Best Marketing Strategies To Out-Market Your Big Competitors and Increase Sales
Marketing strategies are the common pitfall for many new business owners due to insufficient budget.
I’ve been involved in two multi-million dollars business startups in Vietnam and Thailand and a lot has changed in the world of technology. Marketing is no longer restricted to traditional methods.
Back in the day, whenever we have a new product to launch, our ad agency will discuss with us different marketing approaches on how to introduce our new product. I’ll be presented with a variety of customary marketing strategies from TV advertising, billboard, mobile advertising, radio, magazines, social media, and their quotations nothing below $50K.
For many working from home business owners, how we can compete if we don't have funds to spend on marketing.
This article will walk you through the best marketing strategies that you can instantly apply to deliver results to your business without paying any hefty fee to any ad agency.
What is Marketing Strategy and Why is it Important
Investopedia definition: A marketing strategy is a business’s game plan for reaching prospective consumers and turning them into customers of their products or services.
If you don’t understand what marketing strategy is, your customers won’t come to you. Everyone seems to have different opinions and interpretations of what marketing strategy is.
Marketing strategy is how customers perceive you or your product.
Why Marketing Strategy Important To Any Business
We buy things based on the emotions they trigger.
Some marketing strategies are better than others because of their ability to generate an emotional response. We make decisions based on our emotions whether we are happy, frustrated, or sad.
We buy from people or brands we trust.
Prospects become clients when they feel good about choosing you, your product, your service, or your company. In other words, people will buy because they trust you as a person behind the product.
The value they are getting.
Your customers become repeat buyers because of the value they receive. Though we all know that most consumers are price-conscious, some people do not look at the price alone when making their buying decisions, but rather, they consider what kind of value they are getting.
So, what is your product worth to the buyer?
The buying experience. Clients will judge their own experience with you. How do you make them feel? Do they feel confident in you or the product’s abilities to solve their problem?
Best & Effective Way To Market Your Product To Increase Sales
Planning your marketing strategies from the start is essential to your business success.
You can look into these questions and start answering them to yourself.
- Why do you think people will choose you or your product/service over your competition?
- Can you make them feel good by solving their problem?
- Are you credible enough to deliver what your customer wants from you?
- What kind of message (the benefits your product can give) that you want your customers to count on?
- Do you have a clear methodology to present your product or services to your clients?
- How do your customers get easy access to what you offer?
These are only a few of the marketing strategies questions that you should ask yourself before you begin to market your product or service.
Serving clients well & staying engaged with them is only one of the best marketing strategies to increase sales, get repeat orders & referrals to your business.
Online Marketing Strategies To Help You Boost Sales
Can social media, video, and pay-per-click ads make your target customers trust you or your product?
Great question huh!
The answer is, yes and no because of several factors like:
Do you have an effective sales funnel in place?
Many businesses don’t evaluate the process of their leads when they first landed on their website. Without an effective sales funnel in place, it’s hard to pinpoint why your target customers don’t end up buying your product.
If you don’t know what a sales funnel is check my article about “How to create an effective sales funnel”.
Having a sales funnel helps you filter the flow of your traffic whether for lead conversion or sales conversions whatever your business objective is. This will help you identify the right process necessary for segmentation to get the best results out of your website traffic.
Do you use email marketing to build trust?
Nowadays, you can connect with your prospective clients and start building trust by creating a video (live or recorded), sending your personalized email sequence using email marketing.
Maybe you have heard this saying “money is on your list”, but you do not comprehend what exactly is email marketing and how does it work to make money from it.
Check my article about “Email marketing how does it work” and the marketing strategy behind it.
Email marketing is an efficient & effective way to enrich business communications and the most cost-effective way to stay connected & build rapport with your prospects, existing clients & repeat buyers.
Are you enticing your customers with free samples?
Once you already set up both your sales funnel and are ready to build trust using email marketing, sampling your product or testing your business idea is the best and most effective marketing strategy that you can do to generate sales.
Freebies keep customers to keep coming back for more.
The idea is, once they try the product for free, they’ll be more confident in paying you for the same item. This is how you can help potential customers to make the buying decision.
Marketing Strategy That Actually Works For Any Business
Think about the food tasting inside the supermarket or the free makeup demo inside the mall.
Sampling your product online is a great way to make your customers feel happy & feel good about you and your product.
Examples: If let says, you are selling an app you can provide a 14-day free trial to your target customers who can benefit from your app.
Or if you are a yoga instructor then you can provide a free 3-day yoga session.
All you need is to record three short videos on YouTube showing some basic yoga positioning that they can follow for free.
This is how you can provide product sampling where your target customers can experience your product or service.
When they started to trust you, it will be easier for target customers to buy what you offer.
Research shows that many customers tend to purchase products or use their service right after product sampling.
Go and identify who should you sample your product.
Final Thoughts
When I left my highly successful job and began my business startup, I think about those six questions we covered above, have my sales funnel and email sequence in place, and enticed my ideal customers with a free product sampling.
I started learning how to make a living from home and I am here to help those burnout professionals who are uninspired by the work they do day-to-day and don’t feel in control of their life or future.
So, I want to invite you to try my 30-Day Be Your Own Boss Challenge where I will give you access to my free student learning portal, sign up here.
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More Breakthrough Resources:
How to turn your expertise into a product?
Try this 30-Day Be Your Own Boss Challenge to help you get clear of what you want & publish your own signature product without overwhelming.
How to charge a premium as a Coach?
Sign up for my masterclass to help you attract high-value coaching clients using my C*A*P organic system.
How to crush your short-term and long-term goals?
Check my 3-part blog series to help you attain your goals and organize your entire life.
How to be focused and productive?
Read this article to help you maximize your self-worth while doing the things that you love.
About Jeng Cua
After borrowing her lifestyle living paycheck to paycheck, this #WFA (Work From Anywhere) mom wouldn’t let anything stop her from chasing her dreams. Her mission is pretty simple – to help burnout professionals to create & implement their own business system to be their own boss without any fancy office!