Marketing best practices: The smart way to launch a new product

Over the last 30 years, Media Relations has earned a strong reputation for our ability to assist companies with successfully launching new products. By using marketing best practices, we help businesses avoid the common and costly mistakes that can derail a product introduction.

There is a logical order to how a new product should be introduced, beginning with a well-designed website.  Media coverage is the best promotional tool because it gives your product third-party credibility, it’s easy to repurpose in other promotional channels, and with our  Pay Per Interview Publicity®, you are charged by the story we arrange, not per hour we work.

Media coverage is the perfect tool for companies whose products are in the early stages of the Product Lifecycle. The Product Lifecycle is a basic marketing concept. Your product’s stage in the Product Lifecycle affects how you should promote it.

The Product Lifecycle describes the stages products go through from their introduction to the marketplace and their final farewell. The four stages are:

  1. Introductory: When a product first enters the marketplace
  2. Growth: When more people are learning about the product and sales are growing
  3. Maturity:  When the target audience is generally familiar with the product and sales are steady
  4. Declining: When product sales are dropping

When your product is in the Introductory or Growth stages, use Reach and Teach marketing tactics to educate consumers about your product. Media coverage is an excellent way to Reach and Teach your audience. One media story can reach tens of thousands ‒ or even hundreds of thousands ‒ of people. And media stories often allow much more time and space than ads. Media coverage enables you to explain your product’s benefits in detail.

Also, media coverage is probably much more attainable than you think. Our publicists are industrious and creative. They think of story angles that attract the media’s interest. Find out what happens to your sales when your business or product is showcased in newspapers or magazines, or on television or the radio.

And when your product enters the later stages, we can help you as well. Products in the Maturity or Declining phase should use Reach and Remind tactics. With Reach and Remind, the focus is on keeping a product top-of-mind for consumers. Your target market is probably already aware of your product’s benefits, so you’ll want to use simple, short reminders of the product. We can help you get set up with digital ads that reach a carefully targeted audience.

It can be very challenging to introduce a new product. But it can also be extremely rewarding. We’d like to help you teach more people about what you offer. We have the marketing knowledge and the affordable pricing you’ll appreciate.

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 Robin Kocina

Robin Kocina is a proven marketing industry leader who has been instrumental in growing Media Relations Agency, a top performance-based PR agency, from its inception in 1987 to its current status as a successful integrated marketing agency with international clientele and multi-million dollar revenues. As President, Kocina now concentrates her efforts on the agency’s direction and fiscal growth, as well as new business development in the company’s Minnesota and Florida offices. Kocina’s financial acumen is evidenced by her recognition as a Top Women in Finance Circle of Excellence (Finance & Commerce, 2013) as well as Top Women in Finance (Finance & Commerce, 2010). A highly regarded community leader, Kocina believes strongly in sharing her marketing and leadership skills through community service. She served as chairman of the board for Depart Smart. She also serves on the Leadership Board for the National Federation of Independent Business, and actively involved with the Women’s Presidents Organization. She is a past board member and Chairman of the Board for WomenVenture. Robin is the recipient of numerous honors for her leadership and community involvement: Inductee into the Women Business Owners Hall of Fame (2018); Exceptional Businesswoman Award (2016); Volunteer of the Year (Bloomington Chamber of Commerce, 2010); 25 Women to Watch (Minneapolis/St. Paul Business Journal, 2008); Upsize Lifeline Award (Upsize Magazine, 2008); Standing Ovation Award (Minneapolis/St. Paul Magazine, 2006) and Luminary Award (National Association of Women Business Owners, Minnesota Chapter, 2005).

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