Researching the Market in the Infosphere

Marketing is the general term given to all the various activities required to make a product or service available for purchasing. These steps can include identifying customer needs, establishing the selling price & desired profit margins, deciding on the location to sell the product and figuring out the best way to position the product or service in the market.

The Marketing Mix

Product marketing is a vital part of the marketing mix. Its objective is to boost sales by making a product or service recognized to a wider audience, and to emphasize it’s most attractive points. Companies can advertise in a variety of ways, depending on their marketing budget and their target audience.

The different media for advertising can include television, radio, papers, publications, the web and direct mail. Direct mail generally consists of flyers, sales letters or other offline print media to attract attention and immediate response.

Online Focus

Today, most advertising is performed online. This can be via email marketing (still highly effective when done properly), Facebook advertising (hugely popular right now due to the ability to scale, test and modify campaigns so quickly) and Google Adwords (although this has fallen out of favor for many marketers due to the increasingly high costs involved).

If we had to choose one platform to start out with, we’d have to strongly suggest Facebook advertising. Never before have companies had the ability to laser-target their customers, thanks to Facebook’s data gathering abilities. Say what you will about privacy (and many do!) but from a marketer’s perspective, it’s pure gold.

The Power of Online Press Releases

One very popular way of promoting products or services is by using online press releases. If your article is truly newsworthy, you can choose many popular online press release sites which can then syndicate your article to over 200 quality news sites. One of my associates, Michael Irwin used such a service to promote his Queensland property investment service, Pivotal Homes.

Updating Your Business Directory Listings

You may choose to add your new product or service to your online business directories such as YellowPages and Yelp!. The more places you list your offerings, the more chance you have of attracting more leads & sales.

An Offer They Can’t Refuse

The one mistake you’ll want to avoid when advertising is this: forget branding. You want your audience to take action NOW, not later. We’re all busy. We’re all distracted by Facebook, Twitter, the phone, our families… so you want to encourage your audience to seize the day so to speak!

Your call to action (or CTA) can include:

  1. Providing their email address in exchange for a free report
  2. Providing their email address in exchange for a free video
  3. Providing their email address in exchange for a free training course
  4. Providing their email address in exchange for a free coupon
  5. Providing their email address in exchange for a free sample / trial
  6. Watching a video
  7. Requesting a quote
  8. Providing their email address in exchange for a free sample / trial
  9. Liking your Facebook page

The key is to offer something of perceived value in exchange for their contact information or action. 5% savings will not do that! You may need to get creative in order to come up with the right offer.

Leave a Reply

Your email address will not be published. Required fields are marked *