\n\n\n\n
Q: Will a new product launch help my business expand?\u00a0<\/strong><\/p>\n\n\n\n A: <\/strong>Launching a new product or service is a great way to grow your business. Not only does a new product launch allow you to reach new local markets, but it also gives your business the chance to grow geographically and corner markets that you aren\u2019t intimately familiar with. <\/p>\n\n\n\n A new product launch is a time-consuming and large-scale affair. <\/p>\n\n\n\n Countless entrepreneurs try their hands at product debuts every year, and every year, a majority of them fail. What are they doing wrong? <\/p>\n\n\n\n While it\u2019s difficult to make generalizations about what exactly you should do when launching a new product or service, there are a number of steps that you can take to ensure your new product launch has the highest possible chance of success. <\/p>\n\n\n\n The very first thing you\u2019ll need to do is to create a solid plan that identifies to whom you want to sell and how you\u2019re going to get that demographic interested. After ironing out those details, you can launch your new product effectively. <\/p>\n\n\n\n Because a product debut is so time-consuming, expensive, and work-intensive, a detailed plan and a concise checklist is paramount to your product debut\u2019s success. <\/p>\n\n\n\n A successful new product launch gives your business the opportunity to grow and break into new markets. Additionally, conducting a new product launch analysis as you go through the steps listed below allows you to identify your team\u2019s talents, locate weak spots within your business, and gives you plenty of marketing material for any future launches. <\/p>\n\n\n\n Keep reading to see what it takes to have a successful new product launch and how to leverage that success to expand your business! <\/p>\n\n\n\n Although there are many ways to handle a new product launch, there are a few steps that are universally integral to your success. <\/p>\n\n\n Below, we\u2019ll cover a rough outline of actionable steps you can take to make your new product launch a win. <\/p>\n\n\n\n Step 1: <\/strong>Market research, planning, and creating a new product launch checklist <\/p>\n\n\n\n Step 2: <\/strong>Launching teaser campaigns and building buzz for your product release <\/p>\n\n\n\n Step 3: <\/strong>Preparing for launch and gauging public interest <\/p>\n\n\n\n Step 4: <\/strong>Launching the product and analyzing consumer reactions <\/p>\n\n\n\n Step 5: <\/strong>Tweaking the product and collecting data for future endeavors <\/p>\n\n\n\n The idea is to solve an existing problem. With the advent of remote work and digital business<\/a>, innumerable problems are popping up that didn\u2019t exist a decade ago. Identify one of these issues and do your best to solve it.\u00a0<\/p>\n\n\n\n New product launch examples<\/strong> are everywhere, just last year Marianne de Groot-Pons, the Dutch owner of Marie Bee Bloom<\/a> created a biodegradable face mask with flower seeds inside. <\/p>\n\n\n\n There are many examples of a successful new product launch. 2022 was filled with many new products<\/a>, including: <\/p>\n\n\n\n Of course, don\u2019t feel obligated to solve a new problem. There are still plenty of old problems without a solution as well. More than anything, you just need to solve something.<\/em> <\/p>\n\n\n\n After creating your product, you need to figure out who you\u2019re going to sell it to and how you\u2019re going to convince them to buy. Additionally, you need to determine the metrics by which you\u2019d consider your new product launch a success. <\/p>\n\n\n\n Once you\u2019ve completed your initial planning and market research, it\u2019s time to draft a new product launch checklist. This checklist will be your guide throughout your launch, so include as much detail as possible. <\/p>\n\n\n\n Although this checklist will look different for each business, all you\u2019re doing is taking the research you\u2019ve previously completed and putting it into an easy-to-follow guide. <\/p>\n\n\n\n The idea isn\u2019t just to show potential consumers that your product solves their problem — you want them to believe that your product is the <\/strong>answer to their <\/strong>problem. <\/p>\n\n\n\n NEXT STEPS: <\/strong>Launching A New Product? Seven Ways To Ensure It Goes Off Without A Hitch<\/a> <\/p>\n\n\n\n If you want to enjoy a successful new product launch, creating buzz and using clever marketing prior to the actual launch is a great way to garner interest and connect with customers. <\/p>\n\n\n\n Start with a teaser campaign and build hype in your target market by alluding to the new product. <\/p>\n\n\n\n Successful teaser campaign examples:<\/strong> <\/p>\n\n\n\n In addition to using clever teaser campaigns, utilizing social media for these efforts will give you a noticeable edge against your competition — especially if you\u2019re able to generate a bit of buzz by using content created in-house. <\/p>\n\n\n\n GoPro,<\/a> an American company founded in the early 2000s, redefined social media marketing with their unique approach. Instead of relying on mass-media marketing initiatives, GoPro used consumer content on their social media channels and was greeted with huge success. <\/p>\n\n\n\n In 2014, at the height of GoPro\u2019s popularity, they reached a market cap of over $10 billion. Although their product certainly helped, their unique approach to marketing