Are you a product owner or a SaaS product founder who is trying to understand in depth difference between product management vs product marketing?
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If you are seeking this information then you are on the right track and seeking this information at the right time, as it is crucial to understand this and implement this in steps appropriately.
A quick short explanation and differentiation about product management and product marketing is product management is something that takes place during the creation of the product, which can include
- Preparing the blueprint of the product
- Understanding the coding difficulty in developing the product
- Hiring the right candidates for the development of the product
- Technology Evaluation and Adoption
- Cross-Functional Technical Collaboration
- Continuous Integration and Deployment
- Technical Documentation preparation
- Security and Compliance Considerations
- Data Management and Storage
Whereas, product marketing will come into the picture after the product launch which clearly says product management should be in phase 1 and it should continue with product marketing in the long run.
The main priority of product marketing includes a Go-To-Marketing strategy after the product launch and other things include
- Marketing Collateral Development
- Sales Enablement
- Content Marketing
- User Guides and manual preparation
- Demand Generation Campaigns strategies and formulations
- PR and Influencer Relations
- Marketing Analytics and Reporting
- Competitive Analysis
- Brand Building
Hope the first lines gave a little brief about the differences between product management vs product marketing and lets dig little more deep into each thing.
What is Product Management?
Product management is a kind of core role where the product managers need to work with cross functional teams to make sure the traditional, transactional and strategic actions go hand in hand simultaneously.
A product manager is like a bridge between different teams. They work closely with:
- Developers: To understand how long it takes to build new features and fix bugs.
- Tech teams: To figure out any technical problems with the product.
- Management: To get the budget needed for development and marketing.
- Marketing team: To understand how to sell the product and keep an eye on competitors.
An important aspect of product management is to determine whether the product is up to date and whether it will solve the pain points of the customer who is looking for it.
This helps the product evolve and succeed in the market!
What is Product Marketing?
Product marketing is again a strategic marketing role where this functionality helps the product get into the market and make the product grow.
Product marketing can be considered as an individual or an independent function that works on the promotion, branding, and sale of the product.
Imagine everyone in the company is part of a big band playing a song. Each team (support, sales and product management team) plays their own instruments, but they all need to work together to make beautiful music.
Product marketing is like the conductor. They help everyone understand the song (what the product is and how it benefits customers) and play their parts well:
- Support helps customers use the product smoothly. This gives product marketing valuable feedback to improve the product.
- Sales uses product marketing materials to explain the product to customers. This helps them sell more.
- The product management team works with everyone to understand the market and competitors. This helps them create better marketing campaigns and make customizations in the product as per the customer’s requirement if needed.
By working together, all the teams help the product grow and succeed!
Roadmap for the Product marketing manager in Product Marketing
Product marketing could play a key role along with the product management and hence evaluating the need of product marketing is crucial. There was a mis conception that product marketing should start post launch of the product but not during the product development phase but thats absolutely wrong perception.
In the road map and strategy, I will be explaining the detailed stages and role of the product marketing manager.
Pre-Launch Phase (3-6 months):
To be successful in this role, you must conduct market research, which can include the target audience and their behavior, specifically for the B2C segment, as well as buyer personas for the B2B segment.
Competitor analysis is crucial in understanding the evaluation of the product and how well it can perform in the market. If you plan to conduct online research, you may use tools such as isopinage and similarweb.com to understand what your competitors are spending on advertising and what kind of promotions they are running.
Collaboration between cross-functional teams is necessary for communicating market needs before the development of a product, as well as the geography where the product will be marketed.
Product Development Phase:
It is crucial to work closely with the development team to ensure the functionality of the product such as the navigation, ease of use, and the overall experience a user has when using the product is enabled.
To iterate on the features of the product and improve the user experience, we gather feedback from user testing and focus groups.
Also Read: 10 Free Social Media Automation Management Tools
For instance, if your product is a software-as-a-service, you may be able to list your product free on websites such as softwaresuggest.com and Capterra.
Also get started with Social media optimization and Local SEO if yours is B2C product.
Pre-Launch Marketing and User Acquisition:
Develop a pre-launch marketing strategy to generate awareness and interest among potential users and this can be more precise to B2C marketing.
Utilize appropriate and highly targeted advertising campaigns across digital channels. I would strongly recommend LinkedIn for B2B product marketing and Twitter is another option. Additionally, I strongly recommend that B2C businesses utilize Instagram and Pinterest.
