Marketing a new product can be difficult. There are press releases to write, Internet marketing strategies to research, and many other things to consider when marketing a new product. Crowdbuying is a great way to let people know about your product and drive sales. It’s no secret that people love it very much. In fact, people who love to shop sometimes buy things they don’t need, just to take advantage of a good deal.
offer a good deal
Group shopping websites like Living Social and Groupon are becoming an increasingly popular option. These sites offer customers special prices for products, services, and even travel packages. Members of these sites can choose to receive email alerts or download a mobile app that will notify them of offers they may be interested in based on their preferences.
Marketing a new product using these sites can cost you, but it’s also an opportunity to show customers what you’re worth with little risk to them. When your product is listed on a group buying site, all site users in your specified area are notified. Customers who are usually not interested in your product can find it when they check their email online or scroll through their smartphone.
mouth to mouth
Group offers have the added benefit of encouraging the spread of your product on the streets. A college student, for example, is scanning her phone and sees an ad for her custom-made ties. She decides to test your product, since Father’s Day is coming up and you’re offering $50 worth of ties for $25. When she receives the product, she is impressed and tells her friends about her website. If two of her friends buy ties for $50, she will have made a profit of $75. Your satisfied customer has taken some of the legwork out of your internet marketing campaign.
Offers often have a timeline, which puts members under pressure to buy. These sites also offer customers the chance to get their offer for free, if a certain number of their friends buy the product during the promotion. The ads are equipped with social buttons so that people can share your offer through text messages, social networks and email. When marketing a new product, social media is vital. With group buying, your customers have an incentive to take part in that social media promotion for you.
Product placement
Product placement is also an important part of marketing a new product. Group selling allows you to customize your offer by market. In markets that tend to spend more, using the example above, it might be better to run a Buy 3 Ties, Get Free Tie promotion. This way, customers still get a deal, but you make a bigger profit. For example, if ties cost $50 each, it will only cost you $50 to make $150. This way you can earn more than the previous approach before the customer shares your offer online.
Marketing a new product using group buying sites is a great way to increase your profits and customer base. Take this approach and save on assembling a marketing team, writing a press release, or manually promoting your product online. Try it and be surprised with the results.