A challenge product marketers face is communicating a product’s value proposition to an audience that doesn’t regularly deal with it. You can overcome this barrier with an effective product marketing strategy that engages potential customers. This article discusses product marketing examples, brands that nailed their product marketing strategy and have an excellent customer base.
A relatively simple activity can quickly establish a connection with potential customers. Showing a practical solution to the problems your target audience face is one such activity. Let’s look at the activities other brands used to stay on top of their game.
The Concept of Product Marketing
Product marketing is the process of bringing a product to the marketplace. It includes all the work done by a company to promote products to their customers. It aims to ensure that customers are well-informed about the product and the problems it solves for them. A company may advertise a new product to its audience to gain loyalty.
The process of product marketing begins with the creation of a product. It also includes defining the target audience, finding the appropriate channels to reach them, and testing the product by leveraging targeted marketing strategies.
Product marketing can be seen in any or all stages of the product design and product life cycle. This includes project management, market research, pricing, promotions, advertising, distribution and logistics, sales, and after-sales services.
6 Inspiring Product Marketing Examples
Now that we understand what product marketing entails let’s look at the strategy some well-known brands used to attain business success.
SoFi’s product marketing strategy is emotional marketing; they sell emotions rather than the product. No one wants the product you sell. People want a solution to their problems. It will help if you show them that you understand their situation and then offer them a solution.
The unique features and benefits your product offers will almost not influence the consumers’ purchase decisions. Incorporating inspirational words can be the ultimate game-changer. Emotional marketing doesn’t necessarily mean telling sober stories. Use emotional and expressive words to elicit a feeling with the product.
Schlitz ranked eighth among American brewers in the early 1900s and had little hope for growth. They followed the same protocol other brewers did; tell the public about their beer’s purity without clarifying what pure meant. Schlitz decided to show the public how the beer is made and went from eighth to number one in a few months.
Product descriptions are not enough; tell authentic stories that involve your potential customers, take them behind the scenes and elicit emotions. This is how you get them to buy your product.
Nike’s success results from the product marketing strategy of doing what competitors won’t do. Nike was just another regular shoe brand when it entered the shoe market. In the 1970s, it engaged a marketing tactic of celebrity endorsement, and its revenue catapulted.
Think of something your competitors wouldn’t do and try it. It might be something unpopular, but your success may lie in there.
4. Grow and Convert
Grow and Convert is a content marketing agency. The team wanted to change the agency’s positioning so that they could attract clients with big budgets. They wanted to be recognized as an elite and high-end service. To achieve this, they included competitive analysis to identify the gaps in the market. They found three gaps; a lack of content promotion, a content marketing agency focusing on leads, and few agencies providing high-quality B2B content.
With this information, they rebuilt their service offering. They also created a product marketing strategy to display how they’re the best solution to occupy these gaps.
Coca-cola’s product marketing strategy is based on its target market switch and proper positioning in the market. The company was formerly a pharmaceutical company that produced a medicine that cured headaches and fatigue. In the 1800s, they changed their focus to the soft drinks market. This switch in their audience and a proper market positioning has put them on top.
ASOS identified a challenge that hindered online buyers from purchasing their products. They discovered that since their customers had no option of trying the clothing items, they were skeptical about purchasing. To bridge this gap and solve this problem for consumers, ASOS offered free shipping and returns worldwide.
But that’s not all. They also incorporated visual marketing to ensure potential customers see the product they’re interested in buying from all angles. They use videos to show customers how the clothes look in an actual person. ASOS also uses social proof on their pages by having people upload photos of the clothes they bought. This act helps them build credibility.
Most consumers consider a product’s visual appearance before making a purchase decision. Use visuals to show what your product looks like and how it works. Also, consider your target audience’s problems with purchasing your product and provide a realistic solution.
An excellent product marketing strategy is key to creating a successful business. While it is good to learn from the product marketing strategy of your competitors, never replicate it. Instead, create a unique positioning and messaging for your brand. The product marketing examples in this article can fuel your creative process.
You want to grab the attention of your potential customers. So, understand your target audience, and identify the problems they have and the expectations they have about your product. Instead of showing them the features and benefits of your product, show them how your product solves their problem.
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