Marketing: Product Marketing
Posted Sep 25, 2004 - 05:22 AM
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Is the market you are trying to sell to saturated? Most likely not.
Many new business owners feel overwhelmed about what product to sell. once they finally choose a product they start to notice every Tom, Dick, and Harry trying to sell the same exact product. Is the market over saturated? Probably not considering hundreds of thousands of different people from all walks of life log on to the internet for their first time everyday. Most of them never knew the x10.com whole home surveillance camera ever existed anyway until they closed their browser window at the end of a surfing session to find the ever so popular affiliate pop behind window . X10 did not necessarily have a product everybody on the planet needed but it did offer a huge piece of mind by having the new camera owners house looked over and even recorded if they wanted to for $79.99
The X10 marketing team didn’t stop at just a simple pop behind they used many creative techniques for selling these tiny cameras. The team developed contests every month that would let people enter for a chance to win a $500 gift certificate. All they had to do was submit an idea for how they use the companies products related to the theme of the contest and then email friends and family telling them to vote. For example In December the theme was “What’s the best way to use X10 products for Christmas?” People who visited the website would read all the different ideas and vote on the one they liked the best and this determined what idea brought home the $500 gift certificate. Many voters bought the products just because they wanted to implement the different ideas they were reading.
The company looking to introduce complimentary products to the camera outfitted it with night vision .Now they had a product add on that cost them about $100 to purchase and sold for $239 that’s $139 per unit just for brainstorming and adding something to the product that perceives value. Units sold at a rate of about 12 a day on average for a profit of about $1668 more a day just for adding something customers want to an existing product.
The current promotion on the X10 site is a pop-up entry Form to win a complete home surveillance system. Just enter your name and email address and you have a chance to win a complete automated system. The company gives away one of these $450 systems every two weeks but on the other hand now has hundreds of thousands prospects they can email with more information following up with them over and over by email auto responder until they purchase.
The lesson learned here is to feel passionate about what you sell. Try it out ,use it, test it, drive the wheels off it. More importantly be creative in your marketing .Creativity rules the marketing world no doubt about it. Take out a notebook and brainstorm a marketing campaign so powerful that people who don’t even need the product will be pulling out credit cards.
To Your Success,
Christophor Strobel
Christophor Strobel offers Home Business Tips, a fresh and informative newsletter dedicated to supporting people like You! If you are looking for the best rated home business opportunities, the latest time saving tools and helpful support. Email me now and get a free subscription at mailto:ChristophorStrobel@getresponse.com |
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