14/05/2021
Selling new products and planning a product launch on social media is a huge opportunity to attract new followers, make sales, and convert your existing audience into customers.
Unlike a traditional in-store promotion, social media means brands can now reach thousands of potential customers when they bring something new to market.
š« Itās not as easy as sharing a single post on launch day.
ā
A successful product launch requires careful planning and preparation.
1. You need to have primed a WARM audience: this means having a content strategy and creating hype well before your launch date.
2. Youāll need a BULLETPROOF Launch Strategy: without knowing how youāre going to bring this new product to market...from setting your goals and developing a strong creative concept, to building a post-launch content plan...you wonāt have generated buzz or purchase desire which will lead to fewer conversions.
3. Knowing your conversion rates are SUPER important. Study your previous products CRs %
If this is your first product launch Iād aim for:
If you have a following of 10K...
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Wait list/ pre-order list: 330 customers
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Sales: 50
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Conversion Rate: 0.5%
Having a small š„ audience allows you to hit your sales goals and increase your ROI.
If you have a larger audience of 100K...
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Wait list/ pre-order list: 1000 customers
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Sales: 100
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Conversion Rate: 0.1%
You might have a large audience HOWEVER.. that doesnāt mean your sales will reflect your follower count!
Happy Friday LAM FAM!
Enjoy your weekend š