Once our clients have gone through IoT product development services, the next step is to get the product into the hands of the clients. And we have seen many clients struggling to launch their IoT products into the market. That’s why we prepared 7 tips for marketing IoT products.
Crucial information about your IoT marketing strategy
Before we tell you the 7 tips for IoT marketing, it is necessary that you analyze three things. First, an IoT product (the importance of IoT) could have the best design, electronics, IoT sensors, IoT protocols, and even a great firmware, but if this product doesn’t appeal to a real necessity or problem in the market, there won’t be high chances for it to be successful.
Second, we highly recommend you investigate several IoT device examples, it can be in your area of interest, or in other industries. Why? Because you may see things from different perspectives when you analyze the market as a whole. And discover what IoT marketing strategy they implemented.
Don’t forget to study your competitors, analyze their strategies, products, features, pros and cons. Analyze how you could do things differently to build something innovative and of great value.
And third, be sure that the product you have in your hands is ready for the market. Some people try to rush the launch of their device by trying to sell it through advertising, but most of the times, it is just in the prototyping phase (see prototype vs MVP). You need to be sure you have a Minimum Viable Product ready for the marketing phase.
Your tips for IoT marketing
These tips come from years of research and talking to customers that have already gone through different IoT marketing strategies. The Internet of Things is attractive in most cases, but bear in mind a product’s success depends on the competition, technological advances, operational costs, and the most important, your target audience.
1.Define your target audience
Philip Kotler, the economist and marketing specialist said, “there is only one winning strategy. It is to carefully define the target market and direct a superior offering to that target market.”
The most important part of marketing an IoT product is to define your target audience from the beginning; this is among the product development challenges that many entrepreneurs face when building their first product.
You can find IoT devices in any industry: healthcare, retail, energy, agriculture, environment, water management, tourism, among others. And there are hundreds of applications in each one of those industries:
Therefore, by identifying your target audience, you can tailor your marketing strategy accordingly, and build a product that will solve a specific problem or need.
If you keep this in mind, the features of your product will be well defined and attractive enough to ensure a successful IoT marketing strategy; think of early adopters as potential ambassadors of your product.
2. Identify the unique selling point for successful IoT marketing
Do you know the unique selling point (USP) of your IoT product? (see product differentiation examples). What sets it apart from similar products on the market? Is it the design, the functionality, or the ease of use? Once you have identified your USP, you can focus your marketing IoT efforts on highlighting it to potential customers.
We recommend that you watch this video, it was released a long time ago, however, it provides powerful insights that could help you out.
Are there startups that are being successful with their products in your same niche? Analyze what is their USP. Identify how such product makes the life of their users easier, or how it makes them feel.
This is a great starting point to understand how you can take advantage of aspects their products are not properly fulfilling in their consumers; see product design strategy.
3. Build a strong brand image
Building a strong brand image is crucial for marketing IoT products. Your brand image should convey the values and benefits of your product in a clear and concise manner. This can be achieved through a well-designed logo, a consistent color scheme, and a compelling brand message.
A well designed technology attracts people, but if there is a strong brand behind it, it will convince them on how committed your company is to delivering solutions.
4. Leverage social media
Depending on the market you are targeting, social media can be an effective way to reach a wide audience for marketing IoT products. You can create social media profiles for your product and use them to engage with customers, share product updates, and run targeted ad campaigns.
Another strategy could be to create a great landing page (see prototype examples), or a website that describes all about your IoT product. We suggest you invest in advertising if you want to reach potential customers that are looking for a product like yours on the internet.
5. Count on influencers – Good IoT marketing strategy
Influencer marketing services could be of great help for your IoT marketing strategy. You have to Identify influencers in your target market and reach out to them to promote your IoT product.
You can offer them a free sample of your product in exchange for a review or a social media post. Others may ask for money in return, the recommendation here is to analyze the audience of the influencer, how good he or she is on social media, and the potential reach you could get by using this marketing strategy.
6. Networking: attend fairs, events, and conferences
Attending trade shows and conferences is a great way to showcase your IoT product and connect with potential customers (even with investors). You can network with industry professionals, demonstrate your product, and create brand awareness.
7. Provide excellent customer support
Providing good customer support is essential in building trust and loyalty with your customers. Make sure you have a dedicated customer support team to answer any questions or concerns customers may have. This can help you build a positive reputation and increase customer satisfaction. Many companies don’t pay attention to this aspect, and if they can’t solve the questions or complaints of the consumers, the Internet of Things marketing process may be affected.
3 common mistakes people make when marketing IoT products
Whether the Internet of Things products are being advertised on digital marketing channels, or traditional marketing, there are several common mistakes that businesses make when promoting their IoT products. However, we will share only three of them:
1. Not understanding the target audience
One common mistake when marketing IoT products is not fully understanding the target audience. That’s why we highly recommend companies starting by understanding the target audience before marketing their IoT product.
By understanding your audience, you can tailor your marketing messages to resonate with them and increase the chances of a successful marketing campaign. On the contrary, a product that is not well targeted, won’t resonate with people, therefore, the sales won’t work as planned.
2. Focusing too much on the technology
IoT marketing requires being smart at communicating the benefits of your product, however, many startups make the mistake of focusing too much on the technology itself (see how to sell an idea).
While it’s important to explain the technical capabilities of your product, customers are ultimately more interested in the main benefits that the product can provide (see uses of rapid prototyping).
3. Ignoring the needs of consumers
To avoid this mistake, make sure to identify the needs of your potential consumers, this is crucial for ensuring a great connection between your audience and your IoT product; also, it gives you good insights to update IoT devices in the future.
Try to provide a great user experience, from the logistics area to the communication channels. People nowadays value the ease of communication, and feeling heard, if you can provide that, you will surely have a loyal customer base.
We hope these tips will help you with the IoT marketing strategy you are planning for your product. If you have any questions regarding the technical aspects of your device, don’t hesitate to get in contact with us, you can schedule a free consultation by clicking the button below.
