Have you spent the last few months working tirelessly on new product designs? Have you put in countless hours into testing and improving it?
But as great as your product may be, failing to execute a proper launch strategy can kill a terrific idea. Even multinational corporations with considerable resources have made this error (think: the infamous ‘New Coke’ launch by Coca-Cola in 1985 and the more recent ‘Fire Phone’ disaster by Amazon).
While large companies may have the resources to recover quickly from a total dud, smaller e-commerce operations have a lot riding on new product launches. That’s why they need to be extra careful with the process.
Many of you who are heavily involved in the e-commerce space are likely to be familiar with some or all of these product launch tactics, for the rest of you, take notes!
Generate Hype with a Pre-Offer
Managing cash flows when launching a new e-commerce product is a challenge. Luckily, preorder offers can help you generate hype among loyal customers and cover some of the costs.
Decide on an irresistible offer that will help increase conversions and entice consumers into buying the product beforehand. Offers include discounted product bundles, free shipping, and gifts throughout the promotion period.
Work Closely with Your Supplier
Many online stores work with overseas suppliers or multiple vendors, which can be hard to manage. Sourcing, approval, production, and delivery all take time. By staying in close contact with your agent or supplier, you can prevent stressful last-minute delays.
Pick a Launch Theme
Before you can determine the specifics of the product launch, it’s essential to think of the big picture. Decide on a theme that best suits the new product as well as your personal e-commerce brand to ensure continuity across each marketing component.
Prepare Your Marketing Assets
Start preparing a list of all the marketing assets you’ll need for your e-commerce product launch. It’s best to get a head-start on the process and plan out your launch strategy. You’ll need:
Photography: Professional product photography is an absolute must if you want to sell consumers on your product. Styled photoshoots that tell the story of your brand and convey the product’s quality are essential if you want to entice consumers.
Website: Once you have your images, it’s time to upload them on the website as soon as you’re ready to go live. Sneak peeks through your e-commerce website before the launch date can also help get potential consumers excited about your product.
Emails: Email marketing is an excellent way to prepare customers in advance and provide them with updates. Write your emails beforehand to ensure they’re tonally consistent and include all relevant information.
PR: Line up some bloggers or social media influencers to get the word out about your product launch. Take your time to vet influencers who vibe with your brand’s identity and meet your requirements for the best results.
Advertising: Paid content on social media platforms is an excellent way to reach target audiences within a limited budget.
Following these tips should help you score a successful product launch. With all the hard work done, all you need to do now is sit back and watch the orders roll in!
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