Getting people to buy a new product is a tedious task. However, as long as you can promote it the right way, your product is sure to sell.
With that in mind, here are some of the best ways for promoting a new product effectively in 2022 and beyond.
Exploring New Social Media Platforms
Facebook and Instagram have long dominated the social media marketing game. However, marketing your new product on just Facebook and Instagram will not do at present, especially when other major social media platforms are demanding more attention.
Take TikTok as an example. The Chinese social media giant has over a billion users. To any brand or marketer, this opens up an opportunity to promote their products to over a billion people. LinkedIn is another social media platform gaining popularity in the last few years. The number of LinkedIn users grew from 500 million to around 700 million in 2021.
Apart from the growing number of users, you can also capitalize on the type of innovative content that gains more hits on these platforms. Alongside affiliation programs with influencers, brands can also capitalize on different trends. Milk Bar, for instance, did a campaign on TikTok where they show their products using various meme templates.
The ability to add music to your videos on TikTok is a feature that Milk Bar also used to its advantage. And the more you explore such case studies, the more you will realize how crucial such types of new media branding is at present.
Affiliating with Micro-Influencers Based On the Product Niche
Influencer marketing is not a new concept, nor is there any exciting way to innovate with it. However, influencer marketing is becoming more direct and specific. As the world becomes more connected, brands are starting to realize that they and their products need to be relevant to their target consumers. And that is why they are all capitalizing on affiliate programs with micro-influencers, something you too should focus on for your new product’s launch.
Determine the type of product you are selling. Based on that, select your target group. Then, look for micro-influencers who cater to those groups, and get them to promote the product.
Micro-influencers have a more dedicated following. Hence, even with a smaller following compared to celebrities, they can influence people’s choices. Coca-Cola, a brand that has worked with countless celebrities from Hollywood and Bollywood, is also working with micro-influencers now.
Some of their latest Instagram affiliates have less than 100,000 followers. However, Coca-Cola knows that these people can have a bigger impact than mainstream celebrities when it comes to influencing choices. So if they can go for it, what is stopping you?
Participating in Trade Shows
Promoting your new product at trade show exhibits is the ideal way to get instant feedback on it. Exhibitors use these events to not only reach out to potential clients or customers, but also hear from them, and get their feedback. Through these trade events, you too should promote the new product, hear from what people have to say, and perhaps even sell some of the new items.
Having a custom trade show booth should be a priority. The design of your exhibit booth is what will appeal to people present at the event. Amidst all the trade show booths, you will have to stand out, which you can easily do if you get the right people working behind it. From the display boards to the whole arrangement of the booth, you should entrust everything to the professional exhibit rental company. They will adjust to your company’s colors. They can even get creative with the overall booth design to highlight the new product.
Promoting the Product in the Metaverse
Nike is joining the Metaverse. It will release shoes there and will surely sell the same shoes physically at a steep price at some point.
The whole concept of spending real money on something virtual is quite absurd. However, people are buying into that idea. And while you necessarily do not have to sell your product there, you can at least promote it.
Renting out virtual billboards will be a thing in the future. So watch out for that. Also, if you are in the clothing industry, you can do what Nike is doing, and start making clothes for the Metaverse. Then, you can sell them physically once they become popular among users.
Accept the Product’s Faults or Shortcomings
New products often fail. In the past, no matter how bad this failure would be, brands would move heaven and earth to defend their products. At present, that will not work. It will only backfire, and maybe even lead to lawsuits against your company.
Instead, accept whatever fault your product might have. That in itself is a way of promoting it. Let your potential customers know that you are aware of the mistakes or faults and that you will fix them. Of course, you have to deliver on your promise. Only then will this acceptance pay off, and your customers can trust you again.
In conclusion, promoting a new product will not be easy. However, you can do so effectively and expect good results if you stick to the points above.