Factors Considered When Launching a New Product on the Market

When launching a new product, you have to make sure that your launch sequence appreciates the decision making process of your prospective customers. Avoid flashy, salesy launch sequences that repeat the message “buy my stuff” over and over. As you create your campaign, consider these two factors.

Factor #1: Customers do not buy your product just because you made it. Customers buy your product because it solves a problem in their lives.

Factor #2: Few people are going to buy your product the first time they hear about it. You have to give your marketing efforts time to take effect in your prospect’s mind.

Because of these two factors, your launch campaign has to acknowledge where your potential customer is in the buying process. Let’s take a look at the steps of the buying process:

Step 1: Awareness. This person has heard of your business, but may not know what you do. You did something right, because your business is familiar to them. Your responsibility is to encourage this person to learn more about your business by visiting your website or trying a sample.

Step 2: Interest. This person has taken a step to engage with your business. He has requested a free trial, come to a free event, or is a referral from another customer. This person is aware of what you do and has shown a level of interest that goes beyond casual awareness. Your responsibility is to better understand this person’s needs, offer an intelligent solution, and request the opportunity to follow-up and discuss further.

Step 3: Prospect. This person has given you permission to follow-up with him. He signed up for your newsletter or provided his contact information for a return call. Your job is to contact this person, establish a connection, and help them see how your product solves their problem.

Step 4: Customer. This person purchased something from your business. He decided that your product solves his needs and wants to put it to use. You have made the all-important first sale and now your job is to stay connected, collect survey feedback, and improve the buying experience.