Table of Contents
As great as a product might be in the eyes of the inventor, its value is only determined by its popularity in the market. As a result, it’s the responsibility of the marketer to sell the value of a given product and convince potential customers to buy it.
Have you ever wondered about product marketing? The guidelines on how to market a product are challenging.
Product promotion is a fine art and you must make sure you market a product well in order to increase the likelihood of sales.
The marketplace is fiercely competitive and you want to make sure your company’s products stand out.
Particularly when marketing a new product, a company has to take the right steps on how to promote a product.
This detailed guide will show you the best tips on how to market a product.
1. Write a Press Release
The first thing to do when launching a new product is to create the best press release possible. A press release is an announcement of the launch of your product. These are a great method for not only introducing a product but also promoting your brand.
As you are working on announcing the launch of your product, you have to think about describing the uniqueness of the product. This is intended to convince a customer to purchase the product.
2. Create a Need
You need to convince a potential customer that they need the product, as opposed to wanting the product.
For example, think about the products you enjoy and how they are marketed to you as a need. The average man probably doesn’t need an expensive cologne. But a commercial that promotes this cologne will likely show this man being able to attract women because he wears this cologne.
A poster that promotes this cologne might show this man being embraced by a beautiful woman. An image of the cologne bottle and/or the name of the cologne will be prominently displayed on the poster.
By suggesting that a man can attract women by wearing this cologne, the brand is creating the notion that a man looking at the advertisement needs the cologne.
3. Writing Great Copy
You want to consider creating a landing page or blog posts that promote your product. These are a great way to detail the product and what it can offer a customer.
One should master copywriting and learn how to write great product descriptions. Marketers can look at landing pages of their favorite products to see how these are written to sell to a customer.
A marketer can also subscribe to a product recommendation website to see how products are described to highlight their best features.
4. Contrast, Don’t Compare
It’s likely that your product will have similar products in the marketplace that consumers will compare. A discerning consumer will look at similar products to determine which is the superior product.
For your product, you want to contrast what makes your product different and better from the competing products.
For example, there was the famous ‘Get A Mac‘ campaign by Apple. This communicated to PC users that they should switch to using Mac computers.
They sold Mac’s as being the ‘cooler’ option for the ‘cooler’ customer. In the US versions of the campaign, a PC was represented by the uptight John Hodgman and the Mac was represented by the laid-back Justin Long.
In the UK versions of the campaign, the comedian David Mitchell, known to have a persona of being serious and uptight, represented a PC and PC users. While the cool and laid-back Robert Webb represented the Mac and Mac users.
You want to think about how your product is different from similar products. You want to convey to the audience that they are a unique type of individual (i.e. the Mac user) who deserves a unique spin of an existing product (ie. a Mac instead of a PC).
5. Sell a Dream
This goes back to tip #2. Nowadays, we have more freedom and opportunities than any other group of people. Our dreams are bigger and more imaginative than before. You want to see if you can sell a dream with your product.
For example, with his book The Four Hour Work Week, author Tim Ferris sold the dream that anyone could travel the world while working remotely for a minimal number of hours. He sold the dream that we didn’t have to work ourselves to death to fulfill our dream of exploring the world.
You want to think about how your product can help your customers achieve a dream of theirs. If you are selling a bag, you might want to sell the dream that your customers can use this bag to pack enough clothing/supplies to travel the world.
If you sell a camera, you want to sell the dream that the quality and features of the camera will help the customer make an award-winning feature film!
6. The Price Is Right
This is one of the biggest challenges that a product marketer faces. How do you make a potential customer feel that the price of your product is worth it?
Most likely, the marketer will not have a say in the price of the product. At times, the price might be higher than what the average customer is used to. You need to convince the customer that no matter how much the product costs, it’s worth every penny.
If a camera costs $4,000 you want to highlight that it has 4K cinema quality. Or if the bag costs $600, you want to highlight that it’s made of genuine leather and has several compartments so you can pack as much as you want for a long trip abroad.
If you are selling a Mac laptop, which is significantly costlier than a PC laptop, you can stress that it’s less prone to viruses, works better for creative endeavors such as music production and video editing, and has overall better stability than leading PC laptops.
That’s How to Market a Product
Now that you know how to market a product, you are ready to launch your product and start promoting it to the public. Make sure to share this guide with your fellow entrepreneurs.
Read more on marketing, business, and entrepreneurship on our website!