You have a product and you’re ready to figure out how to market it.
One thing I hear all the time is: “This product is for everyone! It will appeal to the mass market and everyone will want to buy it”.
Well, several problems with that line of thinking. If you’re a new, small company, you most likely don’t have the marketing dollars to reach that mass market yet. In the nascent stage your distribution channels are probably going to be limited to e-commerce and Amazon (where your margins…well, that’s a whole other post). But don’t fret, thanks to social media and e-mail, you can start getting a good amount of targeted customers that not only will buy your product but also potentially champion your cause to the bigger market.
Let’s use the protein bar market as an example. Twenty years or so ago, the market was pretty much Power Bar and MET-Rx and some other bars here and there, nowhere as ubiquitous as bars are today. Today, the bar market is so incredibly saturated, with more companies and market angles popping up every month.
You have created a protein bar, in a few flavors, non-GMO, all natural, perhaps even all organic with 12 grams of protein. Now, who do you sell it to?
Well, is it:
Ketogenic? High fat, low carb, very low to no sugar.
Is it low glycemic? How the carb content affects blood glucose levels.
Is it vegan suitable? Plant based, no animal products whatsoever.
Is it Kosher? Kosher certified — meat, dairy or neutral. Do your research and get to know “circle U”, “circle K”, “D” and pareve.
Does it have sweeteners like stevia? Some people are allergic to alternative sweeteners.
Gluten Free?
Nut Free? No tree nuts or legumes (peanuts).
Paleo Friendly? No processed ingredients.
We can list more categories but let’s stick with these and pick three. Let’s say your bar is vegan, low carb and low sugar. That’s a good starting point for a low budget or guerrilla marketing plan. Let’s grab vegan and break it down:
Potential Vegan Targets:
Vegan Cafés or Specialialty Shops — These are popping up everywhere, especially in the bigger cities and always looking for more products for their customers. A quick search of #vegancafes lon Instagram lead me to a bunch of posts of vegan shops you can target and reach out to with your bar.
Vegan Athletes — In the NBA, Marc Gasol and Kyrie Irving, an investor for Beyond Meat, and Ryan O’Reilly of the NHL are some of the more notable athletes who have gone with a plant based diet. But there are many amateur athletes who have adopted plant based diets, including some pretty ripped body builders who you can also market too.
Dietary and/or Health Reasons — Some people I know personally have gone vegan due health issues. Customers in this category are always looking for snacks and on the go food that fit their new lifestyle.
Do some due diligence and some more research so you can start targeting your product. Don’t be afraid to search on Facebook, Twitter and Instagram for potential customers that fit in these target markets and reach out to them. Tag them directly, direct message them and hashtag your posts (#vegan, #veganfood, #veganrecipes and so on). Build an e-mail list and send out your Mail Chimp campaigns to them.
The people that respond, end up trying your product and hopefully liking it, can become your early adopters. These are the customers who you can ask to give you great Amazon reviews, testimonials for your website/social media accounts and become your loyal followers. Once this happens, you can start gaining visibility, generating revenue and eventually finance the bigger marketing campaigns you strive to do for your product.