September 7, 2020
There are many ways to marketing a product and promoting your brand. Choosing the right strategy and appropriate channels will help gain much-needed traction. In this blog, we are going to look at the different channel types. Additionally, examples in each channel will be discussed.
Product marketing does not have a single right channel. Moreover, any good marketing strategy requires a combination of multiple channels to succeed. The choice should be based on the target group, the product offered, and the market competition. Strategically promote the product by targeting the right customers to saves a lot of time and money.
Channels can be broadly classified into direct and indirect channels. Direct channels are those where the product is sold directly by the company. Indirect channels are channels where the product is sold on behalf of the company. Let us look at some examples to better understand the types of channels.
It is the most common form of marketing. Direct Advertising is when a company reaches out to its potential customers. While doing so they raise awareness about their products. The briliance of direct advertising is that, it convinces the customer that the product is an essential. Here are a few examples.
A company website is essential. This is most likely the first point of contact for a potential customer that wants to learn more about the product. Therefore, keep the website clean and simple. As the interface of a website facilitates building credibility as a reputed brand. It can also serve as a platform to provide services to visitors. Having a website boosts product advertising by providing accurate and detailed information. Moreover, the advantages of a website are plenty,
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The whole world has turned digital. Digital marketing is a good place to target a large percentage of customers, marketing your product here in particular has a far reach. If you want to create brand awareness quick and easy this is the place to be.
Offer an incentive to try the product, it is a great way to gain customers. Having the feel of the product helps customer decisions based on the experience. Make your product unique, this will bring back the customer for more. Make sure the customer opts the product, for the ease and feel it provides and not just as a solution to a problem.
Having a sales team that directly markets the product and creates brand awareness is equally important. The products information gap is bridged while encouraging the customer to try the product. Although it is expensive to have marketing personnel, it will be advantageous for products that are hard to understand.
In contrast to direct marketing, these channels are not common in a startup environment. However, if the potential of these channels could be tapped, it will prove beneficial for the growth of a company.
Partnering is with another product is a simple strategy. Look for companies that have a similar customer base, make sure your product adds value to the potential partner company.
These channels apply to physical products. This is a lucrative approach but a tough nut to crack.
VAR is when your company adds value to an existing company, it could be either a feature or a service. The final product is resold as an integrated product, a brand-new product or as a white-label product . Product marketing is not done through this channel, but if you manage to bag and maintain a reseller making profits will be second nature.
