Several companies that I work with have great product ideas, but what they miss is great ideas for its commercialization. Here are a few things that you can start up with and you can always take professional help at the right stages. Here are some marketing tips for Software Product Companies.
1. Understand the current GTM (Go to market) strategies that you have defined and document each one of them
2. Do competitive research on ‘like’ competitors and on ‘direct’ competitors. You will be surprised at how much information you will be able to generate from this step. It is always good to learn, even if it is from your competitors
3. Based on the above 2, define the product STP (Segmentation, Targeting, Positioning) down to the lowest level of detail, so that you can define an action and activity plan.
4. Give feedback to your product management team based on responses from your beta customers.
5. Finalize collateral sets, that will be required to engage with your target audience. Make it relevant for your defined target market.
6. Finalize commercial and engagement mechanisms. In operations, how is the sale going to happen and based on what pricing models
7. Finalize promotions plan, work on revenue and cost budgets How do you create the best marketing plan
8. Formalize sales review mechanisms and prepare for objection handling.
Finally do remember that marketing is about consistency and not individual brilliance. hope this Marketing tips for Software Product Companies was helpful
Atul is Founder & CEO at Xenia Consulting. He has over 22 years of experience in marketing, across corporates as well as SME,start-ups. Over the last 5 years, he has gained significant expertise and has helped several companies drive growth leveraging digital marketing