B2B Product Marketing Best Practices – 4 Key Principles to Keep in Mind

Today's post is an excerpt from The MFS B2B Product Marketing Guide.

Having delved into the key skills and responsibilities associated with product marketing, we will now share some best practices. Rather than general tips, we will focus on some guiding principles to lean on throughout a career in product marketing.

ACCESS THE MSF B2B PRODUCT MARKETING GUIDE HERE →

1 - Keep Your Knowledge Current

As a PMM, you are charged with being the link between the technical capabilities of the product and the more practical requirements of the customer. Doing so requires in-depth product, industry, and customer knowledge. It also requires a high level of communication skill and marketing skills to reach the customer with a message that resonates. Keeping your industry, competitor, product, and customer knowledge current is vital. If you fall behind on a trend or industry development, you risk alienating customers or even falling behind on key product requirements. There are a number of ways to ensure your knowledge stays up to date:

Follow All Relevant People and Topics on X - In addition to following industry thought leaders on X and other social sites, you can follow topics to keep abreast of the latest industry developments.
Set Up Alerts - Google Alerts and other tools like Talkwater Alerts will provide you with notifications any time there are industry developments you need to be aware of.
Study Industry Reports - Gartner, Forrester, and other research and advisory companies will publish regular industry reports which will delve into the latest industry developments including trends, market sizing, and leading companies.
Leverage Competitive Intelligence Platforms - There are competitive intelligence platforms that can be leveraged to ensure you do not miss any key industry or competitor developments. Again, take the time to set up all the relevant alerts you need to stay up to date.

The final point to make here is that industry knowledge is not a one off research task, maintaining it is something you will need to build into your day-to-day life. Instead of getting alerts throughout the day and distracting from other key tasks, it might be an idea to schedule 30 minutes or so each morning or evening to catch up on all the day’s developments.

2 - Develop Cross-Functional Relationships

As we have seen, relationship building is a key part of the PMM’s remit. An important part of the job is working with the different product stakeholders across product management, sales, marketing, customer success, and development teams. But, working with someone on a different team is not the same as building a relationship with them. In fact, if you are solely focused on working with someone without building a relationship, then the task might become progressively harder. There are some best practices to follow when it comes to building cross-functional relationships.

Tailor your use of language - each team will have their own concerns and their own way of viewing the world. Sales people are primarily concerned about making quota. Time, to them, is quite literally money. Product development teams might think in more technical terms, while marketing professionals will be focusing on ways to grow the pipeline. The onus is on the product marketer to tailor their communications in a way that is relevant to each of the various parties.
Embrace the water cooler - The oft-scorned water cooler moments do, in our experiences, actually have a lot of value for the PMM. Catching up with your colleagues for a few minutes in a slightly more informal setting like the watercooler or coffee station can help to build rapport and nurture important relationships. You may or may not be discussing anything product-related but that is secondary. The benefits of those casual chats are mainly that they can help both you and your colleagues grow more comfortable in each other’s company and, once the pressure of a product launch commences, a solid relationship will be important.
Introduce yourself to new team members - The fast-paced nature of the B2B world today means that incomings and goings will be part of the PMM’s life. Regardless of experience level or skillset, starting into a new role is challenging. As new team members join, the PMM should look to introduce themselves and kickstart a solid working relationship. Even something small like offering to meet the new employee for a coffee can mean a lot. Remember, you will be working with this person on a product launch where everyone has a vital role to play. Helping to smooth the new hire’s transition into their new role will benefit everybody in the long run.

3 - Think About the Big Picture Always

There are so many varying activities within the remit of the PMM that it is easy to lose sight of the big picture. Product success and, ultimately, revenue growth is the goal. There are many other metrics, data points, and activities within which the PMM could easily get mired in. Part of the PMM skillset is to maintain that strategic vision while balancing all those other actions and tasks that make up the greater product launch plan. Key here will be regular prioritization of tasks, declining low value meeting invitations, delegating where possible, and assessing each action item in terms of strategic impact.

4 - The PMMs Work is Never Done

While racing towards a product launch might seem like there is a finish line in sight, the reality for the PMM is that, in terms of their work, the race is not complete. Post-launch, a PMM will focus on a new set of activities including tracking KPIs, analyzing sales and marketing data, implementing feedback loops, writing case studies, implementing feedback loops, and building out customer referral programs. As a product matures, the PMM must also figure out how to adapt their competitive positioning be it defensive or offensive depending on the share gained within the market.

The PMM might in the future be assigned to new products as they are launched or, if their career progresses, end up in a position overseeing numerous products. In general, it is worth remembering that product marketing is a fast-paced and relentless field to work in. The rewards are plentiful, but it might be a good idea to schedule some holidays at times throughout the year to recharge the batteries for the next product launch. That being said, if you are part of a startup company that successfully launches your product, there is always the potential for acquisition which can bring sizable payouts to PMMs - who are so integral to the success or failure of a product and indeed a company.

This post is an excerpt from our recently released MFS B2B Product Marketing Guide. If you would like to read more you can access the guide in full here. If you have a marketing challenge you are looking for support with, you are welcome to set up a no obligation initial strategy consultation with our team.