Launching new products isn’t a piece of cake, especially when you’re just taking first steps in the market. Encouraging potential customers to purchase your goods is a challenging and time-consuming task which requires careful planning and an appropriate strategy. So, what should you pay attention to?

Market research

Thorough market research is the first component needed to make your product launch successful. Analyze websites and activities of your market rivals to get inspired by their strengths and define their weaknesses you can benefit from. Learn from the mistakes of others to optimize your UX and marketing strategy. Ask your future customers for opinions to refine your product and ensure that it meets their requirements.

product launch

People, not things

When devising your business strategy, you should focus mainly on recipients and potential customers, not on technical aspects. Apply the language of benefits which means paying special attention to communicating how your item can change the lives of the buyers for the better.

Define your target group to personalize marketing messages and consider your buyer personas, their objectives and reasons why they may need your product. Analyze channels of communication frequently chosen by your recipients – are they social media users or do they prefer emails, newsletters or various price comparison apps? Shping enables gaining a comprehensive insight on the profile of your buyers. Moreover, you can personalize content and push notifications to attract customers for longer.

Effective product launch

Competitor analysis

Scrutinizing activities of market rivals gives you an unprecedented opportunity to refine your marketing strategy and gain a competitive edge over other companies operating in the same sector. Analyze offered prices, available product variants and discounts provided by your competitors. Improve your brand recognition by making your product stand out from the crowd. 

Various channels

Benefit from available channels to get closer to potential customers and facilitate communication. Consider contacting influencers that could advertise your product before it’s officially launched. Don’t forget about various price comparison apps such as Shping which helps to build a community of engaged brand followers and can contribute to improving your brand recognition and product awareness by juxtaposing your attractive offer with its alternatives prepared by other companies. Shping makes it possible to redirect users straight to your website which optimizes sales and UX.

Customer reviews

Appreciate constructive feedback and encourage customers to write reviews and rate your product. This way, you can see your item from an objective point of view and determine which elements need improvement. Moreover, feedback and social proof encourage people to make a purchase. If we see that someone praises a given item, we’re more willing to buy it. Shping is a price comparison app that allows customers to scan barcodes of all the products they wish and write genuine reviews which are particularly important when launching new products. Why? Imagine that shoppers come across your item for the first time ever, they haven’t seen it before, yet they’re attracted by the packaging, name and price. In such a situation, they’ll probably look for reviews to check if it’s worth investing in the product.

The takeaway

Although effective product launch is a complex process, it’s not infeasible. Thorough market research and competitor analysis are your pathway to success. Benefit from available tools such as Shping to improve your sales thanks to reaching people who haven’t had an opportunity to come across your brand. Build recognition and customer loyalty while advertising your offer in a subtle and user-friendly way.