Everybody who launches a new product, from Proctor & Gamble to a couple of college grads who thought it up at a bar, is convinced they’ll be rich. If they didn’t think it would sell, they wouldn’t try. Look at some of the morons on Shark Tank. They all believed in themselves and their products and in all fairness, some are really good ideas and prove successful.
As you develop your new idea, or even as you go through your marketing checklist to evaluate strengths, weaknesses opportunities and threats, go through this checklist and take a realistic look at what you’re doing.
DOES IT SOLVE A PROBLEM?
Look at a new product like Swoon. Women feel ripped off that they can’t get that last bit of gloss at the bottom of a lip gloss tube. Swoon solves that problem with a new applicator designed to do just that. You can see the fun, animated video Supercool Creative Agency produced for Swoon below.
Or look at a product like FiberFix. People break stuff, don’t want to buy new stuff, and would rather fix it. Granted, the process seems clunky but it solves a problem. So did cars. Cars kept horses from having to carry people on their backs and they eventually went a lot faster. Trains and airplanes went even faster than that. Solved a problem.
Does your product solve a problem or make people’s lives easier?
DOES IT HAVE THAT COOL, FUN FACTOR?
Look at Silly Bandz or Rainbow Looms – they didn’t solve problems but they were catchy, smart and fun! My nieces love them and so do I.
Pet Rocks were also huge once along with Chia Pets. You can still buy a Chia Obama and now it turns out that Chia is good for you so after you’re bored of looking at him you can sprinkle Obama’s hair on your tuna salad.
HAVE YOU MADE A FANTASTIC VIDEO?
Show what your product does, and include a call to action for potential buyers to both learn more and BUY! This doesn’t necessarily have to break your budget, and with all the distribution channels out there like YouTube, Facebook, Twitter, Pinterest, Instagram, online video advertising placements and even broadcast, if your budget is substantial, you can reach millions of potential buyers.
Videos can be live action, animation, funny, cool or even serious. Here’s the animated video we wrote and produced for Swoon:
DO YOU HAVE A GREAT PITCH PERSON?
Put a face to the product, whether you’re a brand or a start up.. Show excitement. If you believe, they’ll believe. If you don’t have someone in your organization that’s up to the task, hire a Social Media Agency to hype it for you!
Work your PR angles and get featured on TV, radio, magazines and social media channels. The orders will flood in… provided you’ve satisfied #1 and #2.
Invest in social media influencers to help push your product. Pay them if you have to. Do it! It’ll pay off.
You can even put yourself in the video, if you’re cool and charismatic enough!
HAVE YOU PRICED YOUR PRODUCT PROPERLY?
Unless it’s the holidays and you’ve just invented the Cabbage Patch doll, (anyone under 20, look it up), consumers will weigh price along with value… guaranteed. In fact, a guarantee isn’t a bad idea, depending on what you’re selling.
If this all seems like a lot if work, contact an agency that specializes in digital marketing planning. The right agency can guide you from concept to creation to marketing and give you a valuable outside perspective!