Today, where new products are launched daily, it can be daunting to stand out in the market.
Video or ad?
Hire an influencer or have your marketing rep do a how-to video?
But fear not; learn everything you need to know about product marketing in this ultimate guide!
This guide will equip you with proven strategies and tactics to help you create an unshakable brand and boost your sales.
We'll dive into the nitty-gritty of product marketing and provide practical tips and examples that you can apply to your business.
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What is product marketing?
Product marketing is introducing a company's products to the market.
Where does product marketing, though, start and stop? This question has a complex solution.
Some businesses have product marketers who are committed to introducing new products. Others, however, broaden the purview of product marketing to influence and direct ongoing sales strategies years after a product's introduction.
The product, customer success, sales, and marketing all fall within product marketing.
In a larger sense, product marketing is the meeting point of products and markets. Every marketing strategy will be guided by the market's needs, which will determine which products are produced and how they are advertised to consumers.
In this sense, including all facets of creating, introducing, and marketing a product might be necessary.
The Role of Product Marketers
The main role of a product marketer is to launch a specific product and ensure it is successful. But, their function extends beyond the go-to-market plan. A product marketer is crucial in the following areas:
A product marketer collaborates closely with the marketing team to establish and carry out a strategy that aligns with the product's positioning and growth plan.
Product marketers assist in the creation and execution of marketing campaigns that highlight a product's characteristics and advantages to the target market.
Did you know that 75% of internet users use social media to research products and services before buying?
Social media marketing campaigns are highly beneficial for any online business and marketing.
- Sales enablement: A product marketer collaborates with the sales team to give them the tools and knowledge they need to present the product to high-quality prospects.
- Product management: To ensure the product satisfies the target market's needs and to gather suggestions for improvement, a product marketer collaborates closely with the product management team.
To perform these duties efficiently, a product marketer must know the target market, competitors, and trends.
To ensure the product satisfies customers' demands and earns income, they must also work closely with other departments, including sales, brand, and demand creation.
Product Marketing Deliverables
Product marketers are well-versed in the customer, market, and product. They then utilize this specialized expertise in a variety of ways.
Some of the primary outputs that product marketing teams produce, typically in cooperation with product management, include the following:
Buyer personas describe your ideal client and highlight important traits like their objectives, difficulties, preferences, and dislikes. This aids other cross-functional teams (such as the larger marketing team) in developing customized messaging that appeals to target customers.
Case studies, also known as "success stories," explain how consumers use your product to achieve their goals and demonstrate how it is helping them. For future customers, these content pieces can serve as social evidence.
Channel partner support
Channel partners may be crucial to a product's commercial success. Various partnerships include OEM, VAR, technology, and service. They collaborate closely with partners to give product marketers the resources and assistance they need to succeed.
Demos and presentations
Product marketing demonstrates a product's features and advantages. Product marketing may provide this information to a specific consumer during virtual webinar events or as part of a conference.
The cross-functional tasks needed to promote a new product or release, such as marketing, sales, and support, are all included in launch plans. Team members can be held accountable and encouraged to communicate frequently by using a launch checklist.
The message is the external description of your product. It condenses your product's core benefits into exact phrases and serves as a blueprint for creating marketing initiatives, including website text, ad campaigns, social media postings, and press releases. Having a consistent product message across all channels is the goal.
An internal-focused document outlines the unique advantages of your good or service and explains why it is superior to what your rivals offer. You can use this tactical exercise to frame additions to an existing product, such as new features, or to design new products altogether.
Press and analyst briefings
Briefings for the media and analysts offer a chance to discuss pertinent strategic developments. Vendors discuss significant product releases and their business strategies. Product marketing frequently makes the briefing presentation, transforming technical ideas into an engaging narrative about how the product meets consumer and market needs.
A crucial element of the marketing mix is pricing. Simple equations tailored for your target market should be used as pricing models because they show how your product will be sold. Software products frequently use per-seat, concurrent usage, or usage-based pricing.
