You’ve heard it a hundred times: selling your brand is all about supply and demand. You have the supply. But is there a demand for your product or service? Without customers who need what you’re offering, you won’t be able to sell. But you may be able to create demand or increase demand for your product or service, thereby boosting your sales.
How can you create demand? Here are a few strategies.
#1 – Scarcity and Exclusivity
There’s just something alluring about exclusivity. Take Snapchat Spectacles, for example. Launched in 2016, Snapchat created sunglasses that could film a 10 second video for Snapchat. However, they were only available in special vending machines placed across the United States, a rare choice in a world that is increasingly run by online shopping. And yet their customer base loved it, lining up at these vending machines to get a pair of their own.
When you launch your product for a limited time or make it so that it can only be bought in a unique way, it piques the interest of your consumers. It also adds a little pressure, letting them know they need to act fast in order to get that product.
#2 – Tease Your Product Before Launch
You can also create demand by teasing your product with a good marketing campaign before you launch it. Don’t give too much information at once. That spoils the mystery and makes this strategy a moot point.
Instead, tease out bits of information on your social media or through videos. As you get closer to launch, tease out a little bit more. Just enough to pique the interest of your audience so they want to learn more. Build up some intrigue and you’ll build interest in your brand. At the very least, your audience will want to see the next tease so they can learn more.
#3 – Know What Your Target Audience Needs
As always, understanding your target audience is a must. Do your research on your target audience: their preferences, their habits, their challenges. Understand what they’ve been asking for and what they need. Then work back to your brand. How does your product or service meet their needs? Is there something about your product or service that you can emphasize in marketing as an answer to their problems? If so, you’ve created a bit of demand for yourself.
#4 – Highlight Your Unique Selling Point
Let’s say you’re launching a new line of lipstick. There are countless lines of lipstick in the world, so there’s hardly a demand that isn’t being met by supply. But customers can be choosy. There are customers who prefer a certain color or aesthetic, who shop only cruelty free makeup brands, or who might be allergic to certain ingredients commonly used in lipstick.
What makes your lipstick stand out? Does it protect your customers’ lips from sun damage? Does it last longer than most lipstick brands? Is there something special about your ingredients? Even if there isn’t a desperate demand for lipstick, the more specific you get, the more you might be able to find a market niche with some demand. So highlight your unique selling point. Remind customers what makes you different and why they won’t want to pass you up.
#5 – Use Influencer Marketing
Want your target audience to feel that they need your product or service? Find an influencer they admire who can tout your product or service as something they use. Last year, 81% of consumers reported that influencer marketing raised their interest in a product or service. Part of it might have been a matter of awareness, but there is a trust that comes with a lifestyle vlogger they follow recommending something new.
For this, you might even take advantage of micro influencers. Micro influencers have smaller, more niche audiences. However, these audiences tend to be more enthusiastic and more loyal. If you want to raise demand for your brand because your customers trust a particular influencer, micro influencers may be the way to go.
#6 – Promote User Generated Content
If there are users who are already interested in your brand, seize on that. On almost every social media platform, there is a way to share someone else’s post. Reposting, reblogging, sharing, or linking someone’s recent post in your story are all a few examples. When you share user generated content, you’re essentially letting your users do the marketing for you. And despite all the methods we have of marketing these days, nothing has become more powerful than word of mouth.
