How Does Media Shark Plan for a Product Launch?
Almost 75% of product launches fall short of projected profits. Some even fail. There are numerous reasons a product launch fails, but there’s a good way to ensure it doesn’t. Find out how Media Shark can help you skyrocket your next product launch!g
Working with a product launch plan, your business’s next campaign can succeed. Media Shark’s digital expertise allows us to craft the perfect launch plan. Read this guide to learn how we use our advertising talents for successful product launches.
Common Pitfalls With New Product Launches
Crafting a strong product launch plan requires foresight and skill. Many digital marketers might not understand how to launch a product. Usually, product launches are part of public relations, which is separate from advertising skills.
Media Shark doesn’t have this problem. We understand the ins and outs of product launches enough to help you avoid common launch campaign issues. Before you can understand our product launch formula, you need to know how we’ll keep you out of choppy water.
Many smaller businesses don’t anticipate rapid growth for product launches. Instead, they keep business financial projections limited to realistic and worst-case scenarios. Many business owners are wary of becoming overly optimistic about any product doing better than expected.
Not planning for rapid growth leaves your company in the lurch. Your product launch campaign should plan for each case: best, worst, and typical. Not anticipating a high demand for your product can leave distribution and operations workflows defunct.
On the other hand, we want you to avoid getting too excited before the product launches. Business owners heavily invested in their campaigns, often overshare and overpromise in their excitement. To help you avoid any bad reviews or product bashing, there are a few solutions.
You can explore delaying a product launch. Although not ideal, if marketed correctly, Media Shark can build consumer interest. You can also find better ways to advertise your product when it launches using custom reporting on prelaunch advertising.
Making the Difference
Sometimes, product launches fail because the branding makes it look like something else readily available. Consumers won’t purchase goods that already serve one of their needs. Making the difference means understanding what makes your product better than a competitor’s.
Companies can fail to explain how their new product compares to existing products even when using market research. Unless your product launch plan is for your first-ever product, you can’t ignore your other goods. Instead, contrast your new product by advertising what makes it better and worth a customer’s money.
Too Much Information
When trying to meet pain points in unique ways, products can’t be so unique that they’re unrecognizable. When advertising a new product, it’s important to use the right branding. Even if the product launched serves a new function, recognition is critical.
If customers don’t understand the product, they won’t buy it. And they won’t buy a product that requires too much education, either. Unless you serve a complicated product clearly and concisely, consumers may turn away.
Missing the Mark(et)
Sometimes, product launches fail when they serve the wrong market. When business owners don’t do their research, the launch falls short of expectations. Or, maybe it’s simply the digital advertising used to target audiences.
At Media Shark, we understand the necessity of accurate targeting. Our product launch formula uses custom behavior reporting to ensure you reach the right consumers. Now that you know common product launch pitfalls, you’re ready for a reliable formula.
A Reliable Product Launch Formula
Launching new products is not about reactivity but proactivity. It requires thinking ahead, doing research, and strategizing. No matter where you are in your business journey, every campaign requires preparation.
Below is the Media Shark formula for your new product launch. This plan can help whether this is your first product or an expansion of a rich product line.
When prepping for a new product launch, you need a strategy. This strategy integrates digital marketing and advertising strategies. When crafting a strategy for any product, you must consider a few factors:
- Ethos: evokes an emotional response to grow perceived authenticity
- Social good: how your product serves the world or a community
- Audience motivation: what your target consumer cares about
Your advertising campaigns should focus on these three factors, which should tie back your business’s mission, vision, and values. Different strategy types exist for producing content for your product launch.
When planning content, consider the different funnels for advertising. These funnels work with several different ad types, too. They also determine the outreach step of your
- Paid ads: direct to pre-sell pages, order forms, and confirmation
- Organic content: any content to popups, sales page, order form, and confirmation
- Social media: posts on social platforms, sales page, order forms, and confirmation
- Email: email to sales or pre-sell page, order form, and confirmation
These funnels can inform your outreach efforts in the following step of your product launch plan. How you choose to reach out depends on your campaign timeline and industry.
If you can go full stop on any advertising funnel, your new product launch will experience more success. Finding unique ways to disperse content, both pre and post-launch, increases the chances of its success. Working with Media Shark’s guidance, you can explore several solutions.
- Offer exclusivity: retain loyalty with a private pre-launch party, including demo, tour, or preview of a prototype
- Special offers: discounts, reduced rates, joint promotions, vouchers, BOGO deals, point rewards, referral gifts
- Google My Business: create “Offer” posts through the dashboard
- Social media: contests or affiliate promotion to generate hype
- Email marketing: highlights offers and ultimate value
- Event hosting: explore virtual or in-person events (live or recorded)
- Trade-ins: incentivize new product purchase (if it upgrades a previous version)
- Customer reviews: request feedback, reviews, and testimonials for free marketing material
These methods of outreach overlap with some advertising funnels. Other modes stand-alone, working best with display, video, or audio advertising. Determining the best types of ads for your outreach is just one part of how to launch a product.
