Product marketing plays a huge role in your growth strategy, letting you respond to the needs of customers and relay the value of your product to prospects. Follow these tips to grow faster and reduce churn.
Product marketing is extremely important, especially for tech companies and early-stage startups. The role of product marketers typically focuses more on prospects who are close to making a purchase decision, along with understanding the needs of current customers and incorporating them into product development. Here are eight ways you can improve your strategy to see better numbers within the next quarter.
1. Know your Conversion Funnel
Product marketing generally targets prospects who are closer to actually making a purchase. Review your conversion funnel and see where your product team can make the most impact, both before and after the customer converts.
Here’s an example of where you might see your product marketing at different stages of the funnel:
2. Pinpoint Product Use Cases
Not to be confused with use cases in product engineering, these marketing use cases are simply things your customers will use the product to accomplish. For example, Adobe Marketing Cloud clearly lists its use cases here.
Build a document with each use case and which customer segment they serve. It will be a great reference for your internal team as you come up with messaging for different markets and launch targeted campaigns. It’s also a fantastic way to anchor your messaging throughout your website.
3. Publish Case Studies and Testimonials
Case studies and customer stories help people understand what they get from using your product. You can try out different formats to see which perform better with your audience.
At Spice, for example, we do a lot of work that stays private (early-stage strategy, competitive positioning). But we also solve common business and marketing problems that our readers can relate to. So we choose to make our case studies more detailed and educational when we don't have deliverable to share with the public.
If you have an enterprise tech product, on the other hand, videos or write-ups with endorsements from big-name clients might be the way to go.
4. Create Targeted Messaging and Test It
If you don't already have messaging for each persona and segment, create it. Then test it on people who aren’t familiar with the product.
You can do qualitative testing by asking for opinions from individuals to see if they can:
- Get the message after 10 seconds of reading?
- Understand how your product works even if it's technically complex?
- Clearly distinguish features and benefits?
If you've already launched your product or campaign you can A/B test messaging on your site, in emails, and through ad and social campaigns.
5. Plan Your Next Launch Carefully
When your next launch is coming up, pay attention to external factors like other news and events happening around your planned launch date. Craft several pitches around any press release and tailor them to the writers you reach out to.
When you have the moving pieces in place, schedule your launch activity to be in sync across all channels. To be safe, pad your launch date with a few days to fix any issues that come up.
6. Invest in Analytics
You don’t need to spend a lot to get the analytics you need for product marketing. At minimum, you can report on the success of campaigns and any important customer behavior with just Google Analytics, your website, an email automation tool, and your product if it's software. You may want to consider a customer service tool or mobile analytics app if there's budget.
7. Stay Aligned with Marketing, Sales, and Customer Success
Product marketing should be completely aligned with other teams on the initiatives they share. Every team should be working toward the same few company-wide goals, like gaining new users or hitting specific revenue targets. Sales teams can provide valuable insight into what potential customers want, while customer success teams know what leads to satisfied customers and what causes them to leave.
8. Start Thinking More About Churn
Product marketing isn’t just responsible for getting new customers. Churn (or customer attrition) can turn your hard-earned leads and deals into vanity metrics if you ignore it. Minimize the amount of customers you lose to competitors or changing market forces by holding continuous dialogue with your core customer base and making improvements to the product over time.
Product marketing is harder to define than some roles but crucial to the success of your company. Keep listening to your colleagues and customers and use data to drive your initiatives ahead.