Author: Franz Malten Buemann

  • Customer Experience: How to maximise customer loyalty?

    https://www.mask-panda.com/customer-experience-maximise-customer-loyalty/ An unmistakable customer service strategy is made out of steps that are easy to comprehend and speedy to carry out. It gives everybody in business their tasks with regards to giving an excellent customer experience. Solid customer service in Australia gives clear responsibility to each division, group and staff member, helping every individual from staff see precisely what their job is and how they can add to the customer experience and contribute to the company to take a customer-centric approach.
    submitted by /u/protopartners [link] [comments]

  • The inevitable decline of fully open platforms

    The spammers have found Substack.

    There’s a long history of useful tools on the internet attracting selfish con men.

    Substack is a platform for bloggers who want paying subscribers. They’ve done the technical work and quiet lobbying to get past the promo folder and the spam filters, and as a result, a blog on Substack is going to reach more people and come with a veneer of respectability.

    One option a company with a useful network has (whether it’s an email platform or a social network) is to curate what they feature. They’ve built an asset and that asset goes up in value when it attracts thoughtful users.

    The other option is to believe that ‘open’ is the answer, the more open the better. As we learned when we launched Squidoo a decade ago, it rarely is. People in disguise don’t make good neighbors. A fully open platform inevitably attracts selfish jerks, who, without curation, begin to degrade the very asset that made the platform appealing in the first place.

    Wikipedia used to be fully open, but persistent graffiti on useful articles meant that serious users were spending most of their time fixing what shouldn’t have been broken. Now, you have to earn the right to do certain edits to certain articles.

    The tension is simple: If a platform is carefully vetted and well-curated, it meets expectations and creates trust. If it’s too locked down and calcifies, it slows progress and fades away.

    Radio, TV and magazines have always been curated. Even the letters to the editor are read by someone before they’re printed. The magazines that went to the web and let just about anyone write on their sites ended up with sites that just about no one trusted.

    Too much curation stifles creativity, opposing viewpoints and useful conversation. But no curation inevitably turns a platform over to quacks, denialists, scammers and trolls.

    Over time, the value of a uniform, a brand or a platform is defined by the worst people who wear it or use it.

    Trust and attention are in a long dance, but only trust wins in the long run.

  • Learning from the global economic crisis: an interview with Eliot Heilpern

    CXM had the pleasure to talk with Eliot Heilpern, the Partnership Director and Co-Founder of The Payments Business, about the global economic crisis. We have dived deep into the consequences of the recent financial crisis of 2007 and 2008, disruptions caused by the pandemic, and behaviours that emerged as necessary for both economic and societal…
    The post Learning from the global economic crisis: an interview with Eliot Heilpern appeared first on Customer Experience Magazine.

  • How Glow Recipe Pivoted From a Curation Site to a Beauty Product Brand

    Did you know the current U.S. cosmetics market is worth over $95 billion? 
    With the fast growth of the cosmetics industry, it’s become competitive and saturated — especially for startups.  This industry can be even more challenging to break through when you’re trying to sell a product that you’re audience might be less familiar with.
    With this in mind, Glow Recipe, founded by Sarah Lee and Christine Chang, aims to bring U.S. awareness to Korean beauty (or K-beauty) trends, as well as its own lines of natural, fruit-based cosmetic products. 

    But, before Glow Recipe sold thousands of cosmetic products and built an audience of more than 1 million social media followers, it actually started as a simple product curation site aiming to highlight other K-beauty brands. 
    In a recent episode of The Shake Up, Alexis Gay and Brianne Kimmel sat down with Co-CEOs Sarah Lee and Chang to learn how they built a well-known beauty brand and positioned their products for the U.S. and other global markets.
    Below are just a few great highlights from the episode, as well as an audio player so you can listen while you read.

