Brand strategy for your company always comes before marketing strategy for a product, but did you know marketing strategy should actually be part of your product creation process? When you don’t put your marketing strategy first, you risk creating a product you don’t enjoy marketing, experiencing a chaotic launch or even investing in a product that ultimately doesn’t support your overall brand goals.
Connecting with Your Ideal Customer
Your goal is to create a product you like for customers you want to work with. Part of identifying the product you want to create is figuring out how you want to market. For example, if you don’t have the budget for national commercials, you probably shouldn’t pursue a product that requires marketing at that level. Or, if your target audience would expect to receive information about your chosen product through huge sell-from-stage events but that format doesn’t appeal to you, you may need to head back to the drawing board. Integrating marketing strategy into your product creation process is one more chance to match your interests against the needs of your ideal customer.
Avoiding Launch Chaos
Putting a marketing strategy in place early also ensures you won’t make impulsive decisions during the throes of a hectic product launch. Although happy accidents can be a creative windfall during the build-up phase, once your strategy is in place, nothing should be left to chance. Not having a marketing strategy in place may mean missed opportunities (“if only we’d thought of that sooner!”) or being forced into a marketing strategy you ultimately won’t enjoy.
Using Marketing Strategy to Stay on Point
When you built your company, you set goals and defined your business purpose. You decided what was important, and you chose how you wanted to present yourself. Whether you’re creating your first product or your thirtieth, you can easily lose sight of your business purpose when you don’t create a marketing strategy first. Many companies who’ve made the mistake of branching into a product area that didn’t fit their brand could have avoided the error if they’d planned a little bit first.
When your marketing strategy is in place from product design, your launch and sales will run more smoothly and successfully. And, if an unplanned opportunity to market your product does present itself, you’ll be well-positioned to respond appropriately!
Need more information on product creation? Contact the team at C3!