Powerfully Effective Ways to Market a Product
When marketing a product it is important to define and outline your target audience, research your competition, identify your outreach and sales channels, develop your product story and lastly launch your product. This blog gives you a 5 step guide showing you how to market your product effectively, within budget and to keep sales going post-launch.
Define your products ideal buyer
When marketing your product it is important to connect with your audience and convert them into a paying customer. To do this, you need to clearly define your ideal buyer and who is most likely to buy your product. Having an ideal customer will help you develop an engaging product story. Here are a few questions to ask yourself when picturing your ideal buyer:
- Age group
- Typical likes, hobbies and interests
- Level of education
- Potential household income
- Marital status
Research your competition
It is common for marketers to face competition when entering the market. This is not always a bad thing, it can actually be helpful in a few ways; it shows you if there is a market for your product you are hoping to sell, you are able to see what marketing tactics work, what don’t, and you can discover what consumers want from your product. A few things to research are; competitors’ websites, competitor marketplace listings, competitors’ prices, and social media pages.
Define your marketing tactics, tools and channels
In most cases, planning your marketing tactics should include these essential sales and marketing channels:
- Your own website: it is important for any business to have their own website. Having your own website means you can use high-converting retargeting and remarketing tactics to keep site visitors within your marketing loop.
- Social media pages: social media pages are simple and quick to set up for your business. Research into competitors’ social media channels can help you decide which platforms to use for your own business.
- Email marketing: most email marketing tools allow you to set up for free and integrate into your website. By doing this customers are able to sign up and you can begin sending them email marketing.
- SEO: this is something any business should incorporate into their marketing. If it is done correctly, it will bring in buyers and generate sales.
Develop your product story
Your product story is much more than just a description and list of features. Features of a product don’t necessarily resonate with buyers, but solving their problem does. When writing the description of your product you should uncover the benefit behind the feature, this is what will help sell your product.
Make sure to have many social media channels in place for your long term plan. Channels to use for long-term planning include email marketing, your website, and campaigns. Don’t feel as though you must attempt everything at once, you can use these channels to test things like your audience and tactics to see which things work well and which things don’t.