There are various marketing approaches to sell your brand. However,…
There are various marketing approaches to sell your brand. However, you have to make sure that the strategy you’re using aligns with your goal. As a marketing strategist, you should familiarize yourself with the differences between product marketing vs growth marketing.
Growth and Product Marketing are subject to some similarities and distinctions. However, there are many opportunities for these concepts to work together. Above all, they possess a significant similarity with one another: your company’s success.
There is a lot of difference between product marketing and growth marketing. Yet, both are crucial to a company’s success. However, not all CEOs know the difference between product marketing vs growth marketing.
What Does Product Marketing Mean?
Product marketers talk about the value of their products to the right customers at the right time. Successfully bringing a product to the market and keeping it there is their responsibility.
Product marketing professionals are masters of messaging, positioning, and research. You must inform your target audience about what you are selling. Also, you have to identify your most vital selling point based on the customer’s core values.
They serve as a bridge between the product and marketing teams. However, you should not confuse them with product managers. Product managers are responsible for the actual development and roadmap of a product.
The goal of product marketers is to bring products to the market successfully. They are responsible for driving demand and usage for products.
What Does Growth Marketing Mean?
The process of growth marketing involves creating and managing campaigns that can turn leads into conversions.
Growth marketing is the general approach by which you need to reach a larger audience and test different channels. It’s possible to consider growth hackers as the “mad scientists” of a company. They constantly develop cutting-edge strategies to build and maintain a customer base.
Afterwards, they hypothesize and analyze strategies till they multiply growth in large numbers.
Growth hackers focus more on users – they evaluate how users encounter their product for potential satisfaction and new channels.
Product Marketing Vs Growth Marketing — Know the Difference
Growth marketing became associated with several high-profile initiatives by business-to-consumer (B2C) companies such as Airbnb. Business-to-business (B2B) startups began to see this viral success as an opportunity to accelerate customer acquisition.
One important distinction is that Product Marketing focuses more on creating pre-sale value. On the other hand, growth marketing focuses more on post-sales value creation. Depending on how business models are structured and what type of product they come in, these dynamics can vary from company to company.
Consequently, Product Marketing tends to align with acquisition-oriented teams like Sales and Marketing. Conversely, growth tends to be a partnership with retention-driven teams like Product, UX/Design, and Customer Success.
The methodology of creating value is another distinction. Product marketers often operate from a “story-first” mindset, while Growth pros tend to focus on a user-first attitude.
Adding some granularity to the distinctions, we should note that both roles operate differently in B2B and business-to-consumer (B2C) environments. B2C companies often have Product Marketing teams that are smaller and focus more on messaging across the brand. Meanwhile, Growth marketing may operate as more of a product team’s commercial and business development arm.
Finally, you now know the difference between product marketing and growth marketing. Remember, product marketing tends to focus more on the reputation of the brand being sold. Product marketers establish an excellent reputation for their products by selling them to various potential clients.
On the other hand, growth marketing invests a lot of effort in researching and testing possible marketing outcomes. Growth marketers are frequently referred to as the “mad marketing scientists.” The reason behind such a tag is their ability to predict the success of marketing strategies through mere computation and estimation.
Now that you know the differences between product and growth marketing, which of the two do you think will work for your business?
Frequently asked questions
How should product and growth work together?
In contrast, Product can also unlock opportunities for growth to test. Small features are built upon just-real-enough data for customers to use and share feedback on, so Product/Engineering creates a growth testing platform.
What is product marketing and why is it important?
Product marketing can help product teams provide feedback and marketing insights. As a bonus, it helps marketing and sales teams position their products well. Marketing is essential to increasing lead generation and sales for companies.
What is the difference between product marketing and marketing?
Marketing is responsible for translating that knowledge into blog posts, ads, and press releases.
What is product & Growth analytics?
Analytics looks at user behavior while interacting with the product, and growth analytics looks at general user behavior. Cost analysis, marketing channels, campaign performance, and funnels that convert users into customers who use goods and services are increasingly being studied.
What is the difference between growth marketing and product marketing?
There is one significant difference between Product Marketing and creating pre-sale value. The growth marketing industry, on the other hand, focuses more on post-sales value creation. These dynamics can vary from company to company depending on how business models are structured and what type of product they are used to produce.
What are examples of product markets?
In product markets, all kinds of goods and services are manufactured and traded, such as airline travel, smart phones, new cars, pharmaceutical products, and financial services like bank accounts, mortgages, and pensions.
What is the role of product marketing?
It is important that the sales and marketing teams are aligned so they can provide opportunities and grow them efficiently.
Is growth market a demand generation?
Do you think growth marketing and demand generation are related? Growth marketing is a method that combines funnel optimization and end-to-end optimization to create long-term growth in several areas, like traffic, revenue and ROI. Using demand generation to increase sales and move leads through the supply chain, is an effective strategy.
What is the difference between growth and product?
We are very intentional about building and expanding this core value, the core features that make people want to use your product. The goal for growth teams is to get the most percentage of your target audience to experience your core value as quickly as possible.
What is difference between performance marketing and digital marketing?
Performance marketing and digital marketing differ from one another through different approaches. Using paid search, social, and display ads to increase performance is part of a successful performance marketing strategy, but traditional digital marketing is often focused on vanity metrics, such as reach, impressions, or likes.
What is the difference between growth marketing and performance marketing?
Growth marketing focuses on the marketing strategy that continually brings new customers to your business, whereas performance marketing aims to increase user impressions, clicks, and leads. Marketing tactics are driven by revenue and customer retention.
What is growth in marketing?
Growth marketing focuses on customer relationship building and promoting loyalty; authenticity and engagement create advocacy and organically grow customer lifetime values.
What does marketing a product mean?
The process of product marketing involves bringing a product to market. This involves setting the product’s positioning and messaging, launching the product, and making sure salespeople and customers understand it. The goal of product marketing is to drive demand and usage of products.
What is growth in product?
Product Management is the process of increasing an existing product’s value and user base. Growth Product Management aims to improve an existing product’s success, rather than its traditional counterpart, which focuses on managing all the activities necessary to launch a profitable product.
What is the difference between growth and performance?
One of the biggest differences between growth and performance cultures can be summarized as two questions: “A performance culture asks, ‘How much energy can we mobilize?’ and the answer is only a finite number.”. Growth cultures ask, ‘How much energy can we liberate?’ The answer is infinite.”.