6 Important Elements in Product Marketing Strategy You Need to Know
Businesses or companies tend to exert more effort to market their products through various Product Marketing Strategies. They design fancy logos, set up email marketing automation programs, and launch attractive websites. But without a strong product, efforts to build your business brand will be in vain.
It is common to hear from several businesses that launch new products and end up failing. Why? This failure can be caused by the following factors:
- Lack of understanding of market conditions.
- Lack of understanding of customers.
- Ineffective communication.
- Ineffective Product Marketing Strategy.\
It is important to focus on fixing those failures given the many parties involved and so much time and money you are investing in a new product in your business. You don’t want to spend all your time and energy focusing on building a business brand that ends in vain.
A successful product requires a successful Product Marketing Strategy. That means you need to make sure your business products meet customer needs and satisfaction and place them on the market appropriately.
6 Important Elements of a Product Marketing Strategy
Here are six essential elements for building and developing a Product Marketing Strategy:
The first step to developing a Product Marketing Strategy is to make sure you have a strong product. Before even strategizing, you need to make sure the product is made with target customers in mind and whether the product is in line with their needs.
People tend not to want to just buy things, but they want the things they buy to solve their problems. So, ask yourself what problem could your product solve for the customer? How will the product make the customer’s life better? Answering these questions will help you determine the right message for your product marketing campaign.
The value that is put in your product is more important than the ability of the product itself. In other words, you should focus on the benefits of your product rather than on the features. Later, each feature must be developed for a purpose that will provide benefits/benefits to customers. You must have an innovative product or at least one that solves common business challenges.
Just like products, you also need to focus on your customers or potential customers. To do that, you have to understand them. Characteristics, traits, behaviors, and more are the key to understanding customers.
Start by doing research and gathering any information about your target customers, such as:
- Marital status
Better yet, interview your customers. Arrange phone calls or meetings with customers and ask them about their preferences for your product. Listen to the way they speak and the language they use, this can help to shape the narrative of your Product Marketing Strategy later. Any information that comes from customers can help in uncovering your customer’s preferences and the best way to market your product to them. After all the information has been gathered, start building a buyer persona on the product you are going to market.
In your research, you may find some patterns in common among customers. These similarities can be grouped to help create buyer personas or archetypes of what your ideal customer looks like and how they behave. This way, you can focus on marketing to one type of buyer rather than all of your customers – which is inefficient.
You certainly need to communicate with your customers. Because according to some research results related to product marketing, 57% of consumers feel confident when they connect emotionally with a brand. And of course, this emotional connection is built through the messages you convey regarding the products you market.
Your product message should be narrative. Because narration is the easiest way to get your customers to connect with your product. You can write articles on blogs and take advantage of the Search Engine Optimization (SEO) feature so that inspiring articles related to your business products can be found easily on the internet.
To create an effective story or narrative, you need to identify the unique selling proposition of your product. Basically, What are the main values you want to convey to customers?
4. Marketing Team
Developing and promoting a product requires effort and teamwork. However, keeping several teams on the same track consistently is not an easy task. The product marketing team must act as a bridge between sales, marketing, methods, and development.
With so many parties in a team working on a single project, it’s easy to get miscommunication and disorganization that will thwart the progress of your Product Marketing Strategy. Make a product plan and roadmap so that all parties involved in the team can work in harmony and synergy.
The product roadmap provides a summary of the entire product marketing plan and guides the team on what to do and the results at each step of the process. With a roadmap, you can maintain visibility across the project and make sure everyone involved knows what they are working on.
Having a solid product and a well-thought-out strategy is not the end of your job. You can’t expect customers to flock to your product if they know nothing about your product. Therefore, you need to convey the news through strategic promotions.
Your promotion plan should elaborate and convey your product message to customers promptly. If you’ve done your research and built your buyer persona, you shouldn’t have a problem identifying your target customer.
The timing for executing product promotions is also very important. You have to research the market as a whole. As in what season is suitable to start promoting your business products. In essence, you need to make sure that you have a strong fit between the market and the product.
You cannot directly expect your Product Marketing Strategy to produce perfect results. The worst possibility or risk of failure should be considered and tracked. From there, all you have to do is evaluate the marketing performance of your product. This analysis process is important so that the Product Marketing Strategy is truly effective.
After you have implemented your promotion plan and your product has been marketed, you need to review it to find out how successful your strategy was. Take a good look at the possible error points. And adjust your strategy in the future from the analysis results that have been studied.
By understanding these six elements, it is hoped that your business Product Marketing Strategy can run effectively and efficiently. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and provides you with multiple options for marketing your product.