Developing an Effective Marketing Strategy for Your Product
You have a product and that’s very exciting. Being a product creator or product owner can be one of the most lucrative ways to make money for Internet marketers.
The problem is that, even if your product is the best in the world, it simply won’t sell if you don’t have an effective marketing strategy behind it. If no one knows about it, they simply won’t buy it. And, if you don’t make it enticing to buy it, no one will buy it. Pretty dismal, right?
This can cause a big dilemma for you. Maybe you’re really good at product creation and maybe you’ve put a lot of time and effort into your product. But, maybe you don’t know the first thing about actually marketing it.
Or maybe you do know a little bit about marketing, you just aren’t sure how to put it all together into a plan that will really work.
Make a Plan and Hold Yourself Accountable
And that’s an important point right there. No matter how experienced you are, it’s important to create a plan and stick to it. I recommend you create a calendar for yourself that you fill with your ideas for marketing. Every day, you’ll do a little bit more, or a lot more, toward your effort to market your product. It’s this consistent effort that will pay off.
You have to hold yourself accountable. You can’t just decide that you’re going to create an awesome sales funnel and drive all this traffic… only to never do it. Your product isn’t going to sell just because you get a sales page up there. Your product isn’t going to sell forever just because you get a few affiliates on board in the beginning.
Your product will sell if you develop an effective marketing strategy for it.
Focus On Effective Marketing
Effective marketing is important for so many reasons. For one thing, the right strategies will set your product apart. There are many great products out there that just aren’t marketed well. That’s part of the reason why so many product creators give up. I don’t want you to give up – I want you to be able to cash in on your product.
Start With Market Research
That’s why I recommend you get started with market research. Pay attention to what people need and want in your niche. You should immerse yourself in social media and forums where people of your niche hang out.
Pay attention to everything, down to the ads that these people see and respond to. Pay attention to the marketers who successfully sell products within this niche.
Who are the authorities in this niche? Who does the audience tend to pay attention to the most?
These are questions you need to ask yourself. The answers might surprise you or they might not, depending on how much digging you’ve already done. I highly recommend you take notes on what you find either way. You want to develop a system for yourself that you can follow to effectively market your product.
Research the Competition
This means researching the competition. You have to know what works and what doesn’t work. Take a look at the top sellers within your niche and the bottom sellers within your niche. What’s different? It may or may not be product quality. It’s most likely a difference in marketing.
Get To the Heart of What Your Product Is All About
After you’ve examined your audience and the competition, it’s important to get to the heart of what your product is all about. Take notes on your product. What is its unique selling proposition, or USP?
This is what sets it apart the most – the main benefit of your product. From this, you can create your headline, tagline, and main focus of your marketing.
If you don’t know the main focus for your marketing and if you don’t truly understand what your product is about, then how do you expect your audience to?
Everyone from your audience, to affiliates, to those who may write about your product, to everyone else needs to understand what your USP is. They have to understand the heart and benefit of your product. Figure this out first and foremost before you do anything else.
Your marketing has to become part of your branding. It has to fit in with what your business is about as a whole. I’ve branded myself as the 5 Buck Guy. My products tend to be lower in cost but full of value. I focus not only on how to make money, but on how to actually succeed, boost one’s mindset, and so on.
So, most of the marketing materials and marketing efforts I make for my products zero in on this idea. I tend to develop marketing strategies for my products based on what my brand is all about. I’ve created brands within my brand – for example Earn 1K a Day and The IM Inside Track.
Find Your Features and Benefits
Break down the features and benefits of your product. I really mean it when I say that you have to understand every single part of your product. The features are what your product does. The benefits go deeper than that and they are even more important. What do the people who are buying (or will buy) your product truly want?
The age-old example of this is that people don’t want the shovel – they want the hole.
What is the goal people have when they buy your product? Figure this out because it will help you so much with your marketing.
Create an Effective Sales Funnel
Once you have it all figured out, it’s time to get your sales funnel up and running. This is a huge, important part of your marketing. I highly recommend you get a squeeze page set up so you can start to build a list. List building is key when it comes to effective marketing.
Once you get people on your list, it will be so much easier to make sales of your product. The squeeze page might give something away for free that entices people to join. From there, you can market your product.
You should also get autoresponder copy ready to go so you can build relationships with those who join your list.
Get your sales page ready to go. You can direct people to it through your autoresponder copy.
Drive Traffic to Your Sales Funnel and Marketing Efforts
Once you have your sales funnel set up, it’s time to drive traffic to it.
Get affiliates on board as one of your main methods of driving traffic – word-of-mouth is wonderful and having affiliate power is wonderful. This is the way to make sales even if you’re new in your niche.
You can pay for ads to drive traffic. You might send these ads to your squeeze page or directly to the sales page. Google Adwords and Facebook ads are excellent ways to drive traffic.
You can also use social media to drive traffic. Hopefully, you’ve already started getting to know people in your niche via social media.
Create a Facebook page or group. Tweet about your product on Twitter. Wherever your audience is most active, be there and get the word out about your products. I don’t mean you should spam people – I mean you should form relationships with them so they’ll want to check out your product.
It can be very smart to do what you can to build buzz about your product. Try to create viral ads or viral marketing materials. For example, you can create rebrandable reports for affiliates to pass around the web.
They say it can take an average of seven times for most people who see or hear about your product before they go ahead and buy. So, it makes sense to build buzz and get the word out about your product in as many places as possible.
Get people talking about what your product is and how it’s different from anything else out there. This can be extremely helpful for your marketing and can get people really excited. You might even try to get the buzz and discussion going before you release your product so people commit to the idea of buying your product before it even launches—build the anticipation.
Consider joint venture partners out there who can help you make more sales. There may be people out there with more authority than you or with more reach than you. You have the product, so maybe you can joint venture with someone to market your product.
Brainstorm For Marketing Ideas
Consider other ideas, such as running webinars with affiliates and joint venture partners. This can be more effective than a typical sales page because people are hearing directly from you as if you’re there in person telling them about your product.
Create a Marketing Plan and Stick to It
Sift through these ideas and figure out what will work for the people of your niche and the product you’re trying to market. Then, you need to create a marketing plan. Not only should you create a marketing plan, but you should put specific tasks down on a calendar for yourself and stick to it.
Get affiliates to put promoting your product on their calendar. Don’t be afraid to reach out, connect, and get affiliates to commit.
You have to be strict with yourself. You are a product owner. You have to roll this product launch out consistently and take action just like any Fortune 500 company would.
Believe in yourself, don’t expect the sales to come in without any marketing, and push your product like crazy.
A big part of marketing will be building relationships around your niche. Build relationships with people who might buy your product, affiliates, joint venture partners, thought leaders, and authority figures in your niche. Get to know people and implement your marketing plan and it will be so much more effective and profitable.