5 Marketing Tips for New Companies from Successful CEO’s
So you have this stellar product that you’re really excited about. You really believe this is something the world hasn’t witnessed yet. Immediately, you try and market them to just about anyone you know. Despite believing in your product so much, no one seems to feel the same way. Those long hours and sleepless nights have to count for something, right? What gives?
The fact is no matter how great your product or service is, it takes more than just its quality and uniqueness to sell it. You need to take the right steps in order to effectively market your product and ultimately, sell them like hotcakes.
If you run a startup company and are hungry to land the big time, then you’re in luck. We’ve lined up the best ways to market your product or service — with a little help from some of the best in the business.
Here are the most effective marketing tips, as told by the world’s most successful CEO’s.
- Invest on your team
The people you work with have a direct impact on how much of a success (or failure) your business will become. Your employees and co-workers are the backbone of the company. That’s why hiring the right people is one of the first steps you need to take in this highly competitive world.
Taso Du Val, CEO and cofounder of the successful talent network Toptal believes reminds us of the importance of hiring motivated and smart professionals, regardless of what specific job they’ll work on.
Du Val says, “Your people determine your product.” So put in enough time, effort and money in forming the best team. After all, your great product won’t be discovered if not for the people who know how to sell it.
- Know your product from the inside out
Alibaba founder Jack Ma has managed to create an empire that’s boosted countless small businesses and brought them to the top. “Alibaba is an ecosystem that helps small business to grow,” he once said. It has helped startup businesses grow bigger and bigger. However, it’s not just about aiding others. It’s mainly about how well you know the product you’re selling.
Those who have found success working with Alibaba know their products and services from the inside out. Take after this example by being prepared to answer any questions or address any complaints surrounding your product. Apart from the good that it does, what are its weaknesses and areas of opportunity?
Remember: It will be extremely challenging to convince people to buy your item if you can’t even properly sell it to them.
- Cater to your audience
Marketing means knowing who to sell your products and services to, and how. Of course, you’ll need to use different marketing strategies to sell to 12-year olds and 30-year olds. You should remain relevant and relatable to your market at all times.
Apart from knowing how to sell to them, you also need to know which channels to contact your audience. For example, people under 25 are more likely to be visible on Snapchat than people who are over 30 years old. It’s all about being in the right place and the right time, with the right strategy. Always aim to tailor your campaigns to your audience. Otherwise, you’re wasting your precious resources.
In the words of Mark Zuckerberg: “Advertising works most effectively when it’s in line with what people are already trying to do. And people are trying to communicate in a certain way on Facebook – they share information with their friends, they learn about what their friends are doing – so there’s really a whole new opportunity for a new type of advertising model within that.”
- Handle negative feedback with grace
Complaints are inevitable. Someday somewhere, someone is bound to give your products and services a negative feedback. Sadly, even the most established brands fail to take criticism gracefully. That’s why as early as now, it’s best to learn how to handle negative feedback well.
Bill Gates speaks highly of receiving complaints, saying: “Your most unhappy customers are your greatest source of learning,” He is right. Every time an unhappy customer knocks on your door, it means there is always a way to improve your business; there is always room to do more and be better.
So the next time someone criticizes your brand, handle it with grace. Take it as a learning experience and move on.
- Content is still king
You know how we come across products online but the product description is so badly presented, we look away and never come back?
Marketing is all about creating the highest quality content possible. Whether it’s a written copy, an emailer, a social media post or a video endorsement, it’s important to come up with the most informative, engaging and compelling content.
Steve Jobs once said: “Marketing is about values. It’s a complicated and noisy world, and we’re not going to get a chance to get people to remember much about us. No company is. So we have to be really clear about what we want them to know about us.” We couldn’t agree more.