10/09/2024 | Press release | Distributed by Public on 10/09/2024 17:01
What Is a Product Marketing Strategy?
A product marketing strategy is a structured plan that defines how a business will promote a product. To help sell it more successfully.
The idea is to compile key information about the product's:
And use this information to determine the right marketing approach.
Generally, you should decide how to market your product after developing your product concept (so you have a foundation of knowledge and research to build upon). And before your product launch (so you can get off to the best possible start).
But you can also create a strategy for your current offerings. If you want to start taking a more tactical approach to product marketing.
7 Steps to Creating a Product Marketing Strategy
Learn how to create a strategy that can help you reach your sales goals:
1. Create Buyer Personas
Buyer personas are profiles that represent different types of potential customers.
They help you understand target audience segments (which you may have identified in the product development stage). So you can reach and engage them more effectively.
Let's say you're launching a coffee subscription business.
Based on research you've done, you might create a persona to represent busy urban professionals in their 30s who enjoy starting their day with a good cup of coffee.
Like this:
The information in the persona helps you:
So, marketing a product becomes much easier.
If you need help researching your target audience, use Semrush's One2Target tool. Which tells you about the people who visit your competitors' websites.
Just enter your target location and rival domains. Then, review the charts in three reports:
Here's a snapshot of results for five coffee subscription sites:
2. Understand Buying Journeys
The buying journey refers to the steps a customer takes on their way to purchasing your product.
Understanding this journey better equips you to reach and engage prospects at each stage. Ensuring more people ultimately make a purchase.
The three main stages are described below:
Stage |
Description |
Example |
Awareness |
The prospect becomes aware of your business or a problem you can solve |
Polly sees your advertisement on Instagram |
Consideration |
The prospect evaluates the available solution(s) |
Polly researches coffee subscription services via Google |
Decision |
The prospect becomes a customer or chooses another brand |
Polly claims the "50% off your first box" offer on your website |
You can get valuable insight into buying journeys with the Traffic Analytics tool.
It shows where competing websites get their visitors from-and where those visitors go afterward.
For example, here's one of the charts for Bean Box's website:
Key takeaways include:
3. Analyze Your Competitors
Analyze your competitors to find out which marketing tactics work for them-and which don't. So you can get insights for your product marketing strategy.
Semrush's Market Explorer tool gathers lots of useful data.
Enter your target location and five rival domains to see three key metrics:
Next, scroll down to the "Domain vs Market Dynamics" section.
The "Share of Visits" chart shows each domain's traffic share. And can help you decide which competitors to focus on most.
And the "Total Traffic Trends" chart shows how market traffic has changed over time. To help you understand seasonality or other trends in your niche.
Last but not least, look at the "Traffic Distribution" chart to see which channels drive the most traffic.
4. Identify Unique Selling Propositions
Unique selling propositions (USPs) are key differentiators that make your product better than rival products.
Communicating USPs is key to standing out. Particularly in crowded markets.
Here are some example USPs for a coffee subscription service:
To define strong USPs, consider what your target audience wants. (Using your buyer personas.) And look for gaps in your competitors' offerings.
Also, avoid vague statements. For example, instead of saying "eco-friendly coffee" say "ethically sourced coffee grown using sustainable farming practices, delivered in 100% compostable packaging. And we offset carbon emissions for every shipment."
Specificity will make your messaging more impactful.
5. Define Your Focal Message and Marketing Mix
Next, define the focal message for your product marketing strategy. This should resonate with your target audience and differentiate you from competitors.
For example, many coffee subscription services focus on the message "our coffee tastes the best." We could stand out with a core message like "our coffee empowers farmers and communities."
Your focal message will serve as a guiding principle for your marketing mix, which consists of four key elements (also known as the four Ps of marketing):
To develop an effective marketing mix, you must consider your strategy and use all the research you've conducted so far. This includes research you conducted during the product development stage.
But, you also need to think practically. The ideal mix isn't always feasible, so consider the resources (money, skills, time, and tools) available to you.
To illustrate, here's a quick summary of a potential marketing mix for a coffee subscription business:
Product |
Coffee sourced directly from small-scale farmers who are part of co-ops that prioritize fair wages, equitable working conditions, and sustainable farming methods. Delivered in eco-friendly packaging every month with an information card explaining how the coffee was sourced. |
Price |
Reflects the premium quality of ethically sourced coffee, with an emphasis on how the cost directly benefits farmers and communities. Tiered subscription plans allow consumers to support varying levels of community initiatives. |
Place |
Offer direct-to-consumer subscriptions through our website, ensuring that shipping and packaging align with eco-friendly practices. Partner with local co-ops or fair-trade organizations for brick-and-mortar availability, reinforcing the ethical angle of our brand. |
Promotion |
Use SEO to reach consumers searching for eco-friendly, fair-trade, and sustainable coffee. Share behind-the-scenes content from the farms on social media to highlight the positive impact of our coffee. Collaborate with influencers in the sustainability and fair-trade spaces to reinforce our message. |
6. Plan and Create Content
Now you're ready to plan and create content in line with your marketing mix.
Either way, one of the most important aspects is the landing page. This is the main webpage that informs visitors about your product-and convinces them to buy.
Here's an example from Mistobox:
You might also want to create supporting website content, such as:
This content allows you to reach and engage prospects in different ways. And helps onsite visitors get the information they need (meaning they're more likely to ultimately make a purchase).
You'll also need to prepare for other marketing efforts, which may include:
7. Execute Your Strategy and Keep Adapting
At this stage, you're ready to put your strategy and product marketing best practices into action.
Monitor marketing metrics such as website traffic, conversion rates, and social media engagement. So you can invest more in the tactics that work-and pivot from those that don't.
(Just remember that it can take time for your product marketing to build momentum and translate into sales.)
You may also need to adapt your product marketing strategy based on other factors, such as:
One good way to monitor your market is with the EyeOn tool.
It shows you when competitors publish Google ads, blog posts, webpages, and social media posts. And makes it easy to check their content out.
So, you can quickly identify any notable changes. And get inspiration from them.
Gather Insights for Your Product Marketing Strategy
Semrush .Trends tools provide valuable data you can use for your product marketing strategy. To save time and make better decisions.
Claim your free trial to: