Marketing has a broad definition that, when well thought out can deliver extraordinary results. As a hardware startup, your marketing is as important as the product itself. Well-known companies have used misfired marketing material which has backfired countless times. So, in order to avoid this here’s basic advice to help you create a great marketing plan.
Understanding your market
It goes without saying, but, understanding your market is absolutely crucial. For example, if your product is in the med-tech space, would you be positioning yourself the same as a fashion brand? Absurd! Of course not. Defining your market is a good way to begin. Look at your competitors, see how they are positioned in the market, this will give you a better understanding of how you can either replicate or differentiate yourself from everyone else.
Who is your customer?
Believe it or not, many founders are so caught up in producing the product, they often lose sight of who it’s for. Define your customer, who are they? What do they like? Why do they want your product? What are they missing? Etc.. Knowing these questions will help you create a more efficient marketing strategy to target your customers.
Your customer is and always will be the person you’re trying to please/target. If your customer is a luxury brand shopper, and you’re marketing in the local market, the customer won’t notice your product. Go where your customers are. Don’t assume, put in the effort of researching your customers.
When doing your customer analysis, take into consideration the following attributes:
- Age
- Location
- Gender
- Income level
- Education level
- Marital or family status
- Occupation
- Ethnic background
Once you’re able to profile your customers, you can begin tailoring your marketing efforts toward them. For example, your customer is aged between 18 – 35, who are located in London (UK), in which 60/30% of your customers are male/female and have university degrees, etc… You can begin distinguishing how you will market your product. Instead of wasting time and money marketing to the wrong audience. See below a screenshot from Google Analytics.
Unique selling proposition (USP)
What is unique about your product? If you’re selling a product to a customer then why do they need it? A customer must be able to distinguish your product’s uniqueness from a competitor’s. There is no bypassing this question and requires a large amount of attention.
For example, the smartphone market is dominated by companies such as Apple, Samsung, Huawei, etc… finding room in this market is next to impossible. However, what is it about YOUR phone? YOUR product? That stands out.
Perhaps, there is a uniqueness to your product which differentiates you from your competitors. This is what you should be marketing, not a ‘same old product’ but, a unique product that consumers want/need which your competitors can not provide.
Test it, tweak it
Once you have defined your product’s selling point. Now validate your marketing plan. Test it and see what happens. Listen to how your customers are buying. If you are receiving negative feedback from your marketing plan then tweak it or change it completely. It may be you are marketing to the wrong audience.
A strong marketing plan is crucial to your company’s survival. You could have an excellent well-made product that fulfills the needs of your customers. But without a good marketing plan, your product is as good as dead. Don’t be afraid to invest time into marketing, find the right market, and push it.
Written by: Frederick Bravey
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