This article is a quick checklist of digital marketing steps for established businesses who are thinking about launching new products or services.
If you own (or work for) an established business, you probably already have a carefully curated customer base and your website is stable, secure and fast. Now let’s say you have a brilliant idea for a product or service that’s going to take your business to the next level. Marketing and launching your next product to that same audience should be a piece of cake, right?
At Mogul, we’ve worked to help launch many new products and services for established businesses. With a solid strategy for marketing, you’ll be able to avoid as many pitfalls, while taking advantage of as many opportunities in the process as possible.
The first, and most crucial step is to check in with your intended market:
- Who is your ideal customer?
- What are their pain points?
- What can you offer to meet those needs?
- How much would they be willing to pay for it?
- Why would they choose your offering?
You have a much greater chance at success if you launch a product that meets your market’s need rather than trying to convince your clientele that they want your product.
With a market and need established, you’ll need a launch plan. That requires some consulting. Together we’ll work out:
- Who do you need to get in front of?
- How are you going to entice new clients?
- How are you going to leverage your current client base?
- What does success look like?
Without a plan, it’s hard to measure the success or failure of a new product’s launch. Understanding these metrics before starting the launch process is key.
With the knowledge that your market has a need, and your solution will meet that need in combination with reasonable, measurable goals – the next step is to get your idea out there into the wild. How best to go about that will depend on your business individually;
- Email marketing is the best way to attract the captive audience you already have within your newsletter subscribers through a series of well-planned email marketing campaigns.
- Google Ads: if you need to attract people who are thinking about their problems but don’t know your brand specifically, targeted Google Ads are a great, cost-effective way to get your brand in front of a wide range of people quickly.
- Influencer marketing: Should you be looking to enter a specific market, approaching a relevant influencer who already has the audience you should be thinking about.
Together, Mogul will partner with you to give your latest product every possible chance of success.
To see where we’ve applied these principles in the past, check out our case study about the Rambuilder project we did for Motus Hydraulics:
To learn more about launching a new offering, here’s some further reading:
- Ask someone. Ask a few people
- Business planning: New approaches in the digital era
- Win the battle for the inbox