What is the best way to market a new product?

What is the best way to market a new product? That question can be answered in one word: Publicity. And why does publicity work so well when launching a new product? Three words: reach and teach. And two other words: it’s cheap.

Let’s back that up with marketing logic. Consider the first two stages of the product lifecycle. 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. 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.

Consider the other promotional mix options: ads, website, social media and personal selling. Ads are expensive and brief. Not good. Websites are great for teaching but their reach is limited. Social media is inexpensive but it’s also brief and has low reach (good luck winning the viral-post lottery). Last is personal selling. Wonderful for teaching but very expensive and people are only reached one at a time.

What is the best way to market a new product?

Most marketers will use a combination of all five promotional mix channels throughout the product’s lifecycle but it’s smart to get all the publicity possible when introducing a new product. Publicity reaches the masses; it explains what the product is and what it does. And compared to the other promotional mix channels, it’s inexpensive.  

Not every product or service is worthy of media coverage. But most are. Our team of publicists have arranged tens of thousands of product news stories so we have a good idea what the media is interested in. Call us and we’ll tell you how inclined we think the media would be to do stories about your product. You can reach our office manager Becky Quesnel online or at 952-697-5269 and she will put you through to the right person.

Written by Lonny Kocina

Lonny is a visionary who is passionate about marketing. He believes that to be a truly great agency, our professional advice and deliverables must be based on a solid marketing foundation. He has made it his mission to ensure that everyone on our team knows and understands the basic marketing concepts and the SAM 6 process. Lonny pioneered the concept of our nationally trademarked Pay Per Interview Publicity® business model which enables clients to purchase publicity by the story. “It’s a familiar concept. If you pay for a pizza, you get a pizza; if pay for a car, you get a car; and with us, if you pay for media coverage, you get media coverage,” he explains. “Clients come to us because they are tired of paying hourly retainers and getting little tangible return.” When the Internet was in its infancy, Lonny also had the business foresight to quickly reserve portal web addresses such as publicity, media relations and checkerboard, and advised clients to do the same. Nearly 30 years since launching this agency, Lonny’s still finds great joy thinking about, talking about and writing about product promotion. He thrives on expanding our ability to help clients tell their stories to the masses.

WordPress Video Lightbox Plugin