Nowadays, any product idea is good enough to run an eCommerce business efficiently. The way you develop that idea and its potential benefits may depend on various factors. Those factors can be the financial condition of your organization, the resources you have at your disposal, or how you carry out your online sales. All of these responsibilities are associated with a product marketing manager.
For those unaware of marketing products, it is the procedure of introducing a particular product to the market. You can also be introducing a new product to an established market, promote it before selling it to your respective customer. The marketing of products involves the identification of the targeted audience and using strategic positioning to boost eCommerce sales and revenue.
Importance of Marketing Products
1. Learning about Competitors
The importance of product marketing can be realized because it enables the website owners to do competitor analysis. When you are marketing your product, you can draw a comparison of your strategies and results with your customers. The main talking points would include the following:
Features required to get the spotlight in the market
Creative ideas yet to be explored
The things that your product doesn’t offer which your competitor’s product does
When you conduct competitor research, you can highlight all of the above points to improve your marketing strategy. For example, if there is a new product in the market and your competitors are generating more sales, it could be down to the fact that they could be giving free gifts or discount deals in return. On Strikingly, you can find many websites associated with eCommerce where you can have a look. As a result, you can take a leaf out of your competitor’s notebook and try to create a discount plan for your customers as well.
2. Understand Customers
Customers are one of the most important factors of the guide to product marketing. If you cannot impress your customers with your products, all of your hard work will go down the drain. By marketing your products, you will achieve the maximum potential within your targeted audience. You must convince your customers about how the particular product can play a role in their lives. If the customers are impressed by your service or product, they may become repeat customers. This means that you will not just be able to attract new customers but also retain the current ones.
Strategies to do Marketing of Products
1. Recognize Target Audience
Those who want to know what is product marketing must also be aware of the targeted audience. If you do not see the audience for the promotion of your product, your online business will simply not take off. Therefore, you need to identify the target audience to convince them to make a purchase. This will enable you to showcase your product’s features, which will help resolve the issues that your audience is facing.
The best way to identify the target audience is to do customer segmentation. This procedure enables you to divide your target market into smaller groups based on their characteristics or attributes. If we define it in simpler words, it is also referred to as the “classification of products”. Strikingly has made all the options available for you. For example, if you have an eCommerce store, you can divide your products based on the audience’s gender or age. Thanks to its audience list feature, Strikingly made life easy for a marketing person. Through this feature, you can access between your browser tabs.
2. Create a Marketing Plan
When you attain the responsibilities of being a product marketing manager, you create an appropriate marketing plan for your respective products. Your marketing plan basically outlines your marketing strategies. They make us understand how those strategies are converted into actions, the people associated with them, and the overall costs. If we define it in simple words, an effective marketing plan is exceptionally insightful and simple to comprehend. When we talk about a marketing plan, we talk about the following aspects:
Marketing Objectives (Both long-term and short-term)
Guide to Marketing Goals
Schedule of Marketing Activities
Key Performance Indicators (KPIs)
A marketing plan enables you to establish, build and execute content-related campaigns. These campaigns will create a mindset of your buyer to buy that particular product. Once those customers have decided to buy your product, it will improve your overall eCommerce sales.
3. Attract Right Customers for new Product
As a product marketing manager, you have to create a direct relationship with your online sales. This is your responsibility to collaborate with online sales to attract the right customers for the new product in the market. Moreover, you can also provide sales enablement materials to reps to guarantee that they have a complete understanding of your product.
By getting to know all the functionalities and features, your customers will also understand its scope in the current market. Through this strategy, you and your staff will be on the same wavelength per the information shared with the customers. This will also give you a complete insight into what your potential customers can expect when they come in contact with your product.
4. Product’s Positioning in the Market
When you get to know what is product marketing, you will also understand the importance of your product’s positioning in the market. The current status of your product is critical to determine whether it will be a hit in the market or not. For example, if the demand for your product is exceptionally high, you can choose multiple product options.
You can also refer to your product’s positioning by doing visual storytelling. It will depend upon your positioning to create and visualize the story of your product. As the marketing person, you will work with a group of marketing people to answer the following aspects of your product.
The reason behind your product idea and establishment
The audience for whom this product is created
Challenges this product overcomes
The reason behind your product’s uniqueness
5. Expectations of Target Audience
If you understand what is product marketing, you must also be aware of the expectations of your target audience. After all, your target audience basically determines whether your product will be a hit or a flop in the market. You will understand your buyers’ persona and their mentality by doing customer research. In your research, you can uncover all the critical points and the challenges that made it difficult for you to launch a particular product in the market.
Image taken from Strikingly
If the customers are not satisfied with your product, they will simply not consider buying it. They will simply choose not to buy it or share their opinion in the customer review section. It will create a terrible reputation for your online business if they buy the same product from one of your competitors. Therefore, you must have a proactive approach regarding it.
6. Social Media Marketing
When you have opened an eCommerce business, your eCommerce website is your bread and butter. After all, you cannot just open a physical store and believe everything will go well within your business. A website is also essential. However, a website is not the only important thing regarding an eCommerce business. You must also integrate your social media channels as part of your online work. Through social media marketing, you can publish your product descriptions along with high-quality photos. Make sure that your social media captions are catchy and your images are not blurred or have a poor background.
Strikingly gives you a guide to product marketing through social media. Whether Facebook or Instagram, you can efficiently market your products through this effective website builder. On your eCommerce website, you can embed social media icons in the form of images, as per the design of your platform. Once you update your social media channels, they will also be displayed on your eCommerce website.
By getting to know the tips and importance of product marketing, you can turn your attention towards marketing your own products. When you have conducted in-depth research on your product idea and utilized your resources to build your preferred product, you must market it properly and prepare for the mega launch. You can’t be just put a paid advertisement on your social media channel and assume that it will reach all of your customers.
The best solution for marketing is to establish an eCommerce website. Strikingly provides you with the best website templates to ensure that you do exactly that. You don’t need to worry about starting from square one, as our templates are easily customized and just a few clicks away from becoming one of your own. So, when you cannot find any idea regarding the marketing of your product, consult with Strikingly right away.