Basics of digital marketing - Product Research and Product Marketing
If one follows obsolete marketing manuals that offer contradictory explanations to what is applicable in digital marketing, one could say that product marketing is linked to the product itself, that it is based on sales or that it is a link between the company and the outside world.
But often the best products are designed around the market and the needs of consumers. Product marketing brings the commercial dimension to the product before any time it is put on sale and sometimes even before everything is finalized.
Product marketing is the process of finding, promoting and selling a product to a customer. It is a branch of digital marketing that aims to find the right customers for a particular product and to create an attractive pitch for those customers.
Product marketing uses a combination of research, design, and product visibility through effective SEO using your website, to make a product successful. It is not a specific marketing strategy, but an essential aspect of many strategies that maximize the potential of a specific product.
The product marketing policy of a company is part of a marketing strategy, determined upstream, which aims to frame all policies, including the product offer. It helps to fix all the variables that characterize the offer made to potential consumers, in the same way as the other elements of the marketing mix, such as the distribution policy, the communication policy and the pricing policy.
Product marketing doesn't stop once the product hits the market. The process of marketing a product lasts long after its launch to ensure that the right people know the product, that those people know how to use it, and that the needs and comments of those people on your websites are taken into account throughout the product lifecycle.
When a business wants to educate potential customers about a new product or increase awareness of an existing product, it needs to determine who would want the product, how much is it willing to pay for that product, and what consumers consider its best characteristics.
Product marketing is also effective when companies want to expand their product line or gain market share on their existing products. For example, consider a foam-producing bath accessory primarily sold to women. By using dark or neutral colors and referring to the same item under different names, the company producing this accessory could appeal to the demographic of adult males and increase their sales.
A product marketing campaign involves more than just market visibility; it involves several stages, from research to launch. Before embarking on any campaigns, marketers should first understand the product being offered, its essential features and cost of production.
Product marketers take on many responsibilities that involve working closely with product teams and other marketing functions.
When product marketers work collaboratively with product teams, rather than focusing primarily on marketing strategy, the product is more likely to be commercially successful.
Product marketing is important
Product marketing is an essential part of any business marketing strategy. Without product marketing, your product will not achieve its maximum potential in the market. Product marketing helps you understand your customers and their frequency of purchase. It allows you to target your buyer personas and teaches you about your competition (products and marketing tactics).
It also allows your marketing or web-marketing teams of your company to be all on the same wavelength in order to position your product well on the market and thus increase your sales.