By Estela Viñarás, on 24 August 2018
Launching a new product into the market can be the beginning of a wonderful friendship… or a total fiasco. It is a key moment that needs all the care and attention it can get.
The term “growth hacking” has become quite a buzzword over the past few years, referring to non-traditional digital marketing strategies to ensure rapid growth. Many startups use these types of techniques to guarantee a quick penetration in the market, but growth hacking can be just as useful to companies of any size and experience.
Today, we would like to share with you 10 marketing strategies based on growth hacking to shoot your new product straight to the stars.
10 marketing strategies to launch your product
1# Organize a pre-launch giveaway
For a product to take off quickly, you need to create a feeling of expectation and excitement for its release, starting weeks or even months in advance.
One of the most popular techniques to do this is through pre-launch giveaways and contests. Give your product away to an exclusive group of lucky participants, in exchange for them helping getting the word out. There are a variety of options: photography contests, awards for the most creative ideas, giveaways, etc.
Whatever option you choose, try find a systems that makes it as viral as possible, by, for example, making users have to share their participation on their social media. Be creative in your messages to make sure people don’t see it as spam and offer extra points for bringing in friends.
2# Increase your organic visibility
Or in other words, get your SEO on point.
Having a well positioned website on search engines gives you a “base” of traffic to communicate your new products to, which makes things much easier than having to start from square one.
For your search engine optimization to work, you need to give users information that will truly be useful to them. Focus especially on optimizing three areas:
- Keywords. Don’t think about what you would call or how you would describe your product, but rather how a new user would search for it.
- Meta Descriptions. Users see meta descriptions as the summary of your website on search engines, so it would be short and attractive. But beware! Google sometimes ignores this description and shows the first lines of text on your page, so make sure they are up to scratch too.
- The first paragraphs of text. The goal is to make sure the knows what your product is in the least amount of reading time possible.
3# Create shareable content
Consistently creating content is one of the most reliable digital marketing strategies, especially in the medium to long run.
Invest time in creating a high quality blog that talks about your business or related topics that consumers will be interested in reading. The goal is to get the users themselves to share your content, bringing traffic to your website on a regular basis.
4# Take a chance with remarketing.
An intelligent marketing strategy recognizes that it’s not just about blindly impacting users, but rather guiding them through the conversion funnel.
Consumers are in different moments of the purchasing process, and they might not be ready to purchase from you the first time they hear about your existence. This is no reason to abandon them, however. Try and get them to give you their contact information and be sure to nurture your relationship with them.
In the same sense, be sure not to forget about your regulars. Keep in touch with your more dedicated customers (through a newsletter, for example) and, of course, don’t forget to tell them about your launch.
5# Create a recommendation system
Word of mouth continues to be an incredibly effective way to get a product out there. Users naturally talk to their friends about the products they use and recommend. But you can also give them a little push to get the wheels turning. How? By creating an incentive system for recommendations.
Everyone likes getting “freebies”, so all you have to do is offer a discount coupon or free shipping in exchange for telling their friends.
6# Optimize your website speed
A trick as simple as it is effective: make sure your website works at the speed of light.
There is nothing more frustrating than a website that takes ages to load. A quick and fluid website, on the other hand, improves user experience and brand perception.
There are several things you can do to improve your website's loading times, so be sure to talk to an expert. In the meantime, a quick fix: make sure you images are of high enough quality to view neatly and clearly on a desktop computer, but not more.
7# Establish relationships with bloggers
Influencers are the new kings and queens of digital marketing strategies. As experts in a given area or sector, they tend to have a loyal audience waiting and willing to follow their recommendations, which you can make the most of to get the word about your product out there.
In order to get bloggers and influencers talking about your brand, the most common strategies are to organize events and to send free samples. Be sure to keep in mind however that you can’t “buy” their opinion or recommendation, as they have to be loyal to their audience as well and be honest about what they think. In order to avoid disasters, take time to investigate which bloggers can be most interesting for your product.
8# Take care of your customer service.
Over the past few years, customer have gotten used to getting answers from companies they have reached out to 24 hours a day and 7 days a week, so make sure you are available online to help them.
Customer service is most likely one of the areas in which careful employee selection is most important. Your company’s ambassadors should be patient, empathetic and resolutive in order to offer your client the experience they deserve.
9# Prepare your FAQ before launching your product
When you launch a new product into the market, users usually have a bunch of questions about how it works and what they can do with it. The more innovative it is, the more you will have to explain it. Our recommendation is to get as much as possible done and prepared ahead of time by creating a complete and easy to find “Frequently Asked Questions” section. Ideally, encourage users to visit it before reaching out to you with their questions.
10# Don’t forget about email marketing
Email is a digital marketing strategy that may seem out of fashion, but that continues to be as effective as ever. Be sure to make the most of it!
In order to effectively implement an email marketing strategy, the first step is to create a database with your clients. The more information you have on each one of them, the better. Think about things such as age, residence, children and, of course, previous purchases or products they have shown interest in.
Use this information to create a highly personalized messaging strategy when the user feels like the emails have been written especially for them individually. Marketing automation can be a big help in efficiently managing all this information.
When the time comes to implement a digital marketing strategy, one of the most common “cons” for those running the company is that, supposedly, “social networks don’t sell”. This excuse, however, is a thing of the past. In order to better understand which products are the best sellers on social networks and how social media marketing contributes to sales, I would like to share with you today the results from IAB Spain’s latest annual social networks study.
The best selling products on Social Networks
The first thing that stands out from IAB’s data is that social networks play a very important role in purchasing decisions: two in every three users declared that social networks had influenced them when deciding whether or not to purchase a product or service. Amongst them, Facebook proved to be the most influential. Social networks influence decisions especially in clothing, footwear and/or accessory purchases (49% of users), influencing women in particular (61%). As for purchase drivers, we see offer or special pricing (36%) and interest in the product (25%).
Although it is crystal clear that presence on social networks can help you sell more, only 14% of surveyed people said that they had ever actually made a purchase directly form a social network. This percentage rises to 19% among younger users, between 16 and 30 years of age. This number is most likely due to the still limited amount of brands who offer the ability to purchases their products or services directly form a social network, and, as such, purchasing habits have not yet adapted to this new phenomenon.
As for evaluating the connection between different advertising channels, IAB offers extremely valuable data: the percentage of users who have visited a brand’s social networks after having seen one of their products advertised on TV, outside, in the press or magazines. This percentage is 27% of global users, and 34% of the younger generation. As such, we can see that there are definitely very good possibilities of cross advertising between the online and the offline world. Moreover, this percentage varies with the type of product:
- 32% (44% for women) for clothing, footwear and accessories.
- 31% (36% for men) for plane, train and boat tickets, or car rentals.
- 29% for hotel stays and rural houses.
- 26% on movies.
- 25% on music.
- 21% (31& for men) for electronic devices.
- And lastly, 20% (33% for women) in cosmetics, beauty and body-related products.
There should be no doubt left that social networks do sell, and can be a great opportunity for your brand, especially if you work in any of the sectors we mentioned above. In order to be one of the bestselling products yourself, my recommendation would be to focus on attracting quality leads, and take great care of your content schedule.