Lots of people jump into the product world without having a full understanding of bringing a product to market (AND HOW TO MAKE MONEY WITH IT). Even the most seasoned product-preneurs, after naming their product, financing, manufacturing and marketing it – get stressed and overwhelmed in the evolving cycles.
One of our favorite reads, Mashable, outlines a few tips from industry experts about the important factors to bring into focus before launching a new product. Our Nutshell clients would agree with these too!
The 3 Things to Consider Before Launching a New Product:
- Determine What Customers Want – This may seem obvious but before launching you should do lots of research and testing to see if it has a desirable spot in the marketplace. You may create something that appears revolutionary but unless cash is exchanged you’ve wasted time, more time and a chunk of investment.
- Be Discussion-Worthy – You want people talking about your product too! In a world crammed with stuff, yours needs to be top of mind at the dinner table or shared on a feed or picked up by the press. Half the battle is getting current and potential costumers fostering organic conversation about your brand.
- Be Transparent – One way to attract consumers to your product is to be completely transparent and show them exactly where their money is going. Encouraging customers to know where their products are coming from — and why they are priced a certain way — gives power to the consumer, and helps them feel confident about their purchases. When customers know where their products are coming from, they often feel a greater sense of ease about their purchases — and this sense of security helps foster brand advocates who will likely tell their friends about their positive experiences.
Launching a new product is complicated, and the process has many variables and steps while navigating through the marketplace. However, start with these broad tips as a compass to ensure the success of your product launch and potentially make your brand more attractive to consumers.
The Nutshell Project provides a full service “soup to nuts” approach to develop, tweak or refine your product business bringing it to the essential tipping point from investing in your business to making money. Our first-hand launch of global product successes and years of insight provides our clients with a crucial road map as well.
Leverage our experiences in: mastering QVC, appearing on Good Morning America and The Today Show, landing in national magazines, selling in big box stores, infiltrating boutiques and drug stores and having a robust E-commerce online platform! Visit www.TheNutshellProject.com