Are you considering launching a new product or manufacturing your own products? If so, you’re likely feeling some stress about the process. However, it’s not rocket science, so there’s no need to overthink it. You can accomplish it in five simple steps, from the initial idea and concept to the launch, using straightforward tricks.
Decide on the Name
- The domain name must be memorable, brandable, and available. In short, you can refer to it as ‘MBA.’ The goal is to raise brand awareness, generate interest, convert people into customers, and ideally, retain them for a lifetime. We suggest going for .com as it is the universal extension. However, if you are focusing on a local business, you can use your country code, e.g., .uk. The decision can also be influenced by your niche. Just because .com is mostly used doesn’t mean it’s the best option for everyone. Other domains might work better for your business.
Secure a Manufacturer
- The most crucial aspect when finding a manufacturer is their reliability. If products are not ready on time or are defective, your entire plan will be jeopardized. Therefore, when launching a new product or starting a business, your choice of manufacturer is a determining factor. Effective communication between you and potential manufacturers is essential. If they take too much time to respond or don’t fully understand your needs, consider eliminating them from the list. Remember to clearly state your requirements and conditions.
Lay the Groundwork to Build the Brand
- Design and create the logo, labels, packaging, and the website. The website and packaging don’t have to be 100% perfect from the beginning; you can revise and recreate them later if needed. However, for the logo, it’s not advisable to change it frequently, as people tend to recognize the brand by the logo rather than the name.
Get Your Website Fully Functional
- Even if you’re not ready to sell products, ensure your website is up and fully functional as soon as possible. Why? Because you can collect data from visitors to use in the future to improve user experience and conversion. Only with real visitors can you assess how well the conversion is going. Based on this information, you’ll need to test and optimize the site.
Set Goals and Establish Advertising Channels
- Considering your limited budget at the beginning, narrow down advertising channels to a few solid ones and scale them up. Later, you can explore additional traffic sources as your budget expands.
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