To stimulate demand, consider the following:
- Free Version of the Product or Tool: During an advertising campaign, provide access to a test version or offer samples. In return, collect client contacts and ask for a review or a mention on social media.
- Affiliate Marketing: Promote yourself through blogger accounts and niche websites. Engage opinion leaders and experts in your platforms, events, and webinars.
- Content: Ensure your publications are both informative and appealing to the audience. Utilize current trends, publish research, and find your unique presentation style.
- Email Campaigns: Think about the content and frequency of your newsletters, monitor email open rates, and conversion percentages. Consider everything, from the email subject to its length.
- Look-a-like Targeting: Attract a similar audience. Think about which product features will appeal to customers from different socio-demographic categories.
- Lead Scoring: Evaluating leads involves monitoring behavior and ranking users. By doing so, you can identify the most promising group of clients and strategize ways to convert them into buyers.
To ensure long-term success, continually adapt to changes in the market and refine strategies based on feedback and evolving consumer preferences.
How to Increase Demand If the product is already on the market, a company can:
- Attract new customers. Methods to stimulate demand for a new product will work, as well as SEO, contextual, and targeted advertising.
- Encourage existing buyers. Retargeting, email campaigns, personalized offers, and loyalty programs are suitable. Customers will purchase more of the product and share their positive experiences with acquaintances. Encouraging a consumer to repurchase is much more profitable than attracting a new customer. This way, we can quickly navigate the sales funnel stages that require significant expenditures. For instance, awareness and interest: the client already knows about our product and has purchased it. Thus, we can focus on increasing the clients' desire to buy the product.
When I first started working, the question, "Why is it so expensive?" used to stump me. However, the objection "it's expensive" in internet marketing is always about undelivered value. If you just state a price, selling becomes challenging. Online, people buy from people: trust is the foundation, which is why personal brand development or a company's multi-branding is so prevalent. It makes selling easier. When we communicate the high value of a product through content, its cost becomes secondary.