During my first marketing gig out of graduate school, I was interning as a Market Research Analyst in a startup. Fortunately, there were many cognitive reasons to assert that I took on the big bad world with a classy edge. I got accustomed to the proven marketing practices. From mass media marketing to advertising, I always had a razor-sharp radar to come up with powerful marketing tips. From trouble getting to issues resolving, I have seen it all. It is all about sailing over the hurdles when it comes to entrepreneurship in general and marketing in particular. Here are a few powerful marketing tips to boost sales:
- Smart Pricing: It is no exaggeration when Benjamin Franklin said, “Even peace may be purchased at too high a price.” Unless and until you are a tech giant such as Apple, you cannot price your products insanely high. Customers compare your products, prices and features. If they find anything fishy, they ignore your brand. Bata generally comes with psychological pricing. For example, a pair of shoes is priced at Rs 999/ and not at Rs 1000/. Customers get delighted as Bata comes with the tag-line, “You pay only a three-digit amount and not a four-digit amount.” ITC- Indian Tobacco Company seems to have mastered the so-called ‘Smart Pricing.’ “For every classmate notebook you purchase, ITC contributes two rupees for the poor” is written on the cover page of the notebooks. This is emotional pricing.
- Advertising: Advertising is inseparable from marketing. When I mention about advertising, it should be a clutter breaker and a crowd puller. Advertisements should impress and create a positive impact on customers’ minds. You can take a cue from SONY’s XPERIA Z3 advertisement “I can survive under water.”
- USP: Internet marketing has changed many things. However, one thing remained and remains unchanged. It is USP – Unique Selling Proposition. Let me explain this with an example. Recently, Amazon came up with its amazing product Amazon Dash- Shopping made easy. The Amazon Dash Barcode Scanner was announced in April 2014. It is a Wi-Fi connected device that allows users to build a shopping list by scanning bar codes and saying product names out loud. It connects directly with Amazon Fresh, the company’s online grocery delivery service. The website for Amazon Dash highlights benefits such as “never forget an item again” and suggests keeping the device on your kitchen counter or refrigerator so that every member of the family can add items to your grocery list (source: Wikipedia). Amazon carved a niche for itself and ‘Customer service’ has always been its USP. Following the same train of thoughts, your USP should be unique.
- Quality: Quality is the hallmark of everything. What do I mean by quality? Is it only about ISO standards and BIS standards? No! Quality is about upholding all that is right and genuine. The return of Nestlé’s Maggie noodles into Indian market is a classic example. Remember, quality is the king!
- Content marketing: This is indispensable. Educated customers love reading insightful content. If your R&D team is educated, it becomes easy to tap educated customers. If you are an influencer in your own niche, sales will undoubtedly increase. Just let your creative juices flow and let your content walk the talk.
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