For any business, having an excellent product or service is the first step on the long road to success. But, in today’s highly competitive marketplace, it is not enough to just rely on the quality of your offer. On the contrary, you must actively promote your product or service to potential customers. Otherwise, you might be unable to get a competitive advantage and a comfortable foothold in the industry.
Fortunately, you can fall back on numerous tactics to create more buzz about your newest invention. Besides traditional methods like banner ads and TV commercials, you could create a featured video, work with influencers, delve into the world of email marketing, or leverage a loyalty program to your advantage.
Here is a list of marketing methods you can use to find the right audience for your business:
Use Banner Ads
You probably have seen a banner ad on your favorite website or social media platform. Banner ads are one of the most basic techniques to promote your business, but they can also be quite effective.
The main benefit of banner ads is that they are easy to install and inexpensive to maintain. All you need is a solid web presence and a product worth promoting. Another advantage of banner ads is targeting specific users based on their interests, location, and other factors.
With banner ad monitoring, you can even check how well your campaigns are performing and switch things up if necessary. It gives you a ton of flexibility in regard to how you run your product promotion.
A downside of banner ads is their low click-through rates, and their conversions are even lower. In fact, for every 1,000 impressions, you will most likely get around three clicks and a 0.5% conversion rate. In other words, banner ads are mostly used for brand awareness and lead generation.
Create a Featured Video
The rise of YouTube and other video streaming platforms have opened up a whole new world for businesses. Nowadays, creating an engaging video allows you to show off your product or service in all its glory and tell a story that will resonate with viewers. Moreover, it is an excellent way to show off your company’s personality. As a bonus, people are likelier to remember information conveyed through a video than through text alone.
However, producing a successful video is not easy. You must consider the length, content, purpose, and target audience. The first thing you should do is to define your goal. Once you know your goal, you can start with the planning stage.
Gather all the information about your product or service that you think is relevant. For example, include key features, benefits, targeted customer groups, etc. Then, take some time to plan the video. Make sure you have something unique to offer and that potential customers will be interested in what you have to say about your product.
Once you have a solid script, start working on the video itself. The main advice here is to keep things simple. A short and concise video with a clear message is more likely to capture people’s attention than a long-winded one with too much information.
Work With Influencers
Influencers can greatly influence your potential customers. They have large, engaged audiences and a strong relationship with their fans. Most social media influencers have built an audience by blogging, creating YouTube videos, posting on Instagram, or sharing on Twitter.
If you have developed a product that would be useful for their audience, you can consider working with influencers to get the word out about your business. This way, you can get your product or service in front of many pairs of eyes. But, choosing an influencer who is a good fit for your brand is important. Otherwise, you might end up doing more harm than good.
For example, if you sell in-home services like dog walking or house cleaning, you could work with a pet blogger to create a video review of your product or service.
To find and work with influencers, check where your potential customers will be talking. You can look up the most popular hashtags on Instagram and Twitter, check whether your audience is active on Facebook groups, or look for bloggers in your niche.
Use Email Marketing
Given the widespread use of email and its fast adoption, email marketing is one of the most effective ways to promote your product or service. It is a powerful way to reach out to potential customers. It allows you to build your brand and create a loyal customer base. You can use it to send out newsletters, announcements, or even special offers.
An effective strategy for email marketing is to send your customers small, regular reminders about your product or service.
Here are some tips on how to use email marketing effectively:
- Make sure that your emails are relevant and interesting.
- Share interesting stories, useful information, and news about your business. In other words, make sure that each email has something of interest to your readers.
- Consider including coupons, special offers, and discount codes in your newsletters. Make sure these are only valid for a short period of time.
- Educate your subscribers. For example, you can publish blog posts that provide useful tips or create an infographic with the most relevant information about your industry. You could also share interesting videos or a special offer that is exclusive to your mailing list members.
- Make sure your emails are personalized and relevant to your readers.
- Use a visually appealing design and clear text. Otherwise, you risk losing subscribers.
- Stay on top of technological developments and trends related to email marketing. For example, use HTML5 and CSS3 to make your emails more appealing. Make sure all images are high-quality and responsive for all devices. Use videos and GIFs to enhance the experience of your subscribers. Don’t forget to test, A/B test, and measure all your emails.
Leverage a Loyalty Program
A loyalty program is an outstanding way to engage your audience and encourage them to return, buy more of your products, and tell their friends about your business. Even if you do not have a physical shop where people can come and go freely, you can still set up a virtual loyalty program that works the same way.
For example, Amazon Prime is a popular loyalty program that rewards members with free two-day shipping and access to streaming video and music. In addition, Amazon Prime service subscribers get unlimited access to an online library of over 100,000 books for no additional cost.
Other eCommerce companies offer their own loyalty programs too. And you can join their ranks!
A loyalty program is an excellent way to reward your best customers and encourage them to return for more. It can also be used to promote your product or service to a wider audience. For instance, you could offer a discount on a future purchase or a freebie for referring a friend.
As you can see, numerous ways to promote your product or service exist. You can choose from banner ads, email marketing, loyalty programs, and many more!
There is no question that each of the aforementioned strategies is worth trying. However, what works for one business might not necessarily work for another. It all comes down to understanding your target audience and tailoring your message to resonate with them.
The key is to find the marketing method that best suits your business and aligns with your goals. Do not be afraid to experiment with these strategies. If you find something that works, stick to it and reap the benefits. Good luck!