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Introducing a new product or service to the market is certainly a challenging task and process for a lot of business people, and it does not end there, unfortunately. The other half of the process is knowing how to properly promote and market this new product or service, especially to new customers. Indeed, failing to promote the product effectively might lead to great money losses down the road, even if it is great. On that premise, the following article presents some key tips and strategies that can help business people in adequately promoting their new services or products.

Market to Existing Customers

One of the best strategies that business people can use to promote their products is marketing it to their loyal customers. Existing customers will not only buy the service or product but also advertise it to their networks.

Use Special Introductory Deals

Making the service or product available for the general public as an introductory offer rather than simply making an announcement can be another great way business people can promote their services and products. These offers or deals can include discounted prices, coupons or vouchers upon purchase, gifts for referrals, buy one get one free, to mention a few. It is also important that business people make their deals and offers available for a limited time to pressure customers into buying the product or service.

Set a Social Media Contest

Running social media contests is a great idea for business people to connect to many shoppers and bring in more followers for their products or services. Business people can organize giveaways, for instance, on Instagram and Facebook to attract more followers or fans to their page dedicated to their services or products. Business people should also run ads on social media platforms since ads can be customized to a specific target audience depending on the product or service being sold.

It is certainly significant to know the platforms that the target audience uses and frequents the most to promote a product efficiently. It is also a smart strategy to use several platforms and cross-promote the products and services to attract as many new customers as possible.