    Glow Recipe Highlights
    How and Why Glow Recipe Began With Curation
    [00:18:54] Gay: It seems to me like through the work of several companies, but particularly Glow Recipe, Americans are increasingly aware of K-beauty and the philosophy behind it. … I’m wondering if you could just tell us a little more. What are the actual key markers of K-beauty?
    [00:19:17] Chang: The whole catalyst for us starting this was actually the realization that there was a burgeoning interest in Korean beauty at the time. This was all the way back into 2014. We were also seeing not only consumers but also global companies looking to Korean manufacturers and Korean labs for the latest innovations and skincare, ingredients, and technologies.
    … We were also seeing that Korean beauty articles … were very focused on [K-beauty] as a 10 to 15-step regimen. … It would almost be a little — in terms of content — too clickbaity, versus really getting at the heart of the matter, which is that Korean beauty is about a philosophy. … It’s something that we ourselves learned at our mothers’ and grandmothers’ knees growing up.
    We both have these amazing memories of … our grandmothers using watermelon rind and rubbing that on the skin to suit heat rash, or our mothers just marching over to the pantry. And I know Sarah’s mother — one of her favorite ingredients was cucumber slices. Or my mom would like to use greater potato and [00:20:30] just that holistic very easily, the accessible approach to natural ingredients, incorporating that into your self care routine. We would very often mask together with our moms while watching TV. And it wasn’t a chore. It wasn’t an arduous 15 step thing you had to get through.
    [00:22:19] Kimmel: Can you tell us a little bit more about that evolution from becoming the trusted source in your friend group for K-beauty products to then curating this amazing new experience that turned into an amazing community in a very big market.
    [00:22:45] Chang: We flew over in 2014 to Korea without so much as a website to get some brands on board. And we pounded the pavement to find these brands that many of which we’re still very close to today. … The commonality was that they were all helmed by really passionate brand founders that had unique products, really clear product formulation philosophies, and we felt like these were the brands … that needed to be introduced to the U.S. and other global markets — because of the sheer astounding innovation, beautiful textures, and ingredient stories we were seeing. … After a lot of convincing … We were able to get eight or nine brands on board.
    … On that trip, we kicked off our site right away. … There were a lot of mishaps along the way. I cringe a little bit when I see the early iterations of our site, because at the time you were like, “Hey, it looks great.” … Now, looking back on it, there were some clear optimization opportunities, but it was so fun.
    … Every day, we were making emails ourselves. We were cold calling journalists ourselves. We were figuring out the social media content. … It was a lot of scrappiness, but also we really enjoyed it because we knew each and every step we were taking was getting us closer to our goal of bringing K-beauty philosophy to the wider audience and the way that we thought was right.

    … We knew that eventually, we would have to take that step ourselves because we ourselves had that formulation philosophy internally that we wanted to really materialize and manifest through, through our own brand and the right timing for that eventually came. So a couple of years after launching RSP as a curation site, we launched our own in-house food-for-skincare brand that you see today, and on the shelves at Sephora in mid-2017. … And that was … a very close partnership with the retailer to make sure that we were successful in launching the brand.
    Why Glow Recipe Pivoted from Curation to Product Creation
    [00:26:29] Lee: I think the first reason why we started as a curation business model was because we wanted to give the platform and the opportunity to these brilliant founders and brands to go global by providing the content and education and marketing.
    … Once we were able to gain that credibility in the market, I think that’s when we needed to really think about what we wanted to do as founders.
    … What we wanted to do was combine those [Korean beauty] tenants and create our own brand because we didn’t really think that all of the influx of Chinese and Korean beauty innovations were fully understood by the American consumer. We felt the urge to break down that barrier and create our own brands that are actually much simpler.
    [00:28:12] Chang: With Glow Recipe Skincare, it just felt right. Our community could not get enough. People were DM-ing us, our brand, our, our personal Instagrams nonstop asking about … the next draw, product suggestions, ideas. There was just so much passion and buzz around this brand. And we knew that we had struck a chord with it because it was this balance of — yes — Korean beauty philosophy, but also results. …
    Also, [one thing that drew audiences was] the fact that we were speaking about fun skincare. For the longest time, I think skincare had been really dominated by a lot of very clinical brands. … Of course, so many brands that are in that space are also really amazing. But I think that sense of sensory reality — that extra moment that touch that made your self-care routine that much more special — all of this was really, really appreciated and we felt like it was ours. [It was] lmost our dutie to the community to make sure that we were giving them what they wanted.
    How Glow Recipe Maintained Brand Relationships
    [00:29:45] Kimmel: How did you think about … the early community that you had built around curation. Were there specific ways that you were able to learn from those founders or continue to build a relationship with them once you made the transition from curation over to Glow Recipe?
    [00:30:12] Lee: some of the founders from the curation brands are still our friends to this date. So there is a lot of synergy that comes from that because we can always pick up the phone, call them, and ask them for opinions about certain things.
    … We’re both brand builders and creators, right? So we share so much in common. We terminated our curation business model, but the relationships and the friendships continued to this day. We still touch base with them once in a while, make sure that if they have any questions around navigating the U.S. market, we’re there for them because we want everyone to succeed at the same time.
    … When we were transitioning to a creation business, we were not only giving them connections to the networks that we had with the retailers. But, we were asking our customers to not forget about these products or brands. We were giving them site links to those products to continue to shop them because we curated them for a reason.
    Why Marketing Product Differentia is Key
    [00:31:40] Gay: Did you ever have any doubts at that time that this was the right move, or were you 100% confident? 
    [00:31:53] Chang: I don’t think we had doubts per se, but then it’s really hard to gauge the level of success a brand will have. There are so many brands in the industry. We’ve had many conversations with many people in the industry about how saturated the market is. So each and every brand that comes into existence needs to have a real point of difference and a real reason. I think with Glow Recipe Skincare, we were able to really distill some of those personal experiences, those personal passion points into the brand.
    … How do we provide products that are different and really add value to [the customer’s] routine when they buy it and make it part of their skincare wardrobe? That perspective, I think, has continued to serve us. And it goes back to those early days where we ourselves were answering every single customer email and writing notes to every single person who purchased from our site.

