Marketing Your Product
In smaller companies, the product manager also markets the product, while larger companies have an in-house product marketing manager. Either way, it’s important to be aware of how the product marketing manager approaches marketing. This way, you understand how they do their job and where you can help on marketing your product.
First, let’s take a quick look at what separates the two roles:
Product Manager vs. Product Marketing Manager
The product marketing manager is responsible for getting users to the product or upgrading the status of current users by introducing new features. The Product Manager is responsible for the experience when the user is inside and actively using the product.
How to Bring in New Users
Product marketing grows a product by activating new users or keeping existing users around longer. There are many ways to accomplish both of these objectives, some which overlap with one another. Here are some of the most popular methods:
Word of mouth
The best salespeople are existing happy customers who get behind your product and want to share it their friends, families, and co-workers. You’re more likely to go to a restaurant that your friend suggests that if you see an add on Facebook, right? This type of marketing is priceless, and if you’ve gained it, that means you’ve earned it, and you’ve built something people will want to recommend.
This is when new customers sign up because of existing customers, through what we call “The Network Effect” which is when a product gains value solely because more people are using it. We see this a lot on Facebook and Twitter.
The most popular form of paid advertising in SEO and buying. SEO is based on developing great content, which lasts much longer than SEO. Buying ads has a stronger, yet short, impact on sales strategy.
How to Keep Existing Users Engaged
Customer Retention Programs
The programs are designed to reduce the client Churn rate, which means the amount of people who stop using your product. One way to organize a retention program is to speak directly to the customers that are leaving, and seeing out their pain points to develop new features that improve their experience.
If your customers are happy, there is a good chance they will want to invest more in the product or are interested in new features. Studies have shown that getting purchases from existing customers are much easier and less expensive than winning new customers. So it’s vital to pay attention to what they want. The show them the value of additional products that complement what they currently have.
These are just a few of the basic marketing techniques widely used in product marketing. It’s important always to consider the customer needs, understand what they want, and build great products they want to share, for a product to be successful.