When it comes to new businesses and their products, nothing can kill an idea quicker than an ineffective marketing strategy. How you market your product is essential to your success. You want to properly determine what makes your company stand out from the rest of the pack and then get that word out to the public as soon as possible. That being said, it is very helpful to learn from some of the best in the business who have found tremendous success and see what worked for them and what didn’t and see how you can apply this to your own company. Here are some great marketing tips from some of the most successful CEOs.
Identify and Serve Your Audience
Founder and CEO of Facebook, Mark Zuckerberg said that “advertising works most effectively when it’s in line with what people are already trying to do.” Whenever you are planning to launch a new product, it is important to understand the audience you are looking to target as well as how you are going to reach them. You’re not going to use the same marketing tactic for 15-year-old boys that you would for 30-year-old women. On top of that, you have to know what kinds of advertising will appeal best to your target audience. For example, advertising through Snapchat would be more effective for people aged 25 and under.
Invest in Your Team
According to Taso Du Val who is the CEO and co-founder of Toptal, “Your people determine your product.” He stresses the importance of investing in intelligent and driven people, regardless of the specific job. So a great product cannot go anywhere without great people putting work into it and promoting it. You want to find and invest in people who are proactive about their work and are always thinking one step ahead of the future of the product.
Elon Musk of Tesla has said that “branding is just a perception, and perception will match reality over time.” Pricing has the potential of being one of the biggest ways to influence this perception. Pricing is going to be on the most powerful tools in your arsenal regarding marketing and a lot of times people tend to put it on the backburner. When determining prices, you want to think about the kind of message you are sending by pricing your product at any particular level. If you price your product high, it gives the impression that it is of premium quality, but you also have the potential of selling fewer units. Setting a low price has the power to help you break into a particular market and get a leg up on the competition, but keep in mind this can also lead to low profitability over time.
Produce High-Quality Content
In today’s market, content is one of the most effective ways of getting your company noticed. Whether it is through blogs or social media, you will want to use content to market your company and its’ product. With so many people realizing the importance of content when it comes to marketing, you have to make sure that what you put out is of the highest quality to set you apart from the competition. 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.” With that in mind, you want to be sure that the content you are putting out is engaging to your audience and will get them excited about your product.