Product management is something every company needs but few can afford until they are beyond a certain size – say, $2 million in revenue. Even then, it is often an afterthought, because so few people understand how essential it is.
Product management is a must if you sell a product, but even service companies need what a good product manager can provide.
One way to think of product management: marketing should start with the customer and create campaigns that sell the way customers want to buy. Product marketing starts with the product and makes sure that it is properly positioned, priced, and promoted, based on what customers want. Product marketing provides marketing with the product information required to answer customer questions and make it easy for them to make a purchase. A good product marketer will identify and document:
- Everything about the product, including its characteristics, functions, and how it is most popularly used
- What makes it superior
- Who would want it, why they’d want it, and what they would do with it
- What has worked, and not worked, in the positioning and marketing of the product
- Who the competitors are and everything about their products (including 1 through 4, above)
- Pricing strategies
- How best to introduce the product to the market, considering all of the above
- How to adjust to new threats and opportunities that arise
- Product roadmaps and lifecycle planning
Because we tend to work with mid-sized companies, who don’t have a product manager on staff, we offer this service. Our clients benefit from the research, analysis, and expertise that only a seasoned product manager can bring, but pay a fraction of what they’d pay for a full-time person. It’s a pretty good deal, and very satisfying for everyone involved.
Would you like to discuss your current challenges?