Sales enablement materials
The sales team is assisted with sales enablement resources, such as competition analyses, presentation decks, data sheets, evaluation guidelines, or ROI calculators, as they lead the customer through various stages of the customer journey.
Product marketers know the channels customers utilize to research their options. To connect with their target audience, they create customized messages for each channel. Marketing teams engage with customers through trade shows, conferences, and events, which helps them successfully reach their customers.
Effective product marketing communicates a product's value, which promotes business expansion.
The best product marketing managers successfully transmit their enthusiasm for the product to internal and external audiences. They collaborate across functional boundaries to produce a whole product experience that customers adore.
The Product Marketing Framework
The center, the point of intersection, and the base of every successful business is product marketing.
PMMs work closely with important teams, including the marketing team, sales, and customer success, and they are essential to the company's success. Although it can be confusing, it is critical and exciting.
That’s where the product marketing framework comes in:
Using our product marketing framework, we cover every aspect needed to move through the product marketing journey—from A to B, C to D, and so on.
Discover, strategize, define, get set, and expand are the five core phases of product marketing as defined by the framework. To fully understand the framework's components, we advise becoming familiar with them all.
But, in the interim, here's a whistle-stop tour:
You must now obtain the knowledge and understanding necessary to transform your assumptions into well-informed hypotheses. Only two crucial components—gold nuggets for product marketing—involve gathering customer feedback and competitive intelligence.
Strong product marketing always includes a strategy, whether for product-market fit, your GTM plan, or your price.
It all comes down to defining your personas and using the information you learned throughout the discovery phase to influence consumer messages and journeys.
Now is the moment to put all your hard work to use through training, sales enablement activities, and marketing initiatives so that your team is ready to seize the GTM by the horns and run with it.
To ensure that your product continues to thrive and develop in the market, your post-launch procedure must begin at this point.
Product Marketing vs. Traditional Marketing
Traditional marketing focuses on promoting a company's whole brand and generating demand for it. Contrarily, product marketing focuses exclusively on the items your company sells and helps to increase demand and adoption for the product.
The objective of conventional marketing is to generate interest in your business.
Consider your email marketers and campaign managers on your demand generation team. These individuals work to increase consumer awareness of your brand and foster trust among potential customers.
Product marketers, conversely, concentrate on specific target markets for their products and services and try to persuade them to make purchases.
You should be aware of our audience's individual buyer personas, pain points, objectives, values, methods of success measurement, and research sources.
This data will enable you to develop a position that appeals to them.
Product Marketing vs. Product Management
A product manager's role is to plan and develop new features and products. Driving demand, income, and adoption for those items is the responsibility of the product marketer.
In other words, the product manager is in charge of comprehending the issue that their clients are experiencing before sizing and developing a solution.
As the graphic below shows, over half of the industrial demand for the PM post comes from the technology sector.
The product marketer owns the commercialization strategy, the story, and the product's positioning on the market.
Because product managers and product marketers are intimately familiar with the product, they frequently collaborate, particularly when scoping the product and developing the roadmap.
But in the end, the duties and goals they pursue are very dissimilar from one another.
The Benefits of Product Marketing
Product marketing is responsible for building the foundation team to position and promote products properly. To guarantee a successful launch, the product marketing team will collaborate with the sales, customer success, and product teams.
Also, product marketing is crucial to supporting the team's initiatives when it comes to marketing. We'll now concentrate on product marketing and the marketing team's objectives.
Product marketing is essential since it ensures that you can sell your products and advances your brand's narrative. Your brand will help you stand out from your competitors, as any marketer will tell you.
It also ensures your products are marketable and adds to the brand's story. And as any marketer will tell you, your brand will make you stand out from the rest.
The new B2B marketing and sales era has given buyers more choices.
As a result, consumers today need help to discern between similar-looking products sold by different suppliers.
Product specifications and functionality are the most important types of content during B2B purchase decision-making, as highlighted below.