saved them countless advertising dollars and helped propel them to a truly massive valuation. <\/p>\n\n\n\n Do not underestimate the usefulness of successful social media marketing. You’ve done the research to identify the platforms your ideal customer is using, and now you need to connect with them. <\/p>\n\n\n\n As your new product launch approaches, it\u2019s important to keep close tabs on how the public feels about your offering. Because you identified the KPIs you\u2019re going to use when you created a checklist, you should have an idea of what constitutes success prior to launch. <\/p>\n\n\n\n Use these metrics to identify weak areas and give them the attention they deserve. Below, we\u2019ve listed a few different ideas to help generate that ever-elusive online buzz. <\/p>\n\n\n\n The launch date is here, and if you\u2019ve been following the checklist, things should be going well. As long as you\u2019ve been marketing to your ideal customer, keeping up with social media impressions, and ensuring that your product solves a problem, then you\u2019ve done everything you can. <\/p>\n\n\n\n During the time of launch, you should think about being in the frontlines and making contact with as many customers as you can. This will allow you to get an excellent read on any issues that customers are experiencing, and it also gives you the chance to let your early customers know that you value their experiences. <\/p>\n\n\n\n Monitor key performance indicators post-launch. You’ve already determined the KPIs you\u2019re tracking, so take the time to determine whether your new product launch was a success. <\/p>\n\n\n\n Regardless of the outcome, make sure you\u2019re listening to criticism. Be willing to fix any potential issues that consumers have with your product. <\/p>\n\n\n\n Breaking into new markets is often difficult and confusing. A new product launch won\u2019t eliminate those anxieties completely, but the research and planning associated with the launch will give you an education on the market that you can\u2019t find anywhere else. <\/p>\n\n\n\n Below, we\u2019ll look at some examples of businesses that have successfully broken into new markets with a new product launch. <\/p>\n\n\n\n Nike\u2019s foray into skateboarding with Nike SB<\/strong> <\/p>\n\n\n\n Although Nike<\/a> shoes have been worn by skateboarders since the sport\u2019s inception, the corporation\u2019s first attempt to break into the world of skateboarding in the 1990s was met with disdain from skateboarders everywhere. <\/p>\n\n\n\n In 2002, Nike tried again with a different approach. Nike SB revolutionized the limited-release approach to product launches, and in doing so, influenced clothing brands for years to come. <\/p>\n\n\n\n PepsiCo\u2019s release of plant-based drink EVOLVE<\/strong> <\/p>\n\n\n\n In 2019, soft-drink giant Pepsi<\/a> purchased the rights to the plant-based protein drink Evolve<\/a> in an attempt to gather market share outside of their usual junk food-focused brands. Despite making the purchase, PepsiCo didn\u2019t attempt to relaunch the drink until 2021. <\/p>\n\n\n\n As you can see, Pepsi knows when to leverage these new offerings. By waiting until 2021, when the public\u2019s interest in healthy foods was higher than ever,<\/a> Pepsi was able to roll out a new product launch with a clear and identifiable goal in mind: to regain the market share lost by the shift in the public consciousness. <\/p>\n\n\n\n Target releases Kindfull, a company owned pet-food brand<\/strong> <\/p>\n\n\n\n In August of 2021, Kindfull, a Target-brand pet food<\/a>, hit the shelves. What might seem like a strange decision was actually the result of data collection and knowing what their customers were looking for. <\/p>\n\n\n\n By carefully tracking data from previous launches and gauging customer reactions to these launches, Target was able to realize that its customers were mostly pet owners that were forced to make secondary stops for high-quality pet food after leaving their store. In that regard, the decision to launch Kindfull was brilliant. <\/p>\n\n\n\n If you couldn\u2019t tell, most of these companies use their new product launches to break into markets that they\u2019ve already been able to gather research on. <\/p>\n\n\n\n Using the new product launch checklist above can help you determine what consumers are willing to pay for and how much they\u2019re willing to spend. Once you\u2019ve determined those factors, using a new product launch to conquer new markets is as easy as following the checklist above. <\/p>\n\n\n\n NEXT STEPS:<\/strong> Is Your Freight and Logistics Business Ready for the Future?