New product advertising looks a little different from what it did 10 years ago. In the past, when a company began new product advertising, they would spend ridiculous amounts of money on marketing through newspaper advertisements and radio spots. Companies would submit a press release and product description to a newspaper or magazine and hope the publication wrote a review. Since then, the practice has changed drastically.
In some ways it has become a little easier. In other ways it is far more complicated. These days, much of the advertising for a product or service is done online. Advertisers are finding that better results are coming from Internet and mobile marketing than through traditional means.
However, with this change, companies that are developing products and services can spend a lot less money on advertising if they have a strong in-house team. The face of new product advertising is changing. While web page and clickable in-app adverts are extremely successful, there are several free alternatives.
Offering Products for Review
Companies can offer a complimentary sample of their product in exchange for a review. For example, a company marketing an organic face cream might submit their press release and product description to a beauty blog or a blog that focuses on green living. There may be a fee for a post, but some bloggers will post a product review in exchange for free samples or promotion of their website.
Using Free Webimercial Services
Another free way to advertise is through producing a webimercial and posting it to sites like YouTube and Vimeo. This allows advertisers and product supporters to share the video with their friends and family without paying for a 30-second television spot. In fact, unlike a television spot, it can’t be missed. Advertisers don’t have to choose the best times to air their commercial, and they don’t have to worry about paying top dollar during primetime or special events. This is a crucial new product advertising method.
Using Social Media
New product advertising has also changed in that companies can choose to purchase pay-per-click adverts or sponsored posts on Facebook or Twitter. While this is a little more complex than free blog posts, it can also be much more successful. Advertising Directors and Marketing Managers can target certain demographics such as age group, location and even taste in music.
There’s no doubt that new product advertising strategy should be based on the product and its target market. If your company’s demographic is more likely to pick up a newspaper than a laptop, traditional methods still apply. When developing a strategy for marketing a new product, advertising executives must use the most cost effective way to advertise the product while also yielding the most lucrative results.
The best practices of new product adverting haven’t changed much. It’s still important to develop a press release, and still important for a marketing department to know what’s best for their product. Much of marketing has, however, gone online. Whether marketing a new product online or through traditional methods, having a strong strategy in place is crucial.