Taking a product from its inception to having the lion’s share of your market is no easy task. For many entrepreneurs, attaining this feat usually comes after decades of experience and successful investments. But there have been times in the U.S. where some technology firms have seen tremendous growth with their apps just in their first year of release. The secret is always the people. The difference here lies in how fast a business owner can rally people around a particular product. Here are some tips to get everyone talking about your product.
Double up marketing and PR.
One of the many mistakes companies make in marketing is staying within the box. In recent years, many start-up founders bank so much hope on their social media numbers, forgetting the underlying principle of marketing services (such as creating a personal connection).
Fielding this level of marketing requires you to have a seasoned marketing expert—like a chief marketing officer (CMO)—on your team. Such people have years of experience leading research and churning out successful products. If you’re a business in a competitive marketplace, this means struggling for top talents with established brands who have all the money and the muscle to keep them. The good news is that you can work with an external marketing agency to spread the word about your product or service.
For example, if you’re a private equity firm, there are many agencies that offer private equity marketing services. So they can bring all the innovations from other brands to yours without dealing with internal HR politics.
Don’t let your product speak for itself.
There’s no denying that product teams that go the extra mile in writing winning product descriptions and fielding other visibility efforts enjoy higher returns on investment (ROI). Therefore, it pays to focus on unique experiences that bring customers close to you. Think of how some luxury ties brands put more effort into building websites that feature customizable bow tie and necktie designs. These efforts give your customers more to say about your product, which is a key driver of sales and growth.
Build trust with customers.
Promotion will get your product through a customer’s door, but only trust can make customers believe in a product enough for them to vouch for it. Therefore, as you go big on product marketing, do well to ensure trust in all customer dealings. There are many ways to build trust with customers.
Often, many companies center trust-building around things they don’t do, like not betraying a privacy policy. But your associations with other brands and social causes can also be a good sign of trustworthiness. A watch brand enlisting Drake as a brand ambassador can do enough magic for a product, just as Adidas siding with ethnic minorities. Trustworthiness can be a great way to generate repetitive buyers and ensure sustainability in your revenue.
Always focus on value.
According to the Harvard Business School, there are five stages of business growth. The fuel for moving through these stages is value. When consumers buy an accessory like a great necktie from Zegna or a luxury watch from Audemars Piguet, the value of associating with these excelling brands matters as much as the product in hand.
Prioritizing value in key marketing activities like a manual for a first-time user appeals more to consumers than outright marketing and selling. While there is no one-size-fits-all template for businesses to build value, listening to customers can be a great way to identify value-building opportunities.
Make it easy for people to talk about your product.
Brands that lead conversations about their products set a good example for consumers to follow. This is why established companies like Tom Ford and Ralph Lauren expend large amounts on marketing campaigns that spark social conversations. Digital marketing today presents more opportunities for companies to influence conversations about products. Don’t just create content—start exciting conversations to get consumers talking about your product and its benefits.