    Balancing Community and Product Management
    [00:33:32] Gay: I’m wondering how you balance keeping that customer-first, community-first mentality with some of the less glamorous aspects of creating a product.
    [00:33:46] Lee: We’re first-time entrepreneurs. One of the things that we’ve learned, are still learning, is how do we balance everything when we have to oversee everything as founders and co-CEOs. I think the great benefit that we have today is that we have such an incredible, talented team. … I can say with confidence, that they just understand the social space. A lot of our team members are actually relatively young and very plugged into TikTok. So they just have their ears and eyes on the … social media landscape in realtime. Because of that, we’re able to not only react quickly, but proactively share what we have going on transparently with our community.
    … That communication aspect, but also the decision making internally for the business has been really instrumental. … We think of every team member as a content creator. When we hire people, we always ask about their storytelling aspect, or photography skills.
    … And we often have brainstorm sessions with our team members, just tasking people to think about a challenge that we’re facing, whether it’s a marketing initiative or a new campaign idea where we’re stuck and we want everyone to contribute,
    Chang and Lee’s Top Leadership Challenges
    [00:37:49] Alexis Gay: What keeps you up at night? What’s hard right now. What challenges you as co-CEOs?
    [00:38:06] Lee: It’s a really timely question because there are some key challenges that we’re facing today where, as a company, we’re very rapidly growing. We’re very grateful for that, but that comes with a challenge around how we can make sure that everyone stays motivated and our culture is maintained.
    … I think any entrepreneur can relate with something like this. Cause at any point of your entrepreneurial journey, your team pretty much makes up most of what makes a success or not. … I think people s everything. And so we’re trying to figure out how to, you know, hire because we do need to have at least 10 people more on our team and the next few months.
    [00:38:52] Chang: We do have a lot of brainstorm sessions because the team is full of ideas and we love having those creative conversations and just really giving everyone an opportunity to voice their thoughts and opinions.
    … Going forward, it’s really up in the air, right? Because is that day in the life going to take place at an office, is it going to continue to be worked from home? These are questions I think every founder, every company owner’s, grappling with as we move toward getting out of the 100% work from home time that we all had to be in.
    To hear the full podcast, as well as other episodes, check out The Shake Up on the HubSpot Podcast Network. 

  • Webinar Landing Page 101: How to Convert More Visitors Into Email Leads

    To ensure the success of your webinar, you must get as many people as possible to sign up for it.  The more people that sign up to attend your webinar, the more people you have to add to your email list and introduce your product or services to. Which is why it’s crucial you put…
    The post Webinar Landing Page 101: How to Convert More Visitors Into Email Leads appeared first on Benchmark Email.

