It is one thing to develop a new product and another to sell it. While the former involves innovation, extensive research, and development, the latter involves strategic product marketing.
Unlike conventional marketing, product marketing helps drive adoption and sale by strategically promoting the right product to the right target audience. This process is responsible for the successful launch of products.
Product marketing can drive sales and generate revenue for your business. Here are 4 effective product marketing tips to boost sales for your business.
What is Product Marketing?
Product marketing is the process of introducing a new product to the market to generate sales. This process uses strategic planning, which involves studying the target audience, researching, and implementing the best product launch strategy to create excitement around a product and drive sales.
Brand Examples of Product Marketing
Nike is the largest shoe brand in the world with the most generated revenue, outperforming other prominent shoe brands like Adidas, Puma, and Reebok.
But, several decades ago, Nike was unknown. In fact, when Nike tried to break into the market in the 1970s and 80s, it failed and eventually fell behind Reebok.
However, with strategic product marketing, Nike catapulted itself into the limelight and worldwide adoption.
Nike leveraged celebrity endorsement to boost sales and become the multi-billion dollar brand they are today. At first, they made tennis player Ilie Nastase and track star Steve Prefontaine the face of their brand. This move spiked their revenue to $270 million.
But, they didn’t stop there.
Later in 1984, Nike got basketball legend Michael Jordan on board.
The result? By 1990, its revenue grew to $2.2 billion. Today, Nike is worth $174.59 billion.
GoPro leveraged the power of UGC, making it their go-to marketing strategy to drive user engagement, awareness and purchase. The multi-million dollar company’s UGC and product videos feature wild and thrilling moments that can only make you dream about owning a GoPro camera and capturing similar moments yourself.
The story behind GoPro embodies product marketing. By developing GoPro, the founder, Nick Woodman, created a gadget that solves a pressing problem—the need to capture and share HD adventure footage easily and conveniently.
How to Market Your Products to Boost Sales
1. Know Your Target Audience
For your product and marketing strategy to resonate with your target audience, you need to understand who you are selling to even before launch.
You need to understand your target audiences:
- Pain points
- Psychographics (interests, values, lifestyle preferences)
- Demographics (age, gender, location, income level)
- Needs and desires
- Buying triggers
- Communication preferences
Understanding your target audience will help you tailor your product’s features to their needs and desires. It’ll also allow you to communicate in ways that resonate with them, thus boosting trust, brand engagement and sales.
Rocio Arrarte, EMEA senior marketing manager at Diligent, emphasized the importance of knowing your audience by say this:
“Great marketing means knowing your audience, talking to your target personas, and building content strategy around them.”
Common ways to understand your target audience are through surveys and interviews, market research, analytic tools, and social listening.
You can even go further and create a buyer persona for a more targeted product marketing approach and improve your understanding of your ideal customer.
2. Use Customer Reviews and Testimonials
By displaying testimonials on your ads, landing pages, website and emails, you build customers’ trust in your brand. It’s important to feature testimonials and reviews that tackle potential objections prospects may have about your product.
For instance, if you sell a weight loss product, a major objection would be the effectiveness of your product. You can tackle this objection by featuring reviews and testimonials from customers who have experienced significant weight loss after using your product.
Doing this shows that it works. It also builds trust in your product.
Remember, customers are more likely to engage your brand if they consider it to be credible and trustworthy.
3. Invest in Content
Content is another effective product marketing tactic that can help drive sales to your business. It involves promoting your products via content like:
- Blog posts
- Social media posts
- Downloadable guides
- White papers
Content contributes to the sales process by providing valuable and actionable information that helps attract, engage, and retain a target audience.
To effectively promote your product via content, Laura Fitton, Inbound and Influencer Relations at HubSpot, shares her take:
“Focus on the core problem your business solves and put out lots of content and enthusiasm and ideas about how to solve that problem.”
You should also try to understand what your target audience needs, including their stage in the buyer’s journey, then tailor your content based on these factors.
4. Communicate With Email
Sending emails is an affordable and effective way to build a solid relationship with your target audience and promote your product.
While the goal of your emails is to drive sales, you shouldn’t use this as an excuse to bombard your subscribers with promotional emails. Doing so will make you come across as salesy, causing your subscribers to lose interest in your brand.
Instead of sending multiple sales emails to encourage purchases, nurture your subscribers. Provide them with value and build genuine relationships so that when you send those promotional or product launch emails, you’ll get good engagement and reactions.
Example of a Product Marketing Plan: Launching a Fitness App
Objective: To successfully launch a new fitness app and acquire 10,000 active users within the first three months.
- Demographics: Health-conscious individuals aged 25-40, both men and women.
- Psychographics: Fitness enthusiasts, busy professionals looking for convenient workout options, individuals interested in tracking their health and fitness progress.
- Pain Points: Limited time for exercise, lack of motivation, difficulty in tracking progress, lack of access to quality workout routines.
Product Positioning: The fitness app is positioned as a comprehensive and user-friendly solution for individuals seeking effective workout routines, tracking features, and motivation to achieve their fitness goals. It emphasizes convenience, flexibility, and personalized workout plans tailored to each user’s needs and preferences.
- Pre-Launch Phase
- Build a pre-launch landing page to capture email addresses of interested individuals.
- Develop engaging social media content to create awareness and generate anticipation for the app launch.
- Collaborate with fitness influencers and experts to create buzz and promote the app to their followers.
- Run targeted online ads on fitness-related websites, social media platforms, and fitness apps.
- Launch Phase
- Send a series of email newsletters to the pre-launch subscribers, providing exclusive early access and offering incentives for signing up.
- Launch a compelling promotional video highlighting the key features and benefits of the app.
- Leverage social media platforms to announce the app launch, encourage user-generated content, and engage with the target audience through contests and giveaways.
- Partner with fitness studios, gyms, and wellness communities to offer limited-time promotions and discounts for app users.
- Encourage users to leave positive reviews and ratings on app stores.
- Ongoing Marketing
- Implement a content marketing strategy to provide valuable fitness tips, workout routines, and motivational content through blog posts, videos, and social media.
- Collaborate with fitness influencers and wellness bloggers for sponsored content and product reviews.
- Run targeted ads to reach potential users who fit the app’s target audience profile.
- Implement an app referral program to incentivize users to refer their friends and family.
- Continuously monitor user feedback and iterate on the app features based on user preferences and needs.
- Measurement and Analysis
- Set up tracking tools to monitor app downloads, user engagement, and conversion rates.
- Analyze user data to understand user behavior, preferences, and patterns.
- Measure the success of marketing campaigns by tracking metrics such as app downloads, user acquisition costs, user retention rates, and active user engagement.
- Use A/B testing to optimize app store listing elements, ad creatives, and messaging.
Generate Sales With Product Marketing
Product marketing is an integral part of a product launch. It helps build awareness, create excitement around your product, and generate sales for your business.
Determine who your target audience is. Then tailor your product to their pain points and desires. Finally, be patient. Monitor and analyze results to see what works.
About the Author
Ikeagwu Ebuka is an SEO content writer, email copywriter, and digital marketing enthusiast. He helps e-commerce brands create content that educates, engages, and encourages their audience to take a desired action. He writes on topics related to email marketing, content marketing, sales, personal development and productivity. You can connect with him on Linkedin and Twitter.