How To Measure Product Marketing Success

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Product marketing is a method of advertising and promoting a product to an end user. It is also known as promotional marketing, retail marketing, or packaged product marketing. Essentially, product marketing consists of a method of creating awareness of a product for the targeted consumer in a marketplace. Additionally, product marketing is defined by being the primary intermediary function between product creation and increasing product knowledge. The main aim of product marketing is to attract customers to the selling point of the product.

Achieving the above-described objective of product marketing important requires considerable market research. Market research not only helps identify potential opportunities in the marketplace, but also identifies customer needs. In order to assist product marketing, there are two important components. These include an effective positioning strategy and an effective promotion strategy. A successful product marketing campaign begins with a successful launch. The effective launch will draw customers to the product launch and position the product marketing in an industry-relevant manner. A series of tests and one or more product management test campaigns must be conducted to assess the success of the launch and achieve the desired results.

Once the launch of the product marketing campaign is under way, marketers must establish a continuous track record of achievement. Marketers must have a great product marketing plan which includes regular post-launch evaluation, alignment with SEO objectives and measurement of ROI. Having a good post launch performance measure and a clearly defined marketing action plan enables marketers to make informed decisions on the next steps to take.

One of the best ways of measuring product marketing success is through the use of demand-generation models and narratives. The use of demand generation models or demand stories enables marketers to understand consumer behavior better and therefore shape their messaging in future product releases. There are two types of demand generation models: qualitative and quantitative. With the use of qualitative narratives marketers gain a deeper understanding of customer behavior by capturing their essence. Quantitative narratives allow marketers to create reports that can be analyzed by the marketing team.

Another important way for product marketing success is through a concerted effort from the product marketer, the creative product developer and the marketing department. All three play a significant role in the ultimate success of the product. The product marketer develops market concepts, designs the products and seeks to create a favorable impression with the customer. The product developer creates the software and interfaces necessary to enable smooth product testing. Finally, the marketing team creates the marketing campaigns necessary to bring the product into the marketplace.