How do I market my product? Part IV

There is a story that I like to quote a lot to clients and to friends and that is about how in the late 19th century the head of the United States Patent Office recommended that the office be closed as everything that could possibly be invented, had already had. Fortunately cooler heads prevailed. But as we all know, there are hundreds if not thousands of new products coming onto the market on a regular basis. The simple law of numbers tells us that most of these products will fade into obscurity and never become anything.

So how do you avoid having your product become one of the vast majority. Well for one thing, use your messaging to accomplish this. If there is one thing I find amazing, it is how many entrepreneurs believe that the benefits of their product or service is so self evident that no explanation is required. That is not only arrogant but it is stupid. Let me tell you that if think the benefits of your product are so obvious you will not see the bus that hits you and destroys your product.

First and foremost it is essential that you state clearly what they benefits are for your product and what they mean for your target audience. Look at Netflix for example. When they emerged they had a very simple statement of benefit. They mail you movies that you have selected, you can keep them as long as you want and when you send them back, after watching them of course, you get the next movie on your list. No trips to the video store, no late fees, very easy to grasp. What is more important is that Netflix did a fantastic job of telling you why they were better than the competition on the market and why you subscribe to their service. Now they have changed their market and knocked Blockbuster back on their heels.

Secondly, you need to understand what you want your product to say to the target audience. To be honest if you decide to say that you are offering a revolutionary product that will change the world then you had also better get out the no-doze because that is the lame reasoning of every product that can not decide how to brand themselves. You need to offer your target market a declarative statement that clearly evokes what you will do. For example, "we will make better butter because we will refine the manufacturing process and make it sweeter, softer and longer lasting in hot weather." Not, "we are revolutionizing butter."

Third, say something you can believe in. There is nothing more annoying than a startup who this week claims to be this one week and then the next week decides they are something else. When you tell the market you don't know what you are you destroy any faith in your product. Also, you send a clear signal of confusion and a lack of an articulate focus to your customer.

Last, make sure marketing is in the drivers seat when it comes to articulating the product. Other groups, especially senior management will be inclined to offer reams of suggestions which they will naturally want to see followed. However it is essential that you keep control of the marketing process within marketing. Input is always welcome of course, but marketing tends to go astray when dozens of executives stick their noses in. Please pardon the cliche but too many chefs spoil the pot.

There are many ways to differentiate your product and some of it may result in trial and error. Don't be afraid to tinker but make sure that you know what you want to say before you want to say it. Form your ideas and hit the market with a developed and well thought out plan and you will succeed.