Upon deciding what campaigns to run by the marketing leaders, the demand generation team will identify which audience segments they will target, such as product marketers, and develop a program narrative.
These narratives focus on a specific target audience and core theme, informing what offers are created.
In short, product marketers craft high-level narratives that form the foundation for each program. You can engage with buyers through these narratives and make your brand unique. You will be the first to come to mind during every stage of the buying journey.
That is why product marketing is a staple of any marketing team today.
Product Marketing Responsibilities
Product marketing is a crucial function in any business that involves developing and executing strategies to promote and sell products to target customers. This involves conducting market research, creating marketing materials, and collaborating with sales teams to drive revenue growth.
Product marketers are also responsible for monitoring and analyzing customer feedback and market trends to improve the product and marketing strategy continuously.
Product Messaging and Positioning
Having a fantastic product is excellent, but trying to persuade an entire market to buy it with a single, overarching message is not so great. It just falls short, and this is where product marketers play a crucial role.
Understanding what makes your market tick and what doesn't allows you to define your product in a way that resonates with them.
Positioning statements and messaging hierarchies are useful templates in this industry.
Managing Product Launches
Launches are the foundation of the product's marketing strategy, whether they are minor feature updates or new products.
We've all heard of the iceberg metaphor.
Product marketers are in charge of that spotless tip that floats easily over the water while juggling the mayhem below.
Because the role sits at the intersection of several departments, including sales, product, customer success, finance, and engineering, the word "intersection" is frequently used in product marketing.
This is because the role ensures that each department is informed, capable, and pulling its weight.
Creating Sales Collateral
There are many different types of sales collateral, and the quantity needed will mostly depend on the launch type.
For instance, a minor website wording change and a quick meeting with sales and customer success to discuss the details may be all that is required for a feature upgrade that only affects a small portion of current customers.
Conversely, a new product might need the whole nine yards: battle cards, new messaging and positioning, brand-new websites, sales training, etc.
Customer and Market Research
Pre-work is the next step. Any form of launch requires investigation before, during, and after.
- Who is the intended audience?
- What conditions must be met?
- What distinguishing traits do they have?
- What aspects of our product do they enjoy and dislike?
- Why did they pick the rivalry instead of us?
- How do they believe we could improve even more?
- What kind of words do they have that may be used as a case study?
Since none of this is present, your only option is to beat your finger in the air and see what sticks.
There are several different categories of consumer and market research now:
There is competitive intelligence, which is simply the process of staying ahead of your competitors. Examples include shifting market positioning, price hikes or decreases, introducing new products or features, using various marketing channels, etc.
This procedure is essential for solidifying your position as the industry leader and preserving consumer retention rates.
Reporting on Product Marketing Success
KPIs in product marketing are a gray area because many individuals use them while others do not.
Here are a few illustrations to give you a sense of what you're looking at:
- Amount of users per day, per week, or per month
- Goals for overall revenue
- Win rates
- Assets used for product marketing
- Sales confidence, or how assured your sales team is when presenting your goods
- Marketing-qualified leads (MQLs) and sales-qualified leads (SQLs)
- Customer satisfaction - using things like NPS scores.
Blogs, whitepapers, case studies, social media posts, product guides, and sales one-pagers are all examples of content marketing.
We briefly touched on this, but how much you'll need to unleash your inner poet depends on how the business is set up. You won't always need to take ownership if a team of copywriters is integrated.
Did you know that content marketing results in 3x more leads than traditional marketing?
Nonetheless, some product marketers are more at ease with their copywriting abilities than others.
Managing the Website
There will always be exceptions, but it's uncommon for product marketing to be in charge of a company's website. It is more important to ensure that:
- The website reflects new functions and goods.
- The messaging and positioning components are current and functional.
- User experience (UX) and product usage are both optimized.
- Scheduled in-app messages are functioning as intended.
Product Roadmap Planning
There is no point in sugarcoating the fact that some product marketers have a better deal than others in this regard. Still, the data-driven and customer-focused intelligence you receive should assist in determining product roadmaps.
