How to market a new product

“Of the thousands of ways you can promote your product, almost all of them fit neatly into one of the Promotion Mix channels. The Promotional Mix is where the rubber meets the road. It’s one thing to imagine that you have created a product your market desires; it’s another when you put your message to the test by engaging with real people.” 

Excerpt of the Month from Lonny Kocina’s book, 

The CEO’s Guide to Marketing  

There’s a logical order to marketing a new product. During the introductory and growth stages, people have no idea what the product is or what it can do for them. They need to be taught. Whenever a client comes to us with a new product, we caution them to be very cautious about jumping ahead because they’ve got to nail the first impression. Some promotional channels are better at reinforcing messages than teaching them. 

In addition, revenue lags behind expenses. During the introductory and growth stages, money is tight. That means reaching lots of people and teaching them about the product has to be done inexpensively.

That’s why it’s smart to get all the publicity possible when introducing a new product. To create demand for your product, you’ve first got to teach people about its merits so they understand why they need it. Publicity is valuable at every point in the product life cycle because it reaches the masses; it explains what the product is and what it does. The reach of a media story is like telling your product’s story to a packed stadium. It’s like an endorsement on steroids. 

And compared to the other promotional mix channels, it’s inexpensive. With our  Pay Per Interview Publicity®, you are charged by the story we arrange, not per hour we work.

Also, media coverage is probably much more attainable than you think. Our publicists are industrious and creative. They have arranged tens of thousands of product news stories so we have a good idea what the media is interested in.

Media coverage is the perfect tool for companies whose products are in the early stages of the product life cycle. Of course, not every product or service is worthy of media coverage. But most are. And while it can be very challenging to introduce a new product, it can also be extremely rewarding. We’d like to help you teach more people about what you offer. 

Media Relations is recognized for helping our clients’ businesses to grow. We’ll help you leverage the resources of our full-service agency to tell a wider audience about your product. Call us at 952-697-5269 or complete our form. Let’s talk about the promotional tools that can best help you.

 

 

Written by Heather Champine

Heather is a multi-faceted leader. She’s part marketing strategist, part consumer psychologist and part motivational cheerleader. “I love understanding what drives people to take action, especially when it involves getting the media to run stories about our clients,” she says. With more than 20 years of experience, she has the keen understanding and insight to know how to run an integrated campaign and what it takes for our clients’ stories to become the news. She enjoys leading campaigns for complex industries such as medical devices and technologies, as well as fun industries such as hair salons. She thrives on pursuing creative ways to educate consumers about clients’ products, and ultimately inspiring them to buy. “I appreciate becoming a part of each client’s marketing team. I cherish the long-lasting relationships, and successful marketing programs we have created together.” Heather also finds joy in her daily collaborations as part of our creative team. “I am grateful to work with publicists, writers, designers and other marketing experts, all enjoying what they do because they are using their God-given strengths. Our publicists have great instincts because they all have media backgrounds. When things get hectic, it’s often Heather who cracks the first joke. “We encourage people to be a little goofy and unique. Some of the best ideas and solutions emerge because we know how to have fun,” she grins. “I may say something like, “Remember this is PR not the ER. Now, lighten up and go book a great story idea with the media!”

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