7 Business and Product Launch Ideas
Launching a new business and product? Here are some awesome tips and launch ideas to make the most of your efforts.
I. Influencer Marketing
Working with influencers on an influencer marketing campaign is another great way to launch your new business or product. Send your product to several targeted influencers prior to the launch so that they can try it out. They can then review the product and provide their followers with a sneak preview.
If the influencer loves the product, chances are their followers will, as well, which means that you will be introduced instantly to a new audience that may end up buying from you. Just do proper research – a large number of followers doesn’t always ensure success. Small influencers with high levels of engagement are often the best option.
When it comes to promoting your launches with influencers, there are numerous options available to you. For instance, you could just send the product for a review, or you could pay influencers to become brand ambassadors. You may even offer special discounts to encourage their followers to buy the new product.
II. Waiting Lists and Pre-Orders
Taking pre-orders is another great business and product launch idea. It will help you gauge the level of interest there is in your new product and ensure that you are adequately prepared with sufficient stock for launch day. It also allows you to start earning money prior to launching the business, which can be particularly helpful for small businesses.
You need to offer your customers an incentive to encourage them to pre-order your product. For instance, they could have the product delivered one day before everyone else. Or they could receive a free gift or a 10% discount with their order. Depending on the type of product being launched, you can even offer personalization for pre-order customers.
When it comes to launching a new service-based business, letting customers sign up to a waiting list prior to launch can be an excellent way to gauge interest. Other great ideas for small businesses and product launches are including a free downloadable item and offering early-bird discounts.
III. Competitions and Giveaways
Competitions and giveaways are great for getting people interested in your launch because everyone loves a freebie. You might want to run the competition on your own social media channels. Using this strategy will not only increase awareness of your new product, but you can also gain new followers that may be interested in buying from you.
It is incredibly useful when it comes to a new business launch because it is so important to build that initial following. The bigger the giveaway, the more attention it’s likely to receive. So, try offering something exclusive, or a prize that “money cannot buy”.
You could also partner with influencers to run competitions and giveaways on their channels. They have a highly engaged audience, which is why you should tap into it.
Competitions and giveaways help put your product in front of thousands of interested people. Even if they don’t end up winning the competition, they will be far more likely to remember your brand when they buy something in the future.
IV. Plan a Launch Event
A new product or business launch can never be complete without a launch party. An event can be a great way to create some buzz around your product or brand. Invite some loyal customers, local businesses, or influencers and encourage them to share pictures of the event on social media to help spread the word. Stock up on decorations and fun props at Premierglow.com. The event can also be used to give product demonstrations or gift VIP guests with their own products to take home.
The type of event that you hold will depend on what new product you are launching or what your new small business is. For instance, if it is a new restaurant, you may consider hosting a dinner so that influencers and key press contacts can try it out the night prior to its launch to the public.
If you plan to launch a new piece of technology, you should consider holding a small conference with local industry names along with a special preview of the new product. If you are opening a new shop, get cake, balloons, prosecco, and invite your best customers for an evening of shopping with 20% off everything to help launch your new store.
Keep in mind that the event does not even have to be in person. Virtual events are becoming increasingly popular especially after the pandemic. The great thing about going digital is that it won’t restrict you when it comes to geography. You can even invite guests from further afield to join in.
A Facebook Live or Zoom party can be a great way to celebrate and create a buzz around the launch without the need to be in the same room as your customers. You can still discuss your new service/show off your new product and offer attendees a discount.
V. Collaborate
Collaboration is one of the most powerful tools available to small businesses. Working with other small businesses can be an excellent way to launch your product or business. Not only will it be exciting and something a bit different for the customers, but can also help introduce you to a new audience.
Collaboration can be done in many different ways. For example, your local café could be the ideal location for hosting your launch party. Or a great local artist could be the perfect person to design the packaging of your new product.
VI. Build a Story
Your small business is competing with hundreds of other businesses, which is why you must ensure that yours stands out when launching a new product or business. A good way to do this is building a story around your brand that allows people to connect with you. This will help them remember your small business and want to buy from you.
Ensure that this story is consistent across the entire launch campaign. Write a press release and provide outreach for blogs with information about the product or business (along with how it was created and your small business story) to encourage magazines, newspapers, and online platforms to write about you.
Use this same story across your social media, website, leaflets, and email marketing to help strengthen your brand. When it comes to ideas for your product or business launch, this is one that you definitely should not skip.
VII. Email Campaign
People that have signed up to your mailing list are already interested in your business, which is why you shouldn’t forget to inform them about the new product launch. If they are already on your mailing list, chances are they have purchased something from you before or plan to do so, which means that it’s highly likely they will want to buy the new product too.
Start early when building an email list for a new business launch. Ensure that your sign-up link is available on your website or social media before the official date of the launch. That way, by the time you are ready for your small business to launch officially, you already have a list of prospective customers.