For instance, should and when will feature X be added to the pipeline if you find that a sizable percentage of customers demand it? What preparations do you need to make if it has already been agreed that Product Z will be released in July?
The product roadmap is the overarching road map, even though Go-To-Market plans are the product marketer's road map to success; without them, you wouldn't have anything to launch.
What happens after you acquire that new client? Nothing? In that case, they might not stay with you as long as you had intended.
A robust onboarding procedure ensures all users start well and get the most value from your product.
First impressions matter.
The mechanics of this will primarily depend on the kind of product you advertise when it comes down to it; a B2B SaaS product will look quite different from B2C consumer products, for example.
The Ultimate Product Marketing Strategy
A product marketing plan is a road map that will direct the creation and promotion of your product. You can use this technique to select how to position and advertise your product before and after launch.
Below is a list of the five steps every product marketing strategy must have.
Product developers must approach their job from a product marketing perspective to establish product-market fit. Research into the market is among the strongest instruments for this.
It can be useful to answer questions like the following to decide whether a product idea is worth the investment:
- How many individuals are considering purchasing this kind of item? Does that number increase?
- What is the typical price consumers will pay for this product?
- Why is this kind of product appealing to people? How does it benefit them?
- What does the market environment look like? What are your rivals doing, and how can you improve or differentiate your offering?
- Who among those interested in this kind of product would be better served by something new, and how?
Early in the development phase, product marketers can assist in screening ideas to ensure they align with company goals, such as attracting new clients or increasing revenue from current ones.
To ensure a product meets customer wants, a product marketing team also works with product developers and shares research findings with them.
Positioning and Messaging
Only if everyone at your firm is on the same page will your positioning and messaging be successful. Consider how perplexed your customers would be if you sent them several distinct messages simultaneously.
Thus, it's crucial that product marketers secure support from across the company, mentor everyone on critical messaging, and take the lead on initiatives to enable sales and customer success. You can make sure your messaging is correct and consistent by doing this.
Communicating your positioning and messaging is also essential for the positioning of your brand as a whole. Doing this results in collaborating better with your marketing team and conveying a powerful go-to-market message in a more effective way.
Your larger brand posture depends on this action, where product marketers can collaborate with other marketing team members to deliver a strong GTM message.
Any product marketer's job must include launching a new product, which is a dynamic, multichannel undertaking. Product marketers are responsible for creating a plan for the launch of a product, which includes:
- A complete product launch calendar
- Messages that resonate with the target market can be used by sales teams with the aid of sales enablement
- Rolling out specific product messaging across the company's website, social media platforms, email list, and blog
- A paid advertising strategy that might involve online pay-per-click advertisements and IRL (out-of-home) advertisements like billboards PR actions that might include contacting appropriate media sources to inform them about the goods
When you release a product into the market, the marketing plan doesn't stop. The product marketing team monitors sales and engagement to determine the best messaging and channels. They'll make decisions about dropping ineffective tactics and embracing successful ones.
For instance, you may test various product positionings in advertisements. A product marketer may swap out the poorly performing ad creative for the most potent messaging if a clear winner is apparent.
As part of the product lifecycle, product marketers conduct surveys and analyze user feedback to maintain a product's competitiveness.
Finally, if you are promoting a cutting-edge product, you should instruct people on how to utilize new features.
A product marketer might provide content to speed up user onboarding or boost feature adoption, strengthening the product's position in the market.
Top Tactics to Market Your Product
To market your product effectively, understand your target audience and tailor your tactics accordingly. Utilize multiple online and offline marketing channels to reach your audience in various ways.
Create a Product Marketing Deck
Non-product marketers, such as social media and content marketers, will only partially understand your product, making it difficult to advertise it effectively on customer-facing channels.
It's only sometimes your responsibility as a product marketer to carry out marketing initiatives or create content. Your role is to support specialist teams, including your content and social media teams, in efficiently marketing your organization's products.
