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9 ways to gain market share in technology



The technology market is crowded these days. However, there is always a little more space for an above-average product.

While it feels like there’s nothing new under the sun, there are always ways to tell your product apart from the pack. Use these nine tips to help claim your own little slice of the sector.

1
. Zero-in for your target group

Different population groups have different needs and interests. Instead of marketing your tech product to the entire population, limit your focus.

Which audience does your product need most? Why do generalist solutions in the market not make sense to you?

For example, there are dozens of smartphones for everyone. If you’re trying to get into this market, why not one Phone for children? What about seniors or people with disabilities? With a little marketing, your niche will appreciate having your solution tailored for them.

2. Focus on the shape

First impressions are important when it comes to grabbing consumer attention. Does your product look like it’s worth the price? Appearance is one of the best tools to help make it stand out.

Again, think of your audience here. If you’re into tech gurus, a next generation look might be your best bet. However, if you’re selling to an audience that isn’t engaging in technology all day, a simple, sleek design is likely a better choice. People who use your technology professionally will likely prefer a look that says “tough and reliable”.

3. Highlight the unique features

Do you remember iTunes? The music software was incredibly popular – until Apple decided that it took every feature under the sun.

Instead of trying to be everything to everyone, highlight what your product can do better than anyone else on the market. Build them up and prioritize others who aren’t that special.

Be aware, however, that unique features don’t last long. Copycats can flood the market and try to push you aside with your own innovation.

While unique features are a great way to make your product stand out from the crowd, you can’t rest on your laurels. Make sure your product is solid in other ways too, such as B. through your user interface and the guarantee. Work on a new prominent role as soon as possible.

4. Create space for integrations

Your tech product isn’t the only one your customers will be using, and that’s fine. Use integrations to integrate them directly into the existing network of technical tools and services.

Integrations not only support the user experience, but your marketing efforts as well. For example, if you’re developing an app that specializes in creating and saving cooking recipes, you can plug it into popular messaging apps. By helping users share their favorite recipes with their family and friends, you are promoting your app to new audiences.

5. Offer a great user experience

Nothing is more important to the success of your product than to the user experience. Who wants to buy something that is difficult to use?

However, ease of use is only one component of the user experience. How do people feel about your product when they use it? Make sure your users actually enjoy the experience.

Think about how your product will be used. If it’s an e-bike, is the seat comfortable? Do people want to be seen driving down the promenade? How is the battery life?

6. Highlight your Front Runner status

Are you the first to enter a niche market? If not, is your product the first of its kind under $ 100? Does it have the latest security? Do not be shy; Share your front-runner status.

The first mover advantage isn’t everything, but it can result in a real increase in market share. Note, however, that the effect will be short-lived: put the press you receive on other occasions like trade shows and recruiting events. Just as people love to buy breakthrough products, top talent tend to be interested in the companies that build them.

7. Patented Items

If your technical product contains proprietary technology, you do not run the risk of anyone drawing on it. Patent any feature, application, or process you developed.

Patents protect your intellectual property. However, they also serve a second purpose: They prove to your audience that what you’ve built is really different. Much like posting content on an external website says more than posting it on your blog, patenting provides better evidence than ever of your product’s differentiator.

8. Think about your sales strategy

Where does your target group find your product? Is it an app that they can download on any device or a device that is exclusively sold by a retailer?

For most technical products, better accessibility is better. However, selling exclusively on your website can strengthen your brand and reduce the cost of selling. In the case of technical products such as cameras, sales in specialist shops can reinforce the “high-end” mood of a product.

Another important part of your sales strategy is pricing. Balance is key: set your price too high and you risk losing potential buyers. If you set the value too low, your product may be classified as inferior. Go for a price that is affordable yet attractive to your specific audience.

9. Cultivate a reputation for customer service

Hiccups occur especially if your product is the first of its kind. Customers don’t expect your tech product to be perfect, but they do expect you to get things right.A breathtaking one 96% of customers say customer service is the key to their brand loyalty. If you don’t endorse your tech product after you buy it, then any market share you win won’t be yours for long. The word gets around, especially if your product is the “next big thing” in their market. If you want this word to be positive, make sure you are always wrong on the customer’s side.

Fix bugs that customers report immediately. Issuing refunds or credits to customers whose products are not performing properly. Encourage representatives to be empathetic regardless of the client’s situation.

The development of a new technology product is a matter of course. Differentiating in a crowded market takes even greater efforts. Plan your approach carefully, set aside plenty of money, and watch your market share skyrocket.

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