How to Introduce a New Service to the Market
One of the things I enjoy about being a public relations consultant and LinkedIn strategist is the variety of my work and serving as client’s PR counsel.
When it comes to new business launches, I help to set them up for success. While many marketers still rely on their gut instincts, the most successful product and service launches start with identifying and understanding one’s target audience before the big reveal.
Here are 6 tips to set up your product or service launch for success.
1. Craft a Strategic Communications Plan
This is the who, what, when, where and why of your new product or service, in addition to the timing of the launch.
It will include business objectives, as well as a tactical execution plan for carrying out those objectives. To write this, you should also be well versed in what your competitors are doing, so as to uniquely position your product. Two of the most important elements of the plan are the positioning and key messages. These are the 3-5 core statements that succinctly describe what makes your product or service unique. Once set, you’ll use these in all of your marketing materials and platforms.
In laying out the tactical launch execution calendar, pay close attention to timing so that every element dovetails to build momentum leading up to the introduction, during the launch and after the launch.
3. Press Release
Although press releases are no longer the main vehicle to introduce a new business division, product or service, there is value in letting journalists who cover your industry sector know about your launch. It also helps with search engine optimization. Putting a release out on the national newswire gives you broad coverage and allows you to target specific journalistic “beats” or subject areas such as finance, technology or consumer products. I often use NewsDirect as I like the easy navigation of their portal, distribution and results reporting.
Make sure your release is optimized for digital media and search engine optimization by adding hyperlinks throughout so that no matter where a journalist clicks, they will get an important part of your story. Vary the hyperlinks to include website homepage, a specific landing page, and the LinkedIn accounts of senior leaders or product developers. For publicly traded companies, your release should also include a link to NASDAQ or other relevant exchange. Also include subject tags.
4. Owned Media Platforms
Carefully plan when you will upload the news information onto all owned media platforms. This includes:
- Website and/or landing page
- Company LinkedIn page
- Personal LinkedIn pages: post press release with commentary and save to your featured section (if you’re in Creator Mode)
- Other social platforms – YouTube, Twitter, Instagram, etc.
5. LinkedIn Live
If you’re in Creator Mode within LinkedIn, you have the ability to do live broadcasts – a great way to amplify the news about a product or service launch. My client recently did a Live where the CEO interviewed the new practice area lead and his team. The conversation really brought the service alive and provided an opportunity for viewers to engage and pose questions.
6. Panel Discussion or Webinar
A great way to build awareness and an audience for a new business, product or service, is to stage a webinar featuring your subject matter experts. Set up a registration mechanism to capture contact data so you can see who attended and keep in touch after the webinar.
Is your company looking to raise its public profile and promote its competitive advantage? If so, let’s talk. Click here to schedule a free discovery call today. Sign up to receive our free monthly PR Tips here.