Finding ways to creatively market one’s company is what sets a brand apart and may be the difference between a brand succeeding or failing. Regardless of how good a product might be, the secret to turning a profit lies in the way the company markets itself.
Marketing Your Product
The reason so many companies are more popular or successful than others isn’t really about what they’re selling, it’s how they’re selling it. Read on for five creative ways to take your brand’s marketing to the next level.
1. Sell Your Product with a Story
Creating engagement is the key to finding buyers for your products. A perfectly crafted story has the power to draw potential buyers in. The story element of the marketing process engages consumers’ emotions, allowing them to connect with your brand on a much deeper level.
Relating too stories is apart of human nature. When consumers are confronted with emotions like sadness, anger, joy, hate or love in certain stories, the limbic system in the brain is activated.
This allows customers to connect with a brand intrinsically, making your product more memorable and valuable simply through the story that you tell. Whether the story is told at events by way of a video shown on TV stands for exhibitions or in person by sales associates at brick-and-mortar locations, customers will always respond better to a company that puts in the effort to go beyond the basic sales pitch.
Moreover, stories make interested buyers want to learn more about the brand and make them want to support your company by becoming a long-term consumer. When passersby hear a brand’s story, they are often immediately drawn into the narrative of the brand, wanting to learn more about the company.
2. When Marketing, Work Within Your Product Category
Many brands think that creating an effective marketing campaign translates to creating the products they think their audience wants. However, this isn’t always the case. When trying to cater to the public, it’s important for brands to stay within their product category.
The success of a product is found in its consistency. A brand that comes up with innovative ways to market the same product that their consumers love will always do well. When brands try to expand their product line and go in a completely different direction, consumers may get confused or feel disconnected from the brand. For example, Life Saver’s release of their own brand of soda was incredibly unsuccessful. Since consumers typically associate the brand with candy, they assumed that the soda would be a liquified version of Life Savers.
After their venture into the world of soda failed terribly, Life Savers realized the importance of sticking to their guns and maintaining consistency in their line of products. Instead of releasing something entirely different from their standard candies, Life Savers should have spent their time and money working to create more innovative campaigns for the products they already had.
3. Make it a Point to Do What Other Brands Won’t
A company can have incredible products, but there are more than likely several other brands that offer the same thing. This is why it is so important to use marketing to creatively get an edge over your competitors. As companies try to grow, they need to be willing to go the extra mile and take the innovative approach to the market that others won’t. While these new ideas may not always work, when they do, they will set your company apart from all of the other brands in your niche.
Nike did that when they introduced the concept of using celebrities to endorse their products. What started as a first attempt turned into a $270 million dollar marketing strategy.
With this incredibly game-changing move, Nike was able to catapult their company towards success. Now, Nike stands far above any other competitors in the market. The lesson to learn from Nike and other companies that go out of their way to try new things is that though failure is a potential outcome, so is success.
4. Don’t Neglect Your Existing Customers
Oftentimes, marketing campaigns are targeted to draw in new customers. However, there’s something to be said about reaching out to your original customer base. While there is a lot of potential in attracting new customers, it is equally as important to keep current consumers interested as well.
Such is the story behind the iconic catchphrase, “Got Milk?” This campaign was birthed out of the decline in dairy sales and the National Dairy Board’s need to put their advertising budget to use. Instead of creating a campaign to target consumers that didn’t drink milk, they partnered with Goodby, Silverstein, and Partners to create the iconic campaign.
5. Brand Each Product Well
While it’s important for a brand to stay consistent, creating new products is a part of what keeps a brand relevant to their audience. However, when creating new products, companies have to go about the process strategically. This is why it can help to invent a new brand name specifically for these new products. Companies that are hoping to introduce a new product to the market but don’t want to confuse consumers should introduce the product as part of a new brand.
Companies that go in this direction are free to target an entirely new niche simply by changing their brand name. This small distinction can be the difference between the product failing or being successful.
The future of a business depends almost entirely on its ability to market its products successfully. Companies looking to improve their current marketing strategies should put these five ideas to use to ensure they are able to reach their target audience and keep their brand image consistent.