If you’re a startup business, it can be tough to get your product out there in the world. But with the right tools and understanding, positioning your product for maximum exposure to your target market doesn’t have to be an impossible endeavor.
In this article:
- A properly planned and executed product marketing strategy will enable the sales team to connect with more prospects.
- It is crucial to make sure that the messaging for your product is clear and concrete so everyone involved can understand them thoroughly.
- Comprehending what your competitors offer compared to yours, should be easy by analyzing your target customers’ behavioral data.
Positioning Your Product in the Right Market
Product marketing is the most important strategy for a startup business to develop because it connects all of these different areas within your company: product development, sales, customer service success, and marketing.
Product marketers are the secret weapon for startups. These essential members of your team may not have a clear distinction between marketing, product management, and advertising; but with minimal changes to their workflows, they can be an important cog in the machine that drives revenue upward.
This strategy is mainly concerned with securely establishing your product in your target market. By increasing demand generation, product marketing processes will effectively enable the sales team to connect with more leads and close more deals.
You will need to know what your target audience needs and what solutions they require for the problems they encounter. Gathering intent data through platforms like N.Rich’s Account Based Marketing platform allows you to see how key decision-makers behave online. In turn, your sales team will know what to prepare in order for leads to continue their journey through the sales funnel.
However, some new companies still struggle with making their products known to their target market. Here are some best practices on how to effectively run your product marketing campaign.
Deliver a Clear and Concrete Message
The relationship between your products and what you stand for as a company is an important one, but it also requires some thought. If the two don’t align together well in terms of message or branding, then it will be difficult to position them properly on the market. By understanding who you are as a whole entity–both business-wise and personality-wise–it’ll become easier to figure out how everything should relate to each other without confusion being involved at any point along the way.
Here are some questions to establish when deciding the overall messaging of the product.
- Who will benefit from the product?
- What features does this product have?
- How can it solve the target audience’s problems?
- How does it differ from other products already in the market?
Answering these questions will help you build a clear position for your product in the market. Gathering intent data from your target market will also give you an understanding of what solutions work well for them.
Come Up with Bold and Creative Solutions
In today’s market, you’re competing with too many other brands. This means that your marketing strategy has to be robust and innovative if it wants to stand out from the pack. How can you get yourself noticed in a saturated market?
The data you have, which is gathered from existing customers and potential leads, shows you what other companies are offering and how they influence the market. From there, you can come up with solutions beyond those being offered. A bold, creative answer to your target markets’ serious questions catches any person’s eye. It may also lead to a deeper, longer relationship with clients.
Know Who Your Competitors Are
When you start a business, you’re joining a pool of competitors vying for your target audience’s attention. Stay on guard at all times by knowing who you’re up against.
Your customers’ behavioral data will show you what offers convinced your lost prospects to switch over to other companies. Although you can’t know for sure the developments happening in their war rooms, this information at least gives a hint of what they’re up to.
Prioritize Your Customer’s Needs
Your prospect’s digital footprint can show you which products and services they’re looking for as a solution to an issue. From there, you can start building on ideas of how your product could be improved.
Stop guessing if your product is good enough to solve the problem. Talk to potential and existing customers every time you launch a new product or update an old one.
Be Trendy and Timely
Business is ever-evolving and it’s essential for marketers, sales teams, and product managers to stay on top of trends. Stay abreast of hashtags, social media campaigns, and even advertising developments to keep your product and business relevant.
Positioning your product in the market can be tricky without the right tools to help you out. Fortunately, you can rely on N.Rich to provide you with accurate and relevant data for serious decision-making. You also don’t have to worry about getting overwhelmed with publishing ads and running campaigns. You’ll have full control of your metrics, settings, and publishing activities with the account based marketing platform.