  • Data Skew in Salesforce – Why it Matters

    As a golden rule within Salesforce, you should not have more than 10,000 records owned by a single user, with look-ups to one record, or related to the same Account record. This is known as Data Skew. Salesforce Data Skew types include: Account Data Skew,… Read More

  • Procurement Automation That Will Make Your Life Easier

    Most businesses battle the constant challenge of trying to scale efficiently. Sadly, they often end up overworking their employees, slowing down progress, and damaging future success. By replacing the human component in repetitive tasks with procurement automation software, organizations can free up time and resources… Read More

  • 6 Steps to Reduce Your Bounce Rate [+ Platform-Specific Tips]

    Your website’s bounce rate is a metric that indicates the percentage of people who land on one of your web pages and then leave without clicking anywhere else on your website – in other words, single-page visitors.
    How sticky is your website? If visitors bounce, it suggests they either didn’t find what they were looking for, or the page wasn’t user-friendly. A high bounce rate also means visitors aren’t looking for more content on your site, clicking on your calls-to-action, or converting into contacts.

    For inbound marketers whose primary goal is to attract and convert website visitors into highly qualified leads for their sales teams, it’s scary stuff. So, let’s get into how to decrease your bounce rates.

    Improving Your Bounce Rate Infographic
    Fortunately, QuickSprout has created an awesome infographic that explains why bounce rate is so important, highlights benchmark industry averages for bounce rate, and identifies a variety of changes you can make to help reduce your website’s bounce rate. Check it out!
    And if you want help converting visitors who are about to bounce from your site, try using HubSpot’s free lead capture tool Lead Flows to create a call-to-action with a relevant offer triggered by exit intent.

    Bounce Rate Benchmarks
    Having a benchmark is so valuable when trying to understand where you stand against competitors in your industry. 
    Find below some 2021 key statistics on bounce rates.   

    1. Set realistic expectations.
    When it comes to your bounce rate, it’s important to set the right expectations. As mentioned in the infographic, look at your historical data as a baseline for how your website has performed in the past.
    Then, compare it to the average for your industry and platform.
    Let’s say your company is a B2B brand with an average bounce rate of 56%. As seen in the previous section, the average bounce rate across industries is 47%, so you might say yours is really high.
    However, the data also shows that bounce rates are much higher for B2B industries, at 75%. So, at 56%, your company is actually doing quite well. While this doesn’t mean you should stop your efforts at reducing the bounce rate, it’s important to know how you stack up against benchmarks.
    In this case, where you’re only in competition with yourself, it’s time to rely on historical data to guide your strategy.
    2. Attract the right visitors.
    Picture yourself in a grocery store. You’re looking for a particular item and you go down an aisle. You look around and you can’t find it. So, what do you do? Leave the aisle and ask for help, or just try the next one.
    Think of your website as an aisle at the store. If your content doesn’t match the visitors you’re attracting, they’ll quickly leave.
    So, how do you make sure you’re attracting the right visitors?

    Create multiple landing pages with unique content and keywords for your different buyer personas.
    Maintain top rankings for branded terms.
    Write attractive, useful meta descriptions for search engine users.
    Improve targeting of online advertising campaigns.

    3. Prioritize the user experience.
    In this day and age, no one has the patience to navigate through a difficult website. You only have a few seconds to make a good impression and present a website that users enjoy being on.
    To do so, follow these steps:

    Make your text readable through sensible organization and the use of larger fonts, bulleted lists, white space, good color contrast, and large headlines.
    Use well-organized, responsive layouts that allow for quick and easy navigation on all platforms and browsers.
    Don’t let ads distract from your content: Place static ads to sides, and avoid pop-ups and self-loading multimedia ads.

    4. Speed up your page load time.
    Page speed is one of the main reasons website visitors leave a website. In fact, Google reported in 2017 that when a page load time goes up to 10 seconds, the bounce rate on mobile goes up 123%.
    Think about it: When was the last time you waited over a minute for a page to load? Most users’ first instinct is to exit and find another website to meet their needs.
    Several factors can contribute to a slow website:

    Image size

    Self-loading multimedia content.
    Site server

    The ideal page load time is two seconds or less. Make sure you test your page speed regularly to ensure it falls within that timeframe.
    5. Produce high-quality content.
    Content can make or break your website visitor’s experience.
    Your content should be:

    Engaging – Does your content make your visitors want to keep reading?

    Clear – Is your content easy to understand and digest?

    Relevant – Does it answer the question your website visitors are asking? Or is it clickbait (a big no-no)?

