People are in constant need of something to solve an area of their lives. With these needs, new products are born. Yet, some products are short-lived because it does not “sell” well to the audience. Your product could stand a chance in the vast offerings in the market with a four-tier strategy.
Giving Birth to a Concept
Careful analysis is needed before creating a product. Market research tools, such as an online survey panel, are very useful. It would help you, the manufacturer, to see what your target consumers need. Data gathered from such surveys are cornerstones of significant decisions.
The answers of the consumers could give you valuable insights and directions.
Making Your Product Known to the Public
- Stretch your limit. Surprise the market with something they have never encountered before. Do not be afraid to be a trendsetter in your industry. Create a clear vision of how your product will transform the lives of its consumers. Be above your competitors. Products that are mediocre and at par with others would go unnoticed in a sea of other products. Choose to be different.
- Emphasize the solutions offered by your product. Your product does not have to be loaded with specifications to be different. These details are not important to most customers. What they want to know is “How would this product or service help me? What positive changes or emotions would this product bring?” The purchasing decision of most consumers is not based on the details of the product. They are not into being swamped with technical information. Instead, it is about the relevance of the product on their personal lives and the emotions that it invokes.
- Build anticipation. You could create a buzz long before the actual launch of your product. Do teaser videos and promote on social media platforms. Do not give away a great deal of information. Only show snippets of what the product is about. The mystery will have people clamoring to know more. Their excitement will propel them to prove if the product is good.
- Pre-orders could be the Key. When your company is a trusted brand, you have a solid customer base. This group of people trusts the quality that you sell. Thus, they would be willing to place an order even before the actual launch of a new product. If the pricing is set, it is a wise marketing strategy to accept pre-orders. Pre-orders are also a product of creating an effective buzz. Because of good hype, people would be afraid that the product would immediately go out of stock. Thus, they tend to buy ahead of other consumers.
After the Dust Has Settled
The launch event is over. People had purchased or interacted with your product. The next step is to ask for honest feedback about it. Through the customers’ insights, you could improve your product. Listen to what the consumers have to say to increase its marketability.
Making a product part of the market involves careful planning and strategy. It does not have to be grand, and it only needs to be purposeful. The customers are an integral part of every step of the whole process. Learn to value what they have to say.
Their interaction and acceptance of your product matters. It could determine the success or failure of your product.