Marketing your products does not guarantee a hundred percent chance of success. Sometimes, business failures are commonly caused by poorly formulated marketing strategies which keep products away from the expected target market. Knowing some of these common mistakes in product marketing will give you some idea of the things that should not be done in selling out your products. Marketing tips by Ali Mayar can be your source of information such as this helpful guide below.
• Lack of product research and analysis. Before serving your products to real customers, giving them out as samples for testing can be a way to minimize the chances of losing the patronage and interest of your target market. There is still time to remodel or remake your product as long as they don’t get the official marketing exposure yet. Taking down inputs and opinions from product testers will help you get a clue on the manner in which your target market expects how your product should be.
• Absence of Unique Selling Proposition (USP). A catchy advertising phrase could be the material you need to successfully market your product and differentiate your business from the rest of your competitors. If you don’t have a unique selling proposition to reinforce your selling pattern, chances are, customers won’t be interested enough to establish patronage with your product. Words are a powerful tool especially when it comes to the concept of marketing.
• Letting Repeat Customers Slip Away. There is always the marketing rule which proposes that about 80% of your product sales come from existing customers while the remaining 20% depend on new ones. If you focus too much on recruiting new patrons for your product, you may end up losing a greater part of the equation. Keeping in touch with your established customers will help you maintain that larger share in the market.
• Misunderstanding the market’s need. Sometimes, the most fundamental things can be the very cause of a business downfall such as the failure to see the real problem of the target market. Imagine manufacturing a dozen of shoes for customers that look for a dozen of socks. This could mean a disaster especially for new businesses which doesn’t have a backup plan prepared for situations like this.
If you think you have what it takes to become a leader in your type of business but can’t come up with the ways to market your products, you can always avail of the services from experienced businessmen and listen to what they have to say like marketing tips by Ali Mayar. Sometimes, all that you ever need is a boost in your marketing strategy and by knowing some marketing tips by Ali Mayar, you can find a good way to jumpstart your business.