Your product is now ready to hit the market — but do you know how to market a product? Let us guide you through it with these practical product promotion tips!
How To Market A Product | Effective Marketing Tips
1. Establish Your Branding
Congratulations! You have created a new product and are now ready to bring it out in the market. If you are new to this, you may be wondering, “How exactly can I cut through the competition?”
Any good marketer will start with branding. Keep in mind this is one of the elements that will set you apart. You may already have some of the essentials nailed down, such as your company’s mission, vision, and initiatives. The next thing you need to do is to establish your product branding strategy. This should align with your company’s initiatives.
Your company has its own name and logo, and your product brand should have them too. If you are not a branding and design expert, it is best to hire a professional graphic designer to do this work.
It is good to have a product brand name that is relevant to its purpose. This way, you can leverage brand association better. Your brand logo should be easy on the eyes but unique enough to be memorable. Remember, this will be part of your packaging and all your promotional materials.
Also, don’t forget to design your product packaging. Aside from having a practical packaging, its design should also be aesthetically-pleasing. This can attract customers to try out your product and help them remember it more.
2. Bring Your Product to The Market | Techniques to Sell a Product
Once your product and branding are ready, the next step is to dive right into marketing your product! There are several ways of how to market a product, and bear in mind that there is no one right way of doing things. Your marketing strategy will depend on your unique needs and capabilities.
Let’s go through the different ways on how to launch a new product in the market:
Build Your Own Website
One of the ways of how you can establish your company and product’s credibility is by having your own website. Here, you can introduce your company, your people, and your products to everyone. It is an accessible source where people can learn more about you and what you offer.
Make shopping more convenient for your customers by adding a shop feature in your website. If you have an account set up in shopping sites such as Amazon, you can also link it to your website’s shop page.
Another way to keep existing customers and attract new ones is by publishing relevant blog content. You can also make use of and maximize search engine optimization (SEO) in your blog posts.
One idea is to feature your products in a gift guide list for a specific occasion. Then use SEO to make the blog post rank high in Google search. This is one effective way how to market a product.
Remember, always produce relevant content that adds value to your consumers.
Maximize the Reach of Social Media
Social media provides a convenient bridge between brands and customers. Brands can start conversations and interact with their fans through social media. This platform has also proven itself useful in selling products.
There is an array of choices through which you can bring your brand and product to your market. Social media sites such as Facebook, Instagram, Twitter, Pinterest, and YouTube are easily accessible. These platforms grow along with the changes in the market, and they also perceive what their users need.
You can market your product using social media through paid and organic ads. Some businesses also tap social media influencers to help them gain more exposure. Facebook, Instagram, and Pinterest even offer an option for businesses to sell products in their platforms.
When you use social media the right way, they can deliver good return of investment.
Put Up Internet Ads
While you’re promoting your brand and products in social media, supplement it with Internet ads. Online advertising has a wide reach and it is cost-efficient. This is recommended if you have an ongoing promo in your website or social media pages.
You have options such as banner ads, pop-up ads, sidebar ads, and Google AdWords. Use Internet ads to drive traffic to your website or social media pages, where you can tell people more about your offers.
Use Email Marketing
Email marketing has been around for a long time. This is a good way to promote your product directly to your target market. You can collect email addresses from your customers or get an email list from a reputable source.
Craft a concise and personalized email to introduce your company and your products. Make sure to add in good reasons why they should purchase your product and tell them where they can buy it. Hook in the customer through special offers, such as a sale and digital coupons they can use for purchase.
One downside of email marketing is the possibility of ending up in someone’s spam mail. Make sure you avoid this so you can maximize the benefits of email marketing!
Use Traditional and OOH Advertising
Even though most people are already in social media, the truth is, not all people are. Your target market may not even be tech-savvy at all. That is why traditional and out-of-home (OOH) advertising are still important.
Figure out if you need to promote your product through print, radio, or TV ads. This will largely depend on who your target audience and budget are. Out-of-home advertising can support traditional advertising through billboards and transit ads.
Another option is to create a press release for your product. You can pitch this to a local, national, or industry-specific publication that will reach your target audience.
Participate In Trade Shows And Pop-ups
Trade shows are often industry-specific events where businesses come together. This makes it easier to gather the right customers in one place.