The first step is to give other marketers a deck, presentation, or document outlining your product marketing approach.
Therefore, when it comes time to implement a plan, they are aware of the positioning they are going for, the language they should use, and the personas they should focus on.
Check out the early slides from Airbnb's marketing size and market validation.
Publish Product-Focused Content
People mostly use blogs to draw inbound traffic and leads. You may develop material that aids in their problem-solving instead of trying to hammer them with information about your product. Then, provide them with a free guide or booklet to further assist them.
Your team must create content that draws inbound traffic, promotes sign-ups and sales, and generates inbound leads.
Did you know that a company that blogs get 55% more visitors?
Insert Product Mentions Naturally
The good news is that you can retrospectively advertise your product in materials you already have if you establish a long-standing marketing strategy before starting product marketing.
For instance, you may add information about your items to an extensive collection of blog entries you currently have (so long as the mention is natural).
Updating the content of your website is good for your brand-new product, and recent social media posts may also be candidates for an update. Your new product pages may receive traffic from internal links on linked pages.
Try Comarketing with a Similar Brand
Comarketing is a fantastic strategy for reaching a relevant audience with your goods. It can be as easy as creating a video, working on a blog post, sharing each other's content on social media, or hosting a webinar.
Your product should be a perfect fit for the clients of the competing business.
Ideally, you can use your goods together without immediately competing.
Launch PPC Ads
One crucial method of product promotion is pay-per-click (PPC). While social media and content marketing might assist you in generating inbound leads, placing PPC advertisements on search engines can help you reach even more potential clients.
When creating your PPC campaign, make sure to include both your own branded phrases and those of your rivals in your bids in addition to basic product keywords (such as "CRM software" or "[enter category]").
Customers contemplating buying identical goods from a rival will consider you an alternative.
Google and Facebook ads are crucial when it comes to online advertising.
Focus more on the Benefits than the Features
No matter what platform or channel you're using to advertise your product, focus more on the advantages clients will get from using it than its characteristics.
Features like "customizable attribution models" or "automated contact workflows" can feel jargony and obscure the benefits, alienating non-technical users.
Instead, focus on the advantages by starting your sentence with something like, "Know exactly where your leads come from" or "Save time by automating activities with contact processes."
Measuring the Impact of Product Marketing
The product marketer is accountable for many different metrics, including-
Product marketers often examine sales as one of the first metrics to determine a campaign's success.
Product Adoption and Usage
Does your product fulfill the promises it makes? Knowing how and why people use your product might provide important details.
Tracking product usage is simple if your product is an app. Businesses that offer tangible products can get some of this information from surveys and customer reviews.
A rising market share—determined by dividing a firm's sales by the total industry sales—strongly indicates that your company outperforms the competition.
How Product Marketing Helps Sales
One of the most crucial responsibilities of the product marketing role is sales enablement. This section is devoted to assisting the sales teams in streamlining their sales process to attract the greatest number of potential clients and close increasing agreements for the business.
82.2% of PMMs stated in research that their primary duties included updating internal documentation and developing sales collateral, a 4.2% rise from the previous year.
Market Your Product Today with AI bees
We know that product marketing is critical to any business and requires a well-thought-out strategy and tactical implementation to succeed.
The article discussed marketing strategies, targeting audiences, messaging, and using different channels.
But with tech continuously advancing, businesses can now tap into the power of AI bees to improve their product marketing efforts.
Businesses can utilize AI bees to analyze customer data, automate tasks, and generate insights that would otherwise require much time and effort.
With AI bees, businesses improve their marketing strategies by analyzing consumer behavior and preferences to deliver targeted and personalized messages, maximizing conversion rates, and keeping ahead of the competition in the digital landscape.
Using the power of AI, we want to advance your product marketing initiatives.
Doing so can give you a competitive edge, improve customer satisfaction, and drive more sales.
So, what are you waiting for?
Start exploring the world of AI bees and taking your product marketing to new heights!
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