As a business owner, your main objective is to offer products that serve your market in a profitable way. However, to do so, the right customers have to see you and respond to your marketing efforts. Unfortunately, this process is easier said than done. This is largely due to the implementation of ineffective marketing strategies. So, which strategies can be implemented to attract potential customers and increase revenue? Below are a few key strategies to make your business products more attractive.
Allow for Personalization
Customers love a brand they can relate to that values their opinions and needs. In fact, a recent survey found that about 77% of customers admitted to recommending and buying from a brand that gives them products tailored to meet their needs. This one connection can increase your customer base and loyalty, which naturally translates to growth and sales.
But how can you achieve personalization? Simply study your customers’ preferences, such as interests, feedback, or shopping habits. This data gives you insight into who your customers are and how to tailor your marketing techniques to pique their interests. For instance, if you are in the exploding cannabis industry and sell prerolls, you may notice that your customers usually need to store these rolls to keep them fresh and safe. Therefore, offering preroll packaging to meet this need could bring more customers to you. Of course, this is an example, but you can explore this concept for any type of business.
Practice Artificial Product Scarcity
Artificial product scarcity is when you let your customers know a limited number of products are available. This strategy is usually effective for more innovative and highly desirable products such as jewelry, perfumes, bags, or art. The artificial product scarcity tactic is usually effective because customers love the idea of being a part of a small group of people who own the product. Additionally, the fear of missing out (FOMO) makes the product even more desirable.
This technique can be done with integrity and as a viable marketing tool. I don’t, however, recommend using it frequently and as the main way to promote sales. Be honest with your customers, and use this technique when it is the truth and helps you communicate your limitations to produce or obtain an ample supply for its demand.
Post High-Quality Content
Digital marketing has become one of the most effective marketing techniques today. Within this option are a number of strategies to consider, depending on your industry. An effective form of digital marketing for your product is content marketing, specifically product description and photographic content.
However, for this to attract customers, you need produce high-quality content that stands out from the crowd. This means that your product descriptions need to be precise, easy to read, and a true reflection of your product. Over exaggerating and underselling will have negative impacts on your marketing campaign once your claims are discovered to be false. Additionally, make sure that photos or video content is clear and creatively displayed to invite customers to learn more about your business and products. This is a good way to intrigue them to interact with your business.
Know What Your Competitors Are Doing
Your business is competing with others for the same customers. Many businesses try to win this battle by copying and sometimes improving upon what their competitors are doing. While this may be effective occasionally, it may not help you attract more customers, as you are practically doing the same thing as everyone else in the market. Therefore, consider looking for the needs that aren’t being met. Doing this sets you apart from your competitors and will help you be seen as a viable, unique entity in the market.