8 Ways To Effectively Market A New Product

No matter how good your product may be, without the proper marketing your business will not turn a profit. Though marketing can seem complicated to new entrepreneurs, there are a number of different ways that you can reach your target customer base without spending a lot of money. If you have just launched a new business or are adding a new product to your product line, consider trying one or all of these 8 ways to effectively market a new product.

  • Send out an email blast. Email is a fast and inexpensive way to reach thousands of customers at once. If you can afford to, buying qualified email lists is a good way to find even more potential customers.

  • Reach out to potential customers on the phone. The reason why so many telemarketing companies still exist is that this remains an effective way of relaying information to clients.

  • Increase your online presence through paid advertisements. Whether you use ads purchased on search engines or buy advertising space on websites that are frequented by your target customers, this is a good way to get your message out to the right people.

  • Host an event. A product launch does not need to be a big, expensive affair. Simply by setting up a table at a local restaurant and reaching out to all who walk in, you can increase your product’s exposure. During that event, make sure that you give out your embossed business cards and other professional business cards.

  • Send out a press release. Writing press releases is easy and templates for effective ones can easily be found online.

  • Write informational articles and post them online. Unlike other types of advertising, these articles can often be posted at no cost to the business owner and will often rank high on the list of search results.

  • Give away free samples. This works especially well if your product is small and low cost.

  • Create a website. No matter which other steps you take, it is absolutely crucial to establish a web presence for any product that you are trying to sell.

Product Roadmap Planning And Design For Small Software Companies

Small companies and start ups often struggle to finalize a product roadmap design. In this post I’ll show you how to plan out plenty of your ideas, making market research and finalizing some of your product roadmaps it.

It is usually down to the founder or CTO of startups to bring together product roadmaps. The starting point is working through all the various ideas you have for new features are product lines. This can incorporate new technologies, elements of your business development strategy, competitors feature lists, etc.

It makes sense to then organize these ideas according to market. This helps define what products can be potentially created for each market space. If you have a marketing expert on and then you should then find out what the potential of each market is based on customer size, penetration rates and return on investment. The level of competition should also have a bearing on whether you consider these markets or not.

At this stage you are now able to start formulating a product roadmap based on a short list of markets and associated ideas. Start by looking at short term goals for one or two products in the one to two year time-frame. Longer-term opportunities should also be detailed especially if your product roadmap is going to be submitted to venture capital firms for funding decisions. This sort of forward planning shows that you’re thinking about future product lines and target markets.

Long-term opportunities may also consist of some of your architectural decisions relating to product variations that can be implemented at future stages. These do however need to be considered in your short-term goals about any product design choices you need to make upfront.

You then have to have your product roadmap reviewed by internal employees and colleagues. Establish if the roadmap contents fit in with your own business development strategy as the company grows.