Five-star reviews, sky-rocketing demand, and pole position in product market share is every product marketer’s dream. The question is, how do you get there? While every product is different, a few basic rules can help product marketers taste sweet success.
This article will dive into some of the best rules for product marketing.
Product marketing isn’t focused on the company’s overall marketing or sales. Instead, product marketing deals specifically with a single product. While your product’s success relies on the marketing, sales, and product marketing teams working together, success ultimately rests on the product marketing team’s shoulders as coordinators of the departments.
One of the most important roles of the product marketer is to serve as a liaison between the departments. That means seeing to it that everyone in marketing and sales is on the same page about the product’s features, benefits, and target audience.
Keeping everyone in the loop ensures you all speak with one voice.
With every department pushing to increase its own budget, it can be a tall order coordinating everyone. Onsite negotiation training can help smoothen the coordination process and improve cooperation. If all three departments operate seamlessly, the product stands a greater chance of hitting targets.
No matter how well your product addresses your market’s pain points, unfortunately, it’s unlikely to be the only product on the market. How you communicate the benefits and distinctions of your products can make the difference between winning and slumping out against the competition.
A product marketing campaign is not complete until you define the messaging. Inconsistent or hazy communication about your product and its value may cause customers to lose trust in you.
When crafting your message, it also helps to narrow down a unique selling point and make that the focus of your message. A USP that’s driven home by a catchy slogan has a higher chance of grabbing the attention of your market.
Most importantly, remember that your customers are usually more concerned with what they can get out of a product, so be clear about product benefits.
Accurately define your target market
No matter how well you express your message or slogan, it won’t pack a punch if you’re addressing the wrong people. A winning product marketing strategy starts by defining the buyer persona. Profile key details about your customers. Think of information like the customer’s:
You can profile your buyers through onsite focus groups or offsite surveys. Knowing your market inside out helps in every stage of product marketing. Product knowledge influences design, branding, marketing, negotiating, team training, and follow-up. It also helps target your customers more convincingly and drives them to buy your product.
Go where your customers are. Few product marketing strategies succeed without a clear distribution plan. There are many distribution options and channels, each very different from the last. You have to decide which one works for your product based on the buyer persona.
Once you’ve decided on the channels, figure out the best method for marketing. You have the option to:
Select the channel and methods that won’t blow your budget. You don’t have to do everything or have a presence everywhere. If anything, trying to use too many distribution channels could stretch your resources thin.
Whichever channel you choose, you will likely need to negotiate with influencers, bloggers, or other stakeholders. Consider onsite training to hone your communication and negotiation skills so that you avoid losing value in collaborations.
Imagine you’ve mapped your customer’s persona, and developed and launched your product. You may have even made a catchy slogan and a jingle to go with it. Despite ticking all the boxes, your product fails to take off. What’s the best course of action for a product marketer when their approach isn’t working? Simply put, a product marketer should consider making adjustments.
Product marketers must be flexible. Holding fast to a method that’s not working can cost you too much in the long run. Consider A/B product launch testing. Use two different methods, messaging, and distribution channels. Once you determine the one with better results, run with it.
Once a product has been launched, successful product marketers keep their finger on the pulse. It’s critical to monitor how customers respond to your product. If the results are poor, it could be time to shake up your product marketing strategy.
Use any positive feedback to your product’s advantage. Using testimonials in a relatable way helps shine your products in their best light. Also, stories from happy customers tug at the heartstrings of potential buyers, spurring product sales.
Product marketing is a complex process. Different products and industries contribute to a melting point of variables. That said, following some basic rules will help negotiate your way to success and set up your products to soar higher than the competition.
Most importantly, remember that your customers are usually more concerned with what they can get out of a product, so be clear about product benefits. The best way is to show them a photo or short video which can show them how to use your product or service. If you think that this might be over your budget, remember that there are free video editors that you can use on your desktop.
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