10 Tips For Launching New Products And Services At Your Small Business

Posted by Karen Erdelac on Jan 19, 2018

10 Tips For Launching New Products And Services At Your Small BusinessWhen it comes to launching new products and services, it can be difficult for small business owners to garner the exposure needed to be successful. However, with advancements in technology, there are many affordable avenues to go down when promoting your product launch.

1. Video Demonstrations

Video is all the rage these days and has become a great way for small businesses to connect with their customers. Video demonstrations allow you a chance to show that your product works, how to use it and how it stands to benefit the consumer. In most cases it is best to hire a professional to shoot and edit your video, but there are ways to utilize video without breaking the bank.

2. Ecommerce

If your company already has an ecommerce store, you’ll want to highly promote your new products on your ecommerce pages. A special promotion or bundle deal can help your product get off the ground and build steam online.   If you’re not currently utilizing ecommerce, a simultaneous launch of your new line and ecommerce site could be in order.

3. Live Streaming

Facebook Live has already become a widely used tool by opportunistic small business owners. Simply setting up your phone or laptop allows you to reach your audience in real time. This is a great tool to launch your product and allow those who don’t reside in your local market to participate.

4. Website Content

If your small business doesn’t have a website yet, it’s time to get started. Provided you have a website, you’ll want to develop a variety of content to promote your new product. This can include blogs, infographics, videos and banner ads. This will let your visitors know about your launch and provide you with diverse content to distribute throughout the web.

5. Social Media

10 Tips For Launching New Products And Services At Your Small BusinessSocial media is an essential tool for small business owners these days and harnessing its power to promote new products is essential. Posting your website content, utilizing paid ads and running social media only promotions are all great ways to build excitement prior to launch.

6. Industry Events

Industry events have long been a preferred forum for small business owners to unveil new offerings. If your product launch coincides closely with an industry event, you may consider becoming a sponsor to give your launch a pre-made audience filled with industry experts and potential customers. Just be sure your product is ready to go and your presentation is on point.

7. Promotional Items

Small, useful promotional items are a great way to build brand recognition and can help get new products off the ground. Items like key chains, zip drives and T-Shirts all help to bring your company exposure. These items stand the test of time and can bring in business for years to come.

8. Package Deals

If your have current products that compliment your new line it may be a good idea to package them together. This can help you move inventory and provide value to your customer. Be sure the numbers work and you aren’t cutting into your bottom line.

9. Host An Event

If you have the space or can afford a venue, hosting your own event is perhaps the most engaging way to launch a new product or service. You could include live entertainment, games, raffles and of course food. This is a fun way to gain exposure for your brand and new lines.

10. In-Store Raffle

In the weeks leading up to your product launch, build the buzz by raffling off one of your new products or services. Start selling tickets well in advance and then announce the winner the day of your product launch. This will build the hype and also draw in customers before and after you roll out your new offerings.

With over 12 years in the business, Quikstone Capital Solutions has proven to be a trustworthy and knowledgeable lender specializing in small business funding. Over 60% of our clients are renewals looking to continuously grow their business. Whether you need cash to cover unexpected costs or if you’re looking to make long overdue improvements, Quikstone Capital can help

Click Below For More Ideas To Grow Your Small BusinessSmall Business Investments

Topics: Small Business, Specialty Retail