In the previous era, the marketing plan for a particular product is so simple, which can quickly drive business sales. The businesses need to elaborate on their product specialty by comparing it with competitors. It means where you can spend more on launching commercials where the celebrities or consumers involved to define your product. Product marketing is not just selling the product, and it is building customer trust.
Today the customers are, and they are finding everything about the product. Hence, it became a tough task for the brands to reach customer expectations.
Now the internet of shopping for entertainment has become their world where they can find complete information on products. It’s giving high competition to the small scale to large scale businesses.
Moreover, there are plenty of social media channels arriving where we can find audience engagement. Previously the brands stick to TV, where there is no other source to see the real-time customers.
There are many working ways like live chats, mobile apps, mobile ads, web, and emails, etc.
Why did we need to discuss this topic?
Do the product marketing teams have revenue targets? Is it seems to be over-headed?
The product value weakening things takes place on messaging, and competitive position statements lead to having low deals and reduced win rates.
This results in disappointing revenue performance. Here we need to interlock the product management and product marketing to drive the high rate of return on investment (ROI).
What is Product Marketing?
Product marketing is nothing but where the number of marketing efforts takes place, particularly in driving sales of products or services along with very high demand.
Most probably, in the place of post product development, the actual product comes to the screenplay.
The product marketers play a vital role in collaborating with product marketing teams and other multiple marketing functions.
How to do Product Marketing?
The brands should be in touch with the customers and customer interacting teams.
To do this, the marketing teams need to collect the data by gathering the closed-lost data, especially from sales, industry trends list, prioritize feature requests, and conversion trends.
Identifying the audience:
The audience is the most important character to launch effective product marketing and where they involve in converting themselves to paying customers.
To do all this, you need to figure out the audience who are mostly looking for your products and who are most willing to buy. This strategy helps you create the most engaging story that makes sales.
Find your Product Distribution Channels:
- Product distribution channels can be the medium through which the product business takes place between the manufacturer and customers.
- These channels are social media platforms like Google, YouTube, Twitter, Instagram, Snapchat, and Facebook, etc.
- These platforms are brand ambassadors that elevate your products at the millions of audiences at a single click.
- Most recently, TikTok is the viral influencer marketing channel where millions of active users are enjoying it.
- While comparing with television ads, these social media platforms will cost less amount to launch the ads.
- The marketers must analyze each of these platforms in which type of content goes viral. The product marketing team should make unique strategies to launch effective ad campaigns.
Competitor research in the product marketing works as an excellent weapon to find the useful features and tactics that one should need to let the consumers involved in buying and narrating a sales-driving story.
Which type of marketing strategy works better and how your products can give high competition to the opponent can be found.
Also, which type of content can hold the audience to look back at your product site can be known here.
Planning a product launch is the main tactic that never bounces. While attempting to pre-launch your product, make it distribute its story through ebooks, demo decks, landing pages, and social media posts.
When your product is ready to launch in the market, then build brand awareness through press releases, event marketing, and live telecasting on social media, establishing a Facebook business page and influencer marketing, etc.
Post-launch the product by collecting customer reviews on the product; either it may be positive or negative; both should be considered.
Listening to customer feedback and making amendments to the product shows good sales as you are giving more priority to the customers.
Listening to the Sales Team:
As the sales team has much interaction with target customers, they can have a good idea of what customers are looking for.
Having a good conversation with your sales team will help you find the ongoing trends in the market.
We can see millions of competitors who are selling their own or reselling sites on the Google search.
It is useful for you to find information, including the price, detailed listings, and customer reviews about the products, etc.
The focus on the competitor website will help you to find potential customers.
Competitor Social Media Buzz:
Most of the brands link their product website to social media pages through which they can direct the audience to visit their website.
You must have a frequent look on such pages to know how many followers they have, what type of content they post, and how frequently they post, etc.
Eye on competitor social media activity helps you build the audience engagement with most compelling product stories.
Even you can find whether they are selling their products through Pinterest buyable pins, shoppable Instagram posts, Facebook shops and Google shopping, etc. as you can go ahead of trading on those platforms.
Role of a Product Marketer
In both the B2B and B2C industries, we can find the task of product manager. They initially start as a product marketing specialist, move to market manager, then to the senior marketing manager, and finally move to product marketing director.
Most of the companies used to skip the role of the specialist and start with the task of a marketing manager.
The product marketing manager plays a vital role in finding and communicating information about new products with the organization.
Also, it finds the best ways to deliver the product’s message and brand benefits to the consumers. He or she will lead the entire marketing team.
Online Product Marketing Trends
The advertising in which Artificial Intelligence techniques like machine learning helps to market the products.
Through this, the image processing and Natural Language Processing are possible.
AI is most important in product marketing to generate content, to gain higher rank, and to build smart promotions.
The virtual objects placed in the real world can be seen by using the concept of Augmented Reality (AR).
The recent commercial of IKEA has gone viral on social media, where it uses Augmented Reality to visualize the furniture that gives much more entertainment to the customers.
Virtual Reality (VR):
Using the Virtual Reality concept, one can provide the immersive experience to the users.
Through this VR technology, you can demonstrate product attributes, let the customers choose more choices by providing more information. Moreover, the brands can elaborate the story of their products in an innovative and immersive way. It is mostly seen in the video gaming industry.
Internet of Things (IoT):
The Internet of Things, like smartwatches, smartphones and coffee makers and cars, etc. can be used to display your product marketing strategies.
Why is Product Marketing important?
In any business marketing strategy, product marketing plays a vital role as it helps to add the potentiality of products to reach the target audience. Let’s have a look at what product marketing is going to do in the life of the business brands:
- Better understanding and serving your customers.
- Effective targeting of buyer personas is possible.
- Analyze everything about competitor performance in the market.
- They are confirming that all marketing, sales, and marketing team are on the same track.
- Appropriate positioning of products in the market.
- Improve sales and revenue of the business.
Powerful ways to market a product
Create the product story:
Many businesses only stick to selling the product that they are looking for in the product marketer rather than experience. Create the story of the products that could be the perfect solution for the customers intended in.
The business brand reality should meet the expectations:
Most of the business brands fall in launching effective campaigns that are entirely different from reality and expectations. This is what the customers are looking for.
Keep an eye on competitors in the market:
Always monitor the competitor business activity that includes the strategies and trends they follow to capture the audience in the global market—plan marketing strategies to beat them.
Serving the existing customers:
Marketing the products and services to the existing customers plays an important role where they can make recommendations about your products to their family and friends.
Try a new brand name for new products:
As we can’t eat the same food every day in such a way, the customers want to try something new and trendy. Adding trendy and eye-catching brand names to the latest arrived products can find customer attention.
Give exciting offers that build trust:
Just providing the offers will not make the audience turn towards your brand though it happens it wouldn’t drive sales.
Product marketing begins with understanding the customers. You always think about the customers as you are one of those customers. Still, properly check the internal process of making and launching of the product. The most epic thing is that the brands should have experienced hands-on social media platforms where they can find millions of customers.