Consumers witness thousands of new product launches every year. However, not every product launch is successful. Lack of preparation causes most new product launches to fail.
You can avoid such instances and instead drive your ROI (Return on Investment) with effective PR strategies. An efficient PR agency can help your business design and implement robust strategies.
Read on to know the best PR Strategies to drive massive ROI from your new product launch.
Promote Effectively on Social Media
Begin promoting your new product before its launch on social media. Make sure to post valuable content consistently. With millions using social media, you will soon attract your target audience.
Utilize the promotional tools on Twitter, Instagram, and Facebook to be visible to your target audience. You can post engaging content on your new product. Get creative and post attractive teaser clips.
Plan a proper schedule to post relevant and timely content. It builds interest among the users. Your reachability is wider on social media, and more audiences will be aware of your product launch. By building the buzz around your product, your ROI eventually increases.
Send Newsworthy Content to Industry Magazines and Websites
Potential customers who may invest in your new product will most likely browse through industry websites and magazines. They tend to look for efficient, latest products.
You can create newsworthy content about your new product and send it to such websites and magazines. Valuable and relevant content helps in grabbing your target audience’s attention.
Press releases and guest posts help in generating more customers and subsequently increase your ROI. You can base the content on your product’s significant milestones, or the customer needs it solves. Human-interest content about your products is also beneficial.
Make Your Product Launch an Event
Try to make your product launch a big event. It has a more significant impact. Having a whole event around your new product creates more buzz. You can compel attention to your new product effortlessly.
The media and your potential customers take your new product launch more seriously. It reflects positively on the product sales. Ensure to make the event interesting.
If you have a limited budget, you can partner your new product with a local festival or event. It allows customers to know more about your product. A PR agency helps you plan the event to attract customers and promote your new product.
Bring In Influencers
If it fits your budget, try to bring in influencers to your promotional campaign. Convince the influencers to support your new product by informing them about your product’s features and potential.
Make sure to keep the following factors in mind to find the right influencers for your product launch:
- Followers who are your target audience
- Knowledge in your industry
- Audience engagement
- Compatible interests
Influencers help in promoting your new product among their followers. Generally, the followers of influencers are very loyal. Genuine feedback from the influencer can motivate them to invest in your new product.
Experienced PR agencies help you find appropriate influencers. They also help you curate practical proposals and content to convince the influencers.
Make Special Offers
Offering something special or beneficial attracts more customers. You can offer special discounts for the first few purchases. Or hold a contest and reward winners with exciting prizes.
Make sure to promote your offers effectively through traditional media and social media. You can inform your current customers about the offers through emails and promotional messages.
You may also partner with another reputable company and host a joint giveaway session. The news creates more buzz around your new product launch. You also expand your reach by connecting with the other company’s customers.
Build Good Media Relations
Create a plan to build good media relations with the local press. It helps in receiving good editorial coverage for your new product launch. The target audience becomes more aware of your product.
Media also acts as a credible source for information on your new product. Generating audience trust boosts your sales. Send a press release about your new product launch, its features, and its benefits to local media.
Make sure to send a good email pitch along with the press release. The pitch can include your new product image and the offer to send the product for media review. Local media may accept the offer and test your products.
The feedback can be valuable in promoting your new product launch. It motivates your target audience to purchase your new product, and your ROI increases.
Efficient PR strategies help in making your new product launch a massive success. You can hire a professional PR agency to come up with good PR strategies. It boosts your ROI rapidly.