When developing a new product marketing plan, you have to take a few steps to ensure that the plan is solid. You also need to make sure that you are consistent with your product marketing plan. In this article I will briefly discuss three of the most important factors in developing a new product marketing plan.
The first thing you need to do is figure out what it is that you are trying to accomplish with your marketing plan. It might be to just market a few products, try to build up your business, or maybe it is to generate some sales for an existing product.
Why Marketing Plan is Necessary?
Depending on your product, you may be able to get away with a free marketing plan. For example, if you sell a catalog online, you could choose a product that only costs $35 and try to find a way to get more people to check it out.
If you are selling a book, you might be able to find a publisher to allow you to test out your new product by offering a free sample.
Sometimes, the only reason you can’t market your product through this method is because you are not the right person to sell it. Maybe you can’t afford to invest the time to build a mailing list or maybe you just don’t know enough about product promotion to market it properly.
- Once you figure out what it is that you want to accomplish with your new product marketing plan, you need to develop a plan to do so. This is very important. Do not just jump into developing your plan; consider what it would take to pull it off.
- A good way to do this is to write down how much money you expect to make per month from your marketing plan.
While you will not know exactly how much profit you will make before you launch, you should be able to ballpark it before you begin your marketing plan. Also, set a goal for how much you are going to make in one month.
This may seem like a very long process, but it actually is very simple, and it needs to be followed consistently. You need to find a few things that will be beneficial to you.
These include:
People to promote your product – If you are going to market your new product on your own, you need to find ways to attract people to it. I suggest that you focus on a couple of different methods and offer both free and paid advertising.
Products that are already out – If you already have a product to market, you may not have as many options as someone who does not. The key here is to find other people who have an interest in the same product and contact them with your marketing plan.
Networking and referral marketing – Find people in your area who you think will be interested in what you are promoting. Ask them to refer people to your marketing plan.
Generating leads – Make sure that you are generating leads for each product you have. If you cannot find a way to generate leads for all of your products, then you need to change the way you are marketing.
Conclusion
When developing a new product marketing plan, the above three strategies are a great place to start. You don’t need to spend lots of money to develop these strategies, as they are simple to implement.
Also read:
Strategic Versus Tactical Business Planning