Pop-ups are compact stores where you sell your products for a limited period of time only.
Through trade shows and pop-ups, you can establish rapport with your customers and directly sell your products to them. It allows you build a connection with your end users. When you get to know more about them, you can create targeted products in the future that will meet their needs and wants.
3. How To Market A Product: Use Effective Marketing Tips
When you figure out which platforms you will use to market and sell your product, it’s time to employ effective marketing techniques. Here are powerful strategies of how to market a product successfully:
Sell The Experience
Highlighting your product’s features and benefits isn’t enough. If you want to engage your audience, sell the experience and tell your product’s story. This means letting your audience know your motivation in bringing your product to them. Let them know that your business cares about them through your product’s story.
Selling the product experience also means helping them envision how your product can meet their needs or overcome their pain points. You let them know who they can be after using your product.
You’ll notice that the most impactful advertising materials are the ones that tell a story. They don’t hard-sell the product. Often, it is featured only on the side, but it still holds an integral role in achieving the story characters’ goal.
Deliver On Your Product’s Promise
One of the ways of how your product can attract customers is through its promised benefits. Consumers don’t want products — they want solutions. If you tell them your product can answer their problem, then they’ll be interested.
Promise product benefits that will answer your target market’s needs and help them overcome their problems. A deep and thorough knowledge on your target market is essential for this very reason. If you want to help them, you need to do it the right way.
Make sure your product delivers on its promised benefits. Consumers are getting smarter on their choices, and they often rely on referrals and reviews when looking for a product.
An exciting promise will attract customers, but their personal experience on your product is what will make or break the relationship you established with them.
Avoid Going Against Consumers’ Brand Perception
Do you have a new product that belongs to a category that’s different from where you are established on? Don’t make the mistake of straying too far away from consumers’ brand perception!
Consumers often associate a certain company or brand with a specific product category. If you are a market leader in your product category, chances are, consumers have a fixed perception on you.
If you want to branch out to other categories, creating a new product line may be the best choice. There are a lot of companies that house different and unrelated products. They have managed to break through the mold by creating a new product line to answer consumer needs. This allows them to have a diversified portfolio while keeping their company and brands as household names.
Distribute Relevant Promotional Products
Promotional products increase brand awareness and bring value to end users. The great thing about these is they are not limited for consumers only. You can use promotional products even for internal marketing within your company.
Invest on promotional products that are memorable, useful, and relevant to your brand. This way, you can maximize brand exposure and gain a good impression from your recipients.
Promotional products are also cost-efficient. And the more useful they are, the longer people will keep them. So with the right promotional products, you can get your money’s worth.
Increase Demand Within Your Existing Customers
In your quest to gain new customers for your product, don’t neglect your existing ones. After all, it is easier and less expensive to maintain your current market than to get a new one. Your customers are already interested in your product, and they stay because of their experience.
You don’t necessarily have to gain new customers to meet your sales goals. If you already have a large market, you can simply increase their demand for your product.
Up their brand loyalty by expressing your appreciation for them in a tangible way. For instance, you can give them special offers and rewards as a way of saying thank you.
Go Beyond Your Competitors’ Comfort Zone
What else will set you apart from competition? Lead the pack and market your products in a way they won’t! This move takes a lot of guts, and it doesn’t come without failure. If you really want to set yourself apart, you need to break away from the norm.
A lot of your competitors will want to play it safe once they find their own market in the industry. You will find, though, that staying in your comfort zone will only make your business stagnant. Don’t be afraid to take risks, and even fail at times. This is how you will learn how to market a product in the most impactful way possible.
Lastly, when you experience failures, make sure you fail forward. Take it all in stride and use it as a learning experience. Avoid wallowing in your failure. Instead, use it to propel your business forward. After all, you just found out one way how you shouldn’t market your product.
Moving out of your comfort zone will enable your business to grow. Through your experiences and failures, you will discover how to market a product successfully.
Learning how to market a product takes a lot of trial and error. You need to be patient, resilient, and optimistic when marketing your product. As with others, your determination to get things right will eventually pay off. By applying these practical tips and principles, you will learn how to market a product successfully.
Do you have your own sales techniques? We’d love to know about them in the comments section below!