A product launch is an exciting time. After a long period of market research and analysis, you’ve found a niche that a new product or service can fill perfectly. Now, all you have to do is tell your target audience about it.
Of course, that step is easier said than done. One study found that 70% of product launches fail in the first year. The reasons are numerous, but they often have to do with a lack of awareness and a convincing value proposition. No matter how great your product, it won’t succeed if your audience doesn’t know about it or you cannot convince them of its benefits.
The key to success in launching your product or service is effective marketing. A number of digital tactics can help you succeed, but they need the support of professional print pieces to maximize the impact and increase those chances of success.
Here are 5 promotional materials you need to launch your new product or service.
An Awareness-Generating Postcard
First things first: to become customers, your audience has to know about the new product or service. A postcard is the ideal way to solve that awareness challenge.
You won’t have much space to go into the details of what makes your product unique and useful. Instead, you can use the format to create an effective visual that makes your audience pay attention. Then, they’ll be primed for more specific information about your product or service down the road.
Postcards are especially beneficial if you have an existing mailing list or utilize services like Every Door Direct Mail (EDDM). The key to raising awareness is to reach as many potential customers as possible in that first promotional touch.
A Benefit-Focused Brochure
While a postcard can help you raise awareness about your new product/service, a brochure is your opportunity to go into detail about what makes it great. Here, you can describe exactly why your target audience could benefit from your new offering. Focus on the features, but don’t neglect mentioning the specific benefits your audience can get from these features.
Like postcards, brochures can be an effective direct mail vehicle. You can also use them for in-person promotions as handouts. This allows your audience to learn more about your product or service and helps them to remember you when they experience a need that your product can fulfill.
A Compelling In-Person Display
If your new product or service is designed for business customers, you may plan to attend trade shows in order to promote it. But when you do, you’ll be in the middle of countless other businesses trying to gain the attention of potential buyers. How can you stand out?
Pop-up banner displays are one compelling option. Use them to visually communicate the product or service itself, along with its benefits. Treat it like a super-sized postcard, aiming to get your audience’s attention. Once they stop by your booth, a graphically consistent brochure can enhance their understanding of your new offering.
Of course, even consumer-focused businesses can benefit from in-person displays. Advertising flags, for example, can help you get your audience’s attention, either while they’re in your store or driving by your location. If your signs make even a small impression on potential customers, you’ve won half the battle.
A Purchase-Inducing Giveaway
Interested members of your audience are not yet customers. But with promotional giveaways, you can entice them to take that final step and start adding to your bottom line.
The theory of reciprocity is a proven success model in marketing. If you give your audience something for free, they feel compelled to return the favor. Promotional giveaways, especially if they are targeted toward potential customers who have already expressed interest in your new product or service, can be the final piece that gets them to buy.
To accomplish that goal, you have a number of options. Magnets, for example, can do double duty as a gesture of goodwill and an extra opportunity to promote your new product. Similarly, promotional puzzles offer a fun activity for your audience while subtly promoting your brand.
A Personalized Letter To Existing Customers
Finally, if you are an existing business launching a new product or service, don’t forget about your current customers. They already know and trust you to deliver results, so they will be more likely to make the leap to a new product with you.
The easiest way to convince this audience segment is to show them that you care. They may respond to some of the above tactics, but they’ll be much more likely to engage with you if you openly show the value you place on their business.
One way to accomplish that feat is to send personalized letters on company letterhead, outlining both your appreciation and how your new product could benefit them. You can even send this type of letter before launching the product or service to the greater public, establishing a sense of exclusivity that increases your audience’s chances of converting.
The Key To Success In Launching A New Product Or Service
Individually, these printed materials can improve your chances of preventing product launch failure. But combine them into a single, effective campaign, and your chances of launching a new product or service increase drastically.
A single mailer or promotional product may not be enough to convince your audience to purchase a product or service that’s new to them. But if they receive a postcard, followed by a brochure, and then receive a giveaway, they will be much more likely to give you their business.
Launching a new product or service is a complex endeavor. You not only have to make sure that the actual market need exists, but you also need to communicate effectively just how you can solve that need. Through promotional materials, like those discussed above, you can accomplish just that. And if you approach the concept strategically, the whole will become greater than the sum of its parts, maximizing your chances of a successful product launch.