    If you’re not sure how to answer these questions, have an objective third-party review your content. You should also consider hiring a copywriter who is an expert at producing high-quality content.
    6. Monitor, test, and optimize.
    Every change you make to your website can have an impact on your bounce rate. From the placement of an ad to the content on the page.
    With this in mind, you must monitor your website closely to assess traffic changes. If you notice a rise in your bounce rate and a drop in visitors, run A/B tests to determine what page elements could be affecting your traffic.
    Once you identify the issue(s), optimize your page.
    When it comes to bounce rate, there’s always room for improvement. Use optimization tools (more on that in the next section) to identify opportunities to lower your bounce.
    Want to start optimizing? Use this checklist to maximize your website’s performance.
    How to Decrease your Bounce Rate on Shopify
    When you run an ecommerce business, monitoring your bounce rate is a priority, as an increase can drastically impact revenue.
    To first thing you can do to decrease your bounce rate on your Shopify website is to make sure your search campaign is aligned with your landing page. This means ensuring the keywords you’re targeting align with what you’re offering on your landing page.
    In addition, your landing page should be optimized for conversion by following best practices (e.g. clear CTA, no navigation bar).
    The next step is to add credibility to your page. You can do so by displaying customer reviews and testimonials as social proof. You can also add trust badges on your website to indicate you’re a reputable company.
    To further improve your page’s performance, add a live chat feature to assist website visitors as they shop. You may learn valuable insights from these interactions that help you optimize your page.
    Lastly, invest in tools like Optimizely, Hotjar, Unbounce, and Crazy Egg to better understand your visitors’ behavior on your site and identify areas for improvement.
    How to Decrease Bounce Rate of Your Blog
    Reducing your blog’s bounce rate is all about following tried-and-true formulas:

    Have a clear structure and page hierarchy – Using headers and subheaders help visitors (and search engines) understand what information is on the page and how it is organized.

    Use high-quality media – Photos, gifs, illustrations, and videos are great for breaking up long sections of text as well as diversifying your information delivery method.

    Make your content error-free – When users see a page riddled with mistakes, it can make them question the brand’s credibility and lead them to exit out of the page.

    Include a clear call-to-action – Having a clear next step for your website visitor will help guide them in the direction you want them to go. Want them to read other articles? Hyperlink them in your post. Want them to download an offer? Include the CTA in the post.

    How to Decrease Email Bounce Rates
    Email bounce rates are defined differently than bounce rates on other channels.
    An email bounce rate refers to the number of emails that are not delivered to a subscriber list. There are two types of bounce rates: hard and soft. The former refers to a permanent reason why the email cannot deliver while the latter refers to a temporary issue.
    For instance, say you have 100 email subscribers. You send an email blast and 98% of them receive your email. Your email bounce rate, in this case, would be 2%.
    The average bounce rate is 0.7%, according to Campaign Monitor. However, this number can vary slightly by provider.
    A bounce rate ranging between 0 and 2% is normal. Anything beyond that and you’ll want to look deeper.
    Here are some ways to reduce your email bounce rate:

    Use double opt-ins – Sending a confirmation email to a recipient with a CTA to subscribe will ensure the submitted email is correct and working properly.

    Clean out your subscriber list regularly – Removing inactive subscribers is another way to verify that your email addresses on file work are healthy and active.

    Invest in a reputable email provider – Free sender platforms will not cut it when it comes to email marketing. This means leaving your Gmail, Hotmail, or Yahoo accounts for personal use and looking into HubSpot, MailChimp, SendinBlue, and more.

    Designing a Website with a Low Bounce Rate
    Having a website with a bounce rate requires constant monitoring and maintenance.
    By making sure your content is aligned with your visitors’ needs, your content is easy to navigate, and your conversion elements are clear, you can keep a low bounce rate.
    Ready to start optimizing your website? Use this checklist as your guide. It includes everything you’ll need to improve your website performance, including SEO and security.
    Editor’s Note: This post was originally published in July 2014 and has been updated for comprehensiveness.

  • How to Launch a Product, According to HubSpot’s Product Marketers

    Like a tree falling in the woods, if you launch a product without spreading the word — will anyone use it? Will anyone even want it?
    Probably not. Whether you’re launching something huge, something small, or you’re updating a current offering, you’ll want to start your preparation well in advance of the launch date.
    This includes nailing down your positioning and messaging, sharing that with key teams and stakeholders, listing out all the launch activities, creating assets and content, prepping everyone involved in the launch, and so on.

