According to Jaiden Vu, the CEO of Vantura Cosmetics, “It’s not the best product that wins but the best-known one that wins.” Marketing products is the key to brand recognition. Every business owner knows that nailing the marketing plan for a product can set your brand apart from the rest. But the real challenge is just getting started!
What makes you choose Coca-Cola over Dr. Pepper? The price, taste, or the name itself? Even though they both are soda, it is the brand recognition of the former that draws its customers. Packaging design, advertisements, reviews, and market availability all shape the marketing of any product. It’s not just about advertising and brand awareness; it’s about finding new customers and keeping them engaged with your product!
So how do you achieve this level of trust with an audience? In this blog, we will take you through the Simplified process to market your products and grow your business!
Doing Your Homework: Research
(Source: The New York Times) Find out what your competitors are offering, and make sales plans accordingly.
The secret weapon to any successful product marketing strategy is laying the groundwork and establishing goals. For any new company that pops up in the market, there are thousands of rivals already booming with business. The only way to challenge them is by building your unique brand voice, rather than just adding to the noise.
- Social media: Follow companies that are marketing products to a similar audience.
- Market surveys: Understand market trends, likes, and consumer expectations.
- Customer reviews: Include testimonials, feedback, and suggestions in your product development process.
Funding Your Vision: Budget
(Source: The New York Times) Use buyer trends and analytics to budget your product marketing strategy.
“43% of survey respondents say they wish more affordable products were available.” – Nielsen
Business owners know how much marketing products is important, but sometimes it feels like you don’t have enough money to do anything substantial. But that doesn’t mean you can’t get creative! You might be surprised by how many ways there are to promote your product without spending a dime. The key is knowing where to look for.
There are many factors to consider, from the price to the quality of the product itself. But what is often overlooked is how the packaging of a product can affect its success. So make sure you invest generously in the packaging and branding of your product as well!
Being At The Right Place: Distribution
(Source: Oaky Web) Does your audience love to shop online? Connect with them over your product website and offer loyalty discounts!
Now that you have a great product, how do you make sure it succeeds? The first step is to create a product marketing strategy. This will allow you to define your ideal customer and target the market before development begins. Once your outline is complete, ask yourself: where does my target audience spend most of their time? The answer to this question will help you discover your perfect distributors like which online retailers and supply chains to team up with.
Accordingly, you will find a community of people who have a higher chance of turning into loyal customers. So invest wisely, and let your marketing product work its magic on the shelves!
Simplified Tip: Want to create professional-looking marketing assets, but on a budget? With Simplified’s customizable templates and tons of design tools to choose from, you can get heads turning. Get started today!