How can product marketing increase sales

The Ultimate Guide to Product Marketing in 2020

Learn more about the power of product marketing, how it can help your bottom line and influence the success of your products.

What is product marketing

Product marketing is the process of bringing a product to market, promoting it, and selling it to a customer. Product marketing involves understanding who the product is targeting and using strategic positioning and communication to drive sales and demand for the product.

So find a way to address your potential customers in such a way that they feel addressed personally and individually. You can achieve this by using individual and personal content such as texts, speeches and images for your website.

Product Marketing vs. Conventional Marketing

Product marketing is strategic while conventional marketing encompasses everything.
Product marketing is seen as part of conventional marketing. When you look at the various aspects of marketing, you will find that product marketing is one of the most important aspects of any company's marketing efforts.

Product marketing focuses on increasing demand for and acceptance of a product by existing customers. It focuses on the steps people take to buy your product so marketers can create campaigns to support that work.

Product marketing is about understanding the target group of a certain product at a deep level and developing the positioning and communication of this product in order to address this target group. In addition to the marketing strategy for the product, it also covers the start and execution side of a product. Therefore, the work of a marketer is at the heart of a company's marketing, sales, and product teams.

Conventional marketing focuses on broader topics under the umbrella of marketing like lead generation, SEO, and everything related to attracting and converting new leads and customers. It's about promoting the company and the brand as a whole, including the products that are being sold. Marketers ensure that there is a consistent, branded message behind all of the company's content.

Why is product marketing important?

Product marketing is an important part of a company's marketing strategy. Without them, your product will not reach the maximum potential of your target group. You need to think about your product and ask the right questions to help you find answers. By asking yourself these questions, you can ensure that your product is a success with customers.

Is our product suitable for today's market?
Is our product interesting for our customers today?
How does our product differ from similar products from our competitors?
Is there any way to further differentiate our product from those of our competitors?
Are there products that we have sold in the past that now - if we look back - we would no longer market or sell?

As you can see, in product marketing, you need to look at your products from a strategic perspective to ensure that they are successful with customers in your current market.

Your responsibilities as a marketer can vary slightly depending on your industry, company, product, and company size and resources. If you work for a startup, you might be a marketer who, due to limited resources and budgets, also helps create the content that the broader marketing team creates. As the business grows, you can move on to a team whose only job is product marketing.

Product Marketing Responsibilities

Let's take a look at six general responsibilities for product marketing.

1. Identify the buyers and the target audience for your product.
You need to identify the buyer personalities and target audience for your product so that you can target customers in a way that convinces and drives them to make a purchase. This allows you to tailor your product and its features to the challenges your audience is facing.
Use templates to create buyer personalities for your business.

2. Create, manage, and successfully execute your product marketing strategy.
You can use a product marketing strategy to create and run content and campaigns. This supports the steps that drive your buyer personalities and customers to buy.

3. Work with sales and enable them to get the right customers for your new product.
As a marketer, you need to have a direct relationship with sales. They work with sales to identify and attract the right customers for each product, and provide sales reps with promotional materials to ensure they understand the product, inside and out, and all of its functions.

That way, you and your teams are on the same page when it comes to sharing with customers, so you can deliver a consistent branding experience to everyone who comes in contact with the product.

4. Determine the positioning of your product in the market.
One of the most important parts of your job is determining the positioning of the product in the market. Think of this process in terms of storytelling - your positioning requires you to create and tell the story of your product.

As a marketer, you'll work with the broader marketing team and product team to tell the story by answering critical questions like:

Why was this product made?
Who is this product made for?
What challenges does this product solve?
What makes this product unique?

5. Make sure your product meets the needs of your target audience.
You also need to make sure that your product meets the needs of your customers and target audience. Through the research that was done to identify your buyer and target audience, you should have uncovered the weaknesses and challenges that you are working on with your product.

If your product doesn't meet the needs of your customers, they have no reason to buy or prefer your product to that of your competitors.

