Role of Product Marketing in B2B Sales
Marketing a new software product simply means doing activities to increase product visibility to produce more customers for this product. However, according to a Deck 7 study, product marketing plays another role in accelerating B2B marketing with new ideas.
Setting
Your product needs to be recognized by the right audience to bring the desired results. The product marketing approach thus enables the right placement of your product to reach your target audience (TA). This activity is equally important in educating your audience and your marketing team through effective communication.
This works well when you are making many new marketing ideas for the product. Here is an excerpt from a Media 7 interview of the CEO of the world's largest commercial and event organizer highlighting the importance of the format you choose to market your product in the current situation.
Understanding Competitors
While there are many ways to understand what your competitors are doing, product marketing is one way too. Knowing the strengths and weaknesses of your competitors gives you the edge to allow you to sell your product in a way that will generate more sales.
Determining TA Identifying your client's personas is not limited to demographics, but also their preferences, previous purchasing experience, and the like. Product marketing in this area gives ideas on the products to be marketed, what kind of people you should aim to target, and how much they are willing to pay.
Coordinating customer travel
Whether it is an IT product marketing strategy or another B2B marketing strategy, product marketing plays an important role. Because when you understand the needs and requirements of your customer you can better place your product. Product marketing aligns the consumer's journey and helps him make informed purchasing decisions.
Defining Product Benefits
Product marketing is a great way to explain the benefits of your product. B2B SaaS vendors can design and implement a product marketing strategy that highlights the product’s ability to convert potential buyers into two customers.