    Because there are so many moving parts in this process, bringing your product to market can be intimidating and tricky.
    To help you, we’ve come up with a step-by-step checklist for a successful product launch and gathered the best product launch tips from a HubSpot Product Marketer.
    Plus, we’ll review how to know when to delay a product launch.

    1. Learn about your customer.
    Whether you call it “market research,” or “customer development” it’s key to learn about what drives your customer. Identifying their goals, motivations, and pain points could lead you to developing and marketing a valuable solution.
    You don’t need to perform years of intense research to learn about your customer. In fact, we suggest just talking to 12 to 15 current or prospective customers.
    When speaking to them, pay extra attention when they start sentences with “I wish a product did this function…” or “Why can’t products do this?” When they give these statements, respond with questions that go deeper, like “Can you get more specific about that?” If they don’t bring up any pain points, ask them a few specific questions that will encourage them to give deeper answers.
    These conversations will give you a solid idea of what their biggest pain points are and how you can market a solution to them. Once you learn these key details about your customers, you can develop a buyer persona that your team can focus on serving.
    2. Write a positioning statement.
    Write out a statement that can clearly and concisely answer these three questions:

    Who is the product for?
    What does the product do?
    Why is it different from other products out there?

    If you’d like to go even deeper, create a statement that answers the following questions:

    What is your target audience?
    What segment of the target audience is most likely to buy the product?
    What brand name will you give your product or service?
    What product or service category does your product lie in?
    How is it different from competitors in the same category?
    What evidence or proof do you have to prove that your product is different?

    Still need more guidance on how to write a positioning statement? Check out this template.
    3. Pitch your positioning to stakeholders.
    Once you’ve established your position statement, present it to stakeholders in your company so they are all on the same page.
    If your employees have a hard time buying into the product, your customers might as well. If your team loves it, that might be a great sign that the product launch will go well.
    4. Plan your go-to-market strategy.
    This is the strategy that you will use to launch and promote your product. While some businesses prefer to build a funnel strategy, others prefer the flywheel approach.
    Regardless of which method you choose, this process contains many moving parts. To create an organized strategy for launching your product, it can be helpful to use a template, like this one.
    As you create the strategy, also start considering which type of content you’ll use to attract a prospective customer’s attention during the awareness, consideration, and purchase decision stage. You’ll need to produce this content in the next step.
    5. Set a goal for the launch.
    Before you get started on the implementing your strategy, make sure you write down your goals for the launch.
    Alex Girard, a Product Marketing Manager at HubSpot, says, “Create specific goals for the launch’s success. Keeping these goals in mind will help you focus your efforts on launch tactics that will help you achieve those goals.”
    For example, the goals of your product launch could be to effectively establish a new product name, build awareness, or create sales opportunities.
    One of the best ways to set goals for your launch team is to write them out like SMART goals. A SMART goal is Specific, Measurable, Attainable, Relevant, and Time-bound.
    6. Create promotional content.
    After planning out your go-to-market strategy and writing your SMART goals, start producing content that will support and align with those promotional efforts. This can include blog posts related to your product or industry, demos and tutorials, and landing pages.
    Our go-to-market template will also help you determine which content you should create for each phase of your prospective customer’s buyer’s journey.
    7. Prepare your team.
    Be sure that your company and key stakeholders are ready for you to launch and begin marketing the product. Communicate with the company through internal presentations, Slack, or email to keep your company in-the-know of your launch plan.
    8. Launch the product
    Once you’ve completed all the above steps, you can launch the product.
    9. See how well you did achieving your goals.
    After you launch your product, track how the go-to-market strategy is performing. Be prepared to pivot or adjust aspects of your plan if they aren’t going smoothly.
    Additionally, don’t forget about the goals you set before the launch. See how well you did achieving those goals. If the launch didn’t meet expectations, you can rethink your go-to-market strategy and adjust from there.

