It is not about how much was spent but how it was spent, this is what matters when it comes to spending to launch a product to the market.
You do not have to bother yourself with huge funds to push your product launch, you have successfully gone through all the process of an ideal conception of the product, launching it is a necessary step but you do not need to spend all your company funds on launching the product, there are ways to launch a product in an affordable cost-effective manner.
Here are simple steps to launch your product within your budget
Make use of the digital space
Results speak for itself and the digital space definitely has a lot of results if properly used. If you want to launch your product with a low budget, it is advisable to make use of more digital campaigns for conventional campaigns.
Digital marketing campaigns if well implemented can have a high conversion rate with a reasonable budget which can be tracked as compared to conventional marketing.
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Do not forget the place of conventional marketing and advertising, they also have a role to play in your product launch. Do not place your whole focus on it, but also make use of it according to how your budget can allow. Conventional marketing and advertising are quite expensive, placing ads on TV, radio, newspaper, billboards, and the likes, but it also brings result so with your budget in consideration if it can accommodate one or two of this medium then make use of it, but f your budget cannot accommodate any then you should know that you would focus on heavy digital marketing to launch your product. WE CAN HELP WITH THIS, CLICK HERE TO CONTACT US.
If you have not done your market research before now, you need to spend enough on market research, the result of this research can help streamline the channels you would use to promote your product, rather than just using different ones that would cost you a lot and would not bring maximum result.
Make use of your employees and contacts.
Your employees are ambassadors of the company and as well the product, so they can help promote it on personal platforms, mouth to mouth, and so on.
As a business owner, launching your product is also a personal task, you would need to publicize it personally to people within your contacts and also ask people that can to help publicize it, mouth to mouth advertising is slow but also has an effect on the overall publicity and product lead generation.