Product marketing starts before the product is born or when the product is in its embryonic stage. Marketing is the homework that the company does to identify the needs of people and devise what the company should make. A company launches a product and then within a span of a week or a month, it starts pulling a tide of customers because of that product. This success doesn’t come due to the physical quality of the product but ‘a killer product marketing strategy. Product marketing strategy touches every department in an organization, ranging from design and engineering to sales and distribution, and lies at the junction of product, sales, and marketing. This not only means that the marketing strategy can have a huge impact but also means that building and executing a successful marketing strategy can be a huge challenge.
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Here are some key pillars of a successful marketing strategy:
Strong relationships and synchronization
Product marketing is an extremely mutual and collaborative discipline that requires the dedication of multiple teams in an organization. These teams need to cross-function in a mutual way and in complete synchronization to see any results bearing fruits. So, it is very important to build strong relationships with all your teams – be it sales, product, or fellow marketing professionals.
Understand your customer and market
It is very important to know who your customer is and what’s your target market. It becomes highly crucial to find for whom you built the particular product, benefits or feature of the product and how is that going to impact them. Your product marketing becomes more targeted when you know your customers well. So, it is always considered to be effective to reach a highly specific segment of the customer with a message that sounds real to them.
Extensive use of digital marketing to create awareness
Today, no marketing strategy can be completely successful without digital media. So, for effective marketing of the product, plant the seeds on social media or various platforms through provocative and thought driven content. Digital strategy executed through blogs, ebooks, web, mobile, Facebook, Twitter and LinkedIn can bring a great change to the business of the organization.
Analyze your value
It is a very important product marketing strategy to let your customers know that what is the ‘X’ factor of your product or service. It becomes very crucial to understand whether your product or service is benefitting your customers. This helps you stand ahead of your competitors always and leads to the growth of your business.
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