Scribd Logo
Upload

Welcome to Scribd!

  • 2 views

    12 Ways To Effectively Market A Product Or Service

    Uploaded by

    eurnfdl1234

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    12 Ways To Effectively Market A Product Or Service

    Uploaded by

    eurnfdl1234
    2 views5 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2 views5 pages

    12 Ways To Effectively Market A Product Or Service

    Uploaded by

    eurnfdl1234

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 5

    12/25/24, 11:20 AM 12 Ways To Effectively Market A Product Or Service

    FORBES LEADERSHIP

    12 Ways To Effectively Market A Product Or


    Service
    James Mull Forbes Councils Member
    Forbes Business Development Council
    COUNCIL POST | Membership (Fee-Based)

    Jul 19, 2022, 07:00am EDT

    James Mull is the owner & founder at htmull, an international digital


    marketing and web design agency with clients across all industries.

    GETTY

    Marketing tactics are constantly evolving. This gives businesses the upper
    hand when it comes to discovering what's most effective for their industry.

    https://w w w .forbes.com/councils/forbesbusinessdevelopmentcouncil/2022/07/19/12-w ays-to-effectively-market-a-product-or-service/ 1/5


    12/25/24, 11:20 AM 12 Ways To Effectively Market A Product Or Service

    The marketing strategy you develop should coincide with your business
    model. Make sure to carefully consider your target audience as well as your
    products or services before deciding where to invest your money and time.
    Here are 12 strong tactics to effectively market a product or service.

    1. Offer customers an exclusive preview.

    As a business owner, your goal should be to nurture loyal customers while


    also converting cold buyers down the sales funnel. People enjoy exclusivity
    because it piques their interest and makes them feel a part of something
    greater. If you have a loyal customer base, consider offering them an
    exclusive preview of your new products or services. This can be
    accomplished through a loyalty program, VIP group or simply executed over
    social media or email.

    2. Create gift guides or bundle collections.

    Bundling new products alongisde the top-sellers in collections while offering


    a slight discount over individual product prices is another great tactic. This
    can allow you to bank on the reputation and following of a successful
    product and incentivize buyers wishing to restock on items.

    3. Use customer-generated content on social media.

    Marketing data shows that people are attracted to people. Take a look at
    what your customers post online about your business. This can include
    product reviews, photos using your product or video tutorials. Sharing
    positive customer interactions can build trust with new buyers that your
    products or services are credible and being used by others just like them.

    4. Leverage email signup discounts.

    Email is one of the most direct-connect pathway to your customers, and it’s
    as important as ever to build a strong email list. If you are struggling to get
    clients to opt into your emails, you need to give them a reason. Buyers

    https://w w w .forbes.com/councils/forbesbusinessdevelopmentcouncil/2022/07/19/12-w ays-to-effectively-market-a-product-or-service/ 2/5


    12/25/24, 11:20 AM 12 Ways To Effectively Market A Product Or Service

    always enjoy getting something in return. Consider enticing site visitors to


    join your email list by offering them a discount code or a chance to win
    something.

    5. Create a subscription service.

    The feasibility of a subscription service will depend on your market, but this
    can be a highly effective strategy for some. If you sell anything that buyers
    will need to repurchase, consider taking the stress off their hands by offering
    a monthly subscription. Customers who enjoy your product or service will be
    less likely to cancel and grateful to save some time. Just be mindful to allow
    a cancellation policy that is convenient as well: Subscription services can
    suffer in sales if customers feel trapped.

    6. Utilize all content marketing platforms.

    Content marketing is everywhere today: in emails, blog posts, social media


    channels, YouTube and more. Be sure to get your name out across all
    platforms. It can be hard to do it all alone as an entrepreneur, so look for
    opportunities that arise for cross-promotion. Start with the venues your
    target audience frequents most, then expand to other platforms.

    7. Use targeted ads.

    Targeted ads focus on leveraging current customers that may already be


    interested in your business. For example, if a repeat customer is browsing
    Facebook, you may consider running a targeted ad that shows them a new
    product that bundles well with your top-selling item. This broadens the
    chain of repeat buyers and ensures you're always at the forefront of a
    customer's mind.

    8. Learn from customer reviews.

    https://w w w .forbes.com/councils/forbesbusinessdevelopmentcouncil/2022/07/19/12-w ays-to-effectively-market-a-product-or-service/ 3/5


    12/25/24, 11:20 AM 12 Ways To Effectively Market A Product Or Service

    Social proof is one of the most reliable ways to get through to hesitant
    buyers. Easy availability of strong customer reviews can demonstrate that
    you are reputable and your quality lives up to the standards of consumers.
    Remember to look at customer feedback as a lesson, not a curse. If you
    receive negative reviews, the best thing you can do is respond by displaying
    outstanding customer service. This can translate into positive associations
    with your brand in the minds of buyers.

    9. Collaborate with influencers.

    Closely related to our discussion of social proof, influencer marketing has


    taken the world by storm. Digital marketing can be a game-changer for your
    business. Many people follow influencers and come to innately trust their
    opinions as much as close friends. When deciding to put your product into
    the influencer space, make sure to stay relevant to your industry. This could
    expose you to thousands of new customers that may stick around for years if
    they enjoy your product or service.

    10. Increase customer lifetime value.

    Customer lifetime value allows you to focus on lasting customers that come
    back to your company for years. Many businesses are so keen on acquiring
    new clients that they neglect these loyal customers. Give an equal amount of
    energy to long-term customers by offering promotions, putting their
    feedback into action and creating new products based on request. The goal is
    to retain customers, converting them into repeat buyers.

    11. Run "product drop" giveaways.

    Dropping a brand new product can feel intimidating, but there are plenty of
    ways to get creative with your process. If you have a social media presence,
    consider running a product drop giveaway. New customers will be interested
    to compete for a chance to win, encouraging more people to buy if they don’t

    https://w w w .forbes.com/councils/forbesbusinessdevelopmentcouncil/2022/07/19/12-w ays-to-effectively-market-a-product-or-service/ 4/5


    12/25/24, 11:20 AM 12 Ways To Effectively Market A Product Or Service

    make the cut. Make it fun for customers to get involved and invested in your
    product or service.

    12. Alert customers if they leave something in their cart.

    Create an automated email message that alerts buyers if they leave


    something in their cart for a certain amount of time. Sometimes people
    forget they didn’t hit buy, got too busy or simply had cold feet. A genuine
    follow-up can be advantageous for increasing conversions.

    Which strategies are right for you?

    There are plenty of ways to leverage marketing tactics in your business


    today, so focus on what makes the most sense for your customers and
    business model. Focus first on building a strong foundation, then consider
    venturing into other tactics as your audience grows. These 12 strategies are a
    great place to start.

    Forbes Business Development Council is an invitation-only community for


    sales and biz dev executives. Do I qualify?

    Follow me on Twitter or LinkedIn. Check out my website.

    James Mull

    James Mull is the President and CEO of Mull Group and the Owner and Founder of
    htmull. Read James Mull's full executive profile here.

    Editorial Standards Forbes Accolades

    ADVERTISEMENT

    https://w w w .forbes.com/councils/forbesbusinessdevelopmentcouncil/2022/07/19/12-w ays-to-effectively-market-a-product-or-service/ 5/5

    You might also like