Small businesses and start-ups do not have massive budgets to run a full-scale product launch event like the big corporations. That does not mean that smaller companies cannot promote their products with great flair as well. Here are some innovative tips to promote a product on a limited budget:
Hold a Formal Product Launch Presentation
Smaller companies can hold presentation events to introduce a new product to people interested in the industry. Rather than the customers, this presentation should be aimed at other businesses and industry notables who might be willing to promote your product for mutually beneficial ends. This is a formal event, so book a nice place in your local area, such as conference venue Geelong for example, for hosting. Make sure everyone attending can easily get there during rush hour. Don’t forget to hire a catering service to offer food and beverages to the attendees.
Throw a Party
Presentations are for formal audiences; for informal audiences, such as business partners and loyal customers, you should throw a party. Make the new product the theme at this new party and allow everyone to try it. However, rather than a marketing ploy, the party should come out as a celebration of your start-up launching a new product. It’s best to keep it semi-formal just in case. Make it an opportunity for further promotion of the new product.
Organise a Free Giveaway
The best way to engage new customers is to offer your product, or at least some of it, for free. Free giveaways are great to generate hype for a new product and to engage customers almost instantly. You can make it a competition or like a sweepstake so customers are even more intrigued. Also, facilitate reviews from the customers who got the free product to encourage trust in the product and boost sales.
Samples are slightly different from free giveaways. With giveaways as your promotionaltool, you give the entire product away, whereas you offer samples to allow customers and colleagues in the field to test your product. Free samples can be offered with no need for competitions. It should be a genuine effort to get reviews and sort out errors in the product before the final launch. However, even samples can be marketed as giveaways to get your product name trending on the web.
Tease on Social Media
Do not forget to offer hints and clues on social media channels ahead of the final reveal of the product. These tease campaigns should be well strategized just like a marketing campaign. The goal is to build anticipation, so it drives sales upon launching.
Get News Coverage
The best way to create awareness regarding your product is to get news coverage. First, find out whether your product is actually newsworthy. Does it involves new technology, or does to product meet a certain demand? Find out something unique about your product and write a press release,or have journalists write about your product.
Make Testimonial Videos
In addition, you can make videos of customers using the new products and speaking of how beneficial it had been. You can either team up with customers who have used the product, or do it like a regular advertisement. Videos are excellent tools to promote brand and product awareness.
With the above tips at hand, you will be able to promote your product beyond belief.