A Guide to Market your Product Effectively
Marketing your online store can be a long and slow process. You need to be patient and keep on trying new things until you are satisfied with the results. The process starts from having a clear strategy to choosing the right strategies and ending at evaluating the results. Want more details? You’ve come to the right place. We’ll guide you step by step on what you need to do to not just have a good marketing strategy but the best marketing strategy.
Decide on your Marketing Strategy.
Don’t just go with what you’ve heard people doing in the past. Do your research and choose the best strategy that would perfectly align with what you’re selling. I’ll discuss the three most common strategies.
- SEO
You probably already know what SEO is but to give a brief description, it is concerned with improving the quality and quantity of your website traffic. The key areas you need to focus for SEO are the content and links you provide along with the right keywords. I’ll dig in straight to the pros and cons for you to get a better idea. The pros would include reaching people who are looking for the solutions you’re providing, a higher conversion ratio, and it can help your business with growth. The cons on the other hand include taking a lot of time, no guaranteed results, and it would require a heavy investment for a competitive niche.
- Paid Marketing
This includes sponsored posts on Facebook, Instagram, or paid results in Google Search. These platforms can particularly benefit you since a lot of your users will probably be active on these platforms. This can prove to be expensive, but with the right mindset, you can turn this investment into long-term profits.
- Platform marketing
This type of strategy is concerned with using the main existing ecommerce platforms like Amazon and eBay. These platforms already have a significant reach, and your business can utilize them to your advantage. It doesn’t take much time and is more cost-efficient.
Go with what you think would help your product reach a larger audience and the right target market.
Choose a Brand Name
When you think you’ve finally come up with a good brand name, you usually find out that it’s already taken. The one’s you come up with after are meh? Don’t worry, just keep a few things in mind and you’ll be able to put something amazing together.
The best Brand names have authentic stories behind them. When you think of some of the biggest brands today, you can quickly relate because all of them a have great story behind them. This is a game-changer so if you really want your brand name to be well recognized, make sure to have a good story behind it. Moreover, you also need to look into some basic things like making sure it’s easy to spell, keeping it small and relevant, and ensuring there are no trademark conflicts. So, when you brainstorm and think of a few names, run them through the areas mentioned and if all of them, you’re on the right track with a great a Brand name.
Set Goals for your Marketing Strategy
There is no point in coming up with a strategy when you don’t know what you want to get out of it. Do you want an increase in sales by X%? A fall in churn rate by Y%? Increase traffic by XY%? Having a set of goals in minds will make you move smoothly towards your target and you’ll see the results. You may already know that the SMART strategy is used to set and achieve the best goals. This will help you stay focused and ensure you stick to your initial goals. It needs to be:
- Specific
- Measurable
- Achievable
- Realistic
- Timely
Product Niche
There are so many categories you can choose from but you can’t just abruptly choose something. You need to consider a few things before deciding on your product niche. Yes, having a unique product is a game-changer but you can’t always come up with successful unique products which is why its best you choose a category that isn’t being dominating by your competitors. Other than this, come up with a price that is reasonable. A price too high will make it unaffordable and a price too low will make customers think about the quality of your product. Find the right balance and go ahead with it.
Social Media Marketing
Instagram? Facebook? LinkedIn? Where else? Social media has been booming consistently as a platform for online sales and marketing. I’ll convince you the importance of it with solid facts and figures. Facebook currently has 2.5 billion active users and LinkedIn has around 700 million users. These are huge numbers and they give you the ideal opportunity to market your product and make a presence for your brand. With Facebook you can choose a specific target audience and make sure your product reaches potential customers minimizing wasted costs. One recent trend that has been successful is using influencers on Instagram to increase your reach. Go to Instagram and find people who have a large following, talk to them and make a deal with them. Your reach will skyrocket at a low cost. Put in time and you’ll see the results.
Email Marketing
As dull and old as it sounds, this area is really underutilized by businesses. Companies tend to think that why would anyone read their emails when they can see something visually? I used to believe this too until I saw a significant increase in reach and conversion ratios when I used email marketing for my own company. This was because it allowed me to have a direct link with my customers and gave me tons of data that I utilized to make impactful decisions. It may sound boring, but I’d strongly recommend going with a platform that provides you with the option of email marketing.
Come up with a 50-day Plan
At this stage, you need to think of ways to get your sales up and running. You need to come up with different marketing tactics and try them all out. These tactics may range from reaching customers through the different social media platforms to emailing existing customers or exhibiting in trade shows. At the end of the 50 days, you’ll know which tactic was most successful and which was the least successful.
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