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 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 to loyal customers reinforce how much you value them and also help to retain their loyalty.
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.
4. Run a social media contest
Social media contests are a fun, easy way of connecting with customers and bringing in more fans/followers and prospects for your business. Facebook contests garner an average of 34% new customers per campaign, which is a great way to combat the platform’s low organic reach.
As far as positioning is concerned, the winner(s) of your Facebook or Instagram giveaway should gain the opportunity to be the first to get their hands on your new offering, and get it for free or at a discounted rate.
5. Spread the word via email
Did you know that 82% of consumers open emails from businesses, and that 76% of email subscribers have made purchases from an email marketing message? Email is a fantastic channel for getting the word out about your new product/service. Plus, it makes a great incentive to get subscriber signups in the first place.
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