The world is in no short supply of products available to consumers. This puts a fair amount of pressure on marketing professionals, who must devise effective ways for a product to stand out from the ever-growing crowd. If you’re interested in learning ways to improve your product marketing skills and rate of success, consider the following tips and tricks:
One of the most reliable ways to optimize the marketing for a product is to work with the manufacturer on finding a cost-effective add-on item to attach to the product sale. As an example, companies can attach a discount voucher with every purchase. Marketing personnel can then turn around and make this a central part of the marketing campaign.
Another time-tested way for marketing professionals to drive up demand for a product is to coordinate with the manufacturer to plan an artificial scarcity event. The basic way to go about this would be for the company to drag its feet on the resupplying of a successful first shipment. Marketing personnel would then turn around and generate content about the difficulty consumers are experiencing trying to get their hands on the product. The second shipment arrives just as the content has run its course, and everyone (in theory) wins.
A cousin of scarcity is exclusivity – executing a product launch where only a handful of people have access. This sort of limited release is great for generating buzz about a particular product while also giving the manufacturer a last-minute trial run in case there are any lingering problems with performance. Just make sure to have a contingency plan in place in case there has to be a recall of products already being shipped for sale.
An exclusivity approach may include the recruitment of influencers, who are likely to expand on the power of the limited release. This is due to their ability to mention the product via social media or video, which notifies a mass audience about the product and its limited availability. The product now takes on the allure of being something only the big shots get to have.
Just like with any great marketing campaign, product promotion should come down to telling a great story. What’s the problem? How does the product or service help solve the problem? Who benefits from this solution? Where can the solution be found, and what does it take to get it? These can all be parts of a story which appeals to consumers on a personal level, and therefore increases the likelihood of a purchase.
Thanks to an ever-expanding industry, increasingly sophisticated markets, and the rise of the internet, consumers have never had access to such a wide array of products. This is a daunting reality for many product marketers, who must find ways to grab attention when there is so much out there keeping people distracted. Fortunately, there are a handful of tried and true methods for maximizing the effect of your product marketing efforts. While not 100% foolproof, they are wise options for marketers to consider.