Cavaon is Sydney based online business solution specialised in building digital strategy and products to clients in need to reinvent their business model, moving rapidly from ideas to plans, and growing their competitive advantages.
LEARN MORE
Launching a brand involves everything that comes after choosing the product. Planning, strategy, goals and objectives are keywords that should guide this step, which also involves the identification of buying personas and knowledge of the market niche.
The launch itself is a great challenge for all the entrepreneurs around: this moment can directly impact the company’s success, predicting its performance. Having said that, we have gathered 5 essential steps to help you when launching a new product or business.
To better define the concept of the product, the first step is to define who the consumer will be. Try to establish as much detail as possible, as a specific profile makes it easier and cheaper to apply marketing actions. At the time of the research, both quantitative and qualitative aspects must be considered.
A great option is to conduct market research. At this point, the main characteristics of the product can already be traced. It can provide very important data, such as how the product will be received in the market and even the price that the customer is willing to pay.
For the search to succeed, remember to collect the data only from people who will be completely unbiased. Follow a basic road map of simple, unbiased questions that meet all the points you want to spot. Afterward, tabulate the results.
The sales plan covers the following steps: goals, strategy, deadlines, and growth:
Goals: It’s basically how much you intend to sell – preferably in the short term. Goals should be specific, measurable and should not run away from reality;
Strategy: Choose the best strategy and tactics, defining them according to the platform in which it will be carried out;
Deadlines: Be aware whether you are achieving success or not (and correcting problems, if any). These must be realistic and specific;
Growth: This is the percentage of sales you intend to increase in the long run. Just like the other items, it should be realistic.
A great alternative to ensure your investments are not wasted is to conduct tests. Produce a small batch of products and allow the consumer to try it. Thus, it is possible to make sure that the merchandise will be accepted in the market at the time of its official launch.
For a new product to gain a significant market share, marketing actions offer great help. A very interesting channel is digital, so take advantage of all the benefits offered by social networks. These channels can deliver great results and does not require as much of your budget.
Some tips are: perform expectation actions (make clients feel part of that moment and wait for the launch, with polls or contests, for example.); generate rich content (relevant and educational content makes people more interested in the brand); produce creative videos, etc.
It is imperative to take into account consumer opinion. Feedback is the best way to measure the results of your investments. More, it allows the company to establish what changes are needed in the product. Knowing the facts, the brand can improve quality and acceptance in the desired market.
As you might know by now, there is no magic formula for success. However, there are several actions that facilitate the way to achieve it. Get to know your brand, your company, and especially your consumers. These factors must essentially be considered as they can ensure success in launching a new product.
Still not sure on how to launch a successful brand? Cavaon can help you step by step, starting from strategic planning, web development to graphic design and marketing strategies.
