Do you have an idea for a new program or product you’re anxious to launch?

90% of new product or service launches don’t end well. This video covers what you need to do to ensure your new venture has a successful kickoff.

And since these video eTips are a sneak peak to what is taught in AMPLiFY, it was fitting to give them a similar name. So welcome to the now called AMPLiFY! Business eTip Show!

We spent a lot of time revamping Social Blast and because we’ve helped clients launch products and programs before, it is definitely better to approach the process systematically. Here’s 5 tried and true tested methods needed to bring your vision to fruition that will get you a better chance at success.

Five critical steps necessary to making your new undertaking successful

1. Identify the Opportunity

   If no one wants or needs it, it’s bound to fail.

   Ask yourself what is it that people are looking for that you provide a solution for? Look at the variables of who you’re after. Is the market there? Will they be receptive to what you’re bringing to them? Will people spend money on it?

2. Understand the Market

   Clearly understand and identify who would be best suited to purchase your product so you can set your sites on the right target market.

   How big is the market? You’ll need enough customers to warrant your efforts. Get to know what they normally spend money on and have a very clear understanding of who they are. Define their demographic info and their psychographic info so you know who they are, how they think, and whether or not you’ll find an audience willing to buy what you’re aiming to develop.

   Get your unique selling proposition nailed down. Even if it’s similar to other products, you can still differentiate your product by making it better and different than whatever already exists.

3. Test the Market

   This is where you see if people genuinely are ready and willing to spend money on what you’ve come up with.

   Make a prototype and start testing. See what feedback you get on things like crowd funding sites. They’re great to test an audience’s willingness to pay for something.

   Ask for feedback. Send the prototype to influencers in your sphere and see if they give positive or negative feedback.

   If it’s positive then you’re golden. If it’s negative or you get no response then it’s time to refine your product or service based on what they’ve said. Silence means you’ve got some work ahead.

   Don’t let your ego get in the way and accept that what you thought of may not be ideal. That doesn’t mean you can’t try it with alterations or a new product all together.

4. Create a Marketing Plan

   Focus on the niche your product will resonate with the most. If you got positive feedback and you identified your market properly, then create your branding and marketing message to craft something that is just for that initially identified audience.

   Strategically position yourself as the solution to their problem. Whatever challenge that your product or service addresses is what your marketing message should address.

   Don’t settle on what you think they want. Listen to the feedback and give them what they actually need. Create your brand image that resonates positively with your ideal market. Make it count and really treat this step seriously. Bad branding can break an otherwise successful launch.

   Stay focused and don’t go after bigger fish. Zero in on your ideal market and write your marketing message specific for them using the language they will resonate with. By focusing specifically on that niche market doesn’t mean others outside of that inner circle won’t purchase, they will still find you via other means.

5. Launch!

   First up: make sure you’ve got a great looking, professional website or sales page. This website is a representation of your brand and you want to ensure it makes the most favourable impression on its visitors.

   Be prepared to spend money on ad campaigns. And while paid campaigns are essential, don’t just rely on one thing. It’s ideal to use a multi-pronged marketing approach to launching your new product.

   You’re going to want to implement an email campaign to your list. Perhaps create a free giveaway to lead people though a lead-generation funnel. Also use paid advertising, social media marketing (include some budget for paid social marketing) and venture partners.

   Venture partners are referral sources who receive a commission from the sale they sent you.

   And don’t give up! Sometimes the first attempt fails. Instead of giving up, test and tweak. Look at your Google Analytics and your social analytics. Look for the issue that’s causing the lack of conversions and keep testing the various possible causes.

   There are many things to look for that may have caused them to fall out of the conversion funnel.

   Test, tweak, and try again. Failure only happens when you give up.

Before jumping in and investing a lot of time, energy and money on your next big idea, take a more systematic and strategic approach to better position you into ensuring it’s a successful idea.

About the Author, Susan Friesen

Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, and founder of British Columbia’s premiere boutique web development and digital marketing agency, eVision Media.

With over 20 years of experience in the industry, she is an expert in helping businesses establish their online presence and create a strong brand identity.

Her passion for empowering entrepreneurs and small business owners to succeed in the digital world has earned her a reputation as a leading authority in the branding and marketing industry.

---

Visit www.BrandIdentitySteps.com and download your FREE guide: "Unlocking Customer Trust and Business Growth: Your 7-Step Guide to Defining a Compelling Brand Identity that Appeals to Your Perfect Clients".