How to launch your product with optimized budget and terms
It can be exhilarating to launch a product. The “create it and customers will come” theory does not always work nowadays. Firstly, you need to create a solid foundation before start laying bricks. So how to start a product? In this article, we will give some useful advice.
Set a Budget
Define how much can you afford to spend on your startup. It is a starting point of your campaign.
Choose a Market
It is easy to believe that the whole world will love your product. But the reality is that only a small part of target audience is interested in it. You will waste both money and time if you try marketing your startup to the whole Web. Instead, you should identify a specific target market and go for it.
There are 4 main factors to consider before choosing a market
1.Value Proposition – Is it unique enough to cut through the noise?
2. Market Competition – How many competitors are there on the market and who are they?
3. Market Wealth – Does your target audience has enough money to buy your product?
4. Market Size (the number of potential customers)
After defining the market, you can start creating a list of keywords. In order to do it, summarize what your startup does and ask yourself what would a person type into Google to find your product? Also, you may use free tools to see the core keywords already sending traffic to your site. They are Uber Suggest and Google’s Keyword.
Setting Core Metrics
Do not try to measure everything. Make sure your metrics are specific and accurately measurable. Focus on the key indicators of success.
On this stage, you should assign conversion values and rates. For example, use the number of newsletter signups.
Social media is invaluable to any startup as it is one of the most popular ways to reach influencers and promote your content. So choose the right social media networks (LinkedIn, Twitter, Facebook) and start posting your product.
Tip: Define the best time to post
- Sundays, Saturdays, Thursdays, Wednesdays, and Tuesdays are best days to post.
- 6 p.m. EST is the best time to post.
- 12 p.m. EST is the best time to post
- Saturdays are best days to post
When it comes to social media, it is time to use that keyword list you created earlier.
Set Up a Blog
Your blog should be about publishing really great content to the right people and at the right time. For example, try using WordPress. It is free and allows creating a blog within a minute.
Create a high-quality Content
With a blog setup, it is time to start content creation. It includes four basic steps:
1. Build a list of topics. Be sure to add descriptions to your topic ideas
2. Try guest Blogging. It is vital for startups. Guest posting on a popular blogs is a great way to build your online reputation.
3. Capture Emails to create a newsletter.
4. Publish the right content. Always keep your target audience in mind.
Set Up Analytics Tools
A great analytics tool is the key to measuring success. For example, use tools like KISSmetrics if you want something more advanced and user-friendly. And, of course, you can always check out Google Analytics.
Brainstorm New Creative Ideas
It is not just about trying to optimize and iterate what you have been doing. Successful startups are build upon new creative things. For example:
1. Use All Your Resources
Tell your startup’s story to anyone you meet. Create a video about it or write a blog post on it.
2. Have a compelling story
Storytelling is the most powerful sales instrument. Always have a relatable story to tell.
3. Sell the solution
Focus on what makes your solution the perfect choice rather than the potential problems.