How to Market a New Product or Service

So, you’ve created a new product or service for your company. How exciting! You’re done with the product development and you’re ready to launch. However, the hard work is far from over. Now, you need to promote your new offering. You might have the coolest new product or service in your industry, but if you don’t market it to your customers, few people will buy it. If you need to market a new product or service for your company, we’ve come up with a list of ideas for how to help you market it.

how to market a new product or service

Best Tips for How to Market a New Product or Service

Particularly during the COVID-19 pandemic, many companies shifted their focus and began offering new or different products or services. That’s why we decided to create this blog post on the best marketing ideas for how small businesses can promote their new products and services to your target audience. There are an abundance of options. This list can help you narrow down the best choice (or choices) for your business.

Offer a Preview to Loyal Customers 

This promotion is a win-win for both your business and your customers. Your customers are key because not only will they probably purchase your new product, they will also promote it within their networks. Consider having an in-person or virtual preview event, creating a custom hashtag, and hopefully your customers will post all about it on their social media platforms!

Try a Special Introductory Offer

Instead of simply announcing your new offering, consider making it available as a new introductory offer for your potential customers. This offer can come in any format, like:

  • Discounted price
  • Reduced-rate bundle or package with offer popular products or services
  • A joint promotion with a complementary (but not competing) business
  • Voucher or coupon with purchase
  • Buy one, get one free
  • Double points with purchase if you have a loyalty program
  • Free gift for every referral

No matter which promotion you choose, make sure to note that it is for a limited time only. Your audience will be more likely to purchase right away!

marketing a new product

Use Google My Business

Google My Business is a great tool for promoting your new product or service. (First, you need to make sure you have a GMB page!) Google My Business has an option for a “What’s New” post on your page. This is a great way to introduce a new product or service. Everyone who Googles your business will see your latest product. Keep in mind that your post will expire in seven days. This makes it ideal for a limited time offer. Don’t forget to include a photo and a persuasive call to action, too.

There are other ways to add your new product or service to your GMB page. Be sure to upload some photos of it to your Business Profile on the Photos tab. You can also list it under your Products/Services tab. You can even post an FAQ on the new offering in the Google My Business Q&A section. Or, use all of these tactics to really promote the new product!

Post on Social Media 

Spread word about your new product or service on your social media platforms. This is an easy (not to mention free) way to get the word out about your new offering. Your followers can ask questions about your product or even share their excitement about the new product on their own profiles. You can also create a custom hashtag to promote the new product!

Run a Social Media Contest 

Speaking of social media, a social media contest is a fun and simple way of promoting your new product or service. They also bring in lots of potential new customers, get engagement on your social media pages, and drive more traffic to your website. You can offer the winner a chance to try your new product or service for free.

If you want to run an effective social media contest, the key is to promote it across all your platforms, not just on the one in which you are running the contest. For example, if you run the contest on Facebook, be sure to advertise it on your other social media platforms, your website, your email newsletter, etc. You can even run paid ads on various platforms to promote the contest!

tips for marketing new products

Run an Email Campaign 

Email marketing is popular for a reason: because it works. Try running an email marketing campaign specifically about your new product or service. You can try sending out a series of emails leading up until the release.

Write a Blog Post 

If your website has a blog (and it should!) try writing a blog post about your new product or service. Focus on the benefits of the offering for your customers. Go in-depth about all of its features and details. Then, share the blog post on your social media channels or via email marketing.

Write a Press Release 

If your new product or service is newsworthy at all, write a press release and send it out to all your local publications and any that cover your industry and might be interested in writing a piece about it.

Host an Event

An event is a way to celebrate and promote your new product or service, and also helps you build a relationship with your clientele. Your event doesn’t have to be fancy. It can match the tone of your business. For example, you could host an open house or informational session.

Here are some examples of promotional events:

  • If you want to go virtual, try hosting a Facebook Live and demoing the product and highlighting its features.
  • Run a live Q&A on Instagram on the product or service.
  • Choose an influencer to co-host the event with you!

new product promotions

Offer a Free Upgrade

If your business is service-based, like a spa, salon, or gym, try offering a free upgrade to your existing clients. Let them try the service, and hopefully they will tell their friends! Plus, they’ll get hooked and want to try it again next time.

Offer Free Shipping

If your business is product-based, offer free shipping for every purchase of the product for a limited time. This will encourage patrons to give it a try.

Allow Trade-Ins 

If your new product is an upgrade of a similar yet older one, consider offering a trade-in program. A trade-in program works well because your customers are likely to purchase the new version of the product they already have. Also, you might be able to resell the old trade-in products if they are in good condition, or use them for giveaways.

Share Customer Reviews

Why do all the promoting yourself if you can let your customers promote your new product or service for you? If you try some of the strategies we already suggested, like offering a free upgrade, ask your customers to write a review online or provide a written testimonial. You can then put these reviews or testimonials on your website or social media. This is a very effective tactic because 84% of consumers trust online reviews as much as recommendations from their friends.

Check Out the Competition

Have your competitors launched any similar products? What was their marketing strategy? You can take inspiration for how to promote your product from other sales teams.

Run PPC Ads

If you want to promote your new product to a larger audience, run PPC ads and create a landing page. PPC ads are a great way to supplement your other marketing efforts.

Best Way to Promote Your New Product or Service

The best way for your company to promote its new service or product depends on several factors, like which platforms your target market uses and what their online behaviors are. It is ideal to choose a few different strategies and cross-promote in order to reach your ideal customers. The best marketing campaign will have a coherent voice throughout.

how to promote a product

Marketing a New Product or Service with SEO Design Chicago 

If you still need help marketing your product or service, contact SEO Design Chicago! We are digital marketing experts who can help you plan the perfect product launch. Our team can create marketing materials and design a plan to help you promote your new offering.

FAQs:

  • How do you market a new product?
  • How to introduce a new product?
  • Can I post my new product or service on Google My Business?
  • How do I promote my new product on social media?
  • What is the best way to promote my new product or service?

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