Navigating the Product Marketing Maze

Greetings and welcome back to my #marketingchronicles. I am delighted to share Chapter 4, where we dive into the world of product marketing.

Let's start with the basics. Product marketing, to the uninitiated, might appear to be just another marketing sub-function. In reality, it's a critical discipline, bridging market and customer intelligence, messaging and positioning, pricing and packaging, go-to-market strategies, all aimed at ensuring product-market fit and driving demand. It's been a constant theme in my journey, evolving with every product, market, and role.

First, let's address a common confusion: Product Marketing vs. Product Management. In many organizations, these terms are mistakenly used interchangeably. Yet, they have distinct roles that meet at the crossroads of strategy and execution.

In essence, product management is about building the 'right' product. It focuses on understanding customer needs, setting the product direction, and working closely with development teams. The Product Requirements Document (PRD), a blueprint of what to build, is their key deliverable.

Product marketing, on the other hand, is about ensuring the product built is the 'right' one for the market. It includes developing go-to-market strategies, crafting messaging and positioning, competitive analysis, and enabling sales. The Market Requirements Document (MRD), which communicates the customer’s voice, market conditions, and competitive environment, is the product marketer's essential tool.

Now, armed with these foundational insights, let's dive deeper into the different aspects of Product Marketing.

Product Marketing vs. Solutions or Industry Marketing

As companies mature and their GTM models evolve, the product marketing organization starts to expand focusing on specific solutions for different business segments or industries, typically complementing the structure of the Sales Organization. At Adobe Marketo , the PMM team was organized by product and segment (SMB, MM, ENT and Customer).

At Quest, multiple products are organized under various categories or solutions for Data Governance, Data Protection, Unified Identity Security, Migration & Consolidation. Depending on how closely these categories are related to each other, they may be grouped under one Segment PMM or have a dedicated PMM for each category.

Some industries, due to their highly regulated and specialized nature may require a dedicated PMM expert. Federal Government, Healthcare and Financial Services typically fall into that category.

Should Product Marketing report into Product or Marketing Organization?

Product Marketing position within an organization depends on the company's goals, business model, and stage of growth. In more traditional sales led companies, Product Marketing typically sits within the Marketing team. In a PLG-focused company, Product Marketing's role is more dynamic and connected to product usability and adoption. A close alignment with the Product team, complemented by robust collaboration with Marketing, tends to drive success in this model. Some companies adopt a flexible alignment, allowing Product Marketing to work closely with both Product and Marketing teams or moving Product Marketing from Marketing to Product when necessary, adapting to the company's needs and market dynamics.

Now, let’s review some of the pillars of product marketing.

1. Market Research: Customer and Competitor Intelligence.

Regular market research, focusing on customer and competitor intelligence, is the foundational area of Product Marketing. By shaping product alignment with real-world needs, it ensures competitive advantage and strategic positioning. In my own career, leveraging focus groups for product positioning validation, 1:1 interviews for messaging testing, a combination of qualitative and quantitative research for informing ideal customer profiles (ICP) have been instrumental in achieving double-digit growth.

Other research tools used by product marketers include:

• Customer Advisory Boards: CABs cultivate customer relationships, providing a direct line to key customers, capturing their insights on needs, preferences, product roadmap, and industry trends.
• Voice of the Customer: VoC programs systematically collect, analyze, and interpret customer feedback from various touchpoints across the customer journey. They encompass customer opinions, preferences, expectations, and aversions to gain a holistic understanding of the customer's experience and needs.
• Win/Loss Analysis: By regularly analyzing won and lost sales opportunities you can understand the reasons behind the outcomes, evaluate what worked, what didn't, and why, uncovering insights into competitive positioning, customer preferences, and areas for improvement. TIP: Engage an unbiased neutral party for interviews, analyze both wins and losses, make findings actionable, and integrate insights into broader strategies.

These tools are essential for any forward-thinking product marketer, reflecting a commitment to staying attuned to the ever-evolving market landscape.

2. Messaging and Positioning. Storytelling as Competitive Differentiation.

Storytelling is a fundamental skill for every product marketer, especially in the crowded B2B SaaS marketplace, where storytelling differentiates a brand, creating a memorable identity and connection. It's about crafting a narrative that resonates, transcending mere facts to create emotional engagement. See Jon Miller 's post on Controlling the Narrative

Storytelling starts with developing effective and impactful messaging and positioning. The difference?

• Positioning?is an internal exercise that you complete as an organization or team. It helps you articulate the unique benefits of your brand, product, or service.
• Messaging?is external. It is how you translate the positioning into content to reach your customers.

What should be included in Messaging:

• Value proposition or tagline: Primary value statement or tagline used to describe the benefits of your brand or product.
• Messaging pillars: The most important themes you will communicate to set your brand or product apart.
• Proof points: Details and differentiators that bring credibility to the messaging pillars — such as technology, design, or customer service.
• Target audience: The?buyer personas?you serve.
• Use cases: Essential ways customers use your product to solve problems.

