10 Ways to Successfully Promote Your Product
Updated 11 Jan 2022
So, you’ve created an app or online store, you have the perfect product, and now, you need to tell people about it. Or, you have dozens of good ideas, but you can’t decide what exactly you want to achieve. This is where effective marketing can help.
Attractive product ads help you target specific audiences and leverage strategic campaigns to drive demand and sales.
There are several effective marketing techniques:
1. Set a goal
If you know exactly what you want to promote, you can skip this paragraph, but we would recommend reading it just in case.
First, you must decide what to promote. Set a goal for yourself to identify not only a useful product, but a product necessary for the market. Ask yourself this question:
What does the market need now?
It is common for companies to create a product that they do not know how to sell because it is simply not in demand in the market.
Once your goal is set and the product is found, you can move on.
2. Position your product
To showcase your product effectively, you should accurately situate it in the market. This requires knowing your product inside out.
Here are some questions to help you get started:
What is this product for?
What makes this product unique?
What makes this product better than similar products on the market?
What problem does this product solve?
Why should people trust this particular product?
Hint: don’t forget to utilize the additional selling points that you can offer or that your product has. For example, fast shipping, guarantees, and memberships.
3. Recognize your audience
To promote a product well, you need to understand the audience you are targeting. Divide the audience according to their interest in the issues related to the promoted product and their behavior. This will allow you to gain a better understanding of how your product meets their needs and how best to target them. To sell your product effectively, it is required that the customer be much narrower than your target audience.
4. Study your competitors
There is continuous competition between brands in each market to show who can best research, attract, convert and retain customers. Therefore, it is good to know what your competitors are doing so you can do it better.
Study your competitors to see how similar or different your products are, who they sell to, how they sell, and how successful they are.
Note: their target audience can also reveal gaps in your own.
5. Determine the correct cost
The price of your product gives it a status, a specific audience, and competitors. Consider your product, audience, and competitor research when determining the ideal price for your product, as well as product value and profit margins.
The main factor behind the cost of your product should be what is necessary to support your business. Assuming products are set at a high price and potential customers are not buying them, you will lose a valuable piece of the entire industry. Assuming you have set a low price, you will be selling at a loss or with an impractical total return. This will force you to try to grow and scale to achieve profit, or change the price of your product first.
6. Create a marketing strategy for your product
As with all marketing campaigns, you will need to plan your strategy and identify:
Where to start?
What does it need to include?
What happens if it goes wrong?
The marketing strategy for your product will utilize all the information you have, and entails creating ads and content, building marketing campaigns, and using unique marketing tactics.
7. Use online or digital marketing
Utilize tools that involve the connection of ad network technologies: SEO, SMM, SEA, etc. The list is endless, but the meaning does not change – tell potential customers about your product on all available sites.
8. Decide on a KPI
Choose the performance indicators that measure the achievement of your specific goals. Importantly, choose indicators with the intention of adjusting your advertising campaigns in the process. At this stage, you need to understand what to watch out for and what should never be forgotten.
9. Build your reputation
When it comes to solving problems or eliminating negativity, not every company will respond appropriately. Divide criticism into constructiveness and “noise”. Track all reviews of the company. A high ranking is appreciated, not only by users, but by search engines. For example, Google ranks businesses based on their local search scores and Google Maps.
10. Don’t forget about analytics
In some cases, this is the only possible option to get information about products sold. However, here, we are faced with two problems at once. Firstly, the data may be provided incorrectly, since not all sites provide protection against bots. Secondly, data from different sources may not match because one source is updated later.
Conclusion
By promoting your product, or trying to determine which product you want to promote, there are some basic steps you need to follow. They will not only help your business generate profits, but also build a strong reputation. For example, your marketing strategy may be based not only on the current aspects of your business, but the image and values of your brand, which itself will affect the promotion of the product if it was drafted correctly.
Follow these simple steps and questions, or better, bookmark them so you don’t get lost, and re-read from time to time to make sure you’re heading in the right direction.
