Launching a new product can be an incredibly nerve-wracking experience. It can be difficult to predict which products and services that you are looking to provide will be a success, and which your business will have to revamp after only a few months. To make sure that your customers love every new product that you put onto the market, here are some of the top steps that you need to follow.
1. Commit to Research
Before you even think about planning your product, the first action that you need to take is to commit to research. This includes finding out:
- What gaps there are in the market
- What is currently selling or trending
- The types of products that your competitors are producing
- Services that your customers are looking for
To do this, you should consider crowdfunding your product to judge interest, conduct an online survey, speak to potential retailers, and use Google Trends. All of this and more will help you determine whether the product will be a success.
2. Design Your Product
Once you have established whether your product is likely to be successful, you should then think about designing it. There are many different types of software applications that you can use in order to make sure that you are able to accurately commit your design to paper, which is important when you are communicating your idea to potential manufacturers. If you are struggling, you should consider outsourcing or hiring a design team to manage this for you.
3. Bring Your Product to Life
Then, you need to breathe life into your project. Before you create large batches of your product, you need to consider creating a prototype in order to finesse your project and highlight any flaws that may be ineffective. This will also allow you to have a physical object which you can market to retailers. In order to do this, you should invest in materials such as resin moulding, which can help you to create a standardized mold from which your project can come to life.
4. Know What Your Customers Think
There is no point in creating the product of your dreams if it does not appeal to your customers. To make sure that you are launching the right type of product, you should request feedback from customers before you bring your product to general sale. You can do this by using early customers to test your project and to find flaws and discrepancies that may only come to light during continued usage.
5. Attract Attention to Your Product
Once you have developed the perfect product, you then need to attract attention to it. You can do this by creating a ‘Coming Soon’ page on your website that develops a sense of mystery and excitement around next year’s best-sellers, and opening up for pre-orders, which will help you to garner sales as soon as your product is released. You should also consider sending it to influencers who can start to promote and gather interest around your product in a more natural setting.
