new product is really an improvement over an older one. Because customers are more inclined to purchase a new product with a token or credit they already have (in this example, the thing they possess), trade-in promotions are successful. If the previous trade-in items are still in acceptable shape, you may either resell them or utilize them as future gifts.

Exchange client testimonials

Letting your clients do the talking for you is one of the finest methods to market your company overall and to introduce new products or services. You may then invite them to write an online review of the new service or provide content for a testimonial if you implement any of the previously suggested suggestions (such as providing an upgrade or free trial).

How to advertise a good or service: look for testimonials

Image origin

Testimonials and reviews are very helpful when introducing the product to a wider audience. Remember, 84% of shoppers place an equal amount of confidence in internet reviews and personal recommendations.

sharing reviews is a good way to advertise a good or service.

Share on social media

Make sure to share information about your offers and discounts on social media if you’re doing any of the above strategies to advertise your new product or service (like many of the businesses did in the aforementioned instances). This is a simple method to connect with your audience, and it’s easy for your followers to share your content on their own accounts. The ability for consumers and prospects to ask questions about the product in the comments area is an additional advantage. Your responses to their inquiries may function as a natural FAQ. A blog post or landing page with extra details may be linked from the post.

social media posts as a means of product or service promotion

You could also choose to include a unique hashtag in your marketing post if you have a devoted following or a specialized target. This will increase the reach of your ads and maybe encourage users to use the personalized hashtag when posting images and posts to their accounts. You already know what it implies: material created by users that you may use to encourage more individuals to test out your new offering!

Run advertisements on Facebook

Facebook advertising offers access to a wide audience of individuals who may be interested in your new product or service, given its 1 billion daily active users. Facebook advertisements are especially helpful since they allow for very precise audience targeting because to the freely given individualized data from users’ profiles. To make sure you receive the most value for your money, you may take into account factors like gender, age, location, hobbies, marital status, job, and more. You may also fit your objectives inside your budget by choosing from a variety of choices for the ad kind, budget, and campaign time.

What are the greatest methods to advertise your new good or service?

The optimal strategy for launching a new product or service will rely on the online habits and preferred channels of your target market. Nevertheless, you had to cross-promote and leverage a variety of methods. You may anticipate higher levels of interaction as your audience becomes more familiar with your message and it becomes more unified and consistent. To achieve the desired outcomes from your next software update, product launch, or new service offering, give the aforementioned tactics a try.