Note №4
★ Product marketing / awareness->consideration->conversion
So today I’m back with a bit more creative topic, not to make everything about numbers.
But please look at the last 3 notes, maybe you will find them useful:
#note1 ★ Responsibilities of a PM
#note2 ★ Financial stuff / P&L (Profit & Loss)
#note3 ★ Product Price Structure
I believe everyone thinks about marketing when the time comes and there are a lot of different techniques and strategy’s like 4P marketing (Product, Price, Place, Promo), SWOT (Strengths, Weaknesses, Opportunity, Threat), 3D (Direct. Digital, Data-CRM) and probably many others. I would like to highlight, that I’m not an expert and learned on practice, so I will be sharing my vision on these strategies and how I used them.
So, what about awareness->consideration->conversion?
Well, everything comes down to these 3 stages. Of course, there is always more, like retention and acquisition, etc., but we will start with the 3 main ones.
Awareness – inform the audience about a new product that will soon be available on the market. It’s better to get high attention and good buzz for the product during the time of announcement of product. To do so I would use different digital marketing instruments, closed NDA offline event with journalist and bloggers, so when the embargo (time when all media have the legal rights to start posting content) is lifted the journalist and bloggers start flooding the web with information about product, also a line of retails marketing activities (offline) is done.
Consideration – the idea is to get our audience interested in our product and get them thinking on reasons to buy. For this stage I would work with digital marketing campaigns thru agencies, social media marketing and engage with bloggers, opinion leaders, journalist providing them with test products to get their opinion (both barter and paid reviews) and bringing traffic to our official webpage with product info.
Conversion – stage that brings us the money. In this stage I already built up my products image in the market and now I must make it more desired than the competition. There are also multiple instruments to improve the conversion, but promo price / gift promo are the ones that will get the conversion up if you set the price right (electronic products).
@ lightonus #pmnotes #note4
Tag along, take care and see you soon!