Contract Compliance

How to Determine Whether a Slow-Moving Product Needs Better Marketing or Should Be Discontinued

Launching a new product in the eCommerce space can be both exciting and challenging. One common dilemma that many entrepreneurs face is understanding why a product isn’t performing as expected: Is it a marketing issue, or is the product itself not resonating with your audience? Navigating this decision requires a strategic approach grounded in data, market insights, and a clear understanding of your business goals.

Understanding the Challenge

It’s not uncommon for new products to experience slow initial traction despite careful planning. You might have invested time in product development, sourcing, branding, and even created marketing campaigns. However, despite these efforts, sales remain sluggish, prompting questions about where to focus your next steps.

Is the product poorly marketed, or does it lack market demand?

Evaluating Marketing Effectiveness

Start by analyzing your marketing efforts:

• Ad Performance: Are your advertisements generating impressions and engagement? If engagement is decent but conversions are low, consider refining your messaging or targeting.

• Product Presentation: Does your product page clearly communicate benefits? Are images high quality and persuasive? Enhancing product descriptions, visuals, and user experience can make a difference.

• Incentives and Bonuses: Have you tested different offers, such as limited-time discounts, bundles, or additional resources like guides or tutorials?

Gather Data and Feedback

Use analytics tools to track visitor behavior, conversion funnels, and bounce rates. Additionally, seek direct feedback from potential customers through surveys or social media engagement to understand their perception.

Assess Market Fit

Confirm that your product addresses a genuine problem and offers a compelling value proposition. Research your target niche to validate demand and ensure your product isn’t competing in a saturated market.

Deciding When to Move On

When should you consider discontinuing a product? Here are some indicators:

• Consistent Low Conversion Rates: Despite marketing adjustments and multiple efforts, conversions remain persistently low over a sustained period.

• Lack of Customer Interest: Feedback suggests limited interest or perceived value.

• Financial Viability: The product isn’t generating enough revenue to cover costs or justify further investment.

• Exhausted Marketing Strategies: You’ve exhausted reasonable marketing avenues without significant improvement.

Making the Decision

A thoughtful approach involves setting measurable benchmarks. For example, define a timeline and specific sales or engagement metrics to evaluate progress. If after multiple iterations and efforts there’s no noticeable improvement, it may be time to pivot or phase out the product.

Final Thoughts

Deciding whether to invest further in marketing or move