Marketing Your Product – How will you get noticed?
In an upsidedown world where trust in traditional marketing is fading, brands are looking at other ways to get their products boosted on to the marketplace whilst retaining their brand reputation.
Influencer marketing is definitely a hot topic in digital marketing right now and as more and more businesses jump on the bandwagon, it’s only going to get bigger – especially in the current lockdown market of 2020.
But despite this, Influencer marketing it isn’t just as simple as sending your product to some of the most popular people on Instagram and hoping for the best. You need to choose wisely who you contact to promote your product – someone influential or who has a sizeable following within a specific niche and good levels of engagement within that following.
Types of influencers that we connect with
Celebrity Influencers – often the hardest to get a hold of and one of the most expensive to work with due to the potential reach you could achieve with the followers that they have. However you’re more than likely going through an agent to get to them and sometimes, credibility can be lost if the consumer feels like the celeb is just “selling out” for cash and isn’t really invested in the product themselves.
Authority Influencers – these are people who have authority in their field or specialism. So if your product is for a particular target audience/consumer market, then choosing a respected authoritative figure in that field to influence peoples buying decision is a great option.
Micro influencers – these are the Joe Public of influencers! Its anyone with a social account that can make a recommendation to others in influence a buying pattern! Its often much cheaper too (like the cost of letting the influencer keep your product that they are trying out and recommending). It also gives you the opportunity to scale up your marketing efforts too.
Influencer marketing is a reasonably new form of marketing in which focus is placed on influential people rather than the target market as a whole, generally on social media. Influencer marketing identifies the individuals who have influence over your potential customers and invests its marketing activities around these influencers.
So will this be a marketing strategy that you will invest in?
With a new product it is always more difficult to get yourself in front of the right people. Ideas Portal have the directory setup so that you can get your product in front of investors, but what about getting your product in front of consumers?
If you’re interested in jumping on board the influencer train but are worried about the longevity of this marketing technique, don’t be. It is quite simply one of the most lucrative markets to invest your marketing budget into right now. Micro-influencer marketing can be a way to benefit from influencer marketing without a high initial investment too.
Consider a person who has Better engagement with their followers. While it’s tempting to use follower counts as your main target, a person’s followers are worthless if they aren’t engaging with the influencers posts. Micro-influencers usually have a much higher level of engagement than bigger influencers, often due to the fact they have the time to engage with their followers and are still attempting to build their audience too.
The Business Show
So, it’s been around half a year since the pandemic struck and the business world has been transformed. Businesses and their plans have been put back, gone altogether or transformed into something new.
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Is there any point in protecting my invention if patent enforcement is unaffordable?
Patent enforcement is often a big concern for a lone inventor. I often hear “Why patent if you cannot enforce it?” Patents are expensive, there is no doubt about it. If you require a patent in the UK, the USA, a few large European countries and maybe somewhere in Asia (by no means widespread global coverage) then you are looking at bills which will total well in excess of £100,000.
Free Data Event
Firstly, do you know what data is? Essentially, data is information which is stored for multiple uses. For businesses this could include details of customers and their orders.
Data is therefore valuable for businesses to help them to understand what’s happening to their business. An example of this would be for a business to help understand the performance of a certain product or service, or maybe even of a salesperson.
Read More Gated content on a website
Gated content is any content that your visitors can access only after providing their information. In most cases, this means a name and email address so you can be added to a further marketing list. Some websites have played with the idea of requiring social media follows or likes in exchange for content, which is a viable, but less a much utilised strategy than one that collect information for direct marketing.
How companies have adapted during the COVID19 Crisis
When the situation changes, and a business finds that suddenly its old business models no longer work, the successful ones will innovate and adapt to the situation around it. In many aspects, this is the definition of an innovative business and highlights the skillset of a successful entrepreneur from those that are less successful. When the environment changes, it closes some lucrative avenues that were open to the company, but (if you look hard enough) new ones present themselves.
A Good Time to Innovate?
I read an article a few weeks ago in The Daily Telegraph which claimed that during the lockdown patent attorneys are reporting that they have never been busier with a surge in new applications being written. I originally found this somewhat surprising, but then I thought about why this might be..
Who’s visiting my website?
How many times do we check Google Analytics to see we’ve had quite a few visitors but know absolutely nothing about them? The suggestive route is to have conversion forms all around the website, that way the visitor will be compelled to leave us their details. But, when was the last you filled out one of these? I bet not for ages and that is exactly the problem.
Trading Online – is it easier than you think?
Where Britons spend their money is also changing dramatically. Every year more and more of the spend occurs online and less and less in the high street shops. If you have products or services to sell and you do not currently offer the opportunity for your customers to purchase online, then you may be missing an opportunity. It used to be devilishly difficult to set-up an online shop and if this is the reason that you haven’t yet then ACT NOW. Even if you have no technical knowledge, using one of the off-the-shelf packages it is possible to have an online shop up and running in less than an hour.
SEO for Startups
Do you ever wonder why people never visit your website? You’ve got an awesome product or service but no one knows about you. Why does no one come?