According to Mike Marrotte of M Squared Sales and Marketing there are two major factors that influence consumers to buy products: Trust and product labeling.
In his presentation at Natural Products Business School at Expo West 2016, Marrotte addressed what he considers to be the critical steps in branding a product and best-in-class marketing tactics.
Marrotte said today’s consumers are looking for brands that mean something to them, and this is where the trust aspect comes in.
As far as labeling goes, consumers want product labeling that is clean, with simple ingredients, and nutrition labeling that shows what ingredients are and aren’t in the product.
Marrotte advised setting aside 6 to 9 percent of your net revenue for marketing in the first year. “The single most important thing you can do is get your product in the hands of consumers.”