10 Highly Effective Marketing Tactics to Promote a Product

10 Aug · 6 min read

10 Highly Effective Marketing Tactics to Promote a Product

There are many marketing tactics. Good marketing should be relevant to the market you are in. But before we dive into specific tactics that are producing results, it's important to zoom out first to learn more about your specific customers, your products, and which products fit their needs. As e-commerce expert Drew Sanoki explains in his book The Three Multipliers, marketing for e-commerce businesses is truly three-dimensional: sustainable growth is achieved by increasing total purchases per customer, increasing average order value, and increasing total customer purchases.

Ways to market your product

Too often, brands focus solely on attracting as many new customers as possible—the acquisition treadmill. We will use marketing tactics to achieve the desired results: increasing the average order value and increasing the number of orders per client, as well as new clients over time.

How to create repeat buyers 

Your client base is like a garden Loyal repeat customers also add value. And while you might argue that "everything" can affect retention, there are three main levers that brands need to start with: merchandise, customer experience, and marketing. Now we're talking about marketing, so let's take a closer look at it.

1. Introduce a loyalty program 

Loyalty programs can be free or paid, and they offer special benefits to subscribers.

Loyalty programs can also be free and use a points system, where a certain amount of points earns customers various rewards. Loyalty programs are effective because they give shoppers a reason to return to your online store, whether it's redeeming points for a free gift, free shipping, or a percentage of the purchase price.

2. Create an email win-back campaign

Email is a lifeline for active shoppers who have already visited your store and made a purchase. Drew Sanhoki calls this type of return campaign a one-two hit because its goal is to turn new customers into repeat customers. You will then unsubscribe anyone who has been inactive or hasn't opened emails from you in the last 60 days. You don't have to use email for this refund campaign if you don't want to.

3. Email or SMS sign-up coupons

Email marketing is a great way to re-engage both current and potential customers.

4. Release new items on a schedule 

If you plan to offer new products frequently, consider launching products on the same day every week or the same day every month. New releases keep customers coming back to them often.

For curious customers who are big fans of the brand, it's exciting to see what's new each week.

5. Build a subscription model 

While it may not sound like marketing, offering subscriptions to your products is a marketing decision. If your product requires replenishment, you can create a subscription model that automatically renews at the standard schedule.

Alternatively, if your business is not in the delivery business, you can offer your customers a subscription to a set of monthly items.

Bump up average order value to spike revenue

Increasing your average order value will generate more revenue, and it's easier than you think.

6. Use mean, median, and mode to your advantage 

First, let's define terms you probably haven't seen since fourth-grade math.

  • Average: Average order value
  • Median: Average of all order values
  • Mode: The most common order value.

 Some companies offer free shipping, which is slightly more than the cost of their most frequent orders, to increase AOV.

7. Perfect the cross-sell and upsell 

The free shipping offer might not work for your business.

  • Cross-selling is when you offer customers to purchase an additional product.

  • Upselling is when you encourage customers to buy a similar, higher-end product.

Cross-selling and upselling are based on the idea that when you have an attractive product, 10-20% of your customers are willing to spend much more than the average buyer.

Use traditional acquisition methods to increase new customers 

This is how we will attract new customers to buy your products. Whichever method you choose, you'll want to target your marketing to higher-spending customers.

8. Start with paid marketing to find your footing 

Paid social media marketing and influencer marketing fall into that bucket. Have you ever seen someone on social media following a post about a product they liked and then offering a unique discount code to their followers? The influencer will then talk about the product on their account a set number of times. You can also go the traditional route and pay for a social media platform such as Facebook, Instagram or even Pinterest to show your ads to potential customers.

9. Build organic flywheels for acquisition

This means a long game with channels like content marketing and SEO. For example, Four Sigmatic, a company that specializes in accident-free coffee, has invested a lot of time in customer education.

10. Convert more of the traffic you have

Chances are you already have a lot of traffic coming into your store, so instead of focusing on driving more traffic, you need to go deeper into converting the traffic you currently have. Think of it this way: you use a funnel to fill a hand soap container, but the funnel has a few holes on the side, causing a lot of soap to leak out.

Great marketing sells more products

Sounds deceptively simple.

The article was first published here

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