From the countless hours spent creating blueprints, mockups, and implementing design changes, bringing a new product to market is a major investment for any business.
But the hard work doesn’t stop once the product is created.
To ensure a successful product launch, it’s crucial to develop a strategic marketing plan that efficiently gets your product out in front of different audiences.
For many industries – including niche markets and most manufacturers-- integrating a B2B inbound marketing strategy increases product awareness and drives qualified leads.
The goal of any marketing plan for a new product should aim to increase relevant traffic to your site while shifting visitors into leads and nurturing them into sales.
However, instead of eating up valuable employee resources by cold calling or emailing every manufacturer, distributor, or OEM in your market, an inbound marketing approach draws customers to find your product organically online.
From the initial launch to the nurturing phase, these five inbound marketing steps will help answer the age-old question of “how to market a new product?:”
After you’ve established the unique selling points for your new product, it's important to define who this product is for.
A buyer persona, or semi-fictional representation of your ideal customer, is based on data and research. Creating an effective buyer persona involves answering generalized questions about your ideal customer, including:
Your marketing goals will set the tone for marketing messages, strategy, and budget.
The most common method for setting marketing goals is using the SMART system, which means your goals should be:
Using the SMART system helps keep your goals realistic, quantifiable, and qualifiable. For example, instead of saying “we want to increase sales,” set a measurable goal like “we want to increase sales by 15% between Q1 and Q2.”
When setting your goals, ensure they have a beginning and an endpoint and are specific enough to measure over time.
Content is the bread and butter of inbound marketing. Once you have established your unique selling points and ideal buyer, and developed measurable goals, next comes content.
With an inbound marketing approach, it's important to create different types of content to appeal to your ideal customer at different stages of their buyer journeys, including:
The ultimate goal of lead generation is to sell your product. However, to drive sales, leads need nurturing.
According to Woosuites 2022 annual report, lead nurturing helps companies generate 50% more sales-ready leads at 33% lower costs.
While lead nurturing tactics may differ based on your industry or market, they should include
Lead nurturing is a critical part of any inbound marketing strategy that no business can afford to overlook. Among the multiple strategies for lead nurturing, find one that suits your sales team and execute it as smartly as possible.
From designing and manufacturing to marketing, launching a new product requires a lot of hard work.
However, your marketing strategy is as effective as the agency behind it. When searching for agencies to partner with, it’s important to consider your current needs and any future needs that may pop up.
Protocol 80 is a full-service B2B inbound marketing and sales agency that offers a wide range of marketing services including:
We combine exhaustive data research with a “customer education” mindset to build you a fully customized strategy that grows website traffic, generates qualified leads, and increases sales.
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When launching a new product, partnering with the right agency can make or break your marketing plan.
With proven experience helping with new product launches, the experts at protocol 80 are ready to help you:
Interested in seeing one of our new product launch marketing plan examples? Give us a call today!