Effective Product Marketing

Yesterday , I started a 2-day workshop on Effective Product Marketing presented by Pragmatic Marketing .

We spent the day on:

1. Management Goals
2. Inbound Product & Market Data
3. Audience Persona Profiles
4. Target Audience & Segmentation
5. Messaging & Programs Strategy
6. Selling & Buying Process
7. Marketing Assets & Liabilities
8. Marketing Plan

As I reviewed my first day, the list above me reminded very much of what we go through in our Duct Tape Marketing programs:

1. Strategy before Tactics
2. Target Market
3. Ideal Customer
4. Core Message

Though I think their words ring a little more true with their target market, I believe that the message is very similar to ours. But let me tell you first who I am in the room with:

1. Technology Customers
2. Companies with 200+ employees
3. Product Marketing Managers

When I review who Pragmatic Marketing says they are: “Experts in technology product management and product marketing,” I believe they have done a good job in capturing their target audience.

Ok, so what did I learn.

1. I learned that the core messaging for strategy is very much the same for small and large companies. They may have many more segments but may end up being less defined as a result. This to me presents a huge advantage for small business. The more we move to our niche the more we can dominate. We have a great opportunity to develop a message, expertise and relationship with our prospects(customers). However, there are companies doing it very well with customer-focus groups and other tools that were discussed, small companies still have to earn the relationship.
2. Win/loss analysis : We simple do not spend enough time looking at why we won and even more why we lost. Especially important is finding out the reasons behind losses. Something other than price, delivery, etc. A trick mentioned is make sure this is not part of the sales process or using  someone that was part of the sales process to get the answers.
3. Get out from behind our desk and with customers. I think that is more of a problem with largest companies but it still holds true with many small companies that are product driven. Seldom can you maintain a competitive advantage by product alone, huh?
4. The personas, ideal client was rather a lengthy discussion and very useful. But honestly, was amazed that we were having this discussion base on the individuals that were attending the meeting. I felt this would completely understood and old news to these companies and it was not. However, what it showed me was how all this data is available at a rather inexpensive price for most of us and our ability to use such data to our advantage.
5. List Marketing : This was the terminology that was used to describe the marketing function. It is one that I struggle with on a daily basis in explaining what I do because I believe that is how most look at marketing. What event, ad, paper written, article published is how marketing is measured.  I believe that is the fault of us marketers though. We seldom work with clients basing performance on drivers. Typically, it is always and end result with a checklist on what we are going to do. John Jantsch told me once to work through the process with a customer and they will end up with a system without even knowing it. Selling a system is tough! Should I re-think my strategies?