5 Effective Ways To Increase Sales Of A New Product!
New products need to jump into the limelight successfully to increase your sales and boost revenue. But how exactly do you get this competitive edge? In most cases, marketing activities are carried out, with the purpose of increasing awareness about the product and introducing it to potential customers. Utilising both marketing strategies and having a killer product plan in place will help you get the competitive advantage over similar products on the market.
There is typically no more pressure on a product than at launch. The stakes are high and the goals are clear – go big or go home. For every new product that is launched, developing a marketing strategy to boost sales should always be a top priority, due to the increased risk of failure from new competitive entrants, consumer behaviour and purchase trends.
Here Are 4 Ways You Can Sell A Product Or Service Effectively
64% of small businesses are using email marketing to reach both new and existing customers. This form of distribution is the perfect sales process to drive more visitors to your website and have customers buy your product. Most importantly, you can reach long term customers who have already bought from your brand. It is vital to reach these individuals as they have already built a connection and trust with your business from previous purchases.
But why exactly is this marketing technique so successful? The great thing about email marketing is the ability to reach hundreds or thousands of recipients at once, whilst having the option to personalise every single email. 60% of retail, e-commerce, and consumer goods and services companies are personalizing emails based on past purchases, versus 38% in 2019. In short, people love to feel as though they have a real connection to a brand: Content specifically directed to their desires is much more likely to end with a transaction.
Sales and marketing teams can use this method to drive more sales to a product by sending out an email including emotive copy and engaging imagery or video. By having your ideal customer in mind you can alter templates so that it communicates effectively and drives more sales quickly.
Social Media Marketing
In 2021, social media usage grew at an average rate of 13.5 new users every single second. People are accessing social media platforms not only daily, but repeatedly. Utilising your business page to post content on a new product is key to increase the number of sales on your new product.
A few ideas include imagery and video of your product in action, giveaways and competitions, and relevant topics surrounding your product. All of this can start brewing anticipation for your new product to hit the shelves, and excitement to sign up for any early launches. You can then have customer service or a sales team on hand to interact with engaged users in the comments.
Now, this doesn’t have to mean hiring out an expensive venue and having a huge events team in place. This can simply be virtual, even as an Instagram or Facebook Live, where you may answer questions people have on the product to reduce barriers in the purchasing process.
You can use social media posts to gather questions or simply engage with users as they view and mention topics. Video can also be used for you to show the product being used in a real-life situation and present its unique features that stand out over competitors. Offering content such as virtual events can show your followers that you value their input and can help to build powerful relationships with potential and current customers. Putting a face to the brand also helps those connections become more personal, giving you a competitive edge over other businesses by building loyal relationships.
Facebook & Google Ads
Using Google and Facebook ads allows you to bid on keywords that you are looking to target and have your product placed in front of your perfect customer. Google ads are key for where customers are searching exactly for your type of product and know what they want, therefore usually resulting in quick sales for your ecommerce brand. You can also optimise your site for SEO (search engine optimization) and increase your chances of ranking high in the Google SERP for relevant keywords.
Facebook ads are better for increasing brand awareness and driving visitors to your website. They can be set up for specific results, such as lead generation, store traffic, reach and engagement. You can create your own audiences making it highly customisable, along with clear budgets to keep finances in line and results so that you can calculate your ROI.
Are You Ready To Launch & Scale Your Product?
To succeed, e-commerce companies should craft a well-thought-out launch strategy and use marketing tactics that target niche groups. The key to a successful product launch is to have everything you need in place before the launch date. It will take a little groundwork, but it will be worth it once the product has launched and you can reap the benefits.
At Launch and Scale™, we help our customers get sales first through a pre-sell campaign, and then deliver the product. If you are ready to scale your brand and achieve a high return on investment, get in touch with me today and book a call. I work with entrepreneurs and product creators to bring their products to life and flourish across their sector.