Let us have a quick game.
It is a company that won the grand prize at the 39th Annual Effie Awards. Until the present times, this business and its products continue to be a lead-selling company within the USA and worldwide. According to business organizations, experts, and magazines, it has one of the most successful campaigns as its stocks soared from $9.08 to $16.23 as it launched its ads.
What company do you think can do such a fantastic marketing feat? You guessed right! It is the company that launched the “Get a Mac” ad, Apple. Why did it sell in the first place? According to experts, here are some of many reasons.
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It showcased their products’ features in a classy way.
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It conferred what the market wants.
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It did not put its competitors in a bad light.
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It used humor.
Your business might not (yet) be as big as Apple, but you can understand and use the principles and strategies they have on product selling. Read this article to discover the eight sure ways to sell your product to this present-day competitive market.
#1 Identify and understand your buyer persona.
Most companies, organizations, or individual entrepreneurs understand that knowing their possible buyer’s details is not enough. They know that it is also best to comprehend their buyer’s thoughts.
Understanding your buyer persona will give your essential information to building an effective marketing strategy. Knowing the strategy, you can make will bring better results by directing your potential buyer to sales conversion. But what is a buyer persona anyway?
A buyer persona is a personality-driven narrative that gives your full perspective of who your ideal customer is. What’s best is that it does not stop at that. It also identifies and analyzes your perfect buyer’s motivations, behaviors, and purpose to look for a product or a service.
Buyer personas let you form connections with your target customers on an emotional level. It helps make an experience that gives the customer a feeling that you understand their needs and wants. Because of this feeling, the chances of buying your products or services become high.
#2 Use the story-telling technique to introduce your product.
Once you know your buyer persona, it is time for you to introduce your product. However, do not go into the bandwagon of “just selling” your item. The experience and why it will help solve your buyer’s problem should be the highlight.
If your marketing strategy only contains the information, benefits, and features of your product, it might be why it is not selling well. These factors may fail to engage with your target audience and potential buyers. Telling “facts” about your company and product will only reach the Broca’s and Wernicke’s brain area, translating words to their direct meaning.
What should you do? Tell your story. Why? The story-telling technique contains a character, actions, and emotions, which makes the brain more engaged. Other than the brain’s understanding area, it can also trigger the parts of the brain responsible for one’s emotions. Now, show your potential buyers how your product is made or what you do behind the scenes to make your services useful?
However, take note that you should also be factual in telling your story. If you do a make-believe narrative and people discover the truth, your business might fail.
#3 Try sticking to your brand perception.
Marketing campaigns that move away from their typical brand perception must be done carefully. Over decades, big brands that tried to experiment from their category to another for a marketing stunt failed.
For example, Clairol launched a shampoo product in 1979 called the Touch of Yogurt. It was after their great product, Herbal Essences, sold big time. Unfortunately, the idea was catastrophic. Some customers got confused and tasted the shampoo. The company even tried to mix real yogurt into the product to fix the concern, which caused even worse results. Some of the shampoo bottles got developed molds. Ultimately, Clairol dropped the entire idea.
The bottom line is it is better to stick and enhance the product or service that you offer. If you want to explore other things or strategies, make sure to test and try your products well before the launch.
#4 Take calculated risks.
Doing something new is not always a bad idea. You can try new things, but make sure to take these risks in a calculated method. You should also be prepared for the chances of failing. Think of it this way: While your competitors have it the “safe way,” you are making an edge.
#5 Take good care of your existing buyers.
Did you know that you can still have increased sales through your existing buyers? While finding and targeting new buyers can potentially boost your revenue, make sure to always include your old buyers in your marketing strategy.
Do you remember the “Got milk?” advertisement in the early 1990s? It dominated the market, even with the rise of big-time soft drink companies, Coke and Pepsi. How did the National Dairy Board and California Advisory Board make it through? They targeted the existing milk fans.
Until today, the “Got milk?” ad remained one of the most remarkable marketing campaigns. Moreover, milk revenue rose to 7% in 1994 in California alone.
#6 Build a new brand.
This idea may sound silly, but it can take your profit soar high. How? If you are thinking of launching an innovative product, which can be far different from your old one, it is best to start a new brand.
Building a new brand is applying the principles of items #3 and #4 above. One way or another, the business expansion might need you to launch new products or services. In this case, marketing an entirely different object from your old products may do more harm than good. What is the best solution? Form a new brand.
Building a new brand will not only remove the risk of tarnishing the reputation of your old (but reasonable) brand, but it will also be a calculated risk.
Let us take P&G (Procter & Gamble) as an example. This company has 55 brands and counting as of today. They are now a multi-billion company from brands including:
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Baby care: Pampers, All Good, Luvs
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Hygiene: Safeguard, Olay, Old Spice, Ivory, Secret, Snowberry, etc.
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Laundry products: Ariel, Tide, Downy, Bounce, Cheer, Era, etc.
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Haircare: Head & Shoulders, Rejoice, Pantene, Aussie, My Black is Beautiful, etc.
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Grooming: Gillette, Gillette Venus, Braun, etc.
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And so much more.
Did you notice that they have products that have similar purposes? Did you see how they built brands instead of taking it all on one? You can also try this principle and let your new brands work for you.
#7 Only promise what you can actually provide.
From 2008 to 2009, exercise equipment companies promised consumers that using their products will provide the perfect body they want. These brands include the famous Ab Rocket, Red Exerciser DX, and Rock-N-Go Exerciser. Each of these has a price range of not lower than $100.
In mid-2009, various consumer reports contradicted these claims and revealed that each piece of equipment has the same or lower efficiency than working out using bodyweight alone. After this report, their sales plummeted down.
Therefore, only make a promise to your customers something that you can provide. Today, anyone can check product reviews on the internet. Potential consumers most likely will read if your product delivers your promised results.
Tip: You do not have to make big promises. It is best to tell your customers the sensational value of your product and what it can do.
#8 Move on from failure.
While a business aims to be successful, failure sometimes happens.
Creating a product before the market even exists might be a recipe for business disaster. While you think your product is excellent and unique, check first if you have an actual market to sell to.
Takeaway Thought
Product marketing is a fulfilling yet challenging part of entrepreneurship.
Risk-taking can result in a positive outcome. Trying the eight strategies above might be scary for most companies, especially those in start-ups and small businesses. Questions might come pouring in. What if I fail? What if it will make my business journey more difficult?
Think of it this way. If you do not do anything, your business might not move forward either. Big companies, such as Apple and P&G, still take risks every day. While they are household names already, challenges and even failure will always be parts of their possible outcome.
What can you do to minimize business risks? Consult with a reliable marketing company with actual results. Talk to them about building your buyer persona. Discuss your goals, worries, and challenges. Having expert advice and guidance towards reaching your targets might just be the thing you need to boost your business.
Nevertheless, try the strategies above and always aim for success. Risks will always be there, but taking the leap of faith to grab the opportunity might be the one you need to jumpstart your way to success.
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