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As a business owner, good and mindful marketing is the absolute key to success. But all marketing is not created equal. Whether you’re offering tangible products to the world, services, or both, you’ll need a marketing strategy that caters efficiently to each—especially since selling products versus selling services are both entirely different beasts. - PowerPoint PPT Presentation
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Marketing
Product Service
Benefits and Challenges
Gabriela Taylor
Author, Entrepreneur and Holistic Business Coach
Good and mindful marketing is the absolute key to success
MARKETING A
PRODUCT
When you are selling a product, you’re selling something that consumers can touch, therefore physical demands apply here that don’t with selling a service.
BENEFITS OF
MARKETING A
PRODUCT
VersatilityCreative Cost Cuts
Imagery Niche
Trust
VERSATILITY
When marketing a book, offer both physical and digital versions
Provide book samples, discounts, coupon codes through email blasts
CREATIVE COST CUTS
Utilize digital media for marketing and advertising as it saves you from eating up front costs
Make use of giveaways for brand exposure. The only cost is the cost of the giveaway to the winner
TRUSTConsumers tend to trust what they know. Being able to give your customers a product they
can see and touch can make all the difference when it comes to ease of marketing successfully
IMAGERY
Show your successful stories to your potential customers
People respond quickly to what they see
NICHE
By being able to target a specific group of customers, you don’t waste precious resources
or dollars on unsuccessful selling strategies
CHALLENGES OF
MARKETING A
PRODUCT
Up Front
CostsDistribution Channels
Storage and Manufacturing
Gambling with
Market Strategy
UP FRONT COSTS
Inventory is costly: investing money into supply will most likely come before the actual sale
Risks are a given when being an entrepreneur, but costly risks can sink your ship fast
DISTRIBUTION CHANNELS
The biggest part of a marketing strategy for selling a product first comes with selling it to
reputable distribution
channels
STORAGE & MANUFACTURING
Show your successful stories to your potential customers
People respond quickly to what they see
GAMBLING WITH
MARKET STRATEGY
Any market strategy is a gamble, but you have to be sure as a product seller that you make your risks small, because when a
marketing strategy fails, you always take a pretty big financial hit in the process
MARKETING A
SERVICE
When you’re marketing a service to the masses, you are selling something completely intangible - you’re selling a relationship.
BENEFITS OF
MARKETING A
SERVICE
Exponentially Lower Costs
Competitive Set Upper hand
Customization
Limitless Reach
Word of Mouth & Repeat Customers
CHALLENGES OF
MARKETING A
SERVICE
Marketing the
Intangible—TrustThe Taboo of New
Diminishing Demand A Bad Rap
Niche
Returns
WHICH ONE IS RIGHT FOR YOU?
Selling a physical product or an untouchable service are pretty balanced when it comes to
the advantages and disadvantages
Only YOU can decide what it takes to make your business successful
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Gabriela Taylor’sI coach, mentor and teach like-minded entrepreneurs worldwide to become the BEST version of themselves and make the most of their TIME, MONEY, ENERGY and INNATE TALENTS.Visit GABRIELATAYLOR.COM
