First, coming up with a new product or service idea breaks a sweat, isn�t it? Secondly, when you are finalized with your product or service, finding the best ways to promote your product in a market is a back-breaking task!
The first product, then promotion, are two common things in an entrepreneur’s life, starting with their new business. When starting, it seems extremely daunting; but it�s very rewarding when done. Usually, people believe that you should be primarily focusing on making an excellent product that covers utility for a user in itself. By going about that way, you automatically pull a promotion for a product, initially optimizing word of mouth. But people miss thinking that if you don�t promote your product or service aptly, there are 90% chances that you miss out on big opportunities waiting down the track!
We are fully aware of your feelings and how it feels when you miss your chance while you are an inch distant from achieving your goal – it�s very heartbreaking! To ensure you don�t go through that phase anytime in the future again, we have compiled a list embracing the Top 5 Ways How you can Promote your Tech Product in a Market, and learn more about the tech products through VPNJunkie website, enriched with quality reviews.
Pro Guidance: It is well assured, you can easily use these tips to promote any product, even if it’s a non-tech product!
Now, let�s come over and see what promotional tactics you can use to promote your product in a market this year in 2021.
List of Top 5 Ways to Promote Your Tech Product in a Market
Here you will find Top 5 ways to promote your tech product in a market that are practical and the market proved!
Social Media Marketing
As an entrepreneur, you should always be on your toes, knowing what products and marketing strategies are trending. You have to keep yourself well updated. So, here, I would be right to light over the impact of covid-19 on marketing strategies and businesses. With SOPs and Social Distancing to follow, all companies are going online. Plus, instead of choosing conventional marketing, which is quite expensive, people prefer to be economical, choosing a cost-effective way of social media marketing. So as a business owner or even as a marketer, it�s a great time to leverage this time, giving you a more direct way to connect with target audiences globally!
Let�s see what a Marketing Guru believes about Marketing:
�People don’t believe what you tell them. They rarely believe what you show them. They often believe what their friends tell them. They always believe what they tell themselves.�
One more to come:
“You can�t fool all the people, not even most of the time. People, once unfooled, talk about the experience.�
If you try to interpret these sayings by Seth Godin, you will realize that people value more experience that they have with a product.
But let me show you some stats which speak louder than words:
- When it is about millennials, only 1% of them trust advertisements. However, 33% of them trust blog reviews for their purchases.
- Around 40% of people reported that they purchased a product online after seeing it used by an influencer on Instagram, Youtube, or Twitter.
To summarise this all, people value influencer marketing nowadays because they see influencers – individuals with a strong fan base and expertise in a particular domain share their experience with the product.
It is adequately said:
The early bird catches the worm
Meaning, being first improved your chances of success. So as a consumer, it is a great way to enjoy an excellent brand with so much to offer in value, and which is expected to take a steepening yield curve giving rise to inflation which means products will be getting expensive very soon.
As a brand, giving early discounts like a smartphone with cutting edge features pricing $1099, but after availing early deals of up to 60% new price will be $439.6, which is a huge difference and cutting almost $659.4, thus making it a great way to create loyal customers.
One of the other popular ways is giving free giveaways. In this, individuals – almost all social influencers tend to provide products free of cost by running a contest, and whoever wins that contest is announced as the winner of a certain product. And this is one of the examples!
You don�t behave in such a way randomly, but the word FREE stimulates a response from us that is different from any other transaction we have in the business world. As a business, FREE pulls a user’s eyes to a point where we want them to go and provokes users to move forward. Would you love to know the reason behind this behavior? So because our brains are hardwired to love the feeling of getting something for nothing.
It looks like we are dragged by the concept of reciprocity, one of the basic laws of social psychology: It says that we pay back what we received from others in many social situations. In other words, if John does you a favor, you’re likely to return it to him.
Word of Mouth
The most convenient way which costs you very little, or almost nothing!
Consumers trust their friends because word-of-mouth marketing is the most valuable marketing source. According to research conducted by Nielsen, 92% of consumers found to believe in suggestions from friends and family more than they do advertising. This stat alone solidified the word of mouth use case.
Let me give you some fun stats that will strengthen even more a case of why you should be paying attention to the word of mouth marketing in 2021:
- As per 88% of people had the highest level of trust in a brand when a friend or family member recommended it.
- As per 26% of people will completely avoid a brand if their friend or family tells a negative story about their experience, which is very true in our daily lives.
- As per mean value, word-of-mouth drives $6 trillion in annual global spending and is responsible for 13% of all sales, which isn�t a bad deal in any case.
- Word-of-mouth is even more influential than paid ads, resulting in five times more sales because it’s the most common and first way you use to promote your product or service.
- 20% of people become aware of Smartphone apps through word-of-mouth recommendations.
I hope that these fun stats are enough for you to believe in this statement; out of the top five trending ways to recommend a product, word-of-mouth comes first, followed by social media marketing, influencer marketing, and early discounts, etc. However, I am mentioning this lately!
So let�s give a great wrap-up to this article! In this article, which is quite informative, I hope you all discovered The Top 5 Practical Ways to Promote your Tech Product in a Market. By going deeper into this article, you would have learned why these tips are best to promote your product, and it is not only tech-centered; you can use them for other categories of products.
So far, this was all about How to Effectively Promote your Product in a Market; but now, I would love to hear from you, knowing what you think of this piece of information produced. What you can do is, you can share your feedback by simply putting your thoughts in a comments section. We will appreciate your time investing!