fbpx

Afraid of a Failed Launch? Here’s How to Sell with Success

Even if you create the most convenient, affordable, and attractive product or service known to mankind, it can’t sell itself.

Prev2 of 2Next
Use your ← → (arrow) keys to browse

2. What is the Press Strategy?

Having a good angle to take to the press can go a long way in free publicity. A new product must always possess a newsworthy PR factor. Publicity will come from factors that attract and engage the public and media. For example, Zappos sells shoes, which isn’t a new idea. However, the way it approaches sales, with an emphasis on quality customer service, increased the company’s popularity.

3. What is the Long-term Strategy?

After deciding on your press strategy, focus on your long-term strategy. One way to forge a path for your company’s future is to track everything from the beginning. Analyze your sales and customer data from the start. Make changes in your advertising or management strategies as needed. This separates the winners from the losers in today’s cluttered and competitive market.

4. What is an optimal Pricing Structure?

Fortunately, a product’s cost is not set in stone, even after the first sale takes place. This is a good way to gauge customer response and test marketing strategies. The last thing a company should do when launching a profitable product is marry itself to a price point. Invest time in a test market phase, see how consumers respond to pricing, and use that information to price your product in the future.

Stay in Business Long Enough to Make a Profit

The cost of staying in business long enough for a product to take hold (also referred to as the tipping point) might be the hardest part of new product development.

When launching a new product aggressively, companies might assume that high-volume sales will begin as soon as the product is available for sale.

Since this is usually not the case, your company should have enough existing cash to ride out this phase. It’s difficult to predict how long this period of time will last. This further confirms why preparation and existing capital are important for product launch success. Without this, monthly expenditures could lead to bankruptcy.

 

All of the aforementioned tips require your company to take serious preparative measures to guarantee a product (or service) launch success.

Gathering customer response, obtaining more capital, designing a new revenue model, or creating a more newsworthy PR angle for your offering are primary ways you can prevent failure to launch. Ensure your company’s future achievements today by deciding what makes your services profitable. Then, launch your venture with confidence.

Connect with Brendon on Twitter.

Did you enjoy this article? If so, subscribe to YFS Magazine and never miss an update. Don’t forget to make our friendship official and join Young, Fabulous, and Self-Employed entrepreneurs on Facebook.

Photo: Matteo Thiela

Brendon Schenecker is the CEO of Travel Vegas, a company dedicated to finding the best deals and promo codes in Las Vegas. The company’s app, TravelVegas, received the Best Mobile Experience Award at the Las Vegas Digital Media Awards in 2012. Brendon is also the owner of S.B. Marketing Inc., a business-to-business Internet consulting company.

 

Prev2 of 2Next
Use your ← → (arrow) keys to browse
 

© YFS Magazine. All Rights Reserved. Copying prohibited. All material is protected by U.S. and international copyright laws. Unauthorized reproduction or distribution of this material is prohibited. Sharing of this material under Attribution-NonCommercial-NoDerivatives 4.0 International terms, listed here, is permitted.

   

In this article

Copy link
Powered by Social Snap