    The cost of launching a new product varies significantly. For instance, an entrepreneur will see vastly different costs for launching a product on Amazon than an enterprise company might see for launching a product in a million dollar market. 
    Let’s consider two examples to explore this more closely. 
    In the first example, let’s say you’re an entrepreneur who has invented a design app you’re hoping to sell online. You might conduct market research to determine which marketing strategies work best for your goals, which messaging resonates best with your audience, and which design elements appeal to your desired prospects. If you use a few focus groups to determine these answers, you might expect to spend roughly $5,000. 
    When you’re bringing a new app to the market, you’ll need to choose the best go-to marketing strategy for your needs. Regardless of the strategy you choose, they all cost money. For instance, product branding could cost roughly $1,000 if you’re paying a designer to help you out, and website design could cost anywhere from $500-$3,000 if you’re paying a web designer a one-off fee. 
    These fees don’t include the cost you need to pay yourself and any employees if this is a full-time job. It also doesn’t include the costs of hiring an engineer to update the app’s features and ensure the app is running smoothly. 
    With this simplified example, you’re looking at roughly $8,000. Of course, you can cut some costs if you choose to do any of these tasks yourself, but you might risk creating a subpar customer experience.
    On the other end of the spectrum, let’s consider a large enterprise company that is launching a new product. Here, you’ll likely pay upwards of $30,000 – $50,000 for market research.
    Perhaps you’ll spend $15,000 on brand positioning and the marketing materials necessary to differentiate yourself against competitors, and you might pay upwards of $30,000 for all the product design and brand packaging. Finally, your marketing team could need a budget of roughly $20,000 for SEO, paid advertising, social, content creation, etc. 
    All said and done, launching a product against other enterprise competitors’ could cost roughly $125,000. Again, that doesn’t include the costs you’ll pay your marketing, product development, and engineering teams. 
    How to Launch a Product Online
    To launch your product online, you’ll want to ensure you’ve followed the steps above. However, there are a few additional steps you’ll want to follow to gain traction primarily online. 
    1. Figure out the story you want to tell regarding your product’s bigger purpose. 
    What story do you want to tell across social platforms, landing pages, and email? This is similar to your positioning statement, but needs to be geared entirely towards your target audience. Ask questions like, Why should they purchase your product? And How will your product or service make their lives better? 
    Communicating cross-functionally ensures the communication materials you use across various online channels align — which is key when it comes to establishing a new product in the marketplace. 
    Consider, for instance, how Living Proof announced its new product, Advanced Clean Dry Shampoo, on its Instagram page. The story revolves around a simple nuisance common with most other dry shampoos — How consumers still want that just-washed feeling, even when using a dry shampoo. 

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    By focusing on how the product will benefit consumers through storytelling, and using a new hashtag #NoWastedWashes, Living Proof builds excitement and demand for its new product. 
    2. Display customer testimonials, case studies, and other social evidence to positively frame your new product. 
    Consumers want to see that other consumers have already taken the risk and purchased your new product before doing it themselves. This is where social proof comes into play. 
    In the weeks leading up to a product launch, or shortly after its launched, begin posting customer testimonials, reviews, and case studies to showcase how your new product has already helped other people. Take this a step further and employ influencers to share the word about your product as well, if it’s a good fit for your brand. 
    Consumers are smart enough to know they shouldn’t trust every advertisement they see — but they can trust fellow consumers. So leverage that trust through social proof methods. 
    3. Create a social and email campaign. 
    Create a full, comprehensive social media campaign to increase interest and awareness in your new product.
    Use paid advertising to reach new audiences, create full product explainer videos to use across your social channels, and use email to reach existing customers and provide an exclusive, first look at your new product’s features.
    Additionally, you might consider hosting a live stream to connect directly with prospects and existing customers, and invite experts from your product development team to explain the new features of your product. 
    It’s important to note — in this stage, you’ll want to pay attention to how consumers are interacting with the communication materials regarding your new product. Share concerns and feedback with the product development team — it’s important to trust your consumers and use their feedback to strengthen your product. 
    4. Have a pre-order option. 
    If a consumer is excited to purchase your new product, don’t make them wait — provide an option to pre-order the product or service before it’s even available. This helps spread out demand, while enabling consumers to purchase the product whenever they’re feeling most inclined to do so.
    Product Launch Best Practices by Industry
    1. How to Launch a Digital Product
    When launching a digital product, you’ll want to begin building anticipation with a strong content marketing strategy. Use blog posts, email marketing, social media, and other channels of distribution to increase interest and demand for your digital product. 
    You’ll also want to ensure you’re leveraging lead generation strategies to reach existing customers and prospects. 
    For instance, let’s say you’re launching an online course on SEO. In the weeks leading up to launch, you might create SEO-related blog content to send to your email subscribers with an option to join the SEO course’s waitlist. This helps you gauge the effectiveness of your marketing materials while reaching an audience that has already demonstrated interest in your brand. 
    How to Launch a Product on Amazon
    Anyone who’s ever shopped on Amazon knows the importance of a good product listing. In the week’s leading up to launch, take the time to create a strong, high-converting product listing — including taking high-resolution photos of your product, writing a description that outlines your product’s differentiating features, and using keywords to help your product rank on Amazon. 
    Additionally, product reviews are incredibly important on Amazon, so you’ll want to ensure you have reviews ready-to-go before you even launch your product on Amazon. To do this, ensure you’ve either launched your product on your own website first (which gives you time to earn reviews before launching on Amazon), or send your product to a select group of interested buyers ahead of the full launch, and collect reviews from them. 
    Finally, ensure you’re ready for an Amazon product launch by checking inventory. You never know how quickly your product might gain traction on the ecommerce super-store, so make sure you have enough product to fulfill Amazon orders quickly. 
    Take a look at HubSpot’s The Ultimate Guide to Selling on Amazon in 2021 for more information related to Amazon. 
    How to Launch a SaaS Product
    To launch a SaaS product, you’ll want to start by researching competitors and understanding the marketplace at-large. There’s plenty of demand for SaaS products, since more than 38% of companies work almost entirely on SaaS. However, the SaaS industry is also well-saturated, so before launching a SaaS product, you’ll want to determine how your product differs from all the others in the industry. 
    To create a successful product launch, you’ll want to conduct market research and focus groups to determine the true benefits and differentiators of your product. 
    Next, you’ll want to employ a strong content marketing strategy to increase your website’s visibility on search engines, and to ensure your business is appearing in search results for topics related to your product. 
    Since you aren’t launching a physical product, your marketing efforts need to convince businesses that your product can solve for their needs. For instance, take a look at how HubSpot positioned the new Operations Hub product in this introductory video: 

