Are there any prerequisites for launching a product with a lot of booms? If you think that you don’t have a lot of money and a team during the launch will not give a kick-start to your start-up, then it’s an illusion. You might have witnessed that celebrities/politicians accompany the writers nowadays on the launch day but they are unable to sell no more than thousand copies but at the same time, many young writers just use the inexpensive ways of marketing and advertising their piece of work and further won awards. Because the the creative ways of popularizing along with the quality of the product makes it successful.
So, here we have listed down few inexpensive ways to launch a product or service.
Cost-effective Ways To Launch A Product
Kickstart with the Social Media
Social Media platforms like Facebook, Instagram, LinkedIn has evolved over the years. There is no limit of success because the target audience of a businesses is already there. Even some of the platforms like Instagram, Facebook has allowed businesses to sell their products directly to the audience by using some features. For E.g. you can use the shoppable post feature of Instagram to tag your product links which will help the user to buy products directly from your online store.
While Social Media platforms will play a major role in grabbing customers, a blog will be the ‘unsung hero’ of your success. You can detail about your firm and product without any cost. Become a guest writer in popular blogs and try to collaborate. Get featured in top-notch online publications. Attend Trade shows and seminars to connect with bloggers who can get you featured on different blogs. You can also videos and upload them on different channels.
Give value to people for free
It might seem like a pain to be doing things for free, but this can add incredible value to your product in the long run.
When people pay for something, it gives those people a sense of accomplishment, pride, and ownership, meaning they’ll value the goods or services more and complain less.
Want to build a community? So, approach businesses who have already established their community and ask how you can help them. This might be through offering content that makes them look great, but also exposes you and what you have to offer to their big audience. This is a great way to build relationships. If you’ve got no budget, you need relationships.
You might be thinking why you should do something for free, but trust me you are not doing anything for free. If you follow this method you can earn currency and that is email addresses. You can use those email addresses for marketing or building your brand if you think that you have something that people want or something that can give value to their life.
Host a Giveaway Online
Giveaways can be an easy marketing strategy to promote your product launch, and in a relatively short amount of time too. Everyone loves to receive gifts; as a result, giveaways tend to generate quite a large amount of responses. While giveaways have their drawback of attracting people with little interest in your company besides the free goodies, the strategy itself is one with immense potential.
For example, if you can create your sweepstakes with clear objectives and requirements, that is a method of giveaways where you can choose a winner randomly. No purchase is necessary to enter sweepstakes.
Crowdfunding is an innovative way to provide a modest amount of funding to young entrepreneurs and technology professionals needing an early stage or seed capital for start-up companies. Which may spur entrepreneurship and ultimately assist in boosting the growth of the real economy.
A company raising funds through online crowdfunding platforms or websites offers equity or debt interests in its business to investors who make small contributions, through a crowdfunding platform or social media. In most of the cases, funding is sought online based on future projections rather than a viable business model in operation which increases the risk of failures and therefore a loss to the investors.
You can use a social media platform like Facebook for your crowdfunding campaign. But you can't raise funding using your existing network. You have to build a community of people who can raise fund and also interested in new ideas. You can create a Facebook Page for your crowdfunding campaign, it will help you to reach more and more new people.
Some of the other Crowdfunding platforms you can look at are:
Also read: How Crowdfunding Works
Promote your product through Influencers
If you are a new brand and launching product for the first time then you might don't have a reach to a larger audience. Influencers are the people who have a big audience, a lot of fans or followers who follow them and trust their words. So this will be like a trust-based campaign for you because it is really to promote anything through an influencer. You just have to build the relationship with the influencers by giving any type of offer like a special discount, holiday trip, cash prize etc. The best thing about it is, influencers can give a quick response to any type of product launch as they get an immediate response on any endorsement and recommendations from their audience.
Anything that spread like a virus or person to person easily is called Viral Marketing. This term is specially used in social media because anything that goes viral starts with sharing and it is only possible on social media.
In many cases, a private user uploads a content that receives a huge response and a lot of sharing and that is how the content goes viral within a short period. But you can also plan it and run a successful viral marketing campaign.
Make a video on some trendy topics or you can also make the video on an unrelated niche, wait for the right time to post and drive some traffic through paid ads. This way you will be able to make the maximum impact of the campaign. But make sure that the content is not going to backfire you because in a viral marketing campaign user is the pilot and they have the power to do anything with that content.
Also read: How to make your Video go Viral
Nowadays people prefer video content more than text content. Video marketing simply means that you are branding your product through videos. You don't need a high budget for making videos. Start from your mobile camera and try to make interactive videos that can explain about your product appropriately. You can also make "How-To" videos of your products and upload them on YouTube so that you will be able to generate a lot of traffic to your product.
YouTube is the second largest search engine after Google and the best thing is that its is free for everyone. So, you can take advantage of this new era and keep updating yourself and the way you operate a business with time.
All these ways of launching a product are cost-effective that means it will save your money but make sure you are ready to invest your time. All these methods will take a lot of time and effort. But at the end, they will very helpful to launch your product into the market.