Imagine this, you have a new product. You truly believe this product will make your customers’ lives easier. But it seems no one even knows about this new amazing product. Sales are down and you are almost at the point of pulling the product from the market.

You are not alone. According to a report by insights association, 60% of products that make it to the market fail to generate enough revenue to become commercially viable.

A Salesforce study pegged the number at between 30% to 80% fail rate for new products, this depends on the industry, though.

One thing, however, that is common with these failed products is that not enough was done to promote and market them.

In this post, you will learn five proven product marketing strategies you can use right now to build buzz about your next launch.

Host an Event

For a brick and mortar store, a simple, cost-effective, yet proven way to create awareness of your new products is to host an event in your premise.

It does not have to be something too elaborate, or expensive. You can host an open house or even an info session. Though, this works best for restaurants, retail stores, spas, and yoga studios.

Also, see if you can partner with other nearby local businesses to host outdoor open sales, which is sure to attract even a larger crowd.

Share behind-the-scenes updates

People love to get a behind-the-scenes sneak content about how their favourite products are made. It is also an opportunity to put a face to your brand, showcase your work process, and let people in on what is it like working in your organisation.

It is a great way to build anticipation and buzz for your product even before it launches.

Attend relevant industry exhibition events

Tradeshows and industry-specific events are also another great way to reach a new and targeted audience for your products.

Keep in mind though, to attract people to your stand you might want to stand out from the crowd like creating custom exhibition stands, using lighting to your advantage, and

offering unusual branded gifts.

It is also an excellent channel to get featured in major publications and news outlets. A strategy Kolibree used masterfully to get featured in major tech publications.

During the CES 2017 tradeshow, Kolibree launched their new Ara toothbrush which the branded as “the first toothbrush with artificial intelligence.” And as expected, large tech publications like Wired and TechCrunch picked up on the news.

Use email marketing

For every dollar you spend on email marketing you get about 44 dollars back, that is over 400 percent ROI.

Also, when you consider that the majority of your customers want you to communicate more with them through emails, it makes sense to also promote your products through this channel.

However, the key to winning with your email campaigns is to understand and segment your audience, that way, you are sending relevant content to only the people that want it.

Some of the metrics to use when segmenting your list include: past behaviours – did they open the last email you sent? Did the click on the link in the email? You can also use interests, demographics, and previous purchase patterns.

Leverage in-store promotions

Offer people incentives to visit your store. If you are showcasing new timber hardware products or running a discount on new timber supplies, consider showcasing some timber products that people are making with your products or offer demonstrations of your tools and timber machinery.

Also consider promotions like running a discount that can only be redeemed in-store, offering exclusive product preview to select valuable customers and vouchers they can shop with within your store.

In addition to your memorable logos and signage, if you are in Sydney or Brisbane and business includes fleets of vehicles, consider adding some signage to your cars which highlight your new service or product.

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