While it’s possible, even probable, that an entrepreneur may have a potentially world-changing idea, that product will only change the world if people know about its existence and buy it. In order for people to find out about the product and purchase it, product marketing needs to be successful.
Product marketing is arguably the most important step in the process of bringing a product to commercial viability, so we’ve compiled some top tips to help budding entrepreneurs make their great ideas commercially viable.
First of all though, what actually is product marketing? Product marketing refers to the whole process of getting a product ready and bringing it to market. It’s a multi-stage process, and doesn’t stop once the product has been introduced to the public; each stage needs special attention if overall success is to be achieved. There are multiple different steps that entrepreneurs should follow:
Before, during and after the product’s development, product marketers need to spend time researching and testing the product. Product marketers need to understand both the product itself and how people interact with it; this will in turn allow them to make suggestions on possible alterations and developments that could lead to a superior product.
Every product needs a story. This story should be creative but also include practical answers to questions. For example, what problem the product solves, how it solves that problem, and what makes it unique. One such example of a product with an inspiring story, is the Mercator’s SpaceX-inspired NOMINAL pen.
Once you have a fairly complete idea of what the product looks like, and the story that surrounds its origin and development, you’re ready to create a product launch plan. You want this plan to be as detailed as possible. Have each task assigned to an individual, and detailed information on every step of the process. Once the ball is rolling, it’s too late to create a plan, so make sure you do it in good time.
By now, you’re ready to introduce the product to the community. You want to create as much buzz as possible. This might mean holding back as much information as you put out. Create suspense, and get creative. Reach out to influencers and partners, and involve your existing community of customers. Existing customers will likely already be fans of what you do. Thus, will require less effort to sell them your new products.
Now, your product is ready to be sold. Before it’s fully brought to market, the product marketing team will need to engage the sales team to help them to develop their sales strategy. This is necessary in order to ensure brand consistency and to ensure that the sales team knows exactly what it is that they’re selling.
