The process of introducing and selling your items to clients is known as product marketing. It entails evaluating who your product is best suited for, identifying the best channels for getting it to them, developing an engaging message, and continuing to use insights and smart planning to move your product ahead.
Here are six stages to getting your product marketing strategy up and running and driving your bottom line.
1. Identify Your Market
Product marketing’s overarching goal is to get your product in front of people who are likely to become consumers. To accomplish so, you must first clearly define who those folks are—those who are most likely to desire to buy your goods.
Knowing who your target consumer is can help you create an appealing product story and choose which tools and channels to utilize to reach them.
Your target market is typically defined by geography, gender, age range, socioeconomic status, and/or general interests and preferences.
Defining your target market and efficiently reaching them is a two-step process that requires knowledge of both your products and your clients.
2. Investigate Your Competitors for Ideas
When most items join the market, they encounter competition, but this is not always a bad thing. In reality, it can be advantageous in three ways:
- Having competition shows you there is a market for the product you hope to sell.
- Studying existing competitors helps you see which sales channels and marketing tactics work and which don’t and uncover what consumers expect from your product.
- Understanding your competitors’ strategies can help you find a unique angle for your product marketing strategy.
To get a sense of what your competitors are up to, conduct an online search using the terms that define your product. Examining the search engine results pages (SERPs) can provide you with a plethora of information that you can use to examine the present market as well as the competition for your product.
3. Construct a Product Story
After you’ve identified your product and target market, as well as investigated your rivals, you’ll need to create a compelling product story or image that depicts how your product will perform for your customers.
The most important thing to remember when conveying your product narrative is that features alone will not sell your product. Your tale should show your buyer how your product will fit into their lives, be useful to them, or solve their problems.
For example, as previously indicated, my boutique did the majority of its marketing through social media (Instagram in our case) and text messaging. Our product story was fresh and charming, with women wearing our garments going to farmers markets, brunch, and playing with their children in the park. Our tale demonstrated to potential buyers where they, too, could wear our merchandise and how effortlessly it might fit into their daily.
When creating website and marketing material, incorporate problem-solving benefits. When thinking about your product story, always ask yourself, “so what?” So what if this dress is adorable? What does that mean for my customers, and how can I demonstrate it in my product story?
4. Determine Your Promotional Channels and Tools
You must now get your product story in front of prospective clients. Your product’s reach and audience will be determined by where you market it.
In today’s world, you must meet the consumer where they are. When selecting which channels are best for you, consider how your target market engages and where they buy. Then, you’ll want to meet them there, putting your products in front of the right people so they can engage and buy.
5. Make long-term plans and goals.
Long-term goals and plans are required to ensure that you stay on top of your product marketing and continue to advertise your items and drive sales. Consider marketing a product as a marathon interspersed with sprints.
You have a long-term player in the form of your website, email marketing, social pages, marketplace listings, and physical store. You may use these to sell things on a daily basis, establish an audience, and draw buyers over time.
Then there are the short-term sprint techniques like trade exhibitions, web marketing, and influencer relationships. These will assist you in expanding your reach with short-term investments and increasing engagement for a brief time.
So, when considering how to advertise a product, begin by being choosy in your outlets. Don’t feel obligated to try everything at once. Plan to start with a few long-term channels, then test out audience-specific and short-term techniques to evaluate which ones work best.
Begin by establishing your three primary product marketing channels. These are some examples:
- Your website: Include SEO-friendly product listings and content that tells your product’s story. You can include blog posts, product instructions, and even how-to or product demonstration videos to help tell—and sell—your product’s story.
- Email marketing: Start collecting emails from website visitors from day one and send marketing emails regularly.
- Social channels: Set up business pages on Facebook, Instagram, Pinterest, and Twitter and start posting engaging content and following relevant users from day one.
Set up business pages on Facebook, Instagram, Pinterest, and Twitter and begin publishing compelling content and following relevant folks right away.
Once you’ve established your main channels, you can broaden your reach by utilizing a range of long-term, audience-specific channels and marketing methods, such as:
- Seller marketplace listings like Amazon and eBay
- Vendor wholesale marketplace listings like Faire, Shopify’s Handshake, Etsy Wholesale, and US Made Wholesale
- Product listings on social media sites for social selling
- Connecting with social influencers via affiliate marketing
You can also use sprint marketing strategies to increase site traffic or brand exposure, such as:
- Paid online advertising through Google Ads
- Exhibiting at trade shows and buyers’ markets
The conclusion here is that there are various marketing channels to choose from, and no one route is a one-way street to rapid sales. Planning how to sell a product begins with long-term traffic-building methods such as a website and social media platforms. You can then branch out into audience-specific channels. All of this lays the groundwork for long-term growth while also allowing you to make the most of short-term marketing boosts like as market attendance and ad campaigns
6. Examine Your Successes and Weaknesses
Even if your product marketing plan is up and going, you are not finished. You will want to track your sales and transactions, either manually or through an integrated POS system, to determine the success of your product marketing activities. This can assist you in identifying areas where you were successful so that you can replicate similar behaviors in the future, as well as areas where you did not perform as well so that you can improve.
When evaluating your product promotion, the most important indicator to pay attention to is sales. Assume you decide to purchase some Instagram ad space for your shop’s new car part. You pay $75 for the space and discover that it generates $300 in sales. This demonstrates that Instagram advertisements are an effective method for marketing your products and increasing sales.
Product marketing encompasses all aspects of getting your product in front of the proper people and correctly marketing that product to boost its sale. Choosing the correct marketing channels, developing a product story, and developing long-term strategies will assist you in developing a product marketing strategy that will help your firm flourish. This tutorial will walk you through the processes necessary to get your product marketing plan up and running.