How to build a successful product marketing strategy for your online store
So, you want to build an eCommerce store? Or maybe you have one but are looking to turbo-charge it? Like becoming a DJ in the 2000’s when you purchased a MacBook Pro, today having an eCommerce store – thanks to the likes to Shopify, Wix and Squarespace – is something far more common than ever before. With the correct plenty of your product marketing strategy, you can create a successful online store for just about anything.
As a basic introduction, the product marketing strategy or marketing plan is the what, when, where, why and how you are planning on taking your product to market, underpinned by objectives, budgets and benchmarks.
Back in the day, it was called the 4’P’s of marketing (product, price, place and promotion), then it expanded to 7 (including people, physical evidence and processes), however, with the introduction of eCommerce it has iterated once more.
Product marketing strategy elements your business or online store should be aware of
There are six key elements that must be understood before you take anything to market and forming the basis of your marketing strategy for your online store. Elements of the marketing strategy are outlined below:
– To put it simply, your product, service, app or whatever must be solid. It needs to work, and you need to be solving a problem for your customer base – even if it’s a problem people didn’t know existed. Take Google for instance, when Larry Page and Sergey Brin set out to create a search engine – I bet you didn’t know you needed that solution, not most of us can’t live without Google.
Ask yourself “What problem does my product solve?” and “how does it make users/clients or customers’ lives better?”, once you have that down – you can start looking at the audience.
Target Audience –
with any product marketing ideas, you need to understand who you are selling them too. And in our eCommerce driven world, that is easier than ever before. We are able to target people by demographics (Age, Gender, Marital Status, Professional, Education, Location, Socioeconomic status, hobbies you name it).
The key is to ensure your strategy is created with your audience in mind, not simply yourself.
Brand & Product Messaging –
How is your narrative appealing to the target audience you have pre-determined and building in the needs, wants and demands of the product sets you have created?
Brand marketing agencies specialise in creating brand & communication guides, which outline how to communicate, to whom and when. Not only that, but what typeface to use, how to use logos in design, what not to do and where not to communicate. Sure you may have a great product, but marketing agencies, and specifically brand marketing agencies specialise in this – so you need to ensure you have this down.
Sure, you might be a single operator, you may want to keep things lean. But you can’t do this alone! Be you bring in a partner, or a marketing agency, a digital agency, a design agency it’s up to you, but one thing is for sure – you need help.
Bringing in a brand marketing agency to work with you to create your brand, messaging and define your target audience, then a digital marketing agency to activate, promote and grow your business is the perfect strategy in terms of people – as you get the best, but don’t have to change the size or scope of your operation with staff.
So, you have your product, your messaging, your people and processes, so let’s get promoting! It’s not only about discounting or offering a ‘value add’ to your purchase, it’s about setting up content that inspires people to engage with your brand/product/services, promoting the features, advantages and benefits of your offering – not just saying ‘please buy me’.
A promotion should be saying, ‘this is how we are part of your world and can make it better, easier, happier. Promotion is not simply about product marketing ideas, but the channels by which you communicate that message and promotion. Some of these include:
- Social Media
- Content creation and marketing
- Advertising –digital, direct and traditional
Through utilising a Melbourne based digital marketing agency, you can activate a strategic plan down to the smallest degree, effectively target the key audiences and use the best communications channels to speak directly, efficiently and effectively to your target market.
Six times return on your marketing investment (ROI) sounds a lot better than spending money unnecessarily doesn’t it – then speak to a digital marketing agency who specialise in ROI, don’t just do it yourself.
Review & Analysis
One of the most important – and often overlooked – elements in any successful product marketing strategy for your online store is review and analysis.
Thanks to Google Analytics, WooCommerce, Shopify, Facebook, Twitter, LinkedIn, Instagram and others, there is almost too much data to review and interpret for your online store.
This is where a marketing agency or digital marketing agency comes in, with the expertise to know what they are looking for, where to find it and how to best exploit it, leading to the ongoing success of your online store.
When it comes to developing a successful product development marketing strategy for your online store, stop being overwhelmed at the success of others, or how much data there is for you to absorb or interpret, book a meeting with Roemin to get an obligation free marketing strategy and a quote.
Roemin are a Melbourne based online marketing & digital marketing agency, with turnkey services from strategy, brand development, website & content development, PR, essentially every element to start your eCommerce journey and take it to the next level. We specialise in all the solutions you need for your product marketing strategy and offer an obligation free marketing strategy and quote for businesses looking to expand on their digital marketing endeavours. Get in touch today to find out more.