How to create your new product launch strategy
February 26, 2021 | By: Denis Morentsov, Principal Product Manager
If you’re getting ready to sell a new product, we want to help you develop an effective launch strategy that sets you up to achieve your goals. Below we’ll explore what a product launch is, key elements to consider in your product launch strategy, and best practices for product launch advertising. We'll also share how Amazon Advertising solutions, including display ads, sponsored ads, and more, can help you drive results.
What is a product launch?
A product launch is a planned and organized effort to release a new product for sale—and it’s as important as developing a standout product in the first place. It allows brands to remain competitive, drive sales, gather feedback, and remain top-of-mind with customers.
New product launch checklist
There are many important elements to consider in your product launch strategy. Here’s a five-step checklist:
Best practices for effective product launch advertising
To make the most of your product launch advertising efforts, take into consideration: discoverability, awareness, targeting, remarketing, and creative formats.
Focus on discoverability
Increasing shopping discoverability is a key objective for any new product launch plan. Relevant placements in shopping results can help both jump-start new product sales and accelerate sales of your existing products.
One of the most critical factors of any new product launch is to educate customers about your new product and its differentiators. Choose an advertising solution or solutions that best help you do this.
Reach shoppers outside of the shopping results.
By using product targeting in addition to search keywords alone, you can reach high-purchase-intent shoppers who don’t use shopping results to find their next purchase.
Support your sales through remarketing
Remarketing is a term for connecting with audiences who’ve already expressed interest in your product—but haven’t yet converted to a sale. You can drive more conversions and grow your base by using different advertising products together, such as display advertising and Sponsored Products.
Optimize your creative
It’s important to look for ways to differentiate your product through your advertising creative. Using lifestyle images and video are two ways to help communicate your product messaging beyond the ad copy.
Launch your product with Amazon Advertising display ads, sponsored ads, and other solutions
Did you know that 75% of shoppers come to Amazon to discover new products, while 68% of shoppers “window shop” without having a specific product or brand in mind?1 This presents an opportunity for emerging brands to get their products in front of relevant audiences and be a part of their consideration set.
Amazon Advertising solutions can help amplify the success of your product launch in three ways:
- Helping audiences find your product so that it becomes a part of what they can consider buying
- Reaching browsing shoppers (those looking for products similar to yours)
- Remarketing to audiences who have viewed your product pages to lead them back towards buying your product
Following are several Amazon Advertising solutions that can help you launch new products with reduced variability of results. Variability measures how consistent to expect your results to be.
Sponsored Products enable discovery and sales of your products with cost-per-click ads in shopping results. This will help drive traffic to your new product’s detail page. By driving traffic, these ads can help increase detail page views and product reviews. Once your campaigns are live, you can monitor them and adjust your budgets and keywords to reflect key moments in your product lifecycle.
But what about shoppers who are not using shopping results to find their next purchase? For example, shoppers can start on external search engines and go directly to Amazon detail pages via links. Or they can browse Amazon by filtering for specific product attributes, such as category, average star reviews, or price. For these scenarios, our product targeting tactics provide an additional way to engage high-purchase intent shoppers on Amazon. When you use product targeting, you can reach specific audiences without having to rely on search keywords alone.
Sponsored Brands can help drive sales with engaging and actionable ads. The standard elements of our ad creative include familiar elements of the Amazon shopping experience such as price, star ratings, and Prime eligibility—providing shoppers the information and key product details they need, right within the ad placement. Sponsored Brands also give you the ability to customize your ad to showcase new product releases, different headlines, and various featured product combinations, and link to Store pages.
Stores help you build awareness around your new product and educate audiences about its features. Stores is a free, self-service product that allows brand owners to design and create multipage stores to showcase their brands, products, and value proposition on Amazon. Shoppers visiting a Store are able to see a curated collection of a brand’s products in an elevated, brand-centric shopping experience on mobile and desktop. Stores is the perfect place to start showcasing your new product features.
Sponsored Display enables you to remarket, grow your customer base, and drive purchases by reaching high-intent customers on and off Amazon. Sponsored Display complements your Sponsored Products and Sponsored Brands campaigns with additional targeting capabilities to help you reach audiences both on and off Amazon. For example, if shoppers initially show interest in your product or similar products but don’t purchase right away, remarketing will allow you to reengage them with display ads off Amazon as they browse third-party websites.
Amazon DSP is for advertisers looking to scale their display advertising. Amazon DSP will allow you to programmatically buy display, video, and audio ads at scale. You can engage relevant audiences based on lifestyle, purchase, and media consumption signals with ads that lead back to your Amazon detail pages. Ads can appear both on Amazon owned-and-operated sites and on leading publishers’ sites.
Better together: Use products in combination for the best results
We studied 3,000 products that launched in 2018 and found that advertisers who leverage multiple advertising solutions can reach shoppers in multiple parts of the shopping journey, both on and off Amazon—and reach their goals faster than if they were to use only one advertising product.2 In fact, advertisers who used Sponsored Products, Sponsored Brands, and Amazon DSP combined reached the study goal the fastest: 64% faster than baseline.3
See these successful product launch examples
When AJ Dezines decided to expand its portfolio, they used Sponsored Products to help launch new products that would help scale up the business, leading to incremental sales of over 2x and an ROI (return on investment) of 19X (1900%).
To launch the new KAMIQ compact SUV, ŠKODA drove awareness among audiences in the UK through Fire Tablet wake screens, IMDB billboards, and Amazon DSP. The campaign reached more than 2MM potential customers and drove a +50% increase in purchase intent among younger audiences exposed to the campaign.
Learn about our full suite of advertising solutions to maximize your product launch.
1 CPC Amazon Consumer Shopping Study 2019
2-3 Amazon Internal Data 2019