Promoting A Product: Do & Don’ts when it comes To Product Marketing
Product marketing is a rather confusing field and succeeding in the first time itself seems to be a remote chance. All the activities that you undertake look fruitful in the first go but when implemented there is no major return seen. Often that leads to many products not be able to even reach the consumer mind space and losing their interest sooner than expected. Here are some do’s and don’ts to follow when you plan on marketing your product to minimize the chances of failure.
Don’t copy the competitors
It is quite possible that your competitor would have tried a new strategy towards marketing and that worked for him. That does not mean the same principle would apply to your product as well. Imitation in any manner cannot be a winner for you and the sooner you realize that the better it is. For example, if social media was where your competitor got success then you can try doing so with Digital PR. Prchitects.com gives your brand an online media coverage which is noticed by the customers as well. The unique strategies adopted by them would ensure that you figure in the customer’s thought process and that translates in the form of sales too.
Don’t ignore basic details
When we talk about a good marketing plan it should include all aspects like details of the customer by customer, sales, and territory wise projections in Product marketing. Do not assume one large territory as your guideline and just ape the statistics that you receive from it. Break your sales projections, region wise and form the basis of your next plan the figures and trends you receive after doing so.
To find your formula to achieve success
Instead of following common practices for product marketing try and find out your own formula to achieve success. For example, if by running a contest on Facebook you were able to grab some eyeballs, build upon the concept and get more people joining you this time. If possible you can intensify your efforts by making it more intricate and difficult to solve. You could also offer better prizes this time and promote it to increase awareness.
Don’t restrict yourself to last year’s budget
Just do not copy the last year’s budget and ape what you practiced then. This is because in a year’s time a lot of things have changed. You must now first see how the budget was allocated and which were the places where your money was not aptly used? It is wise to have a fair understanding of the non-performing elements and eliminating them to incorporate newer and better ideas for your product.
Do keep the budget under check
However, this does not mean that you overspend and regret that later. You just have to be practical in your approach and see what kinds of marketing ideas have worked for you in the past as they would most likely be effective this season too. Instead of wasting your money on ten different activities keep the budget saved for those strategies which would surely provide you results.
Product marketing is your stepping stone to make your brand a known face. However, if not done correctly it also leads to your product come down in terms of sales and future prospects. If nothing serves well you can always turn to a digital PR agency like Prchitects.com for help. They know just the right tricks to use when it comes to bringing your product in the limelight. Often the product needs only a personal touch to project it into a successful mode and by using their service you can it the platform of that calibre.
Originally published at Entrepreneur News and Startup Guide.