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Launching a new product is never easy, especially for smaller businesses. Companies with a small share of voice can get lost in a sea of similar products, even if theirs is better. Failure to use any form of digital marketing opportunities makes it difficult for prospective customers to find new products. Poor promotional efforts can directly lead to fewer profits, and – in the worst-case – losses.
Luckily, the digital sphere has helped to level the playing field between large and small businesses when it comes to promoting new products. From search sites like Google to social media sites like Facebook, companies can get their products in front of their desired audiences in easier ways than ever before.
Digital marketing is any form of marketing done through the internet or with an electronic device. With more and more people going online every day, it’s no surprise companies are beginning to allocate large amounts of their marketing funds and focus to the digital world. There are countless digital marketing opportunities for businesses to explore. The global digital marketing industry was estimated to be worth $192 billion in 2018.
Don’t have a large marketing budget? That’s ok! Digital marketing can be done at any price range and can actually end up saving your business’s marketing team loads of money while increasing sales. These 5 digital marketing opportunities for new products will help to immediately boost your online presence and increase sales without wasting any money.
1. Facebook Ads
It’s no secret Facebook is a popular social media site. It was recently reported that Facebook has 2.5 billion monthly users. This number alone is a great reason for digital marketers to get excited; however, Facebook helps even more.
Through Facebook Ads, digital marketers are able to segment users into desired audiences and pay to get their messages in front of the exact customer profile they are looking for. This digital marketing opportunity is more than ideal for new product launches, as it instantly gets the message in front of the perfect audiences.
Their data collection makes it easy for digital marketers to filter with gender, age, location, job, interest, and more. Facebook Ads also provides the freedom to choose from different types of ads at different price ranges, while also allowing digital marketers to stick to their budget by setting daily or monthly spending caps.
These Facebook ads, from P.F. Chang’s and Project Repeat, show how naturally a sponsored message can appear on a user’s feed. The short messages and direct calls-to-action are some of the many reasons why Facebook ads can be effective.
These Facebook usage stats alone could convince anyone this is a digital marketing opportunity that cannot be passed up on:
- 1.59 billion people use Facebook every day
- Facebook stories are seen by 500 million people every day
- 83% of all Women and 75% of all Men on the internet use Facebook
- 69% of all U.S. adults use Facebook
- 88% of online users between the age of 18-29 are on Facebook
- 93% of marketers use Facebook Ads regularly
- The average CPC for Facebook Ads is $1.86
- The average CTR is 0.9%
- The average CPM is $11.20 (Learn more about CPM here!)
- Facebook’s share in the digital advertising market is 19.7%
- Facebook’s potential reach of advertising is 1.9 billion
2. Google Ads
Google Ads are the primary source of generating income for the digital giant, which speaks volumes about this digital marketing opportunity. It’s also the perfect site to use for the promotion of new products.
Google Ads uses a similar approach to PPC (pay-per-click). Advertisers only pay the publishing websites when a lead clicks on the posted ad. Similar to Facebook Ads, Google Ads helps place your company’s promotion in front of relevant audiences.
Due to Google’s popularity, four out of five companies choose to run ads through them. These PPC campaigns result in massive improvements in brand awareness, with many brands claiming that their Google Ad campaigns resulted in doubling their initial marketing investment.
The best part about Google Ads, however, is the extensive access to consumer analytics they provide you. These figures, which are specific to your campaign, will help your company figure out what’s working and what’s not. This helps you make the necessary adjustments if your return on investment isn’t where you want it to be.
This Google Ad by Direct Line is easily recognizable, encourages clicks, lists benefits, and has a call-to-action. It’s also relevant to a “car insurance” search.
The example also shows how Google Ads helps get traffic to your site more efficiently than search engine optimization (SEO). This traffic generation is a key component to driving conversions, especially when it comes to new product promotions.
3. Email Marketing
Email marketing is by far the cheapest and most reliable digital marketing opportunity. This strategy can promote your product while effortlessly converting prospects into customers. It’s also a great way to stay relevant and fresh in their minds.
Use these tips to help improve your email marketing efforts:
- Find out the best time to send your emails through research and execute
- Increase customer engagement with A/B testing
- Add to recipient’s name to the email to make it more personal
- Include a subject line with over 70 characters
- Send customer review requests
- Send company updates and other relevant information
Although it sometimes feels like you’re spamming customers with information, a lot of them choose to join your mailing list for a reason. Promotional updates and company messages are valuable to loyal customers and can help strengthen your relationship. These messages are also extremely useful when it comes to creating excitement about new products.
This call-to-action email by Adobe is to-the-point and easily guides prospects to their website.
Want to learn more about Email Marketing? This blog goes in-depth on Video Email Marketing, and explains how it can easily improve your digital marketing efforts.
4. Social Media Posting
There’s a lot more to social media than just Facebook, and the digital marketing opportunities presented by other sites are too good to not mention. Facebook Ads showed us how many people are active online these days, but people aren’t just on one site. With the number of social media users growing daily, posting across multiple sites will help you improve brand awareness and sell new products.
Making a post about your product isn’t difficult. Just make sure you include its features and how beneficial it can be to your prospects. Don’t hesitate to include anything you think might increase excitement around your new product.
This Instagram post by All Birds, an athletic shoe brand, is simple but does its job perfectly. The beautiful picture of a running trail encourages Instagram users to get out there and run, but it also reminds them to wear All Birds while they do.
You can also create a hashtag that is specific to your brand, product, or campaign. This will increase the visibility of your product and create consistency across sites. Giveaways, polls, and other contests are always a great way to engage customers and build relationships.
If you’re not sure where to get started when it comes to running a social media campaign, check out this blog about it!
5. Content Marketing
Content marketing refers to the creation of multiple types of online content your company creates to improve the channels of promotion for your product. This can help strengthen the other digital marketing opportunities because it helps prospects learn more about the product, and customers generally buy what they know.
Some common forms of content include blog posts, infographics, videos, podcasts, testimonials, social media posts, white papers, website pages, and more. You can use any type of creative content to improve your brand’s reach and your company’s relationship with its customers. Whatever you choose, make sure you avoid these 5 mortal sins of content marketing.
Acorns’ website has a blog that discusses a number of financial topics. The popular investing app uses the blog to both inform customers and attract prospects. It aims to help people start building wealth by offering them tips, knowing that people who learn from them will want to use their app as well.
Videos are the most successful form of content marketing and are followed by blog posts, which are also the most popular. Understanding the types of content your desired audience wants is the most important factor in determining what you should go with. It’s also important to consider what would do the best job of showcasing the new product you’re trying to promote.