An Introduction to Product Marketing & Role of Product Marketer in Business Growth
Product Marketing is a planned advertising function that overcomes the space between marketing communication and product management. Moreover, it covers processes like the positioning of a product, launching, messaging, and ensuring that buyers and salespeople recognize the product. In simple words, product marketing helps in introducing a product to market.
Companies have modified the description of product marketing. However, the term is new and companies prefer to modify the role according to their needs. It is the reason; a product marketer needs to be adaptable and flexible. In this regard, the leading role of the product advertising manager is to identify and size target value propositions and target markets. Whatever is the nature of the product, the product marketer must be
- Product expert
- Market expert
- Customer expert
The Product Marketing Role
A product marketer has a deep understanding of the market as well as the target buyers. Indeed, he gives value to external and internal audiences. It is necessary for a product marketer to know the feelings and behavior of customers and inform the internal audience (stakeholders in the company) about buyers’ reactions.
Product marketing directly depends on the growth of the organization a marketer works for. Comparatively, the buyers are the external audience. Moreover, the product marketer manages and makes the product understandable for consumers. For this purpose, the Product team gets the support of the CS team, Sales and Marketing strategies. Side by side, the peripheral analysts and investors also act as part of the outside audience.
Early Stage of Product Marketing
There is no specifically defined procedure and team for an early stage business. The company and product marketer needs to do a lot of things and research in detail about the market and perfect customer character.
Side by side, a product marketer requires being an expert and designing the best strategy for the features and the product itself. Building and developing content is also part of your job. It is important to place a product according to buyers’ feedback. While verifying the position, it is necessary to establish a storyline for upcoming processes. At this stage, internal communication covering all applicable stakeholders is required.
Developed Companies and Nature of Product Marketing
The products of developed companies are not unfamiliar to buyers. In fact, they have already given the feedback. Now, the responsibility of the product marketer is to utilize the feedback and develop a viable intelligence program. It is the time to promote the target audience and understand deeply the persona of your customers. This is the best way to bring changes in the product as per the customers’ desires.
It is part of your job to keep in touch with stakeholders and give value to customers’ achievements and sales. For this purpose, create different materials to show the product in an understandable way so that the CS and sales team use these materials while communicating with buyers.
As the company is already growing, it’s time to make sections of the market and find out the ways to expand the product. At this stage, the product marketer is also involved in keeping the revenue record and developing the product roadmap.
Mature Companies & Nature of Product Marketing
A product marketer for a mature company focuses particularly on partner marketing as it is necessary to find techniques for product competencies.
In a mature company, it is useful to understand the metrics deeply and figure out ways involved in customers’ expedition. Marketing at this stage is connected to buyers’ retention and learning new ways to amuse loyal customers. This strategy is equally important for early-stage and growth companies as well. In the end, an analysis is carried out covering win and loss along with figuring out the reasons behind the loss or win deals.
Different Teams Alliance with Product Marketing
A product marketer works among various teams; therefore, the way to interact with different groups impacts their success level. Here are some ways a product marketer should communicate with multiple teams:
1- Product Teamwork & Product Marketing
Product marketer contacts frequently with the product manager and performs various things in collaboration with the product manager, including the formation of a product roadmap, and analyzing and structuring of the personas.
Research of a market is necessary for the product marketing team as well as the product. After completing the product commences cycle, the product marketer carries out a loss/win investigation to understand things in a better way. The concluding result comes with an improved product matching the requirements of customers.
2- Buyers’ Success Cooperation & Product Marketing
The success of customers gives the best product outcome. It is the reason, buyers’ needs, desires, and problems are necessary to share out. CS team gets training for supporting better products than marketer competitors. Buyers’ success in collaboration gives way to high client retention and more contented customers.
3- Sales Teamwork & Product Marketing
Potential customers communicate with the sales team and provide them with valuable information, covering their problems. With the help of satisfactory content and product guarantee, the sales team can convey the product to buyers rapidly. Always ensure that the sales team is working in collaboration with the operations of the product team.
In case of ineffective collaboration, train the staff and support them in understanding the product. Both teams need to work together and highlight the buyers’ experience and the values specific product is conveying to customers.
4- Marketing Team Partnership with Product Marketing
In fact, the marketing team is a significant stakeholder that supports the product marketing team in messaging, product positioning, and verifying how to utilize it in remunerated campaigns and relevant activities. Both teams work on content creation, measuring KPIs, and using cases. Furthermore, team collaboration helps in resolving the pricing plans for given products.
Metrics for Product Marketing
Metrics vary from one company to another. These rely on the preset objectives. It is important to bring into line the company objectives with the goals of product marketing. In other words, if your company’s objective is to receive 5000 users by the Q2 end, it is necessary that the characteristics of Q2 must support the company to achieve the goal.
The measures are not always in quantitative form. There are qualitative metrics as well. Product marketers can measure the below-mentioned metrics:
- Revenue
- Results of campaign
- Feedback of clients
- Leads
- Percentage of Feature adoption
- Users’ number
- Content usage
- Percentage of clients’ retention
- NPS or Net Promoter Score
- Market share
It is not possible to get all these metrics. Some metrics are calculated on an organizational level. The metrics, as mentioned earlier, are measured with team support. Always show a responsive attitude towards these metrics and make it certain to utilize your activities to achieve the company’s goals also.
Product Marketing Expertise
- Last but not least, a product marketer must have some skills to accomplish the target. First of all, they must have the capability to carry different hats. The job of a product marketer is dynamic and changeable. You need to work with copywriters, CMOs, PMs, performance marketers, and developers and communicate at all levels. It is the reason; a lot of product marketers are basically the generalist and have done a variety of marketing tasks therefore competent enough to deep-dive.
- It is necessary for a product marketer to be an impressive writer. Product marketers are great writers. Obviously, they are not professional writers; however, their writing skills support them in becoming the best product marketer.
- Product marketers are proficient to interpret complicated ideas into simple content. Moreover, a product marketer accepts the developers’ task and converts it into comprehensible and simple content for consumers.
- No doubt, product marketers are great communicators and skilled to be in touch with all the teams present in a company.
In a nutshell, companies need to understand customers on their terms. Consequently, a great number of companies have hired product marketers to figure out customers’ requirements and develop the customers-centered product to perk up the business position.
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