Hammering out the best product marketing ideas for 2019 isn’t a cake walk. Marketing strategies often require tedious research and effort to understand the audience before experimenting something. With new marketing trends coming up almost every day, it’s challenging to stick to your old-school methods and win the race. Kickstart effective and efficient marketing strategies to help your business steer clear of challenges and score the kind of attention it deserves.
Let’s take a deep dive into why it is essential to come up with a marketing strategy for your products and services and how to choose the best one for your business.
Why is Marketing Strategy Important?
To stay afloat in the cut-throat competition, it’s essential to have a market strategy that works. Your marketing strategies govern the roadmap of your business’s success, and it’s true that to decide your success curve, you need to pay attention to marketing. Whether it’s a small start-up or a business giant, the way you reach out to your customers and how strategically you market your products and services decide whether you’re here to stay or sink.
Top 4 Product Marketing Ideas To Make Your Business Excel In 2019
Penetration pricing makes for a brilliant product marketing strategy to cut out the competition in the market. Most businesses go for this technique to make their audience familiar with the product and services they’re offering. Consider using product marketing techniques like Freemium to market your product.
Widely used by most companies while launching a new product or service, Freemium has become the new marketing sensation. Using this technique to market your new product, a company makes its user familiar with its product by giving limited features for free. Once they reach a stage where they are too addicted not to use it, the company introduces the “Premium Pack” at a fee. This technique is prevalent for music apps, gaming apps, and a lot of other software and service companies.
Why should I use Penetration Pricing Technique?
Penetration Pricing is a very well thought technique used to enter the market and attract customers. It helps in creating goodwill for the company and attracts tremendous growth opportunities at a low cost. Many companies use Penetration Pricing to roll out their product and sell it in bulk at a minimum price to keep their competition at bay. This helps in establishing a monopoly in the sector your business runs.
Examples of Companies using Penetration Pricing Techniques: Hootsuite, DropBox, Gaana
2. Coupon codes
Let’s face it; we all are suckers for coupons and deals that help us save while shopping. Consumers spend a lot of time scrolling down websites and apps to look for verified coupon codes. Companies like GrabOn attract millions of customers every day by providing coupons and offers for various e-commerce portals. Whether it’s flight tickets that you’re booking or buying your favorite apparel, there’s probably an offer for everything.
Why Should I Use Coupon Codes as a Marketing Strategy?
Exclusive coupons often turn a potential lead into a customer. Coupons drive sales and lure new customers into trying out your products and services. Since coupon codes help in saving a lot of money for the customers, they get enticed to purchase more, which allows a business tremendously in taking the sales graph higher.
Examples of Companies using Coupon Codes Marketing Strategy: GrabOn, VoucherCodes, and RetailMeNot.
3. Video marketing
Another marketing strategy in 2019 that is in vogue is Video Marketing. Believe it or not, people prefer watching crisp and engaging videos over long for content unless they need detailed research. Videos are engaging, entertaining (mostly), and informative. If you haven’t already jumped into the market with a video marketing strategy, it’s the right time to start right now.
Cisco predicted that by the end of 2019, global internet traffic by video content would be 80% of the total internet traffic. This dominance over the internet globally can be a boon for those who have already started video content marketing for their firms. InVideo is one of the best platforms to consider if you’re looking to convert your content into new videos in a jiffy. Whether it’s multi-lingual videos or graphics, InVideo creates perfect videos for your audience.
Why Should I Use Video Marketing as a Marketing Strategy?
One of the most significant advantages of using videos as a marketing strategy is that visuals often stick to the eyes of the audience. With engaging video content, you can catch the attention of your audience within seconds. Another reason why you should consider adopting video marketing is that the click-through and conversion rates increase tremendously via videos. Once your audience completes watching a new video, they want to take action immediately and often land on your company’s page and buy what you’re advertising. Also, video marketing is beneficial for those who are marketing a product or service that requires a demo. You can save a lot of time by rolling out a video to demonstrate what you have for your customers. Interesting, right?
Examples of Companies using Video Marketing Strategy: InVideo
Trust is a huge factor that plays a prominent role when a person invests money in something. Including product testimonials in your marketing strategy can strategically boost traffic and increase sales. The art is to convince your customers to believe in your product and buy them. Once you’re successful in winning them over to your team, there’s no way they’re going to turn back. And the best way to do this is through product testimonials.
Most people read lots of reviews and testimonials before purchasing something. Influencer Marketing is the new trend that’s going strong with each passing day. Get your products and services reviewed by social media influencers and bloggers and ask them to write about it. The above step is one of the most effective ways to reach out to the correct audience.
Why should I use Testimonials and Influencer Marketing as a Marketing Strategy?
The idea is to reach out to a large number of people without spending a bomb. People trust on local influencers and often go by their verdict. Picking up bloggers who have high organic traffic can help you reach out to an authentic audience in no time. Testimonials are a sign of confidence that people have in your product and the faith that it gives to other people to purchase your product. Right testimonials can drive sales like no different strategy.
Examples of Companies using Testimonials as a Marketing Strategy: Salesforce Desk, Redcross, Prezi
These were the top 4 trends that you need to look out for in 2019 and start adopting in your business if you haven’t done already. With these marketing strategies, you can boost your traffic and keep your competitors at bay. Let us know if we missed out any essential marketing ideas that will work in 2019; we’d love to add them!