When and How to Launch New Products
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One of the keys to success when it comes to running an online handmade business is keeping your customers excited and coming back. Loyal customers are the lifeblood of a long-term successful shop. But knowing how to launch new products can be tricky.
When is a good time to introduce something new, and how do you do it well?
It’s not just about introducing something new; it’s about creating a buzz, capturing sales, and taking your business to the next level.
That’s what today’s post is all about! Get ready to launch!
Disclosure: some of the links below are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase.
When Is A Good Time to Launch
There are a few factors at play when deciding when to introduce a new product. Sometimes it’s a combination of several. Since creating and introducing a new product can take a lot of your time, money and effort, you want to pick the right time to do it.
Here are some things to consider when thinking of when to launch a new product:
- Time of year. If its around a holiday season and your product fits, that would be a great time to introduce a new item. Just make sure you have the production capacity to handle orders. If its a seasonal product, look to launch it when its the right season.
- Customer feedback. Many times our customers will ask for something specific that we may not already offer. If it’s a request that you feel you can fill, then it may be a good idea to create what they’re asking for. You already have an audience waiting for it!
- Industry trends and trends in your business. Take a look at what’s trending in your niche, and make sure what you offer fits in. If you’re lagging behind, you may want to consider updating or refreshing your product line. Likewise, if you’re seeing a lag in sales over the previous year or quarter, it might be time to bring in some new products.
Creating Buzz: Building Anticipation
Now that we’ve covered timing, let’s dive into the exciting part – creating a buzz for your new product!
Before you launch, you may want to release some teasers and sneak peeks on your social media channels. Offer glimpses of the new item, but keep some mystery around it.
You can build engagement by asking your followers what they think the new product is. If you have a set launch date, create reminder countdowns that they can use as a reminder for when the new product is ready to go.
Share some behind-the-scenes information as well. Why are you making the new item? What inspired you or how did you come up with the idea?
Don’t forget your email list! Send out emails to your subscribers (you do have a list, right?), keeping them in the loop about the upcoming launch. You can offer exclusive early access or discounts to your list subscribers as a way of thanking them for being such big fans.
How to Launch New Products: Launch Day
When the big day comes, harness the power of social media and SEO. Ensure your product reaches a wider audience by showcasing your new item visually. Post high-quality images that show the product in use, as well as up close and from all angles.
Video is a great way to introduce a new creation! Be sure to take short videos that you can post on your social platforms, along with the link to shop.
Measure the Results
Make sure you keep track of the response to your new product. Keep track of visits to the product page as well as actual sales.
After a few months, follow up to see if your new product is a success! Judge it based on your overall sales percentages. Remember, 20% of your products will bring in 80% of your sales, so as long as it aligns with the 20%, then consider it a success.
If the sales are just not coming, then your new product may not be right for your audience. Take notes on what did and did not work so you can apply them to your next launch.
When and How to Launch New Products
By following these tips, you’re well on your way to a successful product launch for your handmade business. Remember, it’s not just about the product itself; it’s about the story you tell, the anticipation you build, and the connections you forge with your customers.
If you’re getting started with an online shop, I’ve got a free guide to help you get there faster and easier. Download Online Selling Must-Haves for Makers and you’ll be hanging up your virtual “open” sign in record time!
