Advertising a product effectively involves careful planning, targeting the right audience, creating compelling content, and utilizing various advertising channels. Here is a detailed answer on the best way to advertise a product, including examples and references:

1. Define your target audience: Before advertising a product, it is crucial to identify your target audience. This includes understanding their demographics, interests, and preferences. By knowing your audience, you can tailor your advertising message and select the most appropriate advertising channels.

Example: If you are selling fitness equipment, your target audience might be health-conscious individuals, athletes, or people interested in weight loss. Understanding their needs and motivations will help you create effective advertisements.

Reference: HubSpot's Buyer Persona Template - https://www.hubspot.com/make-my-persona

2. Set clear objectives: Define your advertising goals, whether it's increasing brand awareness, driving sales, or promoting a new product feature. Clear objectives will help you measure the success of your advertising campaign.

Example: If your objective is to increase brand awareness, you might focus on reaching a wide audience through channels like social media, display ads, or influencer partnerships.

3. Craft compelling content: Create engaging and persuasive content that resonates with your target audience. Highlight the unique selling points of your product, address customer pain points, and demonstrate how your product solves their problems.

Example: If you are advertising a smartphone with a long-lasting battery, focus on the benefits of extended usage, convenience, and uninterrupted communication.

4. Select the right advertising channels: Choose the advertising channels that align with your target audience and objectives. There are numerous options, including online platforms (social media, search engines, display ads), traditional media (TV, radio, print), and outdoor advertising (billboards, transit ads).

Example: If your target audience spends significant time on social media platforms, consider running targeted ads on Facebook, Instagram, or LinkedIn. If you want to reach a broader audience, TV or radio advertising might be more suitable.

5. Utilize data and analytics: Track and analyze the performance of your advertising campaigns using data and analytics tools. This allows you to measure the effectiveness of your ads, identify areas for improvement, and optimize your future campaigns.

Example: Use Google Analytics or Facebook Ads Manager to monitor key performance indicators (KPIs) such as click-through rates, conversion rates, and return on ad spend. This data will help you make data-driven decisions and refine your advertising strategy.

References:
- Neil Patel's Guide to Digital Advertising - https://neilpatel.com/what-is-digital-advertising/
- WordStream's Guide to Advertising Channels - https://www.wordstream.com/blog/ws/2020/10/13/advertising-channels
- Google Analytics - https://analytics.google.com/
- Facebook Ads Manager - https://www.facebook.com/business/tools/ads-manager