Adobe Marketo's Example of Messaging Pillars for High Growth Companies Renata Bell

See more Marketing Messaging Framework Templates [Free Downloads] | Aha! software

3. Pricing and Packaging.

Pricing and Packaging are two critical components that often determine the success of a B2B SaaS product. Pricing strategy defines the monetary value of the product. Packaging focuses on how products or features are bundled, defining what’s included at different price points.

While it’s often driven by Product Marketing, setting the pricing strategy typically involves buy-in and collaboration of multiple stakeholders – from executive leadership, marketing and sales, to finance, and operations.

Common B2B SaaS pricing models include:

In my career, I’ve worked with several people who specialize in pricing: Johnny Cheng led pricing and packaging exercise at Marketo, Andrew Cukurs helped with pricing revamp OneLogin by One Identity

This summer, I audited Strategic Pricing Management class at the University of California, Berkeley, Haas School of Business with Wasim Azhar , featuring case studies from Dropbox, Box, Netflix and Amazon, and great speakers including Tatiana Zhukovskaya , Dmitry Kovalev , and John P. . ?

If you want to learn more about pricing and packaging,?check out Tim Strickland 's webinars from Summit Partners: Actionable Pricing Strategies to Drive Growth (summitpartners.com) and Packaging: Strategically Position Your Product to Drive Growth (summitpartners.com)

4. Orchestrating Product Launches.????????

Product launches are pivotal moments in a product's lifecycle and involve introducing a new product or a significant update to the market, encompassing planning, execution, marketing, sales enablement, customer communication, and more. In my nearly 20-year career, I led the planning and execution of more than 50 product launches of various magnitudes.

It is important to define and align on a tiered approach to launches with key stakeholders, and the expected BOM that goes with each tier. ?Typical tiers are:

• Tier 1 (Major Launch): New products or significant updates, involving full organizational support.
• Tier 2 (Minor Launch): Smaller updates, requiring less intensive coordination.
• Tier 3 (Maintenance Launch): Regular updates, mainly handled by the product and support teams.

Here is an example from OneLogin Alexa Slinger

Should B2B SaaS companies focus on a big Tier 1 launch (lightning strike) or continuous feature releases? ?

In my experience, the decision between these two approaches is not binary. The best companies find a balance, executing major launches for significant updates while maintaining a continuous improvement cycle. This hybrid approach leverages the strengths of both strategies and can be tailored to the unique characteristics and goals of the product and market. Consider factors like your competitive landscape, customer needs, product maturity, and organizational capabilities to shape your approach. Being adaptable and responsive to market feedback is key, whether you choose a big bang or a continuous evolution strategy.

5. Sales Enablement.

Product Marketing plays a critical role in sales enablement by bridging the gap between the product's features and the customer's needs. Here are a few areas where PMM can help sales succeed:

• Understanding the Customer: translate Features into Benefits and help sales understand how the product solves real customer problems.
• Craft Targeted Messaging for different buyer personas and help sales tell a compelling story that resonates with prospects.
• Create Sales Collateral: tailored sales presentations, case studies, battlecards, and other sales materials.
• Training, Certifications, and Support: offer regular product training and be available to assist sales with customer-specific queries or challenges. Whiteboarding exercises and pitch certifications are also common.
• Feedback Loop: Understand what’s working and what’s not directly from the sales front line.

In my experience at Marketo, Uberflip | A PathFactory Company , Webgility , and OneLogin, I've seen firsthand how Product Marketing's role in sales enablement can significantly influence success. Building a close relationship with the sales team, understanding their challenges, and crafting tools and strategies that resonate with the customer's journey are key.

6. Working with Demand Teams.

Product Marketers play an essential role in supporting Demand Generation teams. Their collaboration is crucial for creating targeted marketing campaigns that resonate with potential and existing customers. Here's how PMMs support DG teams:

• Creating Buyer Personas: Develop detailed profiles of ideal customers to guide targeted marketing.
• Market Segmentation: Help identify the most valuable segments for tailored marketing efforts.
• Content Development: ensuring consistent and compelling messaging across all channels.
• Collaboration on Campaign Strategy: Work together to develop campaigns that resonate with the market.
• Analyst Relations Support: participating and driving analyst briefings, inquiries and major initiatives like Forrester Wave or Gartner Magic Quadrant.
• Supporting speaking engagements: speaking on webinars, live and virtual events, and podcasts.
• Performance Analysis and Optimization: Work closely to understand what's working and what needs adjustment.

In my time advising growth companies, I've often emphasized the synergy between PMMs and DG teams. This collaboration is not optional but a necessity in today's highly competitive B2B SaaS landscape.

Technology Landscape.

Technology can greatly enhance the efficiency and effectiveness of Product Marketers, but choosing the right tool can be overwhelming with so many available options.

Conclusion.

Product marketing expertise is not just a valuable asset but an essential core competency for any CMO. ?In my career, I had the privilege of learning from great CMOs who excelled at product marketing, including Jon Miller , Miles Kelly , Chandar Pattabhiram and many others. I also want to thank many Product Marketing colleagues who worked side by side with me: Mike Berger , Renata Bell , Sachin Kalra , Shyna Zhang , Michael G. and many others.

And for aspiring PMMs, check out Product Marketing Alliance that provides invaluable resources, frameworks, and community support.?