Introducing a new product isn’t easy. I understand this. And I respect the hard work and determination it takes to help your product gain market share. That’s why I enjoy helping businesses use Pay Per Interview Publicity®. This creative marketing approach is a convincing way to introduce a new product. It’s the perfect tool for companies whose products are in the early stages of the Product Lifecycle.
The Product Lifecycle is an academic concept that holds very true in real life. In fact, your product’s stage in the Product Lifecycle affects how you should promote it.
The Product Lifecycle describes the stages products go through between their introduction to the marketplace and their final farewell. The four stages are:
- Introductory: When a product first enters the marketplace
- Growth: When more people are learning about the product and sales are growing
- Maturity: When the target audience is generally familiar with the product and sales are steady
- Declining: When a product is no longer a novelty and 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.
Media coverage is probably much more attainable than you think. With Pay Per Interview Publicity®, we charge our clients per story we arrange, not per hour we work. 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 enter 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. I 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. I’d like to help you teach more people about what you offer. We have the marketing knowledge you seek, and the affordable pricing you’ll appreciate.
I have a heart for helping businesses grow. I’ll help you leverage the resources of our full-service agency to tell a wider audience about your product. Call me at 952-697-5269 or complete our form below. Let’s talk about the promotional tools that can best help you.