Are you looking for practical examples of marketing strategies in a marketing plan to promote your new product and improve sales? I scouted around and gathered this list of free examples of marketing strategies in business.
In this post, I will give three examples of marketing strategies to increase sales including a bonus of two other secrets.
With the knowledge that investment without a solid marketing strategy is prepared for failure, as a small business owner, you don’t necessarily have to go through sleepless nights trying to come up with complex marketing strategies.
Marketing Strategies And Tactics For A New Product To Increase Sales
I have compiled examples of marketing strategies for small business services.
Here are some unethical examples you should avoid.
Build Customers’ Trust
Consumers’ tastes often fluctuate based on certain factors. They are reluctant to spend their cash on a product that has just entered the market.
If you are looking for cheap marketing strategies for a new product, you should create ad campaigns that emphasize the value of the products, give out free trials and create offline and online platforms for product reviews.
Boosting your customers’ confidence would generate more sales. This is unarguably one of the best real-life examples of marketing strategies.
Here is how to build business contacts.
Generate A Buzz
Creating massive awareness for your product is a way to spark public interest in your products. Exploit many advertisement channels such as print media, TV and radio, social media marketing. The only downside is that this is a very expensive marketing strategy.
MTN, Dealdey, Jumia, Konga, and Olx are popular businesses that exploited this strategy of increasing brand awareness.
Increasing brand awareness is a good example of marketing strategies for a new product that will help recover your initial investment.
Maximize Buyers’ Emotions
You cannot separate emotions from buying habits. No wonder huge businesses spend thousands of dollars researching customers’ tastes and behavior.
After analyzing many such surveys, they then go ahead to create programs, ad campaigns, and circumstances that can be used to influence their buyers’ emotions to their market advantage.
Most businesses that use sports marketing exploit the ardent customers’ loyalty and dedication to game events. The basis for success when using this type of marketing strategy is to be able to design a campaign that intensifies the need for the customer to buy more.
This idea tops examples of marketing strategies for restaurants.
Prepare For Objections
This ly one of the best three examples of marketing strategies. Removing a buyer’s objection to buying a product is a responsibility often assigned to the sales agent.
A marketing strategist can fashion ads and campaigns to overcome this situation too.
Highlighting the potential objections and overcoming them through offering warranties, testimonials, endorsements and other positive reviews is a major step in facilitating a buyer’s buying decision and attracting new customers who have problems deciding initially.
Create An Urgency
Whether knowingly or unknowingly, people respond to the deadline.
Painting a sense of urgency by setting deadlines is a very good example of marketing strategies and tactics often employed by many companies.
Here are some unique ideas to develop a marketing plan around the concept of urgency: sales ending soon, limited products on offer, temporary price drop, bonuses, and promos expiring soon, etc.
The rush of customers from such a campaign to jump-start a business that has been having issues with reducing its customer base.