Product Marketing Management
Product marketing management entails full responsibility for a product. It includes owning the product roadmap and strategy, conveying the roadmap to the development team. This responsibility of ensuring the development of a product is for the Product Marketing Manager to take.
What does a Product Marketing Manager do?
The Product marketing manager collaborates with creative departments and engineers to build a product from initial concept to final commercialization. They are involved in all aspects of market analysis, branding, pricing, strategy, and branding.
The Product marketing manager is capable of wearing many hats or taking on roles in various industries. Some industries will need assistance to lead the development of a product’s branding in messaging creation. For other products, it is the product marketing manager’s task to ensure the product reaches the company’s profitability targets. For other industries, the product marketing manager may be responsible for pitching retailers about placement, shelf space, and presence.
Product Marketing Models
Most companies harness two different models of product marketing. The first model has the product marketer as a subcontractor who turns into an expert in understanding the customer and communicates a differentiated value to the correct customer. The product marketer gives support to the product manager in selecting where to place the product based on customer data strategically.
In the second model, the product marketer communicates actively with the customer but does not actively participate in forming the product strategy. With both models, product marketers deal with a variety of people daily, from customers to engineers to data scientists.
Once product marketers collect data on customer behavior, they work with the production management team to share these data and strategize priorities on how to meet customer needs.
Product Marketing vs. Product Management
Here are the three significant factors product marketing and product management have in common:
1.The customer is the primary actor. The best products cater to the needs of the customer
2.Their roles are limitless; they can wear a variety of hats because of their responsibilities.
3. Product marketers and product managers are integral to the success of marketing and sales efforts.
The product marketing manager’s task is to help define and create a new product — from formulation to the product getting to shelves (or digital storefronts). They oversee products through the whole development process, giving designers and engineers guidance daily on tasks. Product marketing managers define what product offers and convey critical data to internal and external stakeholders.
A product marketer is responsible for bringing the product to the market. They both focus on marketing to customers. The product marketer’s responsibility is to ensure that the company has a full understanding of customer needs and builds products to cater to those needs.
The product marketing manager is responsible for the product’s failure or success in the market.
Why the Roles are Separate
Combining the roles of Product Manager and Product Marketing Manager is not recommended because each role demands a heavy workload, including the following:
Formulating product pricing structures and strategies
Gathering all market data
Working on detailed buyer/user/customer personas
Managing and developing a product roadmap
Handling and managing product backlog
Making win/loss analyses
Making interpretations of gathered data
Performing competitive research
Synthesizing all external and internal stakeholder input on priorities and features
Analyzing customer surveys and responses
Overseeing the creation of content marketing and sales tools
Product Marketing Management Responsibilities
The product marketing manager’s primary responsibility is to create a product that is a solution to a customer problem. These responsibilities involve identifying your customer demographics, discovering the root of their problem, and deciding solutions around it.
The responsibilities in understanding the customer are where product management and product marketing overlap. Both work on conducting market sizing, analysis research, and ethnographic research on their customers. Deciding on what product to build and how to build it commonly falls on product management.
Product marketing management involves brainstorming various ways to solve a problem in the most optimal manner. This task may entail making a trade-off on a product that is faster, more efficient, or assessing market risk and determine how to mitigate risks.
Product Marketing Management Skills
Difficulties and Decisions
Product marketing managers are bound to encounter various difficulties and need to make significant final decisions. They are bound to make sacrifices and figure out ways around hindrances. To solve hard tasks, decision-making skills and problem-solving are essential for any product marketing manager.
Collaborating across Disciplines
They must collaborate across a variety of teams to efficiently introduce a product to the market. Collaborating with several groups can be challenging, especially with communication. An efficient marketing manager is capable of ensuring true collaboration to deliver the best product.
Marketing & Connection
Empathy with Users
Empathy is a significant skill not just in customer service roles, but also when you are working on a product to release to the public, like a landing page or an app.They have a good understanding of the customers, their interests, sensitivities, and needs- it allows them to decide correctly and lead their team in the correct direction.
Research & Analytics
Observe and Interpret
Real-life sessions are the most efficient way to connect with customers and observe how they react and use a product. These reactions are not the easiest to sort and determine. That is why the product marketing manager needs to familiarize themselves with analytics and research tools. The real skill is how the manager would interpret data and how to use gathered data to advance product decisions.
Essential Behavior in Product Marketing Managers
For product marketing managers to succeed in their role, they should be able to:
Take time to listen to customers and empathize with their perspective problems
Conduct research and pieces together collected data to understand the market and customers
Stick through the main objective instead of using assumptions in finding solutions
Harness business acumen to arrive at analytical decisions about risks and trade-offs
Guide cross-functional teams to a goal and assist them in overcoming potential risks and issues that may arise.