Did you know that 66% of new products will fail within two years? According to Booz & Company research, this is true. A successful new product launch strategy can help you ensure that your new product doesn’t fail. In addition to traditional marketing strategies you’ve used for years, digital strategies are more important than ever. Here’s how to use digital marketing to help launch your new product.
First you’ll need to find out what people are searching for and what keywords apply to your new product to get the maximum results from search engine optimization (SEO). When creating content for your website, insert these keywords naturally within the content. Outside of creating a new product page on your website, here are some other website strategies to use:
Graphics on your homepage
Pay-Per-Click Advertising Strategies
Pay-per-click (PPC) advertising involves ads that show up in search engine results. These ads are exactly what they sound like- you pay for the ad each time someone clicks on it. PPC is perfect for a new product launch because it can provide much faster results than SEO. You can quickly start getting traffic to your new product pages within just a few hours of creating your PPC campaign.
Email strategies take the shape of many different forms. Here are three email campaigns you’ll want to establish:
Announce your new product to existing industry contacts, such as associations you’re a member of and journalists you have an established relationship with.
Email blast information to your current clients.
Send email newsletters with information about the new product, as well as articles about the applications and more.
Social media is how you create buzz around your product. Consider these strategies:
LinkedIn: You can post product updates to your company page, create showcase pages, and share information about the product in relevant LinkedIn groups by touting the applications in which the product can be used.
Blogging: You should use your own blog if you have one, but outside of your blog there could be influential bloggers in your industry that you’ll want to reach out to.
YouTube: Create a video that shows your product in action and/or describes the features and uses.
There are many ways to promote your new product, and digital is an avenue that manufacturing companies need to embrace in order to launch products successfully.
Article submitted by Bank of America For mid-market companies, business success and responsible growth aren’t mutually exclusive. In fact, prioritizing responsible growth is becoming increasingly important, and successful companies are making sustainability central to their growth strategies. Beyond good corporate citizenship, they are recognizing the intrinsic link between the strength of their business and that of the communities and economies in which they operate. Leading your growth with those goals in mind builds resilience and better solutions for the future. Consider the following: Responsible growth companies perform better. Companies that consider the impact of risks and opportunities on the environment, local communities and society may produce better financial results than those that don’t. Additionally, 90% of companies believe a sustainability plan is important for remaining competitive. Responsible growth companies attract investment. A 2016 study by MIT Sloan Management Review and Boston Consulting Group surveyed 3,000 executives and managers from more than 100 countries. Findings revealed that 75% of senior executives in investment firms agree that a company’s sustainability performance is materially important to their investment decisions, and nearly half would not invest in a company with a poor sustainability record. Ninety percent of executives see sustainability as important, but only
HEADLINE The survey definitively shows that product innovation leads to more growth, while “grow your own workforce” strategies will be needed to fill the major labor shortages hampering small manufacturer growth. Emerging technologies like the Internet of Things (IoT), 3D printing, and digital manufacturing are beginning to enhance innovation and productivity, but still have significant room for adoption amongst Ohio’s small manufacturing businesses. ABOUT THE SURVEY Under the direction of the Ohio Manufacturing Extension Partnership (Ohio MEP), MAGNET: The Manufacturing Advocacy and Growth Network conducted a thorough survey of Ohio’s manufacturing base. Contributing approximately 20% of Ohio’s jobs (and driving in some regions up to 50% of Ohio’s economy), and generating a disproportionate amount of export revenues and Gross Regional Product, manufacturing is critical to Ohio. Greater than 95% of Ohio’s manufacturers are small (under 500 employees), and these manufacturers need to remain competitive both nationally and internationally to ensure our economy’s health. Ohio’s Development Services Agency and the National Institute of Standards and Technology, which runs the MEP, recognizes the importance of this sector and fuels MAGNET and the Ohio MEP program to directly serve and support innovation, efficiency, and growth in small and medium manufacturers. What manufacturers need
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