6. Keep your product relevant over time. Your product needs to stay relevant over time.
As needs, expectations, and challenges change and evolve, it is your job to ensure that your product marketing strategy and the products themselves remain relevant to customers.

This means you may have to manage minor changes in your product marketing strategy or updates and changes to the product yourself.

Product marketing strategy

Your product marketing strategy serves as a guide for positioning, pricing, and promoting your new product. It helps you to accompany your product from development to market launch and gives you an overview of which new target groups and markets you can open up for your product.

Now let's look at five steps you can take to optimize your product marketing strategy.

1. Define the target group and the buyers of your product.
As mentioned earlier, one of the main tasks as a marketer is to define a specific audience and create buyer personalities for the particular product being sold (different products have different audiences). This is the first step in marketing your product.

When you understand your customers and their needs, challenges, and vulnerabilities, you can ensure that all aspects of your product marketing strategy are tailored to that target customer. That way, the product and the marketing content created for the product will resonate with your audience.

2. Determine the positioning and communication to make your product stand out from others.
‍After doing your customer research and learning more about your target group, you have identified their needs, challenges and weaknesses. From here, you can start thinking about how to make your product stand out in a way that solves the challenges for your customers.

The key to differentiating your product lies in its positioning and communication. Positioning and communication answer important questions your customers may have about your product and what makes it unique.

It's your job as a marketer to make sure that your customers and audience know the answers to these questions, and not have to search for them (or make assumptions about them).

Examples of questions you need to answer in order to improve the positioning and messaging of your product are:

What exactly makes our product unique?
Why is our product better than that of our competitors?
Why are the features of our product ideal for our target audience?
What will our customers get from our product that they can't get from our competitors' products?
Why should our customers trust and invest in us and our product?

Once you have answered these questions, you can summarize those answers into one meaningful and shareable statement that captures your positioning as a whole.

Tip: As a marketer, you should make sure that the sales, product, and (the broader) marketing teams are also aware of your positioning and messaging around the product so they too can convey the same information to potential customers and current customers. In this way you can ensure that the entire company remains congruent in terms of content and information.

3. Set goals for your product.
Next, you want to set goals for your product. These will depend on your specific product, the type of business, your general marketing goals, and much more. Your goals are specific to your company and your situation.
That way, you and your teams are on the same page when it comes to sharing with customers, so you can deliver a consistent branding experience to everyone who comes in contact with the product.

4. Determine competitive product prices.
Competitive pricing means that you are basing the price of your product on the similar products your competitors are selling.

5. Start your product sales.
Now it's time for the most important part: introducing the product that you have marketed.

The start consists of two main parts that you need to focus on:
the internal start (what happens in your company when the product is launched)
and start the external rollout (what happens outside of your company to customers and viewers on the product).

Internal aspects of the product launch
As mentioned earlier, you need to make sure that the entire organization is on the same page about your product. This way, your customers only get consistent and accurate details about the product.
Your company's marketing, product, and sales teams should be aware of the following information:

- The advantages of the product
- All available product demo information
- Sales training opportunities for your product and details on how to use it
- What the positioning and communication look like
- Who are your buyer personalities and ideal customers?
- What the goals for your product include
- What are the characteristics of your product?
- The pricing of your product
- How your product is introduced to customers

External aspects of the product launch
Externally, there are many ways to market your product launch so your current customers, prospects, and target audiences know what you are selling.

First, determine where you want to focus your marketing. Here are some examples of channels and places you can do this.

- social media
- Product events
- Blog website
Landing page
- Exclusive product preview (before the official launch)
- Promotional event / campaign (in person and / or online)

Whichever channel you choose, be sure to include relevant product information so prospects and customers know everything about your product and why they need it. This includes your product's features, what makes it unique, pricing, demos for customers, training for customers, and any other material you have created and want to share.

Remember that this process should be considered and updated as your products change and evolve so that they remain relevant to your customers.