What is a Product Marketing Strategy?
A product marketing strategy is a plan that outlines the objectives and activities necessary to successfully promote a product. It includes research and analysis of the current market, the product, competitors, and potential customers. It also includes budgeting and tactics for how the product will be marketed, such as through social media, digital campaigns, and traditional advertising. By creating a product marketing strategy, teams can ensure that all efforts are unified in achieving the same goals.
What's included in this Product Marketing Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Product Marketing Strategy template for?
The product marketing strategy template is designed to help teams of all sizes and industries create an effective strategy to market their products. The template includes sections to define clear focus areas, objectives, measurable targets, projects, and KPIs. By using the template, teams can develop a comprehensive strategy for product marketing.
1. Define clear examples of your focus areas
Before creating a product marketing strategy, teams should identify the key focus areas they need to address. These focus areas will help teams understand what objectives to set, what activities to prioritize and how to track progress. Examples of focus areas include increasing product awareness, lead generation, and customer retention.
2. Think about the objectives that could fall under that focus area
Once focus areas are identified, teams should define objectives that need to be accomplished in order to achieve the desired outcome. Objectives should be measurable and specific, and they should clearly state what needs to be done in order to be successful. Objectives could include increasing brand recognition, increasing product education, increasing lead capture rate, and decreasing churn rate.
3. Set measurable targets (KPIs) to tackle the objective
To ensure that objectives are achieved, teams should set measurable targets (KPIs). KPIs should be specific, measurable and achievable, and they should reflect the progress of the objective. Examples of KPIs include increasing followers by 10%, increasing blog readers by 15%, and increasing lead capture rate by 5%.
4. Implement related projects to achieve the KPIs
Once the team has identified measurable targets, they should create projects (actions) that are necessary to achieve the KPIs. Projects should be achievable and relevant to the objective, and they should be designed in a way that will help the team reach their desired outcome. Examples of projects include creating a social media presence, developing a lead generation form, and creating customer loyalty programs.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
The Cascade Strategy Execution Platform is designed to help teams execute their product marketing strategy faster and more effectively. It enables teams to create action plans, track progress, and measure performance in real-time. By using Cascade, teams can ensure that their product marketing strategy is executed efficiently and effectively.