12 Effective Ways to Promote Your New Product or Service

Promoting a new product or service requires significant effort, and it doesn’t stop once it’s ready. Launching and promoting it are equally crucial aspects of the equation.

You may have the best product or service out there, but if you don’t promote it properly, you risk missing out on opportunities or even losing money.

12 Effective Ways to Promote Your New Product or Service
12 Effective Ways to Promote Your New Product or Service

To ensure that your efforts bear fruit and maximize your reach, we have compiled 12 effective strategies to promote your new product or service. Let’s dive in!

1. Offer Exclusive Previews to Loyal Customers

Your loyal customers are vital when it comes to promoting your product, as they are not only likely to purchase it but also to promote it within their networks.

Consider hosting a private pre-launch party, either in person or virtually, or provide them with exclusive invitations to try out and provide feedback on your new offering.

These exclusive offers not only foster excellent customer engagement but also reinforce the value you place on your customers. Customer engagement and loyalty are crucial for any successful growth marketing strategy.

2. Use Special Launch Offers

Instead of merely announcing your new product or service, make it available through a special launch offer. This offer can take various forms, such as:

  • Offering a discounted price.
  • Bundling it with other products or services at a reduced price.
  • Partnering with a complementary business for joint promotion.
  • Providing a coupon or discount code with purchase.
  • Offering a free product with purchase.
  • Doubling loyalty points for existing customers.
  • Giving a free gift for each referred customer.

Emphasize that this offer is limited in time, creating a sense of urgency for customers with limited purchasing power or time.

3. Utilize Google My Business

Leverage your Google My Business profile, if you have one, to promote your new product or service effectively. You can achieve this through Google My Business posts.

Create a “News” post if you are merely announcing the new product or service. Remember that Google My Business posts expire every seven days, so be sure to repost them.

If you are offering a special launch deal, use an “Offer” post, as it allows you to set a deadline. Always include a compelling image and a clear call-to-action to effectively promote your business.

Additionally, share photos of the new product/service on your business profile through the “Photos” tab and add it as a new item in your “Products/Services” tab. You can even create FAQs about the new offering in the “Questions & Answers” section of your Google My Business account.

4. Organize Social Media Contests and Giveaways

Social media contests and giveaways are fun and straightforward ways to engage with customers and attract more followers and prospects to your business. These contests can yield an average of 34% new customers per campaign on Facebook, making them a powerful tool to overcome the platform’s limited organic reach.

Position the winners of your Facebook or Instagram contest to be among the first to get their hands on your new offering, either for free or at a discounted price.

Announce the contest across all your marketing channels, not just the social platform you are using for the primary campaign. This includes other social media channels, your website, email newsletters, and even paid advertisements.

Increased engagement with your social media accounts will likely drive more traffic to your website, introduce your business to new customers, and provide a fun way to connect with your audience.

5. Spread the Word Through Email Marketing

Did you know that 82% of consumers open emails from businesses, and 76% of email subscribers make purchases due to email marketing messages?

Email is a fantastic channel for promoting your new product or service and incentivizing new subscriptions. Launch a targeted email campaign specifically for this new offer, or even a series of emails leading up to the launch day.

Alternatively, feature the new product prominently in your next newsletter. This email could be sent to your general audience or, in support of strategy #2, be an exclusive offer reserved for subscribers or existing customers.

Tips for effective email marketing:

  • Focus on the ultimate value and benefits of the new product, rather than just its features.
  • Make the offer stand out in your subject line.
  • Use compelling header text to boost open rates.

6. Write a Blog Post

If you don’t have a landing page for the new product or service, consider writing a blog post to delve into all the details, features, and benefits that you would typically include on a landing page. Please distribute the link to the blog post through your emails or social media platforms.

Even if you have a landing page, a blog post is an excellent way to bring attention to your new offering and provides many opportunities to link back to the landing page.

7. Organize an Event

Events not only build excitement for your new product or service but also provide an opportunity for prospects to engage directly with you or your employees – a powerful way to convert them into customers.

Events don’t have to be elaborate; something as simple as an open house or information session can be effective for places like trade shows, fitness centers, yoga studios, spas, and retail stores.

Virtual events are also effective promotional tools. Consider:

  • Hosting a Facebook Live session demonstrating the product’s features.
  • Conducting a live or recorded Q&A session about the product.
  • Featuring an influencer with expertise in your new product or service, culminating in the reveal of the offering.

8. Offer a Free Upgrade

If your business is more service-oriented, like a salon, spa, fitness center, or consultancy, consider offering a free upgrade for customers to try out your new service.

