12 Ways to Effectively Promote a New Product or Service

by Kristen McCormick

Coming up with a new product or service is a lot of work, which unfortunately does not stop once it’s ready—launching and promoting it is the other half of the equation. You could be offering the best new product or service around, but if you don’t promote it properly, you’re likely to miss out on opportunities or even end up losing money down the line. With so many businesses pivoting their products and services due to COVID-19 and unable to afford opportunity losses, we thought it fitting to give you some guidance around this topic.

In this guide, we’re going to provide steps and examples for 12 effective ways to promote a new service or product. They include:

  1. Exclusive previews
  2. Introductory offers
  3. Google My Business promotions
  4. Contests and giveaways
  5. Email marketing
  6. Blog posts
  7. Events (virtual and in-person)
  8. Upgrades
  9. Trade-ins
  10. Customer reviews
  11. Social media posts
  12. Facebook ads

So let’s give it a whirl.

The best ways to promote a new product or service

When it comes to promoting a new product or service for your business, it can seem like there are endless options. It can be difficult to figure out where to get started and which methods of promotion will give you the best results. The truth is, there are many low-cost ways to promote your business, and what works may depend on your industry, offerings, and audience. Take a look at these 12 methods below and see which ones make the most sense for your business.

1. Offer loyal customers an exclusive preview

Your loyal customers are a key part of how to promote your product, because they are most likely to not only buy it, but also promote it to their networks. This can take the form of a private, in-person or virtual pre-launch party, an online tour, preview, or demo. Or, it could even be a special invitation to test it out and give feedback. These exclusive offerings are not only a great customer engagement strategy, but they also reinforce how much you value them—and engagement and loyalty are essential for any successful growth marketing strategy.

2. Use a special introductory offer

Rather than just announcing your new product or service, you can make it available as a part of a special introductory deal. This deal can take many forms, including:

  • Discounted pricing.
  • Reduced-rate bundle or package.
  • Joint promotion with a complementary business.
  • Voucher or coupon with purchase.
  • Buy one get one free deal.
  • Double the points if you have a loyalty program.
  • Free gift for every referral.

Whatever your promotion, be sure to emphasize that it won’t last forever. Customers whose purchase power is limited, either by time or inventory, will feel a more pressing sense of urgency to buy.

3. Make use of Google My Business

There are several ways you can promote your new product or service using your Google Business Profile, provided you have a Google My Business account. The first is via Google My Business posts.

When in your GMB dashboard, navigate to the Posts tab. From there you can create an “Offer” or a “What’s new” post.

If you’re just announcing the new product or service, you may want to go with a “What’s new” post. Just remember that Google My Business posts expire every seven days, so you’ll need to repost. On the other hand, if you’re running a special introductory deal, an “Offer” post would be best, as you can set a timeframe. Regardless of which post type you use, be sure to include a picture and a call to action to most effectively promote your business.

You can also promote your new product/service by uploading photos of it to your Business Profile via the Photos tab of your GMB dashboard, as well as adding it as a new item via your Products/Services tab.

Click Here to Read More https://www.wordstream.com/blog/ws/2020/07/29/how-to-promote-a-product

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