With the sudden surge of online purchasing, the need of e-commerce industry has exponentially increased. Many business owners have moved on from brick and motor store to e-store where they can sell their wide range of products to anyone and anywhere.
The reason being, consumers now prefer to buy their products from the comfort of their homes with the ability to transfer funds online and get the product at their doorstep. This modern world of technology has compelled many companies to launch their products via e-commerce sites. Although, such product launches have cut down the worries of creating an event but online product launch has its own share of planning.
Here are the Proven tips that you can use before planning an online product launch-
Research Your Competitors
Whether you believe it or not, your competitors are out there hungry for whatever the amount of customers your business has able to garner. Although, the competition might seem unfair but in order to have a successful product launch via e-commerce sites, you have to devote your time and energy in keeping tabs of what your competitors are up to. Once you have a clearer idea of how your product will turn out then the first thing to do is monitoring your competitors.
By doing so, it help your brand to build its business in numerous e-commerce sites while making your product a stand out. Moreover your brand will have the edge in this competition thus enabling you to plan your further strategies accordingly.
Develop a USP
While creating or planning to launch a new product, it is pivotal that we develop a unique selling point for the product itself. Simply put, a unique selling pint is what makes your product different from the products that are there in the market, hence enabling the business to distinguish itself.
Take Nutrena’s Loyall dog food as an example, the company uses a process named Opti-Cook which makes the food easier to digest. This particular process involves ingredients such as rice, thus reduces the amount of gas and waste a pet can produce. Moreover, a strong USP can help your product to garner the launch day sales through numerous e-commerce websites.
Whenever there is a product that is being launch through online channels and e-commerce websites, it requires utilizing cyberspace in the most efficient to inform the consumers. By doing so, it makes the consumers more aware of what your product has to offer thus giving a chance to properly identify your product.
As Steven Haines, an author of the book, “The Product Manager’s Desk Reference,” explains that launch of a new product hinges particularly on the brand’s ability to measure the succeeding outcomes. Along with monitoring traffic and tracking sales, your brand has to cope-up with the trend of discount codes in order to create an identification of your product.
Multiple e-commerce platforms
Over the few years, many e-commerce sites have got their recognition and that gave birth to some new and trustable sites as well. E-commerce platforms such as Amazon, Shopify and ebay have created a realistic and simple approach for business owners to attract their target audience and necessary revenues. When your business is new, you can take up the chance of launching your product via multiple e-commerce in order to establish your brand.
E-commerce sites allow your business to avoid many large and upfront investments while efficiently serving the niche markets as it makes easier to distribute the products online. Launching a product via multiple e-commerce platforms enables your business to reach consumers anywhere and anytime.
While working on launching a product via e-commerce site, most founders and developers make the mistake of focusing solely on the production aspect. Hence, when the product is finally launched, the sales can backfire in the worst possible way because by then many people still haven’t heard what the product really is.
So the next possible step is to get the consumers excited by creating a pre-launch buzz before the product is launched virtually. There are many ways through which you can build hype such as offering sneak peeks, promoting the product using social media influencers, behind the scenes videos and many more.
Analyze Your Market
We all know that launching a product on e-commerce platforms is not a simple task and for that you have to have proper knowledge of your market. A proper market study provides the brand with a better understanding of when the product should be launched with the best possible outcomes.
The processes involved in the market analysis are an assimilation of market conditions, recognizing market opportunities and developing strategies accordingly. One should also keep the price sensitivities of online channels in mind, if your products have a similar competition in the market. In such cases, the key factors to successful product launch are prices, product consumption, and delivery.
Although it’s a no brainer, but having a full inventory is one of the first things you have to keep in mind before launching a new product on e-commerce sites. As business owners, nobody wants to make the mistake of being out of stock as it will surely invoke a disinterest amongst buyers.
So as a result, buyers will tell other buyers to keep from a particular brand thus affecting the brand presence in the e-commerce market. However, if such unfortunate situation does occur within a month of product launch then one such way is temporarily raising the price to slow the velocity of sales while hinting a possible discount in the absolute future.
Many brands are tempted to stick with the product descriptions that come from the manufacturer in order to save time. The time saved for such idleness will eventually give rise to duplicate content which won’t work well with Google’s search algorithms. Hence, it is absolutely imperative to write your own product descriptions in order to persuade the customers for your product.
While writing a product description, you must include a proportionate amount of keywords (used best for SEO purposes) that are suited naturally with the products you’re selling. In this way, it will help your products to show up in relevant searches thus establishing your brand’s presence.
Landing Page for Product
When you’re about to launch a product in an e-commerce store, it is likely that you have done everything to drive traffic to your product’s landing page. Creating a fine landing page for your new item is extremely important because it is the first impression a buyer will have of your product.
