Basics of Product Marketing

What is the role of product marketing — Product marketing plays many roles at ones like, product positioning, understating competitors, determining the target audience, aligning buyer journey, and defining product benefits. Product marketing helps in increasing brand visibility, also guides in reaching the correct audience.

What are the important elements of a product marketing strategy -Some of the most important components of a product marketing strategy include:

· Product

· Target market

· Competitors

· Messages

· Tools

· Analysis

What are the KPIs for measuring the success of product marketing — There are many parameters to judge your product’s success. Here are a few key performance indicators that could indicate the success or failure of a product marketing strategy for SaaS businesses.

· Number of qualified leads

· Count of potential conversions

· Prevalence of purchasing actions

· Product utilization metrics

· Customer lifetime value (CLV)

· Customer feedback

Why is product marketing important

Product marketing is crucial as it helps marketers to launch products according to the needs of their target audience. It is a concept that is dependent on the relationship of the product marketers, their audience as well as the audience’s needs.

Product Marketing for 2020 and Beyond — Considering the unprecedented situation, the entire world is facing right now, uncertainty is at its peak. However, businesses are not going stop producing products neither are people going to stop investing in them. The only way to make strides is to tactfully plan and execute product marketing activities that would continue to bring in business. Mentioned below are some key takeaways that would simplify product marketing management and help promote customer success:

· Make the buyer persona the basis of all your product marketing activities

· Prioritize content as an outreach strategy for promoting your product

· The BDA strategy should have only one goal i.e., sales enablement

· Market your product the way your customers would like rather than how you like it

If you are still confused as to how to go about with your next product marketing strategy, then you should contact a Deck 7 product marketing expert today!