Lately, there have been many tech products springing up everywhere and a lot of noise in the market. However, the truth is that we cannot listen to all the tech cacophony out there; we can only listen to a few. Yes, we hear the others, but few get out attention, and why is that? We’ve interacted with these tech companies because they have been proactive in reaching out to us and convincing us to buy their products.
“Selling a tech product doesn’t have to be complex if you do the smart work.” — Unknown.
Some companies do the right thing that jet sets them off to great fortunes. However, some tech organizations struggle to get their products from off the ground. What are these companies with failing tech products doing that is impacting them and robbing their efforts? That is the essence of this piece.
6 Reasons Why Your Tech Product is Not Selling
You have created a fantastic tech product, and with all the excitement that follows such innovation. But, unfortunately, you’ve launched for sale, and nothing is working out as planned. As it stands, you might be freaking out now, which of course, has prompted you to read this article, all things being equal. So take a chill pill as I share some insights as to why your tech product is not selling in the market. Let’s go:
#1. Your Product is Not Needed
Sometimes as entrepreneurs, we feel whatever we create has to be accepted by the market, and that’s where we get it wrong. First of all, you need to be sure that your target audience needs your product. It would be best if you did the groundwork to analyze your market through research. It would help if you also did some validation to ensure that a good percentage of your target market needs your product. When you’re confident that it’s required, then you can go to market with your product.
Your product should be validated if you’re already selling one without validation, and if you’re having trouble with sales, make sure there is a demand for your product in the market. Then, following your research, if you need to tweak the specs to fit the market’s needs, proceed. No one needs a product that still makes them do 100% of the work. People are looking for the fast and efficient. If it’s something they can already do by themselves, they don’t need your product.
#2. You’re Selling the Technology and Not the Feeling
Marketing is the foundation of any successful or unsuccessful business. You will see your product sales soar if you execute it correctly. When done wrong, it will suffer adverse consequences. In your marketing, what approach are you using? Are you only mentioning the specs your team put together and making your marketing language too techy? If you do that, you may be shooting yourself in the foot. On the other hand, if you’re not marketing right, you’ll be stagnant in sales. When selling your product, sell the feeling—sell the emotion behind the tech.
How does your product make the end-user feel after purchasing it? What experience would they get from your tech product? For example, if I’m purchasing a new laptop advertised on the net, I’m buying the feeling of a lesser weight when I put it into my feminine handbag. I’m buying the feeling it gives me to work faster without the RAM slowing down my work. I’m buying the convenience I’ll get when using the laptop. You must avoid using technical or scientific language in the marketing of a technology product. Instead, list the benefits your product gives that create the feeling your target market needs.
#3. You’re Not Selling the Stories Right
Do you tell stories about your tech product when marketing it? Create a buyer persona and tell how your tech product has helped him or her overcome challenges they were facing without it. In their video advertisements, Google, for instance, can tell a good story. In their ads, a college student can use the Google search bar to find information quickly on a subject topic that would have been difficult to find in a school library. Or a dad can embed YouTube videos directly into an email to save memories for himself and his daughter.
In the two above instances, you can see that Google didn’t mention their specifications in data, speed, or feed. They did not get techy with the advertisement about their technology; they just told a story that people—their audience—can relate to, all things being equal. Google focuses on the stories and memories created from the benefits the specs give to their users. Storytelling is what sells in marketing. Your target audience can connect with stories based on the features your product offers.
#4. Your Pricing isn’t Encouraging
Another reason your tech product might not be selling is your pricing. If your target audience can’t afford the price of your tech product, then you must do some tweaking to make them know you have them in mind. Don’t be too cheap or too expensive but have a standard price for your product that makes your ideal customers purchase. Your customer may not be everyone, but the one who is shouldn’t break the bank to buy from you. You can also create packages so people can know which they can afford. For example, if your tech product is subscription-based, offer discounts or free trials, then upsell.
#5. You are Not Listening to the Voice of the Customer
Again, if your product is not adding any value, you won’t make sales at all. If what you say the product can do is different from what it does, you’ll get many bad reviews that will discourage many people from purchasing it. Sometimes, the voice of the customer plays a huge role in ensuring that you will sell your tech products. In the words of Jonathan Mildenhall, “Amazing things will happen when you listen to your customers.” The million-dollar question is this: “Are you listening to the voice of your customers?”
If your product isn’t saving the day or making the user happy, then pause and investigate it so you can come up with something better, then re-strategize and sell. Your customers’ opinions about your tech products may be the saving grace that brings your sales back on track. So, it pays to have a social listening ear. Look out for reviews or complaints and make the necessary changes to keep your customers and sell more. In business, listening to your customers makes the difference between those who succeed and those who fail. Customer opinions are critical to the success of your tech products.
#6. You’re Not Putting in Extra Effort
Don’t depend on one marketing source or channel. Instead, go the extra mile by attending exhibitions and going to where your target audience is. For example, if your target audience includes college students, do a campus tour to advertise your product and offer freebies. If your target audience includes corporate executives, don’t rely on digital marketing alone. Instead, make sure you attend executive conferences and network. Or, get a speaking engagement to chip in your product and the problem it solves. If you’re not thinking out of the box to make sales, you may get stuck in the rot and not grow. Always remember that success is dependent on effort!
Selling generally as an entrepreneur can be challenging, and selling a tech product might be more arduous. To sell your tech product, you need to ensure that your target audience needs your product and you’re selling the feeling they get from using your product. As well as telling the right stories, you can sell your products by being flexible with prices. Your tech product must save the day for your target audience by appealing to the voice of the customer. Finally, it would be best if you made an extra effort to think out of the box so you can sell more.
“Effort paves the road to success.” — Ogbonnaya Agom-Eze.
Are you in the tech industry? If yes, what tech product are you about to sell? Have you been successful at making great sales? If yes, what are some of your best practices? If not, what have been some of your pitfalls that you would advise readers in our community to avoid? Then, talk about it in the comment section.