10 tips for successful product marketing
Sell more products and services with industry best practice product marketing advice
As you can imagine with a name like The Product Marketing Company we get to meet a lot of companies that have products they want to market and sell.
This article is for the businesses that have completed their research, got their product or service ready to market, are production ready, customer service ready and now it’s just a matter of adopting the right product marketing strategy for success.
For the purpose of this article our ‘successful product marketing’ definition is based on maximising the sales opportunities of a new product or service, breaking into new markets and developing market leading brand awareness.
At The Product Marketing Company our product marketing managers use the following 10 tips on a daily basis to help our customers get the very best sales, market share and brand recognition when it comes to marketing their products and services.
Our process has been developed in line with an ever changing B2B business environment.
For the purpose of clarity we break our 10 product marketing tips down into three areas
1. Create a brand or product image that is outstanding, memorable and engaging
The internet has made the world smaller and there is more competition (and opportunities) than ever before but the trick today is to create a brand that is outstanding, different and memorable to get noticed.
2. Communicate the value of the product in terms of customer benefits
Too many companies (especially engineers) are focused on their products, the technology behind them and the technical specification that sets them apart. This is good but you also have to sell the emotional ‘buy in’. For this you have to convey the benefits to the customer and the problems you are solving for them.
3. Create a product story that demands emotional interest, engagement and advocacy
When the time comes to tell the world about your product or service a great story has interest for editors, is more likely to be shared by prospects and customers alike and will be more memorable which helps to build advocacy.
4. Create a web presence for the product or service that is line with the product benefits
Once the marketing and communications start the customers and prospects will come to your website for verification of what they have heard and to find out more. Remember your product solves clear problems for those customers. You have a few seconds to keep their interest, so clearly communicate your benefits from the moment they arrive.
5. Provide information in a clear and simple to digest way
The B2B sales process is generally slow and getting slower. In a world full of product information, market information, pricing information and technical information the purchasing decision for all buyers is becoming even slower, harder to make and in turn more time consuming. Communicating in a quick, simple and engaging way helps buyers to make quicker and easier choices.
6. Design your website so it can act as a sales funnel
Business marketing has changed and as we understand the changing relationship your digital presence has with your customers, it makes sense to turn your website into one of your best sales people. Think about how it can introduce, impress, engage, build, nurture and convert a growing database of future customers. This changes it from a marketing tool and cost into a sales tool and income generator.
7. Develop a product marketing mix and strategy that is in line with your sales growth plan
Your product marketing strategy should consider your audience, market, story and value but of course at the end of the day it’s about the numbers. Ensure your marketing strategy is designed around your business forecast, goals and ability to deliver.
8. Ensure you have the marketing tools to aid the sales process
How do your customers like to communicate, learn, see, touch, feel? What do your sales team need to communicate better, demonstrate the benefits easier and differentiate themselves from the competition. The right marketing tools speed up the sales process, improve sales performance and increase sales conversion.
9. Develop communications with purpose and deliver trust
Customers don’t buy ‘what’ you do, they buy ‘why’ you do it. The most successful brands create a greater purpose, something over and above the product or service they sell. One buys a car to go from A to B. One buys a Ferrari to show success and tell people how fast can get there.
Trust is the belief that what you offer is what the customer will get. It is important to be honest and not under deliver.
10. Align your marketing communications with your sales teams needs
When sales and marketing work together well, one outcome is an increase in sales leads and conversions. Make sure you produce the marketing content and tools that give your sales team the advantage. Make sure the product value and customer benefits are consistently used through all marketing and sales communications.
There are many ways to summarise product marketing but in our experience companies, inventors and entrepreneurs always want to maximise sales and reduce cost and time to market. If you would like to learn more about this kind of product marketing, sign up to our Product Marketing News for all the latest insights and ideas.
If you would like to speak to one of the team about any product marketing question you may have please just call us on 01462 432303 and we will be happy to try and help.