The digital realm is a crucial component of every company’s marketing today. The use of digital media is widespread, and you definitely need a strong product marketing strategy to grow and thrive.
Most companies invest a lot in digital marketing. However, only those who do it right get great returns. According to a recent study, as many as 49% of businesses that use digital marketing don’t have a defined product marketing strategy. With a defined product marketing strategy, you can easily track and understand consumer behavior and improve brand awareness.
As a marketer, you don’t just aim for short-term conversions, but also to build long-term brand awareness with your campaigns. A proper digital marketing strategy can help you with these and much more. Here are 8 of the most successful ways to amplify your product marketing strategy in the digital space to drive returns.
1. Have Clear Goals
When you’re starting to build your product marketing strategy, make sure that you set clear goals. Be it in terms of leads, conversions, engagement, or even downloads, you need to have a specific target in mind.
It can be difficult to implement your product marketing strategy without having clear goals. And measuring your success from your campaign becomes more difficult without knowing your objectives. Setting objectives allows you to change your product marketing strategy based on the results you are getting as well.
The only thing you need to keep in mind when creating your objectives is to make sure they’re achievable and measurable. Only then will they be useful in your product marketing strategy. For example, increasing website traffic is a vague objective - one that you cannot measure. Instead, increasing website traffic by x% gives you something specific that you can work towards.
2. Identify your Target Audience
Finding your target audience is of the utmost importance as it helps you reach people who matter the most - people who are likely to convert. Not only does this increase the number of relevant leads you get, but it also improves brand perception through positive word-of-mouth. This is why it is such an important part of all marketing strategies, not just your product marketing strategy.
You need to first create a consumer persona in order to identify your target audiences. Using demographic and location data, you can devise your strategies effectively. You can also target based on qualitative information like goals, hobbies, interests, or priorities.
For example, when you run ads on Facebook, it allows you to choose the audiences you want your ad to be displayed to. You can select specific locations, age groups, genders, and even interests. This ensures that your ads are only displayed to people who are likely to be interested in your products or brand. Such targeting can improve your chances of engagement and can improve your product marketing strategy.
Image via Facebook
3. Use Search Retargeting
Search retargeting involves targeting users based on the previous keywords that they have used in search engines. This allows you to connect with people based on their interests. As these users are already looking for something similar, your chances of conversions are higher. This is why it can be used to amplify your product marketing strategy and increase your revenues.
You can even dig into your competitors’ audiences base by retargeting your ads to people searching for them. This can draw attention away from your competitors and bring you some valuable customers. This is a great way to promote your business when you have a small budget.
4. Use Social Media Marketing
Many brands fail at effective social media marketing because of their practices. What they fail to understand is that social media isn’t just a platform to broadcast your messages. It is a great way to engage and build real relationships with your audiences.
A perfect social media strategy involves effective social media practices and is an integral part of a product marketing strategy. Take the time to respond to comments on your social media posts, thank your followers, help them when they need something. If they’re looking for information, be proactive and help them find it.
Also make sure that the content you share is truly interesting, engaging, and informative. Include calls-to-action that encourage people to engage. Set up quizzes, polls, contests, or giveaways to increase participation. You can even feature your followers’ content that mentions you on your pages.
You could also encourage your followers to create content for you. For this, you can create a branded hashtag and ask your followers to create content and use the hashtag. From these posts, you can feature your followers on your page.
This will motivate them to create more content for you because they may get to be featured on your page. It also gives you unique content to share on your page and shows the connection you have with your followers. This can take your product marketing strategy to the next level.
Image via Twitter
Just remember not to post spammy content as it can tarnish your brand’s image very quickly.
5. Use Retargeting
Retargeting can be done in different ways. You can target people who have interacted with your social media pages in the past or who visited your website. You can even target the people who have read your emails or searched for your product. Retargeting can help you convert a person who has already shown some interest in your product.
Social media platforms such as Facebook allow you to retarget your ads based on certain conditions. You can reach those who have liked your page, opened your link, engaged with your previous ads, and more. This can help you retarget people easily and promote your products to them again.
Image via Facebook
By showcasing appropriate advertisements, you can help the consumer to consider your products further. Retargeting can drive a huge return on investment if done correctly. A recent study by TrustWorkz found that $150 spent on Facebook ads generated over $6000 in sales.
6. Create Mobile-Friendly Campaigns
Today, consumers are always on-the-go and heavily dependent on mobile devices. In fact, almost 62% of all impressions on Google in 2019 Q1 in the USA were from mobiles. This means that to reach a major chunk of your customers, your content need to be mobile-friendly.
It is a critical part of an effective product marketing strategy. You can achieve your goals with greater ease if you are visible where the majority of your audience is. That is why it is absolutely important to make your content mobile-friendly.
Image via Instagram
There is a lot that you can do to incorporate mobile into your product marketing strategy. For example, you can allow the use of a mobile wallet and create ad content that is optimized for mobile. Social media websites provide buy buttons that take the consumer to the product page directly. This can also help increase sales.
Your website should also load quickly as people are always short on time. In fact, according to Akamai, every second more that your page takes to load can reduce your conversion rates by 7%. This makes it an extremely critical part of a product marketing strategy.
To check your website’s page loading speed, you can use Google PageSpeed Insights. It shows you the page loading speed for both desktop and mobiles and gives you a score out of 100. Additionally, it suggests some changes that can even help you improve your page loading speeds.
Personalization can help you grab the attention of customers with ease. The more your campaign can be personalized for each individual, the more chances there are of conversions.
A personalized email or offer can go a long way to get a consumer to consider your product. Whenever possible, it is a great practice to personalize your campaign as much as possible. The personal touch can make a tremendous difference and should thus be a part of every product marketing strategy.
Influencer marketing is a great way to personalize your campaign. With it, you can collaborate with people who have vast fan-followings on social media and ask them to promote your products. Their audience is usually close-knit and highly-engaged, and they swear by the recommendations of the influencer. This can help increase your reach and can amplify your product marketing strategy.
It speaks directly to your target audiences and has a human touch to it. This can go a long way to drive conversions and can boost brand engagement as well.
Image via Instagram
8. Measure All Parameters
This is one of the most important ways of ensuring that your product marketing strategy is working. You must keep measuring all of the parameters of your digital marketing campaign on a regular basis.
It is important to measure as much data as possible as this can show if your product marketing strategy is working or not. Even in the case of influencer marketing, brands must calculate their ROI and other parameter
These analytics can help you figure out which strategies are working and which are not. Based on your analysis, you can modify your product marketing strategy and fix any issues.
In a nutshell, there are loads of things you can do to get your product marketing strategy right. Identifying your consumer personas, targeting the right audiences, analyzing data, and retargeting can amplify your returns. There is no single perfect way of getting your product marketing strategy right, but continual analysis can definitely help you get closer to perfection.
Have you used any other methods to amplify your product marketing strategy effectively? If so, please let us know in comments below. Or if you have any questions, feel free to share them in the comments.
Brian Mechem is CRO and Co-Founder of GRIN, the #1 software solution for direct-to-consumer brands who run influencer marketing programs. GRIN's software powers some of the best influencer programs in the world, providing insights on ROI and adding efficiency to the influencer marketing process.