Key Strategies for Marketing New Versus Existing ProductsWhen it comes to crafting a message and communicating it to the market, one size doesn't fit all. Your PR and marketing will differ depending on your product's age.
ByCara Sloman•
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PR and marketing are essential elements in your product's success. However, when it comes to crafting a message and communicating it to the market, one size doesn't fit all. Your marketing and PR strategy will differ based on your product's age.
For a new product, you must define your target market and the people who would be best served by your product. You'll need to clearly define your competitive differentiation so you can develop the value proposition and messaging. In addition to PR programs and marketing campaigns, an analyst-relations strategy is essential in successfully introducing the new product to the market and gaining recognition.
For an existing product, you've likely already done the above at the time of launch and now have a solid foundation to build momentum and brand recognition. Your goal will be to expand awareness, roll out feature enhancements, optimize customer experience, showcase customer successes that prove your credibility and build loyalty. You also want the sale of this product to lead to sales of your other products, and effective communication will help you achieve that.
