Creating a successful promotional strategy involves understanding the market you’re selling to and the benefits of your product to them. Plus, it means knowing the promotional mix that you’re going to use.
Identify Your Target Market
Who are you promoting products to? Knowing this first, before you even create a product, will help you create the right products that sell easily to your audience. Plus, it will help you develop your marketing message more clearly.
Know the Benefits of the Product
A lot of times it’s easy to get mixed up with features and benefits. Benefits are what you’re really selling to your audience when you create a new product. What does this product offer your audience outside of the features? Time, freedom, knowledge, or something else?
Know the Promotional Mix Ideas
Advertising, public relations, sales promotions, personally selling, direct mail, email, content marketing, social media marketing, sponsorships, influencer marketing and more. Choose a few different methods based on what you know about your audience and your product.
Determine Your Mission
Every business has a mission that every product created should stand up to. Write down your business mission statement and keep it in clear view when you’re creating products or when you’re promoting products, so that all your efforts carry the same voice.
Set Your Marketing Budget
You have to spend money to make money, they say. However, it really depends on how fast you want to earn money from your product. Content marketing is very inexpensive but can take a lot of time. Facebook ads are less expensive options but take some skill to do right.
Develop Your Plan
Write out the entire plan that you want to action. Build out your marketing funnel and include what type of content you’ll use, what type of ads you’ll buy if any, and if it includes affiliate marketing. For example, maybe you have decided to use a webinar to build your mailing list as well as sell some of the product. It might look like this: webinar > one-time offer > email list > content to nurture list > segmentation > various content for each segment > sales pages, landing pages, thank you pages and so forth.
Implement Your Plan
Don’t delay. Once you have your plan, do it. Don’t think everything must be finished and perfect to get started. You can build your list while creating the product. You can host webinars while still in creation mode. You can do all of it simultaneously when building up to launch date.
The way to make this work best once you’ve finished creating everything and all the automation is in place, is to let that automation work. Automation takes time to set up but once it’s in place it makes the income feel passive, eventually. Your autoresponder is going to be very important in this equation, so pick well – switching later isn’t as easy as some people say.
Hire a Launch Specialist
There are virtual service providers whose specialty is launching new products. If you have a high-ticket product, a launch specialist can make all the difference.
When you’re launching a new product, think about how you’ll promote it before you even create it. This way, you can have a very successful launch day making plenty of sales to help spur on more sales, and enable you to incorporate even more marketing and promotion methods.