So along with carefully crafted product descriptions, you might want to work on the visual appeal of your product as it is a great way to involve new consumers every day. To boost further traffic, you can also include social sharing buttons in the landing page itself with which people could share the product page across social media platforms.
Timing and Pre-ordering
As the term suggest itself, pre-order is when you order an item in an e-commerce or physical store even before the product has been manufactured or hasn’t been on sale yet. So if you’re launching a new product soon, then the strategy of pre-ordering can be highly beneficial for your brand.
Many brands have used pre-ordering to build momentum before the launch by making the customer excited about their products. One can make the most out of pre-ordering strategy by timing the product launch during a holiday or on the festive season. In that way, a brand will enough time to execute its marketing campaign while analyzing the results before the official launch date.
Cross-promotion is a widely used technique where you get to promote your new product by collaborating with other addition companies. It is an effective and inexpensive way to launch a product while generating more sales by incorporating your brand’s marketing efforts.
By cross-promoting with other companies, your brand gains the ability to tap into an already established community. For instance, a make-up company can partner up with company that sells bath products to provide shared discounts and deals. In simple terms, you can cross promote each other’s brand with the hope of successful product launch.
Testimonials or Reviews
Online shoppers generally tend to believe other shoppers. So when you’re planning to launch a new product online, you must consider using testimonials or reviews to your product’s advantage. Having a bunch of good reviews for your product will not only help your product rankings but also plays role in converting potential customers to buyers.
Although Amazon’s terms and conditions doesn’t allow any brands to ask for a positive review but you can always remind the buyers to leave a review once they’ve made their purchase. Some might not consider how important this is but 90% of consumers would not purchase a product if it didn’t have any reviews.
Provide Relevant Content
Here, the rule is when your product is ready to be launched then go start talking about it by creating relevant contents. Contents have always driven shoppers to the sites with its use of useful and entertaining presentation while getting the word out about your new product.
Blogging is one such example used by many brands to answer questions asked by potential buyers thus building buyer’s trust along the way. These blogs guided by SEO writers can help your product to pop up in many search results.
There are also other ways such as videos, podcast, articles with which content can be created to support the product launch. Each of the ways mentioned should convey the message of how helpful the new product can be for the potential buyers.
Comprehensive Media Campaign
A media campaign is the best way to reach a specific market by listing out the most enthralling benefits of your new product before its e-commerce launch. This campaign should touch upon aspects such as highlighting the competitive pricing and what makes the product unique and why the potential consumers won’t enjoy a similar product offered elsewhere.
You can also incorporate the promotional strategies in the campaign itself for introducing the product via web-based platforms, print and broadcast. Online product demonstrations, newspaper, magazine advertisements, Television and radio commercials are an important part of the media campaign.
As it is evident from our social feeds that many brands hire known influencers to review and use their product to build social proof that can’t be beaten. And why wouldn’t they? Influencers have built themselves a large reach and a loyal following by presenting their way of living through digital storytelling.
Whether it’s about promoting a trip to someplace or a new line of clothing, influencers are abled enough to paint a story that encourages their followers to mimic their decisions. So just like many other brands do, go ahead and hire an influencer to talk about your new product before the launch.
All those market research and analysis can be put to a better use by developing a story around your product. And what is better than visual storytelling that answers the consumers’ specific needs. Some of the storytelling ways you can use are-
- Behind the scene videos: First you have to engage your audience’s attention with the journey of the product itself. By showing them the development phase of the product, you can make the customers intrigued to see the final result.
- Sneak peek videos: If your product is best suited to keep its secret before the launch then revaealing some details to build buzz is the way to go.
- Product demonstrations: Demonstrate the best features of your product and make the customers’ live easier.
An email campaign should be an important part of your well-functioned product launch plans. Although many consumers don’t react well to excessive amount of emails, but informing them with fewer emails about the launch day discounts is an effective method of product promotion.
In this way, the launch date of the product will be etched in their minds and at the same your brand has built itself an e-mail list full of potential buyers.
Social Media Usage
When used correctly, social media can make or break a product launch and the results speak for it. There are many reasons why one should use social media before launching a new product and some of them are-
- Word of Mouth: By allowing influencers to spread the good word of your product will only work as a ‘for’ before the product launch.
- Anticipation building: Weeks before the product launch you can start posting hints and images regarding what’s to come can certainly build anticaption.
- Hashtags and Giveaways. A unique hashtag to promote the online product launch goes a long way. You can also use your branded hashtags for giveaway contests
- Early adopters: Go ahead and attract the people who want to be the first to try out our new product because this is your target market.