How to Create a Product Marketing Strategy: The Basics

What is a Product Marketing Strategy?

A product marketing strategy is a plan designed to help you reach your target market and turn them into customers. It outlines who you’re selling to, how you’ll promote the product, and what your goals are.

Why Do You Need It?

Planning is crucial for promoting products clearly, reaching goals faster, and communicating your vision to teammates, collaborators, or customers. A written strategy helps you stay organized and focused.

Steps to Create a Marketing Strategy

1. Researching the Market and Competitors

• Market Research: Understand your market and potential customers. This helps in making informed decisions and understanding your competition.
• Competitor Analysis: Analyze competitors to see what works for them and what doesn’t. Use their successful strategies as inspiration but don’t copy them.

2. Define Your Target Audience

• Create a Customer Profile: Describe your ideal customer’s identity, age, income, location, style, hobbies, etc.
• Understand Customer Problems: Identify the issues your customers face and how your product can solve them. Use feedback, market reports, and interviews to gather this information.

3. Specify Your Product’s Strengths

• Highlight Unique Features: What makes your product stand out? Use these strengths as selling points in your promotions.

4. Determining Promotional Channels

• Select Channels: Based on your market research, choose the best channels to promote your product (e.g., social media, email marketing).
• Tailor Content: Customize your content for each platform to maximize engagement.

5. Setting Goals

• SMART Goals: Set Specific, Measurable, Attainable, Relevant, and Time-bound goals.
• Examples:
  • Reach X sales during the Y holiday period.
  • Attract X new customers in the month of Y.
  • Gain X social media followers on Y platform in Z days.

How to Market a Product

1. Increase Product Discoverability

• Homepage Optimization: Change product placement, highlight new/popular products, and create themed collections.
• Visual Appeal: Ensure your homepage is visually appealing with easy-to-read fonts and beautiful designs.

2. Showcase Customer-Created Content (UGC)

• User-Generated Content: Share photos, videos, and reviews from your customers.
• Feedback: Encourage and display customer reviews on your product pages.

3. Offer Discounts

• First-Time Discounts: Encourage new visitors to purchase with a discount on their first order.
• Special Offers: Reward loyal customers with special discounts on your brand’s milestones or anniversaries.

4. Create a Loyalty Program

• Point System: Allow customers to earn points for perks like free shipping, discounts, or gifts.
• Market New Products: Use the loyalty program to promote new products.

5. Have SEO-Friendly Content

• Keywords: Use specific keywords in product names and descriptions.
• SEO Optimization: Ensure your website content is optimized for search engines.

6. Create Content That Represents Your Brand

• Facebook: Share business updates, reviews, and deals. Host Facebook Live events and engage with followers.
• YouTube: Create videos showcasing your products, their benefits, and usage.
• Instagram: Post polished photos, educational content, and behind-the-scenes stories.
• TikTok: Use trending sounds and formats to showcase products and behind-the-scenes content.

7. Collaborate with Micro-Influencers and Brand Ambassadors

• Micro-Influencers: Work with influencers who have a loyal following to drive discoverability and sales.
• Brand Ambassadors: Engage people who represent your brand for long-term growth and promotions.

8. Run Ad Campaigns on Facebook and Instagram

• Paid Ads: Create eye-catching visuals with a short description and call-to-action.
• Targeting: Use targeted ads to reach your ideal customer.

9. Run Email Campaigns

• Email Marketing: Promote discounts, special offers, and new product launches.
• Personalized Offers: Send exclusive discounts to your email list to make customers feel special.

10. Send Out Regular Newsletters

• Themed Newsletters: Share updates, inspiration, and educational content with your subscribers.
• Regular Schedule: Send newsletters weekly, monthly, or quarterly.

11. Participate in Online Communities and Forums

• Engage in Communities: Join forums and groups relevant to your product. Share insights and subtly promote your brand.