The other channel that can be focussed right in the prelanch phase is Influncer marketing, We can find highly targeted influencers for your segment.
Launch Phase
Launch phase requires high promotion and branding, consider working with an event management for the product launch.
Not every launch can be done or focussed online but little offline promotion like inviting stakeholders for the launch event and free trail version for the special guests may work better here.
Consider a Press Release that focus on the product launch and features that your product is offering along with the competitive pricing and also the free trial versions of your product. Prweb.com could be an option to explore.
Post-Launch Optimization
As mentioned in the beginning, there was a misconception that marketing team should get hired at this phase but now i hope there is a clear understanding of where the role of a product marketing manager will start and how it goes.
After the product launch here are the things to be focussed more
Campaign Management: Start investing in paid campaigns as part of digital marketing and it should be a priority to choose the right platform for your product promotion or sales.
Organize your campaign budget into two segments, one for branding and one for sales. The branding campaign should begin first, followed by the sales campaign and also consider A/B testing while the campaigns are live.
Product reviews: As a part of online reputation management, product reviews are critical to making a positive impression about your product. Therefore, you should invest in technology portals where your product can be reviewed and opinions shared. A paid product review can also be an effective strategy.
Scaling and Growth
Develop strategies to increase the user base of the product, like providing free trial versions of the product and ideally 30 days free trials are more attractive for the users.
Invest in offline marketing ways like promoting banner advertisements across Cabs, Autos, hoardings, and others.
Here are other ways that can be more suitable and highly focussed on
Events & Sponsorships:
Trade shows & conferences: Showcase your product directly to target customers and industry professionals. Network, collect leads, and generate buzz.
Product demos & workshops: Organize interactive sessions to educate potential customers and showcase the product’s value proposition.
Local events & sponsorships: Partner with local events relevant to your target audience, like community fairs, festivals, or charity events. Distribute samples, run contests, and build brand recognition.
Traditional Advertising:
Public transportation ads: Reach a captive audience while they commute on buses, trains, or subways.
Out-of-home advertising: Use billboards, bus shelters, or street kiosks to create impactful visuals and reach a broad audience.
Print ads: Consider targeted placements in relevant magazines, newspapers, or local publications.
Promotional Materials:
Brochures & flyers: Create informative and visually appealing handouts to distribute at events or partner stores.
Direct mail campaigns: Target specific demographics with personalized mailers offering discounts or product information.
Product giveaways & contests: Generate excitement and engagement with product giveaways or competitions at events or through social media promotions.
Guerilla Marketing:
Pop-up shops & installations: Create temporary, interactive experiences to raise awareness and attract attention.
Street art & experiential marketing: Use creative and unexpected tactics to engage with potential customers in public spaces.
Branded merchandise: Offer branded T-shirts, mugs, or other items to increase brand visibility and customer loyalty.
Performance Monitoring and Continous innovation
Understanding the true performance of your product lies not only in isolated analysis, but in a synergistic approach combining rigorous data evaluation and insightful customer feedback. This combined methodology allows you to gauge with precision whether your product is on the right trajectory or requires critical course correction.
Harnessing the Power of Data:
- Metrics and Analytics: Regularly scrutinize key performance indicators (KPIs) such as website traffic, user engagement, and sales figures. These quantitative insights offer a bird’s-eye view of your product’s health and highlight potential areas for improvement.
- Acquisition Data: Analyze customer acquisition data to understand where your target audience resides and how effectively your marketing efforts are reaching them. This informs future marketing strategies and optimizes resource allocation.
The Voice of the Customer:
- Feedback Mechanisms: Implement multiple avenues for customer feedback, such as surveys, interviews, and support interactions. These qualitative insights provide an invaluable understanding of user experience, satisfaction levels, and potential pain points.
- Sentiment Analysis: Analyze customer feedback using sentiment analysis tools to gauge overall satisfaction and identify critical trends in user opinions. This allows you to prioritize issues and address them directly.
Responding to Performance Indicators:
- Positive Growth: Leverage both data and customer feedback to identify opportunities for further innovation and improvement. Explore potential technology upgrades or feature additions that cater to evolving user needs.
- Negative Growth: Do not shy away from negative feedback. Use it as a springboard for constructive change. Analyze data to pinpoint areas of decline and utilize customer feedback to understand the root causes. Brainstorm creative solutions based on these insights to reverse the negative trend.
