Planning A Product Marketing Strategy That Sells
- Mar 01, 2022
Tons of marketing tactics are used by businesses out there. However, an extensive mix of all those tactics, no matter how unique or creative, does not make a persuasive marketing strategy. The best Product Marketing Strategy is the one planned using channels and tactics fitting your business model and product. As a marketing agency, we at Xcentric Services can pick the marketing channels and tactics for you, based on customer behaviour and even tweak results. Though before you get on board with us, let us explain how we can market your product, increase the customer base and SELL.
6 Ways We Market The Products Of Our Clients
Quite often, brands only focus on attracting new customers, which we call the acquisition treadmill. However, the cost of acquisition keeps adding up when the customers only purchase a single product and never return. Such costs are very hard to return. Hence, we use multiple marketing tactics for increasing the profits from the hard-earned customers of our clients.
Actually, our team uses tactics that increase the number of orders per customer, average value of an order, and also attract new customers over time. Getting into the details, they make the following marketing efforts work together for supporting the overall marketing strategy:
1. Introducing Loyalty Programs
Loyalty programs can be both – paid or free. They are used for offering special benefits to those customers who are loyal and always purchase for your brand. For example, customers of a dental clinic pay a lifetime membership fee and enjoy perks like 5% or 10% off on almost every treatment.
Mostly, we introduce the unpaid loyalty programs in the Marketing Strategy for Selling a Product of our client. They use a points-based system in which the customers earn different types of rewards for certain points.
Safe to say, these loyalty programs always work effectively as they provide the customers’ reasons to return to the online store of the client. Whether it is for using the points they have collected to win a gift or receive an off on their purchase or get free shipping – they return and shop more.
2. Creating Winning-Back Email Campaigns
Email marketing campaigns are the lifeline to reaching high-intent buyers who have visited a web store already and made a purchase. It is an ideal marketing channel that helps encourage repeat purchases – and the experts at Xcentric Services love leveraging it.
One of the valued sequences that they create is named a winning-back campaign. It is similar to lifecycle marketing – which seeks engaging customers based on wherever they are within the sales funnel. For instance, if the customer is in the post-purchase phase, we send them an email that prompts a returning trip.
We usually call such winning-back campaigns a one-two punch because their goal is to convert the first-time customers into repeat ones. It involves setting up an email campaign first for targeting the new customers and setting another email for sending after a few days or a month of their purchase. Therefore, making them resonate with your brand and make a purchase once again.
3. Releasing Products On Schedule
Brands do not usually schedule product launches in the same week, day, or month every time they start selling online. On the other hand, when we plan a Product Marketing Strategy for any client, a product launching schedule is followed.
Customers are smart and always remember the dates when brands drop new products. There are high chances of them visiting the website too for checking what is launched or opening the announcement email. All it will take is following a schedule for releasing new products and the customers keep coming back often for checking them out.
To give an example, one of our clients sells groceries online and launches new product deals following theme for design every weekend. For the customers of the brand, this drums up interest to see what is new every week. Believe it, the sales go crazy this way.
4. Perfecting Up-Selling & Cross-Selling
Offering to ship for free does not work for some businesses – but we have a solution for that too. For clients who sell products that cannot be shipped for free, we employ the up-selling and cross-selling tactics. They help in bumping up the overall value of orders placed. Not familiar with these tactics? Here is what they are about:
- Cross-Selling – when customers are invited for purchasing a complementary product. Such suggestions work when the customers are looking through their online shopping cart, similar to walking in an aisle at a physical store and spotting another product to buy.
- Up-Selling – when the customers are encouraged to buy products that look similar. It affects the most on product pages and when the customers have not committed to purchasing any particular product.
Both the tactics are based on the idea that when a brand is offering a compelling product, customers spend A LOT on it willingly – even more than the average they do. Hence, we set the goal to understand what the customers of our client want and then offer them those upgrades and products through cross-selling and up-selling suggestions.
5. Starting With Paid Marketing To Find Footing
Influencer marketing and paid marketing on social media both fall in this bucket as they help in validating products and scaling them cost-effectively. You must have seen people with a HUGE following on social media posting about products they like and offering a discount code to the followers. It is called influencer marketing and is quite effective.
When planning a Product Marketing Strategy for clients at Xcentric Services, we make this work by reaching out to influencers who we think like the products they sell. In return for that, we offer them the product for free or any other incentive for talking about the products on their social media account.
Back when traditional marketing was all businesses had, celebrities were the influencers and charged a fortune for promoting a product. However, the tables have been turned by the influencers. They talk about certain products on their social media account at agreed terms and conditions – like how many times they will post and whether as a whole post or just in stories.
Influencers can be asked to post about a product twice on Facebook – one as a post and the other as a story. Hence, it is up to our strategy and of course whatever best resonated with the target audience of the client. Big brands like Al-Fatah and Metro in Pakistan are using influencer marketing to spread the word about their sales and generate profits.
You can do the same for your business by working with us. Our team will work with you for designing Ads, write their copy, and place them on marketing channels that work the BEST.
6. Converting The Existing Traffic
If you are in the online selling business for quite some time now, traffic will be already coming to your web store. In such cases, rather than taking their focus towards driving traffic, our marketing experts drill on taking the already existing traffic towards conversions. It is termed conversion rate optimization, which is easily automatable, budget-friendly compared to paying for getting traffic and increases the ROI of paid traffic placements.
Imagine it like using a funnel for refilling a container of hand soap, but because the funnel has many holes in it, the soap is oozing out. Usually, customer funnels suffer from a similar problem. Hence, rather than buying more customers, we fix the funnel for our clients and conserve their already existing soap – CUSTOMERS.
We know that you are thinking nothing is unique about this tactic because every agency focuses on conversion rate optimization. Yes, they do, but not at the right time and place. When you get on board with us, for such optimization, we start off by plugging in the leaking holes in the flow of checkout. After all, that is where the sales are sealed.
Ready To Market & Sell More Products?
Launching new products and selling them sounds deceptively easy. In reality, a strategic and thoughtful strategy is what it takes to take a business to the next level by selling. Result-driven marketing strategies help with acquiring new customers and selling products. However, many times, businesses forget this ingredient of customer retention and keep thinking about How to Market a Product. With the competition getting too high in this digital arena, you have no time left for that and need to set out for getting more customers NOW.
The marketing experts at Xcentric Services can help you with that by re-engaging customers who have already shopped from you and selling your products to them once again. The effective key to that is a marketing strategy that is well thought-out, and we know how to plan one. For more information about the services or getting started on marketing your products, give us a call at 0300 800 2094 or drop a query a email@example.com TODAY!