Small Business Marketing
Is marketing hi-tech products different from marketing low-tech products. You bet! Here's why.
Marketing strategies remain the same, regardless of the product you are selling, right?
Wrong! The most effective marketing strategies are designed around the type of product that is being sold, especially when that product is a costly and complicated piece of high-tech merchandise.
The process of marketing technology products is unique because the products themselves are unlike anything else on the market. When compared to other products, technology products tend to be pricey and complicated - two factors that play a significant role in shaping the way they need to be represented to consumers. Consequently, a strategy for marketing technology products needs to do one or more of the following things . . .
Differentiate the Product
Technology products are a dime a dozen these days. As soon as one manufacturer comes out with a product, a dozen similar products spring up within months. But regardless of whether you are the original producer or a late-entry to the marketplace, it is important for your marketing efforts to somehow differentiate your product from the rest of the pack. Does your product do more, cost less, or have more options? If so, you need to find a way to disseminate that information to consumers. Otherwise, your product will likely become lost in an increasingly crowded product field.
Compared to other kinds of products, technology is expensive and the consumer takes a financial risk when he settles on a specific piece of merchandise. A good marketing strategy can mitigate the consumer's sense of risk by reinforcing the purchasing decision itself. As much as possible, assure the buyer that a decision to purchase your product is the right decision. Other products may vie for your customer's attention, but if your marketing strategy convinces him that your technology is the best value for his dollar, you gain an edge over all of your competitors.
Maintain a Customer Focus
Technology merchants have a reputation for focusing too much on their products and not enough on their customers. The bias of putting products over customers sometimes finds its way into technology marketing strategies. Sure, your buyers need to know about your products. But they won't buy your products based on the length of its spec sheet. Instead, they will buy it based on their perception of the product's ability to integrate with their life. What can your product do for them? How will their life change as a result of buying your product? If your marketing strategy can't answer these questions for the average buyer, your product may be dead in the water.
Emphasize Real World Results
Your tech product is the result of countless hours of scientific and technical development. However, demonstrations of your technical prowess will do little to impress most customers. Except for a few die hards, most customers won't understand the technological intricacies of their purchase. You should provide all of your customers with product specs, but if your marketing campaign is dominated by insider jargon it will fall short of its goals. On the other hand, a marketing campaign that emphasizes the real world results for end-users has a much greater chance of success because it plainly communicates the actual impact of the purchase.
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