That’s it ! You have found the idea of product or service that will allow you to increase your turnover, to diversify your clientele, or even to create your own business !! Now you just have to design your offer in order to be able to market it. Here are 5 questions that I advise you to ask yourself in order to carry out your project…
1- Do you know the target of your offer?
It is essential to have clearly identified the characteristics of your target clientele. In BtoC these criteria will be for example: age group, profession, socio-professional category, region or place of residence … and in BtoB you will rather reason in terms of sector of activity, turnover, number of employees, marketing positioning… Knowing that if your target group is too heterogeneous, you may have to segment your target market. Anyway, the most important is to know your target in order to better understand their expectations with regard to your offer. On the other hand, this will prove to be decisive when launching your offer because the success of your communication strategy will depend on your ability to “reach” your potential customers.
2- How will you make yourself known?
Once your offer is available on the market, you have to find a way to get it talked about. This is not easy because today consumers are overwhelmed and overwhelmed with advertising messages. Hence the importance of having correctly defined the “profile” of your customers as this will help you find which are the most suitable communication channels! No need to saturate social networks if you launch a product intended for retirees, in this case, you could for example target the specialized press or some radio stations acclaimed by seniors. Or if your product targets pregnant women, focus your communications budget on acquiring advertising space on the forums they read the most or on magazines intended for them. Knowing that in all cases, it will obviously also go through the purchase of keywords via Google AdWords.
3- How will you convince your customers to buy your product or service?
This step is essential because it is often the answer to this question that will allow you to better understand your customers’ expectations. For your customers to decide to buy your product or service, they must first cross 4 barriers:
- Let them clearly see what solution your offer offers;
- Let your solution meet one of their needs;
- That their need justifies that they pay the price that you offer;
- Let them be sure that YOUR solution is the best among all the others!
So to convince your customers you must be able to overcome these 4 barriers by offering:
- An offer as clear and simple as possible;
- An offer that meets their needs (which you will have previously identified and validated via a market study);
- A price consistent with the quality offered and which takes into account the prices of competitors and the budget that the customer is ready to devote to this type of product / service;
- A value proposition that stands out and provides greater customer satisfaction than all those already in existence.
4- Are you sure you have chosen the right business model?
Before launching your offer, you must define how it will generate sufficient turnover to make your work profitable. In the digital domain, the main economic models are subscription, monetization of traffic or users (via advertising), fee-for-service or Freemium which is one of the most used at the moment. whether on the web or mobile (used for example by Viadeo or Deezer).
There is no model that is better than either in absolute terms, the most important thing is to understand the advantages and disadvantages of each model in order to determine which one is best suited to the type. proposed service. For example, subscribing ensures an annuity that is collected regularly through an active client base, but can dissuade clients who are afraid of signing up. Conversely, fee-for-service payments are more flexible and therefore less dissuasive, but generate more fluctuating income. Freemium is a bit in between because it offers a free version of the product or service and a premium version which is paid for. The free version attracts a lot of customers and the conversion of some of them into premium subscribers generates regular income. However, since the conversion rates vary between 2% and 5%, it is important to acquire a fairly substantial user base with the free version of its service. Acquiring users or traffic is even more vital for websites or mobile apps that live on advertising.
Afterwards, nothing prevents you from also having a hybrid approach by mixing models if this allows you to better respond to your target market, especially if your clientele is fragmented.
5- How will this offer fit into your company’s development strategy?
Finally, a last question that seems important to me is to take a step back from your activity or business and see what impact the launch of this offer will have on the development of your business. If you already have other products and services that are marketed, ask yourself if there is no risk of cannibalization with one of its products. Also think about how you will promote your offer, is it in line with the vision and values of your company? Don’t you risk blurring your brand image? Even if this new offer is part of a strategy of diversification towards a new market, it is important to remember to keep your identity.
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