If you realise something; most busienss owners in Malaysia (SME) has one hit product. Do you realise that?
They will start with one product; and all the marketing is done to that one product, and that product ‘booms' to become one of the best seller in the market; and not soon later; its off the market 100% leaving the ‘founder’ back to square one.
Have you ever wondered why that happens?
Well ill tell you; its because they focused too much on that one product. And when next they want to come up with another product; it's usually the same product in different ‘flavour’ so indirectly, now you are ‘split’ to market the same product twice. And your customers gets confused don't know which to buy, and finally they get so confused; they decide not to buy and since your marketing is already split; you don't have that much budget = less exposure to new customers as compared to last time.
If you notice; only certain brand that has high volume sales with lots of marketing budget can do that; giving people more flavor. Example like scotts emulsion, oxy etc. (Im in the pharmacy working now so this is all i see:-D) they only do that when their one product becomes a household brand; and after that when they have the budget; they venture into different flavorings/ offerings.
But if you are someone with not much marketing budget; another thing you can do is sell to existing customers more things. If someone is already using your product that is famous; why not sell ‘suplementary’ products that can help your customers better?
Example if you are already selling serum that is famous; why not sell other products like cleanser, toner, scrub, mask that has the same ingredient as the serum? Isnt that much better? Since you can sell to your existing customers who already love your product? Almost zero marketing cost there. Rather than try to look for new ‘market’ which is so expensive the customer acquisition cost?
What you think?
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