When you’re working on creating the product you want to sell, knowing how you’ll sell is just as important as deciding what you’re going to sell. Last week we talked about why you need to have a marketing strategy first. This week, we’ll work on how to build that strategy by asking the four questions that are crucial to a solid plan.
Marketing Strategy Question 1
Where does my Ideal Customer look for products?
Your dazzling new product needs proper promotion and placement to be successful. But where does your ideal customer look for products? General internet searches are a huge resource for product information, but peer-to-peer endorsements are just as prevalent. Should you focus on Facebook advertising, pay-per-click or hire a team of tech evangelists to share their enthusiasm for your product? Research your ideal customer and find out where they look for products.
Marketing Strategy Question 2
Who does my Ideal Customer trust for recommendations?
Just like you do, you can expect your ideal customer will look for more information about your product before they purchase. Most consumers rely on specific sources for recommendations, but what are they? Maybe your ideal customer checks with family and friends before buying. Or possibly they trust website reviews and thought leaders. Take stock of the resources you already have that might be of use building credibility with your ideal customers. Try creating a product that builds on that credibility rather than starting from scratch!
Marketing Strategy Question 3
How will I measure success?
There’s nothing worse than working hard but never feeling like you’ve reached an end goal. During the product creation process, take some time to think about what the success of your campaign will look like for you. Once you know where you want to end up, you can determine the key indicators you will use to measure your success and set up a plan to help you get there.
Marketing Strategy Question 4
Who is my competition?
Standing out from the crowd is always hard. You need to differentiate your product from the competition, but you first need to know your competition. Who does your ideal customer buy from now? How does your product provide a better solution to the problem? If you’ve chosen your product correctly, you may have very little competition, but surveying the wider product field is still a good idea.
Your marketing strategy is your plan for success. Ask the right questions, find the best answers and build your marketing strategy from there. You’ll find that knowing how you’ll sell will help you build a better product!
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