Product Marketing
Pop quiz: If you had to define product marketing right now, what would you say? A lot of folks have difficulty answering this question, but it’s not your fault. Although product marketing is a prominent department across both B2B and B2C companies, it’s pretty hard to find a good definition of it anywhere — even on Google. What makes it especially difficult is that it’s one of the few job functions that touches product, marketing, and sales. It all comes down to knowing the target customer and testing to find ways to learn more about them and how best to interact with them. Product marketing doesn’t stop once the product has gone to market (if it did, well, product marketers at a one-product company wouldn’t have much to do after the product’s launch). The process of marketing a product as the final step is to ensure the right people are…
During the 1950s, Volkswagen sold a bus. Although now considered a classic vehicle, the bus remains an icon for the car company decades later. The cool part? Volkswagen announced their new VW Bus — it’s electric and features sleek, modern styling. Volkswagen’s marketing for the vehicle is eye-catching, unique, and fun, and it complements the original “hippie” vibe the company was once known for. Image Source Volkswagen also released a TV commercial for the bus that’s clever, minimalist, and on-brand. It introduces the new vehicle with the song The Sound of Silence playing in the background (hint: electric cars are silent) and ends with a short message on the screen for viewers to read: “Introducing a new era of electric driving.” This sentiment touches on the fact Volkswagen is contributing to society’s interest in electric, eco-friendly vehicles. It also relates to this being a new era for the bus. So,…
I once heard a new business owner define their target market as … wait for it … “everyone”. *cringe* While it’s nice to believe that everyone would be interested in purchasing your product or service, it’s not wise to define your target market as such. Not only does this definition (or lack thereof) create way more work for you; it also does a disservice to your actual target market — by over-widening your scope, you fail to inform and educate your audience about how your product or service can improve their lives. This is where segmentation, targeting, and positioning come into play. We developed this guide to help you understand how and why you should invest time into better understanding your audience and targeting your marketing. Let’s dive in. At its core, STP marketing helps you to better target your marketing messages and better serve your customer base. The model…
If you’re a fan of HubSpot’s Inbound Marketing Methodology, you probably understand the importance of customer success. In fact, 70% of businesses with growing revenue prioritize customer success as “very important.” So, if you want your business to succeed you must make sure your customers do, too. By doing so, you can stack the odds in your favor, ensuring the leads you’re passing to your sales team are a good fit for your business through benefit segmentation. In this post, we’ll go over what benefit segmentation is, why you should use it, and where it can be seen in the real world. Why should you do benefit segmentation? Benefit segmentation will help you gain a better understanding of the different needs of your customer base in addition to the following: 1. Benefit segmentation makes it easier for sales reps to convert leads into customers. That’s because your marketing campaigns will…
With a purchasing power of more than $143 billion, Gen Z is expected to shake up the retail industry. Although many in Gen Z are earning their first paychecks, entering college, or just joining the workforce, studies show that the generation shops and spends money much differently than its millennial predecessor. While millennials and past generations were more loyal to brands, Gen Z is more interested in buying products that will give them the best value based on their price. Gen Zers also admits to being more impulsive in their shopping habits than older generations. A Breakdown of Generation Z’s Spending Habits When it comes to the total share of spending, Gen Z accounts for an estimated five percent in the U.S., according to Afterpay’s 2021 Next Gen Index. However, that number is expected to grow 10% by 2030, as most will be entering the workforce. With every age group,…