What to Know Before Marketing Your Product or Service

Marketing a product or service is a scary proposition for most of us. There are so many avenues available to us today. The traditional media have been joined (and to some extent, supplanted) by the new world of websites, email, blogs and podcasts. But the basic principles of effective marketing still hold true.

As you launch a new product or service, or begin a new campaign of any kind, there are a number of factors to consider. You should ask yourself some questions to get a firm grasp on exactly what you're offering, what the competition is offering, and why your customer should choose you to meet their needs.

Below are my top ten things to ask yourself before marketing your product or service.

1. What are the features and benefits of your product or service? (Features describe the product. Benefits tell what it will do for the customer. Benefits are what matter most to your prospective customer.)
2. Exactly what is it that the customer receives when buying this product? (In the case of a service, the customer may receive a report, or a freshly cut lawn, or advice on a specific business issue.)
3. How does the product differ from similar, competing products?
4. Which of these differences matter most to your target audience? Why?
5. What does this product do or have that its competition does not? This differs from question three, in that it asks, "How does this product bring something new or better to the table?"
6. If there are no differences with competing products, what attributes should be stressed? (Note: It's possible that the main benefit of your product is simply the fact that it has your company's good name on it.)
7. How is this product positioned in terms of price? A good value? Expensive? And expensive is not always a bad thing.
8. Who would use this product? What does a typical customer look like? What do they care about? What are their needs...dreams...fears?
9. If customers purchased this product for just one reason, what would that be?
10. What service and support exist for this product?

Effective marketing doesn't have to be rocket science. It just takes a clear understanding of what you're selling and why anyone should care. Find the one or two things that make your product or service unique and stick to that simple message in all of your marketing efforts. Once you truly know your product, you'll have a powerful advantage on your competition.

(Next week: What you need to know before hiring a copywriter.)

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