Make Your New Product Stand Out

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Make your product stand out from the crowd. (Joe the Goat Farmer, Flickr)

20 Dec. 2018. Every business is going to enter a competitive market, regardless of what industry you’re in. For companies developing and selling new products, it’s often very difficult to stand out from the crowd and make people buy your offering over rival companies.

With that being said, there are a few strategies you can implement to make your new product stand out from the crowd and generate more excitement from consumers.

Provide a unique selling point

For your product to stand out, there need to be something about it that makes it a little bit unique. This is your USP, it pushes people towards your product instead of other similar ones on the market. Look at the technology industry for inspiration here, there are plenty of products that implement a USP. Businesses are looking for companies offering paryelene conformal coating, which protects their circuitry from dust and water.

As a result, they can market a product with the unique selling point of being waterproof, which generates widespread attention as people are always worried about water damaging their tech products. This concept applies to all products across all industries – think about a particular thing people really need and implement this into your product to make it stand out.

Increase the perceived value

Increasing the perceived value of a product is different to actually increasing the value of it. You see, perceived value is how people view a product and feel about it. There’s a great video that explains this in more detail and goes into some pointers on how to increase the perceived value of your products. But, the general explanation is that you’re making people feel like they really need to buy what you’re selling. You need to make them feel as though they’re missing out if they don’t have it, and that it’s something that can potentially change their lives. This is a psychological approach to things, but it’s proven to help increase sales and make your product more visible in the public eye.

Focus on branding

Nowadays, there’s an increased emphasis on branding in the product development cycle. Businesses are really putting a lot of attention on building a brand and making it the focal point of their product. By establishing a positive brand image and really pushing your brand out there, it means people become more attached to your business. Look at the fashion industry to see this in action; there are some huge brands selling products for outrageous prices, but they’re still making loads of profits.

This is because people identify with the Louis Vuitton’s or the Gucci’s out there, which means they want to buy their products because of the brand. If you can build your brand to a point where people are almost in awe of it, then your products will instantly stand out.

Selling a product can be hard, but these strategies make it a lot easier. When you focus so much attention and money into developing something new, then the last thing you want is for it to fall through and create a loss. Follow the three tips above to ensure this doesn’t happen to you.

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