Every entrepreneur agrees that the most challenging part of building a new company is the launch phase. Indeed, with over 5.7 million SMEs in the UK, it’s fair to say that getting noticed early can be challenging.
The purchase of a domain name and the creation of your logo are far from being sufficient to stand out from the crowd. You need to consider a launch strategy that is likely to attract your audience attention.
Unfortunately, new entrepreneurs tend to work with a limited budget. In other words, there’s a delicate balance to maintain between shouting out about your brand and keeping your budget under control.
That’s precisely why new businesses tend to focus on activities that offer long-term ROI and brand awareness at a comparatively low cost. Your launch strategy must include critical psychological factors, namely:
Being there when users need a solution: Relevancy
Setting the background for a positive relationship with an unexpected gift: Generosity
Encouraging people to trust you by letting a friend introduce your brand: Trustworthiness
Boost your online campaign for your target
One of the preferred online marketing strategies for all companies is pay-per-click, as you are in charge of how much you can spend for the whole campaign and every single click. Google AdWords allows businesses to display their ads via an auction process on keywords – among other factors.
While the principles are simple: you choose how much you are ready to pay each time your keyword is triggered, too many businesses fail to maximise their PPC budget.
Adding new keywords can not only improve your campaign but also ensure that it remains relevant to your audience. Additionally, you can use local conversion data to focus on converting areas and stop wasting money on others.
Always have a free teaser
Everybody loves a gift, especially if it is unexpected. Therefore, it’s a good idea to join local networking events at the time of the launch to distribute bags with your logo and a freebie inside. Keeping your costs low can affect your choice in terms of giveaways.
But your audience is not going to be interested in a branded pen or a notebook. Instead, place a discount to new customers, or a free sample of your product. You are more likely to attract potential customers if you can encourage them to try your offering safely – for free or at a lower cost.
Convince one person first
Celebrities such as Kylie Jenner or Selena Gomez are paid a humongous amount of money to promote a product to their followers – Jenner receives up to $1,000,000 per post! The reason? Instagram promotions are effective. But you don’t need to break the bank to find an influencer.
Working with a micro-influencer provides a cost-effective solution in a targeted environment. Melou, a German jewellery brand, focused on creating a compelling story with the support of small influencers targets such as young women interested in horse-riding.
As a result, the brand pierced through multiple micro-communities at the same time and counted over 1,700 sales in their first month.
Your budget doesn’t define the success of your launch strategy. Instead, you need to shift focus to support essential psychological factors, such as establishing your relevancy, trustworthiness and generosity by targeting your audience’s needs and interests.