How do you make your product stand out from the crowd?
Why should a customer choose your product over anyone else’s? It’s a question that all businesses have to ponder when they are launching a new product. Get this right and you’ll clean up in your corner of the market and win business from your rivals. Get it wrong and you’ll be doomed before you start.
So, how can you come to the right answer for your products and your business? Well, once you’ve got an idea for a product there are three key areas to consider.
The process starts right at the very beginning. When you’re coming up with a new product you need to consider what’s already out there on the market. Your product should aim to solve a problem or fill a gap in that market and this is key moving forwards. Put simply, standing out from the crowd is all about showing how you’re different from those around you. What do you do differently and/or better?
The research stage should also involve a thorough analysis of your target customer. Who are they and, specifically, what do they want? What problems are they trying to solve? If your problem can directly address a common issue, then you’ve got a real chance of standing out.
Research shouldn’t stop when you’ve identified a product either, far from it. Keep delving into the data to discover what does and doesn’t work when it comes to your product.
Packaging and display
Depending on what your product is, it might well sit on the shelf directly next to your rival’s offering. That’s where you need to think long and hard about packaging. How your product looks is important and packaging is your chance to convey your branding and offer something that looks new and fresh. The latest flexible packaging printing innovations ensure that you can do a lot of work here to push your product out from the pack.
Consider too where your product will be sold and how it will be displayed. Investing in some point-of-sale displays for your products can make sure your target customer pays attention and easily gets over the message that your product is something new and exciting. Business 2 Community offers ten top design tips to take on board for this.
The final piece of the puzzle comes with the promotion. Not many people are going to know about your product if you don’t reach out and tell them about it. That means you need a thorough marketing strategy – either with an in-house team or external experts from an agency who can do this for you.
Your strategy should put to use all of that research knowledge you’ve accrued about your competitors and rivals and plot a path to deliver a compelling message to the right people. That should include traditional methods – broadcast advertising and posters – and newer digital formats – harnessing the power of social media and email marketing, for example. A good marketing strategy is your way of making a big noise and, by doing that, you stand a chance of being heard above the crowd.