Product marketing is the process of bringing a product to market, from ideation to launch. However, it expands beyond the idea of creating a product and putting it into the world. Product marketing connects innovation to demand, then uses those insights to solve problems for your customers.
So, you’ve developed a product to help your business grow. Excellent! You probably have a lot of questions about the best way to market your product effectively. We’ve got you covered. These are our top six tips for building interest and excitement around your product and its launch.
1. Start Product Marketing early
Before you start marketing, it’s important to define your product. Make sure that your whole team is able to answer the following questions confidently:
- What does your product do?
- How does it compare to your competitors?
- What values and features does your product have that set it apart?
Once you establish a clear set of benefits, then you can start user testing with customers. We always recommend our clients offer sneak peaks and sample groups to test their products. Gauging reactions, filling out surveys, and collecting information about the usefulness of your product is the first step we take when generating your marketing campaign.
2. Share updates on Social Media and through Newsletters
Once your product is tested in focus groups create a Facebook page, an Instagram account, and start informing customers about your product. Add an opt-in email feature to collect more information on customer preferences, and generate interest at the same time. The most cost-effective ways to build and maintain a connection with your audience is through a newsletter campaign. A newsletter can carry a substantial amount of information, making it easier to create awareness around your products and services. By proactively sending out new messages, customers will come to feel your product is familiar and will think of it more often. It’s an efficient and consistent way to remind people of your presence, and if your content is timely and compelling, it’ll drive your audience to act.
3. Get your whole team on board
Is everyone in your company informed and excited about working on your product? Sometimes the biggest marketing innovations come from unexpected team members. One of our favourite stories is about a janitor and a multibillion-dollar snack company. The son of a Mexican immigrant and a high school dropout, Richard Montañez, got a job as a janitor at Frito-Lay. After a manufacturing malfunction resulted in a batch of cheeseless Cheetos, Montañez bagged a few and brought them home after his shift. He added his own concoction of ingredients, including his favorite Mexican spices. A star was born. He pitched his new product to the CEO, and today, Flamin’ Hot Cheetos is one of Frito Lay’s most successful products of all time, becoming a cult phenomenon and proving the next big idea can come from anywhere.
4. Set goals and plan your budget
An essential part of any marketing strategy is planning ahead. How much time and resources are you willing to allocate to launch your new product? Designate teams and leaders that keep your company on time for a product launch. Good goals are clear and measurable, and have an expected timeframe. They help ensure that your launch team knows what they have to do. Goal setting with this level of clarity will help a team measure results and make adjustments for any new product launch in the future.
5. Create engaging Product Marketing content
Video is the best way to communicate how your products work and how they help your potential customers. Particularly for products that lend themselves to a more visual explanation. They’re also great for giving site visitors a quick overview of what you offer. As well as providing deeper dives into specific product features and use cases. Videos are also super cost effective in that you can shoot a 12 month online campaign in one day with the right focus. Video marketing is one of the most effective ways to showcase your product’s value, connect with a broad range of potential customers, and ultimately improve your revenue. The key is knowing how to produce a captivating, informative video to do the talking for your product.
6. Promotion time!
When your videos are complete, our focus shifts to implementing a promotional strategy to ensure your videos get in front of your target audience. This promotional strategy is always a cross-channel collaboration. With the increasing number of marketing channels, having an efficient cross-channel marketing strategy in place for your marketing campaigns is a necessity. Using a combination of email, paid online advertising, social media, and SEO content, we are able to reach your target audience, at the right time, with the right content.