Now that your business is on Facebook, it is time to do more than just gain website traffic and fans. The next time you launch a new product or service, be sure to utilize these four tips for ensuring launch success on Facebook. The potential audience is massive, the cost is low and the feedback you receive is invaluable.

Build Anticipation With Giveaways

For the week building up to your product launch, host a contest or giveaway for fans to participate in. There are two ways to do this. First, post a status update with the contest information. State that you will choose a random name from everyone who comments or likes the post. This can also be done through a link to an entry form through a Facebook app, which automates the process.

The second method is to give away the upcoming product or something related to it each day. Offer a limited number of freebies. Those who sign up after the limit is met may receive a coupon or something of slightly less value.

Giveaways get people talking. You also gain more fans, which gives your product a bigger audience at launch.

Create Targeted Ads

Facebook users are not bombarded with ads. This means the few that are displayed are usually seen and even read. If the ad is appealing, users will click on it. Create a visually appealing ad. Use keywords, such as interests and locations, so the ad appears for the right people. Targeted ads get read far more than general ads. Use a witty line to get people interested in your product. A different ad each day for a few weeks also helps your product get noticed by more people.

Offer Freebies For Feedback

The best way for a company to know whether a product will be well received on not is through feedback. Ask fans to sign up to test or try your product in return for valuable feedback. Fans feel as if they truly matter, the company receives feedback on how to improve the product (if at all) and word spreads about the upcoming product release.

Get Your Product Noticed

Once you have thousands of fans, you can stick to the basics. Every day, provide more details about the upcoming product along with pictures. Pictures get people to actually read more. You can also offer links to more information on why fans would want or need your product.

Sharing details about your products on sites like digg, reddit, etc are also great ways to get your target audience to learn about and talk about your new product(s).