What is Product Marketing? – Critical Steps, Example, and More
What is Product Marketing?
Product Marketing is a research procedure, promotion, and sale of a product to a particular market.
This process is responsible for ensuring that the correct people gain knowledge about the product in question and are clear about the procedure for its use.
Product marketing includes listening to the needs of consumers throughout the product life cycle.
Knowing their consumption habits, interests, behaviors, and even their day-to-day life is essential: what is the product without the potential people who could buy it?
Critical Steps in Product Marketing
To better understand this concept, there are some critical steps that, once the target audience is known, can be applied:
1. Product Research
- A product does not make from scratch, nor is it marketed from scratch.
- Months or even a year before launch, marketers must attend the product development process or be aware of what this process is like; thus, it ensures that the messages transmitted will start from the truth.
2. Product History
- Since when is it made?
- What problems does it solve?
- What needs does it satisfy, and who or who is satisfied?
- Why is this product seeking to solve problems?
- All of this should be very clear before the promotion.
3. Product Launch Plan
This process and those responsible must be in writing. As part of this plan is the content, a key point to communicate the product’s benefits and educate the market.
A good content plan should include, among others:
- Social networks.
4. Launch Meeting
- To celebrate when the product is launched, such as when a rocket launch into space, the whole team should be together and give impressions about it.
5. Community Involvement
- After the product launch, it is vital to gather comments generate around it; for example, influential people talking about what is on offer.
6. Coordination with Sales
- Before, during, and after the product launch, the sales and marketing teams must frequently communicate; a Smarketing technique would be great here.
Examples of Successful Product Marketing Campaigns
Some brands have managed to win their audiences’ hearts with marketing campaigns for products that make them desirable at the price that they ask.
They are between them:
- Apple is undoubtedly a giant in many ways, but its product marketing is exceptional because it sells a more practical lifestyle.
- In doing so, they have perfected the art of translating features into customer benefits.
- For example, your operating system updates are hundreds of new features that you could try.
- Instead of talking about it in your promotions, the message is clear: iOS 9 is about helping you do more every day and be more productive.
- Apple keeps its message focused on benefits and the user at the center of everything it says.
- In addition to using Newsjacking, that is, taking advantage of current news to market itself, this dark chocolate cookie evokes emotions every time it delivers a promotional message.
- They wonder what their audiences would imagine eating an Oreo and what they would be capable of it.
- So knowing your audience well is the foundation of your product marketing and producing emotions through your messages.
- Eating a cookie can be anything, but eating an Oreo is quite an experience.
- With Volkswagen, exclusivity sells through personalization, and that is what customers expect when purchasing a product that can consider valuable.
- Volkswagen invites its audiences to dream of a car, allowing the personalization of vehicles on its website; that is, people can design the car of their dreams, the colors, seats, tires, etc.
- Although the designed cars are not for sale, Volkswagen sends an email to the user who has created it from the nearest dealership with a vehicle similar to the one the client projected.
What Works in Product Marketing?
Product marketing works to create an action plan that focuses on the product and allows the products to market for what they are.
To do this, you can put some of these tips into practice:
1. Create People
- When defining your target market, you must create a customer profile.
- You can have the best product globally, but you won’t be successful if you don’t reach the end-user.
- There is the importance of understanding exactly who you are addressing.
- You do not only need to be in communication with your final consumer; you must also keep in touch with your team.
- It would be best if you worked closely with the project management dashboards from start to finish.
- Please don’t wait for your product to manufacture before marketing it; Start planning now!
3. Actively Listen to your Sales Team
- This team interacts with your target customers day after day, so you have a clear idea of what they want.
- They can likely help you understand the trends in your market or niche.
4. Pay Attention to Customers
- However, it would help if you didn’t leave everything to your sales team.
- Go straight to customers and hear them out for yourself!
- Take surveys and collect enough feedback to make adjustments and optimize your product marketing.
- In product marketing, it works very well to keep customers happy. On the contrary, neglecting customers after selling the product is a mistake that should not make.
- After launch, an incredible product marketing strategy means nothing if your customers are unhappy with your brand and unwilling to buy from you.
- So cultivating personalized experiences works best.
- You can create strong relationships that strengthen brand loyalty, reduce customer churn, and ultimately create brand advocates that will increase revenue in the long run.
- Nothing advertises your product better than a satisfied customer.
- Create memorable experiences, so your customers stay loyal to you.
Is Luxury Product Marketing a New Gold Mine for Companies?
- Most people like exclusivity, feeling that what they consume is unique and that, therefore, they are special.
- The marketing of products does not sell them as such. It sells the fantasy and the desire of many to leave their routine comfort zone and move to another area where the most profound wishes come true.
- Going through the four Ps and the Product being the first, the value proposition in luxury product marketing goes beyond the functional benefits of what sells and focuses on the emotional benefits.
- In this way, the touch of emotion means that Adidas does not sell shoes, but the feeling of achieving a sporting goal; It sells the way that artists enjoy their daily activities using this product.
- Functionality then becomes a secondary benefit while continuing to lose its importance.
- It means that many people do not pay special attention to the price.
- Therefore, when marketing luxury products, lowering the price to increase demand is not an option.
- The price is another aspect that gives the product exclusivity; that is, everyone cannot quickly acquire it.
- Regarding the distribution of the places, a luxury product cannot be in any area for all to see, which gives it another emotional and exclusive touch that makes people want it even more.
- Talking about the promotion of luxury products is not talking about messages that show the creative solution to a problem, but about messages that produce the desire to have it.
- Therefore, the marketing of luxury products is not for all companies.
- However, it uses representations so that a product that may seem simple is desired, to the point that the public wants to buy it at any price and is the only place where you are.
Product marketing does not rest after a launch; it is your duty to ensure that you get good feedback from users and meet their needs by perfecting offers.
The more personalized creation is, the more desired it will be; A clear example of this is Coca Cola with its personalized cans with names.
Within days, this went viral, and people were uploading photos of these beverage containers with their names on them.
- KNOW MORE:- smartmores
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