<\/a> <\/p>\n\n\n\n Outside of these broader attempts to explore new markets, you might consider breaking into new geographic locations with a product debut. That said, expansion does come at a cost, and new geographic locations require more employees and more resources. <\/p>\n\n\n\n Regardless of how difficult it is to manage a new geographic location, there are a number of websites and applications that make finding employees way easier than it has ever been, even if you\u2019re operating in areas you’re unfamiliar with. <\/p>\n\n\n\n Keeping employees on the same page in a single store is hard enough, but keeping employees working towards the same goals across a broad geographic area is even tougher. <\/p>\n\n\n\n Fortunately, the digital age has provided us with a solution to this as well. <\/p>\n\n\n\n Virtual meetings are far and away the most pragmatic approach to keeping your business cohesive and your team on the same page. <\/p>\n\n\n\n Applications like Zoom<\/a> will make these meetings easy and painless, but relying solely on these communication applications can\u2019t keep your business operating at its highest capacity. <\/p>\n\n\n\n NEXT STEPS: <\/strong>As telework continues for many U.S. workers, no sign of widespread \u2018Zoom fatigue\u2019<\/a> <\/p>\n\n\n\n Using satellite offices, flexible meeting rooms, and offering hybrid offices to your remote workers are all excellent ways to keep things cohesive without having to spend obscene amounts of money on traditional office rentals. <\/p>\n\n\n\n In the past, if you wanted to expand to a new region, you would be forced to rent an office, hire management in those particular areas, and likely make frequent trips to ensure that everything was going smoothly. <\/p>\n\n\n\n Thankfully, Alliance Virtual Offices<\/a> provides several of these solutions, allowing you to use one website for all of your virtual business needs. <\/p>\n\n\n\n Listed below are a few of these virtual office solutions that will allow you to save money, keep the company cohesive, and access easy communication with team members. Keep reading to see how you can expand without breaking the bank! <\/p>\n\n\n\n Employing the use of a virtual office<\/a> is a no-brainer. Not only are you adding credibility to your business by utilizing a commercially recognized address, but you can also forgo expensive rent and put that money towards expansion. Additionally, Alliance Virtual Offices offers a Virtual Office Platinum Plus Plan<\/a> that gives you access to 16 hours of meeting room or private office time. This means that when you need a meeting room, you\u2019ve got it. <\/p>\n\n\n\n Rather than using crowded coffee shops and hotel conference rooms, meeting rooms<\/a> provide you with the opportunity to meet with your remote workers in a private and professional space. Despite the efficacy of video conferencing, sometimes you need to actually visit the areas with markets you\u2019re trying to corner. <\/p>\n\n\n\n Since you can choose to pay by the hour, half day, or day, you don\u2019t have to sign a lease for a space that you might rarely visit. You can book these cost-effective rooms online, and you won\u2019t have to deal with any of the distractions associated with more traditional meeting spaces. <\/p>\n\n\n\n A Virtual Phone<\/a> can add legitimacy to your business, and offers features that allow you to easily integrate new team members and assign numbers seamlessly. Rather than relying on whatever cell phone providers your employees use, virtual phones are connected by powerful cloud-based technology that makes communicating from anywhere simple. <\/p>\n\n\n\n Additionally, using this service allows you to keep your personal phone private and secure. <\/p>\n\n\n\n A receptionist is often the first line of contact between customers and your business. If you\u2019re relying on team members — or even yourself — to answer these calls, potential customers might not be getting the proper amount of attention they deserve. <\/p>\n\n\n\n Using a live receptionist<\/a> changes that. This service screens your calls weekly and helps connect you to the calls that matter without forcing you to multitask and potentially upset new customers every time the phone rings. <\/p>\n\n\n\n In fact, you\u2019re able to focus on providing more new product launches as well as marketing in new areas with a live receptionist. Every part of your business is important, but there\u2019s no point in letting yourself be driven insane by constant phone calls when you\u2019re trying to expand. <\/p>\n\n\n\n A new product launch will help you get started on your journey to expansion, but utilizing the services above helps prepare you for some of the challenges associated with this growth. <\/p>\n\n\n\n Launching a new product or service is an excellent way to grow your business. Not only does this allow you to reach new markets locally, but it also gives you the opportunity to grow geographically. <\/p>\n\n\n\n When this happens, utilizing virtual offices, meeting spaces, and hybrid workspaces allows you to keep your operating costs down while supporting your expansion. <\/p>\n\n\n\n A new product launch gives you these opportunities for expansion, but it\u2019s what you do after the launch that makes or breaks your business. <\/p>\n\n\n\n By using these services and carefully planning your next move, your business can remain stable while it expands. There\u2019s nothing worse than experiencing rapid growth and having to focus on logistic aspects of your business while you could be using that time to help push your business towards increased profitability and market share. <\/p>\n\n\n\n Further Reading<\/strong> <\/p>\n\n\n\n As an established entrepreneur, a new product launch can give your business new life, new market share, and new customers. Keeping up with expansion isn\u2019t always easy, but that\u2019s where Alliance Virtual Offices<\/a> comes in. <\/p>\n\n\n\n Whether it\u2019s using a Virtual Office <\/a>for savings on rent, utilizing Meeting Rooms<\/a> when connecting with remote workers, connecting with your team via Virtual Phones<\/a>, or taking advantage of hybrid workspaces, Alliance Virtual Offices<\/a> is here to help make your journey as smooth as possible. <\/p>\n\n\n\n If you want to make your next product launch as smooth as possible, contact us today<\/a>! <\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Launching a new product or service is a great way to grow your business. Not only does this allow you to reach new local markets, but it can also help you grow geographically. This guide explains how to position your new product launch for success.