If you look around you, some companies have recently launched new products amid this global pandemic. King Kong is one of them, having recently launched a new online course called Quantum Growth.
King King’s founder, Sabri Suby, is here to share insights and advice on how you can still successfully release a new product during COVID-19.
As other businesses head into hibernation, you can choose to push hard and double down on your marketing efforts. This is how you can continue to sell your digital products even during this tricky time.
1.Turn Problems into Benefits
There’s high uncertainty in the market during this pandemic, and people don’t want to spend a lot of money. While some people may look at this as a problem, you can turn the challenging market conditions into an advantage.
Think of the most significant issues arising as a result of the pandemic and try to imagine how your product can be a solution right now for potential customers.
Even in the midst of life-altering pandemics, the saying, “truth is reality,” still holds. The market is full of challenges as the epidemic continues, and it’d be unwise to ignore them. The good thing is that those challenges represent opportunities that businesses should take advantage of.
The pandemic will blow over, but how long it’ll take for that to happen is unknown. When the situation finally takes a different turn, you want to have pushed your products through to market.
2.From “Nice to Have” to “Must Have”
Launching a product during a pandemic must be one of the hardest things for businesses to do. Potential and existing clients look at some of these products as “nice-to-have” items without the intention of buying them. With this kind of view, it’s almost impossible for them to convert.
For business leaders launching products during an epidemic, the goal is to turn a “nice-to-have” offering into a “must-have” product. This boils down to the type of product you’re selling. For example, candy is a nice-to-have product that doesn’t solve any urgent problem.
Vitamins supplements bring a positive impact over time but aren’t an urgent need. Painkillers offer an immediate problem to a pressing issue that needs a prompt solution. In times like this, you don’t want your product to be anything more than a painkiller.
If you check through history, you can see examples of companies that grew out of a crisis. Most of these survived because their products were designed as painkillers. Uber, Airbnb, Pinterest, and Slack are some products that were formed during the Global Financial Crisis.
These companies took advantage of cheaper office space and reduced competition. Partners were also open to signing quick deals. In a few years, the world will be full of companies and products that’ll take advantage of the current crisis.
3.Embrace the Marketing Rule Book
Your marketing strategy during a pandemic doesn’t have to be much different from your original strategy. The problems your product seeks to solve have been in existence, but how you talk about them has to change.
The delivery vehicle also has to change. For example, a 12-month strategy may not be the best fit at this time. Instead, a quick 30 or 90-day paid traffic campaign would be more effective. Businesses are different, and you should adjust the plan to your business’ specific needs.
Launching a new product during a pandemic can be more challenging. New and existing customers are more cautious about their spending habits. As a business leader, package your marketing message in a way that converts your product from a “nice-to-have” to a “must-have.”
This may entail restructuring your marketing language, as well as changing the delivery vehicle. Whether a pandemic exists or not, the problem of how to get your product to your customers exists. How you frame the problem and solution makes the difference.