As a business or startup, you may be wondering what product marketing is and how it can benefit you. Product marketing is the process of creating demand for a product or service through education and promotion, and it includes everything from market research and target audience identification to product development and launch. In other words, product marketing is responsible for taking a product from concept to reality by getting getting potential customers interested in what you have to offer.
Product marketing differs from other types of marketing in a few key ways. First, product marketers are generally focused on a single product rather than an entire lineup of products or services. Second, they are responsible for understanding both the customer and the competition. And finally, they must be able to see the forest AND the trees in that they need to be able to take a big-picture view while also paying attention to the details.
But how do you do product marketing? If you are not sure where to begin, you are not alone so here are five tips to get you started with product marketing:
1. Know Your Target Market
Before you can start marketing your product or service, you need to know who your target market is. You need to who you are trying to reach with your advertising, and what their needs and wants are? Once you have a good understanding of your target market, you can begin developing a marketing strategy that will appeal to them. Two books I highly recommend for getting product validation and discovering the target customer are ‘Will It Fly‘ by Peter Flynn and ‘The Startup Owner’s Manual: The Step By Step Guide for Building a Great Company‘
2. Develop a USP
In order to stand out from the competition, you need to have a unique selling proposition (USP), all called a value proposition. What makes your product or service different from what else is out there? Why should potential customers purchase from you instead of your competitors? Answering these questions will help you develop an effective marketing message. And remember, if your 5 year old son or your grandma who doesn’t know potatoes about business can’t understand your business and/or what makes it different in a 2 to 3 lines, it doesn’t count!
3. Focus on Benefits
When crafting your marketing message, make sure to focus on the benefits of your product or service rather than features. For example, if you’re selling a new type of toothbrush that is gentle on sensitive gums, don’t just list the features of the toothbrush (e.g., soft bristles, ergonomic design). Instead, focus on how those features will benefit the customer (e.g., less gum irritation, more comfortable brushing). This customer centric has been the key to Marvel’s success in recent years. There’s even a term for it in showbiz — fan service.
4. Create Engaging Content
Nowadays, potential customers are bombarded with advertising messages left and right. In order to cut through the noise, you need to create content that is truly engaging. Whether it’s a blog post, an infographic, or a video tutorial, make sure your content is informative and entertaining. If it’s not, chances are people will tune it out entirely. You need to find a way to cut through the noise.
To this end, Brendan Kane’s book on how he gained a million followers in thirty days is a great resource when it comes to learning about the ‘art of virality.’ You should also follow his Instagram channel where he breaks down the science behind the most viral videos on social media.
5. Test and Measure
Finally, once you’ve implemented your product marketing strategy, it’s important to test and measure its effectiveness. Try different tactics and see which ones produce the best results. Then double down on what’s working and ditch what isn’t. By constantly testing and measuring, you can fine-tune your approach and ensure that your marketing budget is being well spent.
Product marketing can seem like a daunting task, but it doesn’t have to be. By following these five tips, you’ll be well on your way to promoting your product or service effectively and generating demand among potential customers.