Refining your go to market strategy will have a significant impact on sales in both the short and long term. Determining your target market, having a unified approach and leveraging multiple channels will ensure the success of your product launch.
Determine Your Target Market
To avoid wasting your budget and to have a successful product launch, you must first determine your ideal target market. Marketing initiatives that focus on a niche market that is a true fit for your product are far more effective than those that involve a broad sweep of your entire potential market. Detailed research will be needed to refine your target audience. Once you’ve done so, you should further segment your targets in order to create messaging that speaks directly to the industries, job roles and geographic locations they occupy.
Align Sales, Marketing And Product Development
If each of these departments is focused on a different segment, your product launch will be ineffective and inefficient. There has been great discussion about aligning sales and marketing, but product development must be included as well. Ensuring your products are designed, marketed and sold to your ideal target market will ensure efficient campaigns and satisfied customers. A great deal of collaboration, discussion and closed-loop reporting is necessary in order to truly align all three departments.
Build Hype And Awareness
Prior to the launch of a product, awareness around that product and its release date should be built. Each product launch should be treated as if you are launching a startup company. Brand awareness campaigns should take place across multiple channels and be aimed at the problems your product solves for specific organizations. Social media campaigns, email blasts, webinars, videos and even direct mail campaigns can all be effective in building the hype for a new product.
Heavily Market Your Product
Marketing campaigns that encompass both inbound and outbound strategies should be deployed to generate both short-term and long-term demand. Outbound tactics such as teleprospecting, email blasts and direct mail will help to generate immediate leads and get your launch off to a fast start. Inbound campaigns involving blogging, premium content downloads, social media and email nurturing campaigns will help to generate leads over the long-term and create a steady stream of lead activity. Blending the both inbound and outbound tactics will ensure you’re reaching the entirety of your target audience through their preferred channels.