Make a fresh start this spring and give your products a bit of an overhaul
Take a look at your competition – Even though you may think you know who they are and what they are all about. It’s only when you take a really good look that you understand who they are and what they have to offer. So get a pen and paper and start by listing all those similar products and services and think about why customers may choose them over what you have to offer. Review your rivals marketing materials, including any brochures, websites, adverts and social media. Analyse how your offering compares and what you think you can do better. Work out where the greatest risk is.
Ideal Customers – If you’re going to launch a new product or give an existing one a make-over its financial advisable initially to target those customers you know are likely to purchase from you. These maybe existing customers who already buy a similar product from you or it could be consumers who you know buy something similar from somewhere else. It’s much easier to sell to consumers if the need is already there.
Value proposition – Now you know what you’re going to offer and who is going to buy it; you now need to understand what you must offer in order for the consumer to choose your offering over your competitors. Your offering needs to be different.
Marketing strategy – Think about how are you going to tell people about your offer, Adverts, emails, social media or direct marketing.
Test your idea – It’s silly to launch something without giving it a little test first. You could organise some small focus groups or simply host a meeting with your target audience. You could also carry out an online survey with your current customers.
Launch your campaign – PR plays a crucial role when it comes to launching a new or revived product or service. You could hold a launch event, invite local press anything to get a buzz centred on your product or service.
Use Social Media – It’s important to link up with influential bloggers if you can. Providing them with the product in the hope that they like it and will therefore talk about it is a quick and very cost effective way of getting great publicity.
Once the initial buzz of your launch dies down you will need to adjust your message and start laying the footings for your next launch.
If you would like help on how you go about giving your business a bit of an overhaul then contact us – don’t forget we offer a free 30 mins consultation.