Steps to a Successful Product Launch
For most successful entrepreneurs, the idea is the easy part of starting their businesses. The challenge is getting the idea-turned-tangible-product to market. While tenacity, patience, and consistency are main ingredients to successfully launching and selling your product, there are three proven and easy-to-implement marketing strategies for getting your product to market: 1. Seed the market. To get your product into the hands of decision-makers, seed the market by offering limited trials or discounts so that businesses can experience for themselves the benefits your product can add to their bottom line. Getting your product into clients’ hands will stimulate sales and could help build credibility. Be clear on the amount of time prospects have to sample your product, and set realistic expectations for pricing structures and return on investment. 2. Credibility is key. Credibility is important when launching a product in any industry, and even more important if the industry is known for being slow to adopt new technologies or methodologies. Talk with industry influencers (analysts, university professors, physicians, reputable bloggers, and even media) to get feedback and, if possible, an endorsement of your product. With an influencer who believes in what you’re selling, you gain credibility with your target market. 3. Support your partner. Once your product is on the market, offer marketing support and training. Marketing collateral that helps businesses sell your product to their customers is one key form of support. Also make sure to offer appropriate training to their employees on the benefits and proper use of your product. This can be accomplished using DVDs, written materials, and in-person training. The amount of time and energy invested into properly introducing your product to market will be rewarded with market longevity and success. Kathleen Buchanan CEO and Founder iinnLight Technologies Laguna Beach, Calif.