What do you do if your product marketing team needs help prioritizing and allocating resources?

Starting with the essentials is key. What would not be missed if left out? What only influences the top 10% and is not crucial for realization? A list of guiding questions can be particularly helpful, especially for young team members who may not have much experience with prioritization yet.

Market Research: Understand your target audience, their preferences, and needs. This helps identify which segments are most lucrative and deserving of resources. Competitive Analysis: Evaluate your competitors to identify gaps in the market or areas where you can differentiate your product. This informs resource allocation to areas where you can gain a competitive advantage. Product Analysis: Assess the strengths, weaknesses, opportunities, and threats (SWOT analysis) of your product. Allocate resources to areas that enhance strengths and address weaknesses. ROI Analysis: Calculate the potential return on investment for different marketing strategies and channels. Prioritize resources to initiatives with the highest expected ROI.

Start by assessing current projects and their alignment with strategic objectives. Identify high-impact initiatives and allocate resources accordingly, considering factors such as potential ROI, market demand, and resource availability. Collaborate with cross-functional teams to gather insights and ensure alignment with overall business goals. Implement project management tools and frameworks to streamline workflows and track progress effectively. Regularly review and reassess priorities to adapt to changing market dynamics and emerging opportunities. By taking a strategic approach to resource allocation, you can optimize productivity and drive meaningful results for your product marketing efforts.

Start by clarifying goals and objectives. Then, assess the urgency and impact of each task or project. Consider using frameworks like the Eisenhower Matrix to prioritize effectively. Regularly communicate with stakeholders to align on priorities and make data-driven decisions. And don't forget to regularly review and adjust priorities as needed. By adopting a strategic approach to resource allocation, you'll ensure your team focuses on high-impact initiatives.

Business Objectives: Align marketing priorities with overall business objectives. Identify marketing activities will have the most significant impact on achieving these objectives Target Audience: Prioritize marketing efforts towards segments of the target audience that are most profitable or have the highest growth potential. Product Lifecycle Stage: Consider the stage of the product lifecycle. For new products, prioritize resources towards awareness-building activities. For mature products, focus on retention and loyalty programs Budget Constraints: Consider budget constraints and allocate resources to maximizes impact within the available budget. Focus on cost-effective strategies that deliver results

Budget Allocation: Allocate your budget based on the priority of different marketing activities. Consider factors such as cost-effectiveness, potential ROI. Channel Selection: Choose effective marketing channels to reach target audience. Allocate resources towards channels where your audience is most active and engaged. SEO and SEM: Allocate resources towards search engine optimization (SEO) and search engine marketing (SEM) to improve your website's visibility in search engine results pages (SERPs) and drive organic and paid traffic. Analytics and Measurement: Allocate resources towards tracking and measuring performance of marketing activities. Use analytics tools to monitor key performance indicators (KPIs).

Establish Key Performance Indicators (KPIs): Define KPIs that align with your marketing objectives, such as website traffic, lead generation, conversion rates, customer acquisition cost (CAC), return on investment (ROI), customer lifetime value (CLV), etc. Compare Actual Performance with Targets: Regularly compare the actual performance of your marketing activities with the targets and benchmarks you've set. Identify gaps between expected and actual performance and investigate reasons behind them. Conduct A/B Testing: Implement A/B tests or multivariate tests to compare different marketing strategies, messages, or creative elements. Monitor the results to determine which variations are most effective and allocate resources accordingly.

PMMs will often face competing requests from multiple stakeholders that involve tactical outputs. For example, sales enablement collateral, reviews of product-written release notes, helping customer success with onboarding flows or writing copy for LinkedIn campaigns. However PMMs also need time for strategic initiatives, such as customer and buyer research, positioning reviews, competitor intel, internal feedback forums, analyst relations and more. It's important for senior leadership to avoid pigeonholing the PMM into content creation. Instead, empower PMMs to divide their time between different initiatives and teams, as this will bring back huge benefits to the company.

Clear Communication: Clearly communicate the company's goals, marketing objectives, and budget constraints to the marketing team. Ensure that everyone understands the big picture and how their efforts contribute to the organization's success. Training and Development: Provide training and development opportunities to enhance the team's skills in relevant areas. Equip them with the knowledge and tools they need to make informed resource allocation decisions. Encourage Collaboration: Foster a culture of collaboration and cross-functional teamwork within the marketing team and across other departments. Encourage open communication and idea-sharing to facilitate better resource allocation decisions.

The first issue, I think, should be solved is understanding types of resources you have. It is necessary to know what you will gain from it. When you know what you want to reach to will help you choose the best one. Make a list of your resources and rate them based on what benefits comes from each. After that, based on your budget and your prioritize list you can choose conveniently.

The first issue, I think, should be solved is understanding types of resources you have. It is necessary to know what you will gain from it. When you know what you want to reach to will help you choose the best one. Make a list of your resources and rate them based on what benefits comes from each. After that, based on your budget and your prioritize list you can choose conveniently.