Wednesday, March 2, 2016

[New Post] How to Build an Authentic Product Your Audience Will Value (and Buy)

 

Blogs

How to Build an Authentic Product Your Audience Will Value (and Buy)

Amanda Hicken

Authentic Product Marketing

Bringing a product to market takes a lot of work. However, when customers are exploring different options for purchase, it's not necessarily the product description or specifications you toiled over that will make or break their decision.

In narrowing down which company they're going to hand their money to, your audience goes through an authentication process. They research who you are, the solutions you offer, the values you represent, and the opinions that others share about you – and they do the same with your competitors.

With so many social, digital, and traditional media channels informing your audience’s research, product marketing that is disingenuous and uninspiring will fall flat.

Successful products come from being authentic, and authenticity comes from ingraining the following four qualities into your product development, deployment, and marketing.

Credible

When a brand is the originator of an idea, technology, or service in its market, they have the ability to define what it means to be that product's gold standard.

"There's only one iPod," says Tim Griffin, Vice President, Distribution and Multimedia at PR Newswire.

Having an idea isn't enough to establish credibility, though.

"Brands shouldn't put anything into their market that they can't authentically deliver on," he says.

When considering products you want to introduce to existing or new clients, make sure you have the expertise, experience, and context needed to follow through on their development.

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"For instance, as the newswire industry pioneer, PR Newswire is a credible expert in distribution,” explains Tim. “We not only have the knowledge and tools, but have also demonstrated decades of success and profitability. This track record extends our credibility to the different geographic markets we serve and other aspects of the PR and marketing industry.

"However, if we suddenly wanted to launch a service that has zero relation to our industry – say, a french fry business – our credibility and authenticity would be called into question."

Whether you're a well-known market leader or brand-new start up, establishing and maintaining your credibility is an essential aspect of authenticity.

If you're not your industry's architect, distinguish your brand by improving on what has come before, identifying what’s unique about your perspective, and sharing the depth and breadth of your knowledge through thought leadership content.

Attentive

"Your opinion and your brand's opinion do not matter," says Tim. "What matters are your client's opinions and market needs.

Identify a representative selection of decision-makers and users from your target audience, and then conduct surveys and interviews to identify gaps in your offerings.

“You have to actively reach out to your audience and ask them about the problems you can solve and KPIs you can help achieve,” he adds.

Likewise, talk to the departments that interact with customers on a daily basis to find out what is/isn't performing well and what roadblocks they're encountering.

Ultimately, your product palette must be aligned with customer needs. Don’t assume what they want. Pay attention to what they’re telling you.

Sincere

Of course, if your attentiveness is backed solely by selfish motives, you're not being authentic and won't fool customers.

A product will be successful if its creators are genuinely interested in helping their audience.

"Steer clear of reactionary product launches," cautions Tim. "You don't want to introduce something to the market that is unfulfilling and ill thought-out because your competitor has come out with something you don't have."

Your audience – be they customers, journalists, investors, etc. — should trust you when you say your product offers an improvement or something new of value. Caring only about profit and placing your audience second endangers your relationship, which will be reflected in your product’s success.

A brand that is sincerely interested in bringing a solution — not a product — to market will be attentive not only during product ideation, but throughout its development.

"Utilize beta programs and focus groups to identify and avoid pitfalls early on. Meet with clients and front line teams, show them what you're trying to do, and use their reactions to improve the product," says Tim. "Getting customer feedback before taking something to market enables you to succeed or fail fast."

Honest

When describing what your product does and doesn't do, you have to be honest and transparent; the feedback you receive during your product's beta program can help ensure your marketing accurately represents your offering.

"You can't pull a bait and switch," says Tim. "Your clients will call you out if you say you're sending something out, and don't."

Transparency goes beyond the product description, too. Consider providing clients with customized reporting that demonstrates whether or not their use of your product was beneficial.

While doing so may open you up to criticism if a product doesn't live up to expectations, transparent metrics make it easier to identify client wins and opportunities for product optimization.

Work with front-line staff to efficiently resolve issues and turn disappointed clients into brand advocates. And use customer feedback to stay ahead of your industry's evolution and adjust products and marketing as needed.

As you develop marketing content around your product, amplify the message further by sharing it not just on your social and owned channels, but also engaging with the media, influencers and third-party experts your audience trusts.

Download IGA Increases Visibility & Brand Awareness with Product Launch to see how Canada's largest group of independent grocers used multimedia to showcase their product's authenticity. The steps IGA took — and the results — will help you define a successful storytelling strategy for your next launch.

Author Amanda Hicken is PR Newswire's senior manager of strategic content and managing editor of Beyond PR. Follow her on Twitter @ADHicken for tweets about marketing, the media, Cleveland, and comic books.

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Tuesday, March 1, 2016

[New Post] Always Wear a Blazer and 5 More Lessons from MarketingSherpa 2016

 

Blogs

Always Wear a Blazer and 5 More Lessons from MarketingSherpa 2016

Annemaria Nicholson

MarketingSherpa 2016 Tips for Marketers

In marketing, just as in life, it's always good to be prepared with a basic strategy. The well-known phrase "80% of life is just showing up" is true, to a point – but it's that 20% you have to worry about if you want to succeed.

