Your product is why you exist in the market and it is how your customers perceive your organization and its caliber. It is important that you communicate your brand exactly the way you want your customers to see and understand it. Failure to do so, will result in loss of loyal customers due to contradictions between expectations and reality. Here are a few tips for you to be concerned about when promoting your brand.
Setting the right price
Most producers would want to set the prices of their products at a level that is lower than that of their rival products in order to attract a large number of customers. Although this can prove to be effective in certain cases, there are instances where it can go wrong. For example, if you market your product as a high end, luxury one, then your pricing strategy must reflect just that. The segment of customers who wants to buy your product simply because it’s cheap, isn’t really the market you must target, and such customers will not stay loyal for too long. So always be true to your brand and efforts.
Set yourself apart from the rest
Always try to do things differently. Never try to follow the market leader or your rivals in promotional activities. Customers remember the products that are unique rather than mainstream promotional strategies that several brands in the same industry would incorporate. If your competitors are handing over leaflets, develop yourself a web page where you can properly define your product. If they are using billboards for advertising, reach out to your target market via your Facebook page. If they are sponsoring a sports carnival, distribute several promotional gifts to the right set of people to make your brand visible all over the place.
Don’t over do it
Promotion is a tricky process that requires an entrepreneur’s undivided attention to the customer. Social media is one of the best sources for brand establishment, especially if you are a startup business. However, posting too many advertisements on Facebook, Instagram or other such social media platforms may frustrate the potential customers. In fact, such activities can sometimes make the most loyal of your customers abandon the product. You can always give away customized pens, or sponsor a community event to diversify your promotional efforts.
Let them know you’re here for good
As an organization, your objective shouldn’t be to merely attract a set of customers for today. Think of where your business will be in 20 more years and carry out your marketing and promotional activities in a way that ensures customer loyalty for that era as well. This helps create faith in the hearts of the target market components towards your product and in addition to that, a promising future often encourages watchful investors to invest in your brand name, availing you with large funds to enhance the organization as a whole.