Launching a product during the holiday season certainly presents a number of advantages. However, it should be noted that a holiday season product launch also presents a number of unique challenges.
Launching Products During Holiday Shopping Season
Once the Christmas bells start to ring, consumers are immediately bombarded with advertisements, and retailers are fiercely competing for holiday shopping dollars. Here’s how to leverage the holiday season shopping frenzy to successfully pull off a product launch.
Launch sooner rather than later
If you are trying to target holiday shoppers, don’t wait until Christmas Eve to launch your new product! The goal is to launch strategically so that you maximize your leverage among holiday shoppers. Figure out when and where your target consumer will be doing his or her holiday shopping prior to launching your product.
Get on social media
New research shows that social media has a major impact on purchasing choices made by holiday shoppers. “More than half of users (52 percent) say they learned about a product they later purchased because of Twitter, and it’s so convenient to find gift ideas on Twitter that 39 percent say Twitter serves as their new holiday shopping list,” a recent Twitter study found.
You’ll also want to spark conversation about your product and brand on social media near key shopping days. “Every year, holiday shopping conversation on Twitter peaks on key days like Black Friday,” the Twitter study also found. “In November and December 2013, the correlation between conversation about buying televisions on Twitter and sales volume was 0.98 (with -1 indicating no relationship, and 1 indicating a perfect relationship). The results for laptop shopping were similar: our analysis showed a 0.84 correlation between the conversation and sales.”
Invest time and energy into crafting holiday promotions
The key to success when it comes to holiday launches is an effective promotion. Offer a discount or special deal to effectively promote your product. When it comes to the holidays, consumers want to get the most bang for their buck. Be sure that your brand is helping them do so.
Pivot International is a product design, development, and manufacturing firm. If you are interested in engineering a new product or updating an existing product, contact us at 1-877-206-5001 or request your free consultation today.