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Posted Friday, May31, 2013
You just invented the best product in the world. What now? You have to tell people about it. Create product awareness and generate demand by advertising your product.
Advertising does not necessarily mean TV, radio, or print (magazines, newspapers, billboards). Advertising is simply the act of calling attention to your product or service. It could mean hiring someone in a sandwich suit to pass out flyers or good old fashioned cold calling. Do not limit yourself. Mailers are also an effective way to attract local business. Send flyers or brochures to potential customers. The more people that know about your product, the more business you will generate.
However you decide to advertise, running a successful advertising campaign is hard work. You might want to hire a marketing firm to create an ad campaign for you.
Your business may have limited resources or may not want to hire a marketing firm for whatever reason. In either case, your company will be required to do the legwork itself. Here is a breakdown of what needs to be done to execute a successful advertising campaign:
▪ Evaluate the Product
▪ Identify the Challenges
▪ Come Up With a Concept
Evaluate the Product
What is special about your product? What are its strongest features? What is your target demographic? What does your brand represent? How do you want to be viewed? What are competitors doing to promote their product? Can you take anything away from their success? These are questions you should be asking yourself during the evaluation phase.
Identify the Challenges
What is the best way to get your message to your customer? If not established, how will you introduce your brand to the public? How competitive is your market? Are there health or safety concerns about your product? These are questions you should be asking yourself when identifying challenges.
Come Up With a Concept
Come up with an idea to not only spread your message, but also have your brand stuck in people’s heads. There are tons of ads that are produced each year, but we only remember a handful of them.
A good slogan is key. “Just Do It” Nike. “The Ultimate Driving Machine” BMW. “Some Things Money Can’t Buy. For Everything Else There’s MasterCard.”
What does your target audience want? How does this product meet those needs? How can you differentiate yourself from the competition?
Many companies are running marketing campaigns that have nothing to do with the product itself, but rather focus on promoting the company brand with a slogan at the end. Geico is renowned for using this technique. The commercials are more like shorts with product placement than traditional television commercials. They work because of the strong slogans at the end.
Coming up with a novel concept is not easy. You should at the very least assign a team to brainstorm ideas.