Promoting a new type of massage or facial at your spa? Offer a free (but perhaps temporary) upgrade for existing customers to experience it.

Expanding your agency’s PPC offerings? Add the new service to existing clients’ packages at their old price. Alternatively, offer free delivery of your new product for a limited time.

9. Allow Trade-Ins

If your new product is an upgrade of an old one, consider implementing a trade-in program. Trade-in promotions work well because consumers are more likely to purchase a new product using a token or credit they already have (in this case, the product they currently own).

If the old products are in good condition, you have the option to either resell them or utilize them for future promotional giveaways.

10. Share Customer Reviews

One of the best ways to promote a new product or service – and market your business overall – is to let your customers do the promotion for you.

If you’ve utilized some of the ideas mentioned above (such as offering an upgrade or a free trial), Afterwards, you have the option to request customers to write an online review for the new service or furnish material for a testimonial.

Reviews and testimonials are invaluable when introducing the product to a wider audience. After all, 84% of consumers trust online reviews as much as personal recommendations.

11. Utilize Social Media

When using any of the strategies mentioned earlier to promote your new product or service, make sure to announce your offers through your social media accounts. This allows you to reach your audience easily, and your followers can effortlessly share your message on their own profiles.

Moreover, customers/prospects can ask questions about the product in the comment section, leading to organic FAQs. The post can direct readers to a landing page or blog article with more information.

For niche audiences or loyal customers, consider using a custom hashtag in your promotional posts. This not only extends the reach of your campaigns but also encourages customers to share posts and photos, using the custom hashtag.

This user-generated content can then be utilized to further entice more people to try your new service or product!

12. Run Facebook Ads

With 1 billion daily active users, Facebook advertising provides access to a large audience interested in your new product or service.

Facebook ads are particularly beneficial due to the voluntarily provided custom data in user profiles, enabling incredibly specific audience targeting. You can consider factors such as gender, age, location, interests, marital status, occupation, and much more, allowing you to get the most out of your advertising budget. There are also several options for ad types, budget, and campaign duration, allowing you to tailor your objectives to your means.

Which Is the Best Way to Promote Your New Product or Service?

In conclusion, promoting a new product or service requires a well-thought-out strategy and a combination of various marketing techniques. By offering exclusive previews, utilizing special launch offers, leveraging Google My Business, organizing social media contests, and using email marketing, you can reach your target audience effectively.

Additionally, writing blog posts, hosting events, offering free upgrades, allowing trade-ins, sharing customer reviews, utilizing social media, and running Facebook ads are all effective ways to generate excitement and drive engagement with your new offering.

Remember, each promotion method may work differently depending on your industry, target audience, and unique product or service. Therefore, it’s essential to analyze the results of each strategy and make adjustments as needed to achieve the best possible outcome.

So, get ready to launch your new product or service with confidence. Implement these strategies, monitor their effectiveness, and adapt as necessary to ensure success in your marketing endeavors.

To reach your target audience effectively, utilize a combination of marketing channels such as social media, email marketing, content marketing, and paid advertising. Customize your communication to cater to the distinct requirements and preferences of your target audience.

Cost-effective promotion methods include leveraging social media platforms, creating engaging content, utilizing email marketing, and organizing contests or giveaways. These strategies can help generate buzz without a significant financial investment.

Offering special launch discounts or bundling the new product with existing offerings can be effective in attracting customers and encouraging them to try the new offering. It creates a sense of urgency and value for potential buyers.

Utilize Google My Business by creating “News” or “Offer” posts to announce the new product or service. Additionally, add photos and information about the new offering to your Google My Business profile to enhance visibility.

Yes, social media contests and giveaways are powerful tools for generating excitement and engagement with your new product or service. They encourage users to participate and share your offering with their networks.

Craft compelling email campaigns that highlight the benefits of the new product or service. Use catchy subject lines and clear calls-to-action to encourage recipients to take action.

Write blog posts that provide in-depth information about the new product/service, its features, and its benefits. Share the blog posts through your marketing channels to drive traffic and interest.

Consider hosting launch parties, webinars, workshops, or live demonstrations to introduce the new product or service to your audience. Virtual events are also effective options for engaging a broader audience.

Notify existing customers about the free upgrades through personalized emails or announcements on your website or social media. Clearly communicate the added value they will receive from the upgrade.

Trade-in promotions encourage customers to replace their old product with the new one, creating a sense of value and upgrading for the customer. It can also lead to increased customer loyalty and word-of-mouth referrals.

Remember, the success of your promotional efforts will depend on understanding your target audience, crafting compelling messages, and using a mix of effective marketing strategies.