Launching a brand new business is such an exciting adventure to embark on, but it can also be a terrifying one if you don’t know what you are doing. The modern consumer is vastly different from the consumer from 5 or 10 years ago, and capturing their attention is no easy feat.
In the coming few weeks, you will be swamped with things to do and people to see, and you will be making decisions at break-neck speeds. Do not let this process intimidate you; the key to success is to be confident in every choice you make.
Your launch needs to be memorable and executed perfectly for it to work and yield the best results. This article will provide you with six of the greatest ways to break into the market and make the most impact on your potential customers.
1. Have A Game Plan
If you are one of those people who think that they do not need a plan and can simply wing everything from the start, you are about to get hit with a truth bomb.
Launching a business takes time, money, and every bit of effort that you can muster — it is not at all a process that you can bumble your way through. So, sit down and come up with a detailed plan to ensure your launch is nothing short of a raging success.
By figuring out the how is and the why is right from the start, you will be better prepared to deal with things if they go wrong — and something is bound to go wrong. No launch is ever perfect, and by having a plan in place, you can figure out your backup plan with relative ease.
2. Know Your Market
This tip will save you so much time and money. Your target audience, particularly for a niche service or product, will respond to the right campaign for your launch. For example, younger markets will require you to rely heavily on social media to create a pre-launch buzz — if you advertise in newspapers alone then you will be dead in the water.
By having a clear understanding of your market, you can target campaigns around their demands and find a launch strategy that will be irresistible to them.
3. Focus On Your Customer
Your business plan should not only center on making sales. You need to carefully consider every aspect of your customer’s experience with your brand. Start with first impressions like social media and your website.
Your customer’s journey needs to be seamless long before you can even think about setting a launch date. Choose a few employees and friends to do practice runs with, this strategy will help you to fix problem areas before you go public.
4. Plan An Epic Event
There is no better way to launch a new business than with an epic event. If your target market consists of an audience under 40, you need to blow them away with an event that is so trendy that they will not be able to stop talking about it.
That will create hype and a brilliant buzz for your brand that will be vital to its success. Rent commercial party tents and plan the event of the year. Launch your brand to a select group of target customers at first, which will create a sense of exclusivity and have people begging to be included.
5. Incentivize Referrals
Many studies have proven that consumers are almost four times more likely to use a service or purchase a product if it has been referred to them by a trusted friend or family member. It is tacky to just ask your customers to refer you to their friends; there is a fine line between a marketing strategy and just looking desperate.
The most effective way around this is to launch your business with an excellent referrals program. You can either offer a discount or a voucher to customers who choose to refer you to their friends and family, just make sure that those referrals purchase from you too — you can build that into your terms and conditions.
6. Use Influencers
Using digital and social media influencers to get the word out about your brand is the best way to break into a new market. Influencers know their audience and what they respond to the most, so ask them for advice and implement their suggestions.
Launching a new business doesn’t have to be a terrifying endeavor — you must stay calm and do the best you can.