3. Major Media
Although it’s vital to market your own product launch, it’s important to consider other platforms, too. Although you want consumer recognition, you might also plan to garner more attention with a new product launch. The best way to cut through overstuffed social media and email inboxes is via major media.
Now, even as a small business, you can afford marketing your new product with major media. Media Shark is all about creativity and finding new ways to get the meatiest media bites. Instead of focusing on purchasing ad space, consider:
- Write a press release for media attention
- Approach topic-relevant journalists for coverage
- Answer media queries about your product
- Sponsor an event for media
- Offer your industry experience
- Connect with today’s digital journalists: bloggers
Once you’ve got the attention of any major media outlet, pitch yourself. Explain why your product deserves a segment on their network. If you land a spot, you just secured free ad space.
4. Superfans and Brand Ambassadors
Do you know who really loves your brand? If you can’t answer this, that’s okay. But it would help if you absolutely had a community to generate interest online.
The more people sharing about your business, the better your visibility. Consistent branding helps with recognition, but that doesn’t help gain new followers. You likely have loyal customers waiting in the wings, ready to show how much they love your business.
When turning your regular fans into superfans, you try a few tactics. It takes a longer time, though, which is why a long-term strategy is so critical. Build superfans by:
- Use conventions or conferences to build community
- Create smaller social groups to connect
- Explore exclusive groups for event invitations
If you’ve tried connecting current loyal customers and find it fails, don’t give up. Maybe you started too late, or you have the wrong voice for selling your own brand. As frustrating as that may feel, affiliate marketers do this for a living.
Brand ambassadors can represent your brand for you. Whether you don’t want your own image connected to a product or want broader engagement, consider using influencers. You may even find industry-specific ambassadors with an existing, untapped community.
5. Pre-Launch Videos
Your product launch plan should include pre and post-launch content. When generating outreach content, pre-launch videos are effective. Video marketing with Media Shark can set you on the right path.
15 to 60-second video clips work for simpler products or fast, entertaining pieces of information. Longer clips with runtimes of five to 15-minutes work best for pre-launch efforts. They can demo your prototype, educating consumers about the new product launch.
Content like pre-launch videos works well to drive leads. Using special incentives, you can capture contact information for interested consumers. Industry influencers can generate reaction videos for a pre-launch campaign, too.
Exploring an endorsement campaign through influencers builds the interest you need. If you want to connect with new niches or want new video content, influencers can help. Make sure to vet your influencers through a reliable hiring platform.
Including the latest tech trends in your product launch formula might seem like a given. Or, it might not. That’s why Media Shark is here to support your digital advertising efforts.
Using tech doesn’t have to be scary. In fact, it mostly means knowing the right “hacks” to get the most out of a platform. The kind of tech used for your new product launch could include webinars.
These are useful for exclusive events. They can create organic interaction without focusing solely on your product. When you make your branding about people (i.e., what they care about), your product should naturally come into the conversation.
Other kinds of tech used to market a product include PPC advertising, automation, and more. Working with us gives you digital marketing support you need to launch your new product.
How Strong Digital Marketing Launches New Products
Custom reporting on key demographics gives you important information about who you need to target. Different types of digital advertising influence different consumers. The more direct your ad engagement, the more ads for your new products convert.
Custom reporting applies to more than ads, too. Media Shark reports on data points for device use, audiences, ad placement, location, and more. Using this data, you can make the most of any advertising type for your product launch plan.
Our display ads use the latest behavior tracking to generate engaging content. Considering target markets’ interests and intent generates relevant topics of new interaction.
Instead of general images related to your brand or industry, targeted images hit the mark. They take a bite out of the right segments, ensuring more than a mouthful of chum. Your pre and post-launch content will hit the right niches with our targeted strategies.
If you want stunning, powerful content with a strong bite, you need video ads. We optimize high-quality videos for every viewing scale (i.e., mobile or not). Your customers will see the sharpest-defined images of your new products.
Our videos work well to educate your customers about new products with pre-launch content. We’re also equipped for shorter, snappier videos to bait your prey. We believe in shark bait, not clickbait.
Our audio advertising works well for multichannel marketing efforts. Depending on your industry and any influencers you work with, it can help launch your new product on audio streaming platforms.
Whether it’s a thinkpiece podcast or simply an ad on popular shows, your content deserves air time. You can expand your reach this way while building on other pre-launch campaign strategies.
Working With Media Shark to Launch Your New Product(s)
At this point, you’re likely ready to start exploring options for launching a new product. Media Shark is ready to work with you. We’re ready to determine your specific digital advertising needs to make your products profitable.
Contact us today for a free marketing strategy session. We’ll help you take the first bite out of that new launch campaign.