Monday, September 30, 2013

What’s the Problem?

It’s more difficult to market a product effectively today because it’s harder than ever to get the attention of the markets you hope to serve. Today, smart innovators are considering how they’ll market their new products even before the first prototypes are available for testing.

One way to do that is to highlight the problem you solve.

As I wrote earlier this year in an article for Scotsman Guide, there are only four reasons most businesses make a purchase decision. Reason No. 2 is to put an end to an immediate source of pain, financial or otherwise. Most successful innovations provide such a solution, though sometimes a new product is simply better at providing the same old solution. In either case, knowing in advance the problem you solve and exactly how important this is to your prospects is a vital first step to planning your marketing attack.

When highlighting the problem you solve, be as specific as possible. The more you know about the pain you alleviate, the more likely you’ll be prepared to sell this benefit to your prospects when the product is ready to launch. Find more in my feature article on this topic on Issuu and share it if you think it will help others.

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