Are you thinking of marketing a new or already existing product, but you don’t know which strategy to employ? If you’re facing this challenge, then you’re reading the perfect article. In this piece, we’ll provide you with proven strategies to market and promote your product successfully. Let’s jump right into it.
Table of Contents
Introductory Offers
This strategy works great for new products. What you need to do is to include the merchandise as part of an introductory offer. You may want to click here for a detailed definition of an introductory offer. Various methods can be used to introduce the offer. Examples include:
- Reduced-rate package or bundle
- Discounted pricing
- Coupon or voucher with purchase
- Joint promotion
- Get one free after each purchase
- Free gifts for each referral, etc.
When you use this plan, ensure that you tell your customers how long the promotion will last. Doing this will ensure that the customers are aware that it is a limited time offer. This, in turn, will create an urgency for them to purchase the item as soon as possible.
Exclusive Preview
If you are launching new merchandise or rebranding one, exclusive previews allow you to make the event grander and more special. The exclusive guest list should be made up of loyal customers. You can invite them to an exclusive, virtual, or in-person pre-launch event, preview, demo, or online tour. You may even invite them to test out the item and then tell you what they think about it.
Exclusive previews are great for engagement with your customers. It also proves to them that you value their support and patronage. Such events will trigger a deeper sense of customer loyalty and commitment in the hearts of those invited. It will also make other customers who aren’t loyal to the brand loyal so that they can be part of the next exclusive event.
Competitions and Giveaways
Organizing a contest is fun and an amazing way of bonding with your customers. You could choose to organize an in-person competition or a social media competition. If you choose the in-person option, you’d have to make a lot of preparations for the event.
As a result, many businesses are choosing the latter option to save them the stress and cost of preparation. Furthermore, social media challenges are becoming the preferred option because of its massive reach. When you run a social media competition on Facebook, you could gain about 35% new followers and customers. This is not bad at all especially if you have a low followership.
The winner of the contest should be the first person to get the new deal. They can be given the item at a discounted price. Better yet, you can give it away for free.
If you are running a social media competition, you can choose to run it across multiple platforms. You can visit web rank agency to discover the pros and cons of using Facebook, Instagram, and TikTok for your social media contest. The other option is to run it on just a single platform. If you run it on multiple, ensure that you pick winners from each of the platforms you used.
To get the best results, we recommend you announce the competition via all your marketing channels. Don’t just limit the announcement to the social platforms you’ll be using. Therefore, announce it on via email newsletters, your website, and paid ads.
Google Business Profile Promotion
Not many businesses are taking advantage of Google Business promotion. Once you’ve set up a Google Business account, you can then make a post to promote your new product. You can make it a “What’s new” post. However, you’ll have to repost every seven days because each post expires after seven days.
If it’s an introductory offer like we talked about earlier, make it an “Offer” post. This will allow you to choose the timeframe. In addition to the text, add a picture (preferably of the product if it’s a physical one) and a CTA (call to action).
Furthermore, you can market the product by adding the pictures to your Google Business Profile. You can check this post to learn how to take a great product photography. You can do this by going to the Photos tab on the dashboard. You can also use the Products/Services tab to add new merchandise.
If necessary, you can even add FAQs for the new item via your account’s Q&A section. This will answer questions that your potential and existing customers might have. Lastly, ensure that you optimize your Google listing. This will ensure that you get maximum visibility.
Email Marketing
About 85% of product consumers open email businesses and 75% of subscribers buy products via an email message. This shows that this channel is still a goldmine that businesses can take advantage of. Therefore, if you have a new product, you can spread the word via email.
Your email campaign can be about the new deal or an email series that builds up to the launch day. Alternatively, you can announce the offering as the main focus of your subsequent newsletter. You could make it a general newsletter or an exclusive one. The option you choose depends on your preference.
Email marketing is still one of the best ways entrepreneurs, businesspersons, and salespersons can market their business according to Dan Kennedy. You can find out more about Dan Kennedy and how he revolutionized the marketing industry through his “No B.S.” book series. In your copy, ensure that you pay more focus on the product’s value rather than the features. This is important because you provide the customer with a chance to connect to the value the product provides.
Conclusion
Marketing your product is an art that requires careful planning and execution. Although there are different plans you can execute to promote your business, not all of them are perfect for you. Yet, knowledge of the various strategies you can employ will help you make the necessary switch when your current strategy is failing. In this article, we’ve discussed in detail, five of these strategies you can try out.