Together with poor management and lack of planning, not knowing how to market and sell a product can make your business flop.
Marketing is an integral part of the success puzzle. Therefore, you need to learn how to bring a product to the market to grow your business.
If you don't know how to do that, don't worry. We're going to list surefire ways to market a product online to help you reach more customers.
Read on to find out why you need to market your products, plus marketing tips to help your marketing efforts.
Here’s what we’ll cover:
Product Marketing and How It Boosts Your Online Presence
Product Marketing is promoting a product to customers intending to have them buy it. Unlike conventional marketing that focuses on a brand, product marketing promotes individual products.
In this case, it makes more sense when someone searching for a laptop, for instance, finds the laptop first instead of finding your store.
Product marketing involves targeting specific products to boost awareness, drive demand, and increase conversions.
Benefits of Marketing Your Product
Product marketing is a great way to generate leads. Besides that, there are other ways marketing products benefit your online business.
It offers an opportunity to help new customers build trust and confidence in your products.
It informs your customers of the products or services you’re offering.
It provides your target market with insight into your new products (beyond their pricing).
It helps your product to remain relevant not only to your target demographic but in the market.
It gives you a competitive advantage.
It improves sales and results in more revenue.
It increases your product’s market share, meaning your merchandise stands out above similar products.
How To Market a Product
- 1. Know Your Product’s Target Audience
- 2. Spread the Word on Social Media
- 3. Engage With Influencers
- 4. Start an Affiliate Program
- 5. Offer Free Product Samples and Contests
- 6. Have an Email List
- 7. Include Customer Loyalty Programs
- 8. Post Products Reviews From Happy Customers
- 9. Provide Free Webinars for Products
Taking these methods into account is crucial when learning how to market a product. After all, it can determine whether your business succeeds or fails.
Here are some tried and true marketing strategies on how to effectively market a product.
1. Know Your Product’s Target Audience
Asking yourself who your target customer is should be the first thing you do when creating a product marketing plan for your business.
That way, you'll know who your ideal customer is, as well as the challenges and needs they have to ensure your product resonates with their expectations.
Having a clear idea of your customer base also helps tailor your messaging, have a clear vision during the product development phase, and brainstorm marketing ideas.
The critical point here is, your product must solve a problem — it should meet a need.
2. Spread the Word on Social Media
Social media is a great marketing channel.
Through social media marketing, you can advertise your product to your followers and reach a new audience.
For that reason, you should create business pages on various social media platforms.
That way, you get to present your products across different social media channels and answer questions or solve customer problems.
Remember, to have a successful social media marketing campaign, your content must stand out enough to attract new and potential customers alike.
Create captivating headlines and follow through with relevant content. Whenever possible, use eye-catching, high-quality graphics to capture the attention of your web visitors and gain their interest.
3. Engage With Influencers
In a market largely driven by social media, influencer marketing can be heaven-sent for brand awareness.
You can choose to include brand influencers in your advertising campaigns to demonstrate the product on social platforms.
Involve others to provide you in-depth written reviews for your products or services. Influential people can reach and influence audiences to use your products, especially during a new product launch.
4. Start an Affiliate Program
An affiliate marketing program is a great way to use other people for marketing your products. You can hire an online merchant or blogger to advertise your products.
In this type of marketing, influencers will cover your products and advertise them to their fans for a commission.
For instance, Ebay’s Partner Network is a program that pays marketers for driving traffic and leading people to buy from their ecommerce store. Referrals may also be a great strategy to have others do the marketing for you.
5. Offer Free Product Samples and Contests
Product giveaways and contests are excellent ways for retailers to market their products and services. It is an opportunity to reach new customers who get a chance to test your products without spending or committing.
When you get the products in their hands, they’re more likely to buy when they finish the sample, especially if they liked it. They might talk about it in their social circles and social media, which is great word-of-mouth marketing.
6. Have an Email List
Email marketing is a low-cost way to market your brand, especially if you’re starting a small business. You can do this by collecting email addresses from your web visitors and sending promotional emails.
Your audience should find the content relevant and valuable. Otherwise, your email might end up in the trash. That is a waste of effort and time on your side.
Share the latest news and trends in your industry to keep them engaged and up to date. Include visuals as a way to capture their interest further.
7. Include Customer Loyalty Programs
Ecommerce loyalty programs focus on rewarding customers who are loyal to your business. These programs are often a combination of exclusive discounts, coupons, and free products.
Although the primary purpose of these programs is customer retention, loyalty programs will also attract new customers.
Implementing a customer loyalty program will systematically push your customer up the sales funnel.
8. Post Products Reviews From Happy Customers
Any user-generated content or general customer posts on your website are super useful and can influence customers' decisions. That includes comments, product images, videos, and reviews.
If any of your products are widespread and customers are happy about it, take that as an opportunity to market the product.
You don’t have to teach customers how to market a product. All you have to do is ask them to leave reviews and testimonials on products they have used and would recommend to others.
Encourage them to leave reviews through reminders, pop-ups, or via email after they receive the product.
9. Provide Free Webinars for Products
Hosting virtual events to demonstrate how your products work instills confidence in those who want to try out or have a deep interest in your products. Through social media, you can hold live events for a large audience.
Facebook Live is one of the platforms you can use to impress dedicated fans on your page. You might need to invest in high-quality video and audio for successful live streaming sessions.
Remember to inform your followers about your social media events in advance so they can prepare.
Final Thoughts: How To Market a Product To Boost Ecommerce Sales
Through these practical marketing tips, you can start learning how to market a product.
Although it might appear challenging for the first time, marketing is one of the growth hacking strategies you can use to reach prospective customers and make more money.
So, go ahead and implement those marketing tactics you feel can work for your online business or startup. Just make sure you have a reliable online store to reap the benefits.
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