New products often fail, even with comprehensive pre-development testing and research. Perhaps the best-known failure of all time was that of New Coke.
Despite expensive, intensive pre-launch testing, the cola giant’s new drink was a marketing disaster of epic proportions. This is largely attributed to a poor understanding of their customer’s motivations for buying Coke in the first place.
When it comes to customer appeal, market research is not enough. Here are some tried-and-tested ways to win at product marketing.
Marketing vs Product Marketing?
Product marketing involves bringing a product to market and trying to ensure that it achieves as much success as possible. Product marketers focus on understanding what makes customers buy.
Marketing centres on attracting customers and maintaining brand recognition and loyalty. Product marketing focuses on driving demand and increasing sales.
While there aren’t any fixed principles attached to product marketing, there are a few sure-fire ways to boost your product sales. These are the best ones:
It’s always difficult to create hype for a product that is new to the market. A pre-launch giveaway or competition helps to create hype and a sense of anticipation around new products.
Try to choose something that’s going to earn the most exposure for your product.
One of the best ways to do this is by giving away free samples of your product to people and rewarding them for sharing news about it on social media. Running a competition on social media to win free samples also works well.
Take Your SEO up a Notch
Likewise, if you want to promote your existing products, the best place to do this is online.
On-point SEO helps prospective customers find your products and services. Your website is where it all starts.
Make sure your website is fully compliant with the latest SEO tactics. Keep the content on your site fresh, with regular updates and blogs.
Use keywords based on what your customers are looking for and update your meta descriptions so that they’re concise, readable and appealing.
Keep your products front and center of your SEO efforts – make sure your website copy sticks to the point, highlighting your products without extra informational clutter.
An attractive, fast website with clear, relevant images goes a long way towards driving customers to buy online or visit your brick and mortar store.
Always remember that product marketing guides customers along the conversion funnel. If a customer wasn’t ready to buy your product six months ago, it doesn’t mean they aren’t ready to do so now.
Keeping in touch with your customers with social media updates and email marketing means you remain top-of-mind. Never abandon customers because you didn’t make a sale the first time around.
Reach out regularly to new and existing customers about your products and promotions. They could have moved further along the funnel by now. Email marketing is especially good at creating anticipation around new products.
Push Your Products into Your Customers’ Space
When you have enough data about your customers’ preferences, you can personalise emails to a high degree and present them with offers they cannot refuse.
You can suggest products that work well with each other, highlight product features, and make suggestions about how certain products might be useful to them.
Set Up Recommendation Rewards
Word of mouth is the oldest type of advertising, and it’s still one of the best. People trust information that comes from friends and acquaintances.
Creating an incentive system for recommendations works well to get your customers talking to their peers about your products. Give them something free every time they refer a friend.
Influencers are the town criers of the new age. These internet personalities have a lot of sway with their online followers and a good word from one of them can help skyrocket your sales.
You can’t pay influencers to recommend your product but you can persuade them to do so. Influencers are always looking for things to blog, tweet, and brag about on social media.
Invite them to launch parties or send them free samples. This could prompt them to recommend your product to their vast following.
Create Great Content
When you publish interesting, entertaining, or exciting content about your products, it helps your SEO efforts and increases your credibility.
Creating high-quality content for your blog also encourages readers to share this. When they do this they prompt other internet users to visit your blog and find out more about your products.
Where to Start with Product Marketing
Knowing your customers is the best way to move your products off the shelves, don’t leave this aspect of your business to amateurs.
It pays to get expert help with the following aspects of your product marketing strategies:
- Decisions about pricing, product features, and your audience
- Setting up product launch plans and budgets
- Creating collateral and spec sheets for sales staff
- Collecting data about sales, customers, and market share
- Writing appealing web copy and social media messages
- Designing brochures and sales flyers
Never hand product marketing off to an inexperienced intern or an overworked product developer.
Get Set for Successful Product Marketing
It’s never too late to start with product marketing. You won’t get a new product in front of your customers without giving it a little push and existing products can only benefit from a new approach.
Do you want to succeed in promoting your products and boosting your sales? Book a strategy session with us today and let’s talk about some ideas for marketing your new and existing products.