<\/p>\n","protected":false},"author":46,"featured_media":20505,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","post_reading_time_wpm":"300","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored 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Launching a new product or service is a great way to grow your business. Not only does this allow you to reach new local markets, but it can also help you grow geographically. This guide explains how to position your new product launch for success.<\/p>\n","category_list_v2":"Small Business<\/a>","author_info_v2":{"name":"John Donovan","url":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/author\/john-donovan\/"},"comments_num_v2":"0 comments","author_meta":{"display_name":"John Donovan","author_link":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/author\/john-donovan\/"},"featured_img":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-content\/uploads\/2022\/08\/00-featured-new-product-launch-here-is-how-to-plan-for-success-300x73.png","coauthors":[],"tax_additional":{"categories":{"linked":["Small Business<\/a>"],"unlinked":["Small Business<\/span>"]},"tags":{"linked":["advertising<\/a>","Broadcast<\/a>","business expansion<\/a>","business growth<\/a>","ecommerce<\/a>","entrepreneur<\/a>","entrepreneurship<\/a>","marketing<\/a>","marketing campaign<\/a>","new products<\/a>","product<\/a>","product development<\/a>","product expansion<\/a>","product launch<\/a>","sales<\/a>","startup<\/a>"],"unlinked":["advertising<\/span>","Broadcast<\/span>","business expansion<\/span>","business growth<\/span>","ecommerce<\/span>","entrepreneur<\/span>","entrepreneurship<\/span>","marketing<\/span>","marketing campaign<\/span>","new products<\/span>","product<\/span>","product development<\/span>","product expansion<\/span>","product launch<\/span>","sales<\/span>","startup<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 4 years ago","modified":"Updated 1 year ago"},"absolute_dates":{"created":"Posted on September 14, 2022","modified":"Updated on April 28, 2025"},"absolute_dates_time":{"created":"Posted on September 14, 2022 7:10 am","modified":"Updated on April 28, 2025 5:59 am"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/posts\/20491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/comments?post=20491"}],"version-history":[{"count":0,"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/posts\/20491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/media\/20505"}],"wp:attachment":[{"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/media?parent=20491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/categories?post=20491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-json\/wp\/v2\/tags?post=20491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/a><\/figure>\n<\/div>\n\n\nHow to successfully launch a new business offering <\/h2>\n\n\n\n
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Step 1: Market research, planning, and creating a new product launch checklist <\/strong><\/h3>\n\n\n\n
Market Research and Planning <\/h4>\n\n\n\n
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\n\n\n\nStep 2: Launching teaser campaigns and building buzz for your product release <\/strong><\/h3>\n\n\n\n
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Step 3: Preparing for launch and gauging public interest<\/strong> <\/h3>\n\n\n\n
Other methods of building or retaining buzz prior to launch <\/h4>\n\n\n\n
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Step 4: Launching the product and analyzing consumer reactions<\/strong> <\/h3>\n\n\n\n
Step 5: Tweaking the product and collecting data for future endeavors<\/strong> <\/h3>\n\n\n\n
\n\n\n![\"\"](\"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-content\/uploads\/2022\/08\/02-section-how-new-business-offerings-help-you-break-into-new-markets-1.png\")
<\/a><\/figure>\n<\/div>\n\n\nHow new business offerings help you break into new markets <\/h2>\n\n\n\n
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\n\n\n![\"\"](\"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-content\/uploads\/2022\/08\/03-section-what-can-you-do-to-support-new-business-growth-1.png\")
<\/a><\/figure>\n<\/div>\n\n\nWhat can you do to support new business growth? <\/h2>\n\n\n\n
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\n\n\n![\"\"](\"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-content\/uploads\/2022\/08\/04-section-expand-your-business-without-breaking-the-bank-1.png\")
<\/a><\/figure>\n<\/div>\n\n\nExpand Your Business Without Breaking the Bank <\/h2>\n\n\n\n
Virtual Office <\/h3>\n\n\n\n
<\/p>\n\n\n\nMeeting Rooms <\/h3>\n\n\n\n
Virtual Phone <\/h3>\n\n\n\n
Live Receptionist <\/h3>\n\n\n\n
\n\n\n![\"\"](\"https:\/\/www.alliancevirtualoffices.com\/virtual-office-blog\/wp-content\/uploads\/2022\/08\/05-section-retaining-stability-through-a-new-product-launch-1.png\")
<\/a><\/figure>\n<\/div>\n\n\nRetaining stability through a new product launch <\/h2>\n\n\n\n
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