It doesn’t matter what products or services you sell or to whom you’re trying to sell them. Your company’s product marketing strategy plays a pivotal role in your success or failure.
Are you confident in your current product marketing plan? If not, the information in this guide can help.
Below, you’ll learn more about the importance of good product marketing, what makes some marketing strategies better than others, and what effective product marketing looks like.
What is product marketing?
Product marketing refers to the strategies a business uses to share its products with the world, highlight its products’ benefits, and encourage people to purchase them.
All companies, including business-to-consumer (B2C) and business-to-business (B2B), utilize product marketing to reach more potential customers and get people interested in buying what they’re selling.
Why does product marketing matter?
Product marketing is critical to any business’s success. The following are some specific reasons to take your company’s product marketing strategy seriously:
Connect with your target audience
Ideally, a marketing campaign will help you connect on a deeper level with your target audience. You catch their attention, address their pain points, and get them interested in buying what you’re selling.
If consumers don’t feel they can relate to your products or message, they won’t consider shopping with you.
Explain the value of your products
Product marketing tactics also give you an opportunity to explain the value of your products. It allows you to demonstrate how buying what you’re selling can solve someone’s problem or make their life better.
Build credibility and trust
Product marketing campaigns can also help you build credibility and generate more trust between you and your target audience. The more they see your brand and understand what you sell, the easier it is for them to trust that you’re the real deal.
Encourage alignment across multiple teams
It takes input from a lot of people — across multiple teams — to make a marketing campaign successful. Developing and executing product marketing campaigns brings your product, marketing, and sales teams together and ensures they all work toward the same goals.
Increase product sales
All of these benefits add up to increased product sales and more revenue for your company.
When people feel connected to your brand, know how your product can solve their problems, and trust your company, they’re more likely to move forward and make a purchase. As more people purchase what you’re selling, your business grows.
Elements of good product marketing
To experience all the benefits discussed above, your company must have a stellar product marketing strategy. The most effective plan includes the following elements:
Every good product marketing plan starts with, well, a good product. You need something to offer your customers, and it should be something that solves a particular problem or benefits them in some way.
Clearly defined audience
Next, you need to clearly understand whom you’re trying to reach with your marketing strategy.
Who is your target audience? What problems do they have? How old are they? What are their interests?
The better you understand your audience, the easier it is to convince them to buy your product.
Understand of competitors
You must also understand your competitors. What strategies are they using to market their products? What are they missing, and how can you fill the gap when promoting yours?
Once you know what your product is, who makes up your target audience, and who your competitors are, you can start crafting a marketing message geared toward your customers.
Effective communication plan
After you’ve defined your marketing message, it’s time to find the most beneficial way to communicate it to your target audience.
For example, some companies may see the best results from traditional marketing tactics like billboards, whereas others should focus their efforts on social media ads.
Examples of effective product marketing
You know what good product marketing looks like in theory. Now, let’s talk about it in practice.
Here are some companies that are doing a tremendous job marketing their products and building their brands:
Apple easily has one of the most impressive product marketing strategies in and out of the tech industry. The company’s logo is recognizable across the globe, and millions of people vie for their electronics as soon as they become available.
Apple understands that its target audience values luxury, modernity, and exclusivity — and the company has built a great brand around these values.
Check out their iPhone 14 Pro ad here.
Nike is another brand that understands its target audience — athletes and fitness enthusiasts who need high-quality gear to achieve their performance goals.
The brand has one of the most easily recognizable slogans in the world — Just Do It — and has built a strong community of loyal followers.
See what we mean in Nike’s “Never Settle, Never Done” ad.
Billie is a well-known women’s razor brand with a convenient online store and a presence in major retailers like Walmart.
The brand received a lot of attention for its #ProjectBodyHair campaign, which featured the first ads in the industry to show actual body hair on women using the company’s razors.
The company perfectly addresses its target audience’s pain points and relates to them on a personal level, encouraging them to choose Billie products over other options.
Airbnb has revolutionized the hospitality world and the way businesses in the industry market their offerings.
Airbnb’s ads reflect travelers’ desire for adventure and their need to belong wherever they go. The company separates itself from sterile, perfectly curated hotel chains and stands out as a more comfortable, personalized, and inviting alternative.
You can see Airbnb’s highly effective marketing techniques in their “Strangers” ad, which was released earlier this year.
Level up your product marketing plan today
Now that you know more about the importance of a solid product marketing strategy, are you ready to make some changes to yours?
Use the examples discussed above as the inspiration for your next campaign and set your company up for impressive results.