To achieve positive outcomes, marketers must carefully consider how they want their brand to be perceived, follow a customer-centric approach, and continuously look for new ways to stand out.

At this year’s MarketingSherpa Summit, marketers from around the world converged on Las Vegas to discuss strategies for marketing optimization, customer engagement and revenue generation.

One of the best lessons I learned, though, was actually from a networking session with colleagues.

"Always wear a blazer," commented Director of Channel Marketing Daniel Watson.

While Daniel was jokingly crediting his blazer for the good luck that followed him around Vegas, there’s something about blazers that also translates into a useful marketing metaphor.

As a fashion choice for both women and men, blazers can dress anything up while also being functional. They can differ in style, and a really high-quality jacket can set you apart in a crowd. In a number of ways, marketers and the content they create do the same for brands.

Throughout #Sherpa16’s different panels, my thoughts kept going back to the blazer and how it worked with many of the summit's takeaways.

Perception is key: In one session, "Subliminal: How your Unconscious Mind Rules Your Behavior," Dr. Leonard Mlodinow told attendees of a study where participants were given two glasses of wine. One had a ten dollar price tag, and the other had a ninety dollar price tag.

Naturally, participants rated the ninety dollar bottle of wine higher than the ten dollar bottle. But when researchers switched the price tags, participants gave the cheap wine a higher rating than the expensive one – all because they perceived that higher price point equated to increased quality.

Ask yourself: What is the customer perception of your brand? Are you wearing an ill-fitting and cheap blazer or something tailored and well-made?

Take a customer-centric look at your message and decide whether it’s telling a ten or ninety dollar story. If your business model is based on discounts and savings, a ten dollar story may work for you. However if your value proposition is quality, your message and presentation should match that increased price point.

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Put your best foot forward: With so much noise competing for your audience’s attention, your company’s content needs to make the best impression possible.

Just as you want to look your best in a professional setting, the same goes for your brand in its digital setting.

Conduct a gap analysis of business potential vs. performance, inventory your content against your customer lifecycle, and review your marketing’s quality to ensure you’re delivering a cohesive and compelling message. Offer up additional, relevant content and gently guide your audience along the funnel towards conversion.

Make your audience feel like they are in the hands of an expert storyteller; it will clarify and strengthen your brand's image, and they'll feel satisfied when they reach their destination.

Keep it clean: Brands need to prioritize data hygiene and maintenance if they want to connect with critical decision makers.

During his session "How PR Newswire Created an Innovative Demand Generation Engine That Increased Engaged Leads by Over 20%," Ken Wincko, PR Newswire’s Senior Vice President of Marketing, asked the audience about their marketing database: "How often are you cleaning your list? How many of those leads are key decision makers?"

Spring cleaning is important – whether that means cleaning out old blazers from your wardrobe or reviewing your marketing database and removing duplicate and unusable contacts.

"The impact of data hygiene maintenance on your house lists is critical," Ken continued. "Reach the key decision makers and influencers that your brand needs by augmenting your marketing database with a third-party provider."

Clean data will provide you with an accurate representation of the customer base you're serving and help you identify which leads are qualified and more likely to continue through the funnel.

Take risks: When your marketing is backed by thorough and clean analytics, it's also easier to be adventurous.

Just as you might dress up your blazer with a funky necklace or tie to distinguish yourself, think of new ways you can market your company's products and programs, and A/B test to seek improvements.

As long as your content and messaging are authentic to your brand, trying something new can reap many benefits. Even if results aren't what you hoped for, you will have learned something about your brand and your customers.

Make the blazer a habit: New York Times best-selling author Charles Duhigg, who wrote "The Power of Habit," told the story of the invention of Proctor and Gamble's Febreeze product.

The revolutionary science behind the product was the first of its kind to truly capture and eliminate odors.

However, as Duhigg explained during his session, the product’s initial promotion didn’t connect with customers. The company realized that rather than marketing the invention of cool new features, they should instead focus on how customers can tie this new product into their daily cleaning routines.

Duhigg's example offers powerful insight for marketers. Go back to your audience analytics and look at your prospective customers and their routines. Don't look at your brand's offerings as products, view them as solutions and consider how they serve your customers' day-to-day needs.

Then, get into the habit of creating and publishing messaging across the different channels your customers use. Repeatedly show, don't tell, what's in it for the customer and how your solutions fit their routine.

Over time, you will become an integral part of your customer's life.

The blazer works similarly; put one on every day, and you'll build an image of respectability, credibility and authority with those around you. Back it up by being helpful and reliable, and you have a formula for real success.

In the end, effective marketing is about providing an excellent customer experience and experimenting with new strategies in an attempt to improve performance and outcomes.

For instance, integrating your PR strategy more fully into your marketing program will not just help earn more media coverage, but also drive sales and attract potential funding sources.

You might only have one chance to make a good impression with a prospect or customer. Make it count. Download our white paper Best Practices for Growth: Aligning PR Programs to Corporate Strategy and learn how to use PR to achieve your business goals.

Author Annemaria Nicholson is a solutions & customer lifecycle marketing manager at PR Newswire. In addition to designing integrated marketing programs for PR Newswire and CNW, she's responsible for promoting the companies' content and multimedia distribution, reporting, and e-commerce solutions. You can contact her via LinkedIn.

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