[Cheat Sheet] Product for Marketers

Do you feel like your Product partners are running off building random products and only coming to you when they’re ready for you to ‘sell’ the product? The “Product for Marketers” cheat sheet will help you frame your marketing impact in a way that Product teams can understand and appreciate.

Introduction to the Cheat Sheet series

As a marketer, we spend a lot of our time thinking about the customer, the psychology, and the creativity of the campaigns, activations, and initiatives we produce. We’re like artists painting a Picasso or musicians scoring a Mozart. Sometimes, in the midst of our artistry, we forget the science of marketing. We forget to ask ourselves the burning questions that our partners (e.g. Finance, Product, Tech, etc.) like to know:

Why is marketing important? How do you know it’s working? Why should we care?

We used to be able to say “we trust our gut” or “it’s standard” but those days are gone. Now, we need data to support and validate our intuition.

As part of this Cheat Sheet series, we will breakdown some of the most important parts of our partner teams’ jobs and goals so marketers will have a better way of communicating our impact to them as well as be better business partners.

flat lay photography of several product bottles on withered leaves

Product
for Marketers

Role of Product

Product team’s remit is to ensure that the company’s products or services are high-quality, competitive, and aligned with customer needs and market trend [1]. This may include conducting market research to identify customer needs and preferences, developing new products or product enhancements, and overseeing the production and distribution of products. Product teams may also be responsible for pricing, packaging, and branding, as well as managing the product lifecycle from development to launch to retirement. In addition, product teams may work closely with other teams such as marketing, sales, and customer service to ensure that products are promoted and supported effectively.

[1] Though the majority of the article is written through the lens of a business, this cheat sheet holds true for non-profit or for-profit organizations.

What does this mean for Marketers?

Marketers and product teams have a unique and important relationship in the world of business. Both teams are responsible for promoting and selling the company’s products or services, but they approach their tasks in different ways. As a result, it is essential for marketers to understand the role of product teams and how they can work together effectively.

Get a seat at the Product ideation ‘table’. Marketers can provide valuable insights on customer needs and preferences, which can help product teams identify opportunities for new products or product enhancements. In turn, product teams can provide information on the technical capabilities and limitations of products, which can help marketers tailor their messaging and positioning to be more effective. By working together, both teams can ensure that the company’s products are aligned with customer needs and market trends.
Develop pricing and positioning together. Marketers can provide valuable insights on customer perceptions and preferences, which can help product teams determine the most effective pricing and positioning strategies for their products. In turn, product teams can provide information on the costs and margins associated with products, which can help marketers develop pricing and positioning strategies that are realistic and profitable. By working together, both teams can ensure that the company’s products are competitive and attractive to customers.
Align on shared goals. The marketing team may be focused on promoting a new product, while the product team may be focused on developing a new product. In these situations, it is important for both teams to communicate and find a way to align their goals and priorities.
Share information and resources. For example, the product team may need access to marketing materials such as product images and videos, while the marketing team may need access to product specifications and features. By sharing information and resources, both teams can work more efficiently and effectively.

Vocabulary

Agile – a project management approach that emphasizes flexibility and rapid response to change
Beta – a version of a product or service that is still in testing and not yet fully released to the public
Feature – a specific aspect or capability of a product or service
Iteration – a single cycle of development in an agile process, during which a specific set of features is developed and tested
MVP (Minimum Viable Product) – a product with the minimum set of features necessary to begin testing and gathering feedback
Prototype – a preliminary model of a product or service used for testing and development
Roadmap – a plan for the development and release of a product or service
Scrum – a framework for agile project management
Sprint – a set period of time in an agile process during which a specific set of tasks or features are completed
User story – a description of a desired feature or capability from the perspective of the end user

Key phrases to say to Product teams

“X customers are using Y products/features at Z frequency.”
“What are the key features and benefits of our products?”
“How can we align our marketing strategies with the product roadmap?”
“What customer insights can we use to inform our product development and positioning?”
“How can we collaborate on pricing and packaging strategies?”
“What metrics and performance data can we use to measure the success of our product and marketing efforts?”