Learning how to market a product to your existing customers can be tricky. There are numerous marketing strategies available, but the best methods are tailored to your product and your business strategy.
In addition, good marketing must be tailored to the target market. Choose your marketing channels and methods based on educated predictions about your clients, then tweak as the data comes in. But, before we get into the precise strategies that yield results, we must zoom out a bit.
First, you will want to learn more about your unique customers and your products. In addition, you need to know which products are best suited to their needs. This will assist you in developing a marketing strategy that will lead you in the future.
According to experts, eCommerce marketing is three-dimensional:
- Increase the total number of purchases per customer.
- Raise the average order value.
- Grow the total number of customers, leading to sustainable growth.
Marketing that does not address all three of these factors will not scale. In learning how to market a product, here are five strategies to begin with:
1. Market Your Product in a Variety of Ways
The acquisition treadmill is often used by brands to focus entirely on obtaining as many new consumers as possible. However, acquisition expenses mount up quickly. Therefore, if buyers just buy one item and never return, those costs might be difficult to overcome.
The Three Multiplier Framework is centered on improving the profitability of each hard-won customer. This strategy utilizes multiple marketing methods to achieve results. Rather than acting in isolation, marketing activities work together to promote the overall strategy.
Here are some marketing ideas to consider:
- Create a customer loyalty program.
- Create an email re-engagement campaign.
- Offer coupons for signing up via email or SMS.
- Release new things regularly.
- Construct a subscription model.
- Make the most of the mean, median, and mode.
- Cross-sell and upsell techniques should be perfected.
- To get your foothold, start with paid promotion.
- Construct organic acquisition flywheels.
- Increase the conversion rate of the traffic you already have.
2. Market Your Product to Get Repeat Customers
Your clientele is similar to a garden. Taking care of your customers increases both the value they receive and that which returns to your company.
For example, a consumer may get a lot of value from your flagship product. However, they might receive even more by purchasing it again. Furthermore, purchasing more from your entire product line may make them even happier.
Customers who are loyal to you and buy from you, again and again, are extremely valuable to your business. You’ll no longer need to spend money to attract the customer for a second purchase. In addition, they may promote your shop to others with similar tastes.
However, repeat purchases are not free. You’ll need to continue to invest strategically in the proper areas. And, while everything can influence retention, there are three major levers businesses should focus on.
3. Thoughtful Merchandising
Customers are looking for products that are tailored to their needs. In addition, they want items that will match or exceed their expectations in terms of quality. Therefore, consider placing one of your bestselling products front and center on your website.
Customers who buy that product first are more likely to buy it again. Additionally, they’re more likely to search for other similar products to include in their next purchase.
4. Excellent Customer Service
Amazing customer service does not have to be expensive, but it should include unexpected extras. This might be as easy as being present when your consumers require assistance or providing free returns on any item.
5. Targeted Marketing
To attract the right customers at the right moment, you’ll need targeted marketing strategies. Email campaigns, loyalty programs, and lifecycle marketing are all tactics you might implement. These will help bring in new customers and retain current ones, giving them a reason to keep buying from you.
Conclusions
A well-thought-out strategic marketing plan is essential to any successful business and will take your company to the next level. Exceptional marketing techniques will help you acquire new customers, however, it’s customer retention that many companies forget about. Before setting out to get more customers, you must market your products to re-engage customers who have already purchased from you.
Image Credit: Suzy Hazelwood; Pexels; Thank you!