    Additionally, you might want to offer free trials or a freemium option for smaller businesses on lower budgets to test out your offerings before committing. 
    For a full SaaS rundown, take a look at HubSpot’s Ultimate Guide to Software as a Service (SaaS). 
    How to Launch a Food Product
    To launch a food product, you’ll first need to ensure you’re prepared for the costs required to do so — including how much it costs to package and store the product (including packaging, warehousing, and distribution), and how much it costs to sell the product (including branding and digital marketing). 
    Next, you’ll want to follow federal and state food regulations. For instance, you need to ensure you’re following health department rules for food preparation surfaces, refrigeration, and sanitation.
    You’ll also need to make sure the labeling you use on your product’s packaging is accurate, which requires you to send your food product to a lab for analysis, and check with your state commerce to see what it requires when it comes to nutrition labels. 
    When launching a food product, you’ll likely want to hire a food broker. A food broker can foster relationships with national or local grocery stores, and will create a promotional plan to help increase sales as soon as your food hits the shelves. 
    Typically, a supermarket will test out your product for a few months before determining if there’s enough consumer interest to keep it stocked — which is why a food broker can be incredibly useful for using business intelligence and industry knowledge to ensure a successful food product launch. 
    Product Launch Tips
    To learn the best practices for a successful product launch, I talked to Alex Girard again.
    The HubSpot Product Marketing Manager said he had three main tips for a successful product launch:

    Your product positioning should reflect a shift you’re seeing in the world, and how your product helps your customers take advantage of that shift.
    Create a recurring schedule for you and the core stakeholders for the launch to check in and ensure you’re all on the same page.
    Make sure you keep the product team in the loop on your marketing plans. The product team could have insights that inform your overall marketing campaign.

    However, sometimes, external factors might impact your ability to launch a product. When that happens, you might need to delay your launch.
    How to Know When to Delay a Product Launch
    To understand when, and why, you might hold off on a product launch, Girard told me there are three key reasons why you might want to delay a product launch, including:

    When your product itself isn’t ready, and you need to change your timeline to create the best customer experience possible.
    If a situation occurs where your current customers are having a less than optimal experience with one of your current products. Before launching and promoting a new product, you should make sure your current customers are satisfied with your existing product offering.
    If something occurs on an international, national, state, or local level that requires your audience to readjust their priorities and shift focus away from your company and its product launch. Make sure that when the time comes to launch, your target audience is ready to learn about your new product.

    If you’re looking for templates to coordinate your team efforts and align your company around your new product’s messaging, download our free product marketing kit below.
    Editor’s note: This post was originally published in November 2015 and has been updated for comprehensiveness.