In-Product Marketing: the Greatest Secret high-growth SaaS companies want to keep hidden!
Product Marketing is the process in which you promote and sell a particular product to the customer. Get all your queries answered in detail in this blog.
Jun 23, 2020
Before we surface the world of in-product marketing, it is better if I begin with defining the very term. In-product marketing is the procedure of bringing a certain product to the audience, promoting it, and then selling it to the customers. It mostly centers on understanding the audience that you will be targeting and then marketing it with the right strategies.
The role of a product marketer relies on the sales, marketing, and proper execution of the product teams. Additionally, if I were to speak about its importance – without in-product marketing, it can be very difficult to achieve maximum potential in your business. A great product management strategy hovers around creating online experiences that satisfy business as well as personal needs.
The right strategy in in-product marketing serves as a guide to promote, price and position your new product in the market. It informs you of the steps to take it from development to processing to launch and eventually reach to the users. Given below are 6 such secrets that high-growth SaaS companies generally hide. Come, let’s unearth each one of them now.
Well-defined buyer persona and customer base
The business demand you to know your target audience way in advance. Keeping them in mind will help you to enhance the user-friendliness for any product. In in-product marketing, the first step in the ladder asks you to understand your prospects’ challenges, pain points and needs. This should be specifically tailored to the buyer’s persona.
Not only that, doing steady research on the different demographics, age groups and choices too can play a vital role in the selection of the products to go live. This way, the product and the marketing content that is created will resonate with your audience.
The key is Right Messaging
Your clients might have some queries related to your product, now you would want your product to stand out from the rest, won’t you? Turn those answers into the bullet points behind your product’s marketing strategy!
Some of the questions that you will have to dig about are your product’s messaging. This includes – what are some of the product’s features that are ideal for the target audience, why should we buy your product, what is our USP?
To resolve that, use necessary action words to entice your clients, make sure that the tone used captures the tone of your brand. Aside from this, carefully focus on the benefit of a product as a whole and not about market the specifics.
Pricing too matters
In-product marketing asks you to put a considerate price cap on your product. For that matter, you should opt for value-based pricing. In this case, you set a price to your product based on value.
It slows you to maximize your profit to a large extend. If you wish to flaunt your exceptional features which can give your competitors a good run for the money, his is what you should be choosing for.
It quantifies your item’s value in a manner that your client can relate to their profitability. With this, you can base your product’s price on its value rather than adjusting your price bar to the high and low of the trending industry.
Time for setting Goals
Now your goals can vary as per the size of the market, the product you are seeing, and the type of audience you cater to. More specifically, it will differ as per your business and situation.
Nonetheless, what remains the same is looking for increased revenue, improving the market share in the industry, engaging with clients as much as you can and also enthusiastically boosting brand recognition. These are some of the strategies which might never go wrong. In the end, it is the customer experience that makes all the difference.
Note: You are welcome to combine all of these goals or can strive to focus on one at a time. Every company and product will have different goals, per se.
Drumrolls for Product Launch
Time for the most exciting part that is launching the product which you have been marketing for. Ensure that your marketing and sales team is well-versed with the product’s benefits for starters. Ascertain how the messaging should look like, is there any product demo available or who your ideal customers are.
Again, there are a plethora of factors that can help you do so. That is where the channels of social media come into rescue. Special events, in-stores, blogs and exclusive product previews too can serve the need.
Come what may be prepared to send out only those information, relevant to your product so as to educate your clients about the product and why should they buy it.
Friends through Feedback
Feedback acts as a two-way communication channel. It can support and help the community in a multitude of ways. If you wish to drive viral growth, the first step to energize networking is by building a community with your client base. And your product is the best place to endow your customer community with.
When your clients encounter an issue on the website, do not let them hover and look for support. Instead, put up an instant chat mechanism where all the woes can come to rest. The beauty lies is not making them leave. Now if you don’t them to, be as supportive and active, at all times.
With the aforementioned points, you can easily stem into in-product marketing. Remember, your products can evolve and change in the due course of time, but this process will not. Nevertheless, it is an integral part of the success of your company.
As you create and manage your product’s specific market, you tend to act as a liaison between the different departments and ensure that everyone is on the same page as you. Having said that, marketing if done right is actually not as tough as it can be. But before that know your audience, know what the industry demands and ascertain how that is done.
Simran hails from the content marketing backdrop with extensive knowledge in blogs, articles, and technical whitepapers in the non-fictional domain. She uses her 'gift of the gab' to explore new possibilities on her way and to make an exquisite impact on her readers. In her spare time, she likes to read journals on artificial intelligence or play with her cute kittens. You can connect with her on LinkedIn here.