Product formation takes a lot of time, and to make it successful, businesses use different marketing approaches. Over one million products launch every year. Every product needs unique marketing tactics. Social media has changed the marketing dynamics. To make the product stand out in the market, regardless of industry or quality, these creative product marketing ideas will be helpful. Let’s dive into some crisp ideas to apply to your strategy for 2023.
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What is Product Marketing?
Product marketing is the process of promoting products in the market. The ultimate purpose of this marketing is to sell products to potential customers. It is a process of development and creating awareness about the product.
Commonly, different teams are involved in this process. From marketing to sales and customer support, it passes through all these departments. These teams ensure that the marketing efforts are aligned with the business goals.
Product marketing also involves brand marketing. With the right strategy and approach, your marketing campaign also promotes the company as a whole.
Why Is Product Marketing Important?
Product marketing is critical to getting insights and feedback from customers. With the right strategy, it helps the marketing team position their product well in the market. The marketing department helps businesses increase conversions. It is also important to reach your target audience and create awareness about the product. People get to know the product, buy it, and become ambassadors.
To add more effectiveness to marketing, social media opened doors to enhance the experience. Social media is playing an enormous role in promoting and creating awareness. Regardless of the challenges of product marketing, businesses are adopting this strategy to boost the visibility of the product. It has changed the dynamics of marketing and led to more conversions.
Best Product Marketing Ideas
Below are some of the best product marketing ideas that businesses can execute for better return on investment.
Get in Touch With Influencers
Influencer marketing is becoming a trillion-dollar industry. Businesses are approaching fast to get the most benefit from this marketing. If you have a startup, you don’t need to aim for million-follower influencers (e.g., Kylie Jenner). You can fulfill your marketing requirements by joining micro- and nano-influencers with a valuable following. These types of influencers are capable of connecting your business to the target audience. This influencer category can promote products through a giveaway or at a low cost.
For established businesses, they can join 1 or 2 mega influencers as brand ambassadors. Mega influencers usually have more than one million followers and are also considered celebrities. They have a presence on more than one social media platform. They are well recognized among people and are a great source to expand brand awareness.
So, whatever type of influencer you choose, they must resonate with your brand values.
Pre-Launch Giveaway and Contest
This is one of the most hyped tactics in product marketing. Brands create a list of influencers and give the product away to the exclusive group before launch. It creates buzz around the product and the company. The KOLs post giveaways or use products in creative ways to engage their audiences and create awareness.
Brands also run contests before launches, and this practice is common on Instagram. Contests include challenges around hashtags on social media, giveaways, and more.
It is important for brands to know the concept behind the story that influencers will create for them. It must resonate with the brand’s values and engage audiences. The idea must incorporate the content that can help your product go viral.
Besides static posts on Instagram and other platforms, you must incorporate video content. Video is a source of engagement and abruptly catches the attention of customers. Use videos to make your marketing more catchy and reach the target audience faster.
Your marketing efforts are incomplete without video content, as it helps businesses spread messages quickly. Videos are easy to share, which boosts SEO, branding, and sales presentation.
Every business has a different and loyal target audience. Remarketing is another good approach to targeting customers. It helps engage audiences that have already used your products and services. Businesses use emails, newsletters, and SMS marketing to boost conversions. Your marketing team should have a vigilant approach towards updating the data of loyal customers.
The best ways to retarget your existing customers include:
While compiling the data of existing customers, put efforts into creating customized ads. Custom ads increase brand loyalty, increase engagement, and promote satisfaction.
Custom Retargeting Email Campaign
Create separate campaigns for clients who haven’t purchased in a long time. You can get help by segmenting (e.g., within the last 3 months, within the last 6 months, etc.).
Collaborate With Other Brands
Partnering with other brands brings relevance and increases campaign outreach. It helps brands reach potential customers and generate real-time interest. For example, the OPPO smartphone brand partnered with FIFA to reach both segments of the audience. It increases viewership of the brand throughout matches.
Also, it’s a great way to promote brand awareness among a live audience. Brands also collaborate with NGOs for a good cause. It increases brand loyalty and makes it a social brand. Collaboration also reduces costs and increases revenue. Both brands can share posts and updates on their social platforms.
As of now, the impact of an email or newsletter hasn’t faded. The working class stays active on their email platforms, and they might get your notification for your new products. Sending emails or newsletters daily increases visibility and engagement.
For an effective email campaign, businesses must collect first-party data. It helps in creating personalized experiences. Make sure that email feels as if you are interacting with them in real time. There are a bundle of email marketing tools you can use to stand out in your next campaign.
Is Product Marketing Worth It?
Product marketing depends on the budget, nature of the product, and target audience. It is not always necessary to delve into every marketing tactic mentioned above. You can choose those you are comfortable spending on. Whatever idea you choose, it has to stand out to attract prospects. It should be engaging and resonate with their needs.
Featured Image: MagePlaza