What is Product Marketing?
Product marketing is the process of bringing a product or service to life through promotion and selling tactics to influence purchases. To be successful, a product marketer needs to understand their target audience and use strategic positioning to generate demand for the product.
As one of the most important aspects of business marketing, product marketing focuses on delivering a demand for a product, aiming for it to be adopted by existing customers. A product marketing campaign is built around the step by step process customers take to purchase a product from launch to transaction. To truly speak to the target customer, a product marketer needs to have a deep understanding of the consumer to be able to create strong brand affinity to the new product. This will rely on the marketer's ability to position a product in an appealing way to the ideal customer.
Why is Product Marketing so Important?
Product marketing helps a business to understand the motivations a consumer will have behind buying a new product. Sitting at the centre of the marketing, sales, and product teams, a product marketer will manoeuvre selling points of the product to the forefront of messaging to capture the most interest from their consumers and influence their buying process. In the launch of a new product, these marketers deliver strong consistent messaging behind all of the company's content throughout the promotion. Without this consistent brand messaging it becomes harder for consumers to recognise brands and maintain brand affinity with the company and its products as they have to rebuild their understanding of the values that lie behind the business time and time again.
When executed successfully, product marketing can boost revenue and improve sales. This ongoing process of product development and remarketing to retain interest from the desired audience in time will help create a successful product, and this will then develop into a product that can be spread through Word of Mouth and recommendations, once more increasing the marketing ROI as less is spent proportionally to customer acquisition.
Responsibilities of a Product Marketing Manager
Dependant on industry and company needs, the responsibilities a of a product marketer may vary. This will usually implicate the scope of responsibilities and the length of the process that you're evolved with due to resources, for example, a product marketer at a start-up or smaller organisation may be more involved in the creation of the content with the broader marketing team as a cost-effective solution. In larger organisations this position is usually solely focused on product marketing and designing the message to attract purchasing customers.
Key responsibilities include:
Identifying buyer personas and target audience for the product
Create and implement product marketing strategy
Enable sales to reach and attract the desired customers
Establish product position in the market
Showcase how the product meets the customer's needs
Retain product relevance
The Future of Product Marketing
The broad reach of a product marketer throughout a business means that the evolution of this position relies on their ability to integrate into other teams and communicate consumer need. As personalisation enters the marketplace strategic steps need to be taken to add value to the customer journey and create a more tailored experience to loyal customers. Currently this is successfully being done through product suggestion when consumers are adding to their baskets, prompting rebuying of consumer goods, and a personalised digital experience when people enter an online marketplace.
It seems that product marketing is just at the beginning of this journey into personalisation and innovation lies ahead to truly tap the power of giving customers a bespoke online experience.