Growth Product Marketing is the bridge between the potential of your product and the realization of its true impact on your customers' lives.
For those who are relatively new to product marketing, one question that may arise is what is the difference between Product Marketing and Growth Product Marketing? While many of the principles of both disciplines overlap, some crucial differences distinguish them as separate entities.
Product marketing is the marketing function responsible for the end-to-end marketing of the product. It encompasses pre-launch activities such as positioning, pricing, branding, and launch strategy; post-launch activities like promotions, trade shows, and sales support; ongoing innovation through research & development (R&D); long term brand development; customer service/support; channel management along with various other tasks related to building a sustainable company by creating value for customers over time.
Product marketing is concerned with driving conversions.
Product marketing is a role that's concerned with driving conversions, and it's a job that requires you to take the lead on measuring specific actions and goals and then reaching those goals through your product. Conversions are the most crucial metric for product marketers because they allow us to see how well our strategies work in real-time.
Conversions are determined by how many people take a specific action within your platform or app. It could be anything from signing up for an account on your website, downloading an app in the App Store, or even buying something from your mobile marketplace.
Product Marketing operates under the assumption that a good product will sell itself.
Growth product marketing is an extension of PMM, focused on growing your user base.
When you're a small or mid-sized company with limited resources, you have to pick and choose how you spend your time. So what are the best ways to grow your user base?
- Get new users to try your product by providing value upfront (e.g., a free trial). If they like the experience and value it gives them, they'll come back for more and eventually become customers.
- Get existing users to use your product more often and in more places by improving its ease of use (e.g., making onboarding easier), increasing its utility through additional features (e.g., adding new functionality), or making it more enticing with discounts or promotions (e.g., loyalty rewards program).
Growth PMM targets new customers as well as current customers to drive growth.
Growth Product Marketing (GPM) is the process of acquiring new customers, getting existing customers to use your product more, and making sure these users continue to buy more from you. The GPM process is a combination of Growth Marketing (which focuses on driving awareness and interest) and Product Management (which focuses on building great products).
Growth PMMs work with their cross-functional teams to identify growth opportunities that will impact the business most. They then prioritize these opportunities based on factors like potential return on investment, feasibility, risk/reward profile, etc. Once priorities have been set for each opportunity, growth PMMs define what success looks like for each one—so that everyone knows what needs to be achieved or improved upon before moving on to another initiative or campaign next time around.
It's about developing a strategy for growing your audience with the help of your product.
You might think that product marketing is about promoting your products. Sure, there are times when this is true. But if you look at product marketing from a more strategic perspective, it's all about developing a strategy for growing your audience with the help of your product.
That means that it's also about identifying and targeting new users who would really benefit from using your app or service in their lives. It also involves finding ways to grow those users into repeat customers who keep coming back for more over time until they become brand advocates sharing their experience with others via word-of-mouth marketing.
You should be investing in both PMM and growth PMM if you want sustainable growth.
The only sustainable way to grow your business is by making sure that you build a product that people want to buy and get people to buy it.
This means investing in both product marketing (PMM) and growth product marketing (Growth PMM) for many businesses. It can seem counter-intuitive—if you focus on getting more users, won't you be able to make more sales? But building a product that people really enjoy using is just as important as having a large number of users who will pay for it. You need both PMM and Growth PMM to achieve sustainable growth.
Growth PMM helps you grow and retain your users, while Product Marketing can help you build better products.
While the titles of these two roles can be easily confused, they are a bit different. Growth Product Marketing is about building better products for your existing users. It's about driving conversions and building a better user experience.
Product Marketing, on the other hand, is an umbrella function that's all about acquiring new users or growing your user base through various acquisition channels.
Remember: PMM and GPMM are more like cousins than enemies while they may be different animals. If you can strike a healthy balance between them, then both will contribute to your company's success.
What is Product Marketing?
Product Marketing is the comprehensive marketing function responsible for the end-to-end marketing of a product. This includes a range of activities, such as pre-launch activities like product positioning, pricing, and branding, as well as creating an effective launch strategy. Product Marketing also covers post-launch activities like promotions, trade shows, and sales support, and manages ongoing innovation through research & development (R&D). It is also responsible for long-term brand development, customer service/support, and channel management. The primary goal of Product Marketing is to create value for customers over time by building a sustainable company that can effectively meet customer needs and expectations.
What is Growth Product Marketing?
Growth Product Marketing is an extension of Product Marketing, with a primary focus on acquiring new customers, increasing product usage among existing customers, and ensuring users continue to buy more from the company. Growth Product Marketing combines elements of Growth Marketing, which focuses on driving awareness and interest, and Product Management, which emphasizes building great products. Growth Product Marketers often work closely with cross-functional teams to identify and prioritize growth opportunities that will have the most significant impact on the business, and they establish success criteria for each opportunity to ensure alignment across the organization.
What are the main differences between Product Marketing and Growth Product Marketing?
While both disciplines share some overlap, there are key differences between Product Marketing and Growth Product Marketing. Product Marketing is primarily concerned with driving conversions, building a better user experience, and acquiring new users through various acquisition channels. On the other hand, Growth Product Marketing focuses on growing and retaining users by targeting new customers and optimizing the product to increase its utility and value to the user. In essence, Product Marketing is more concerned with the initial acquisition and onboarding of new users, while Growth Product Marketing concentrates on retaining and growing the user base over time.
What are the goals of Product Marketing?
Product Marketing aims to create value for customers over time by building a sustainable company that can effectively meet customer needs and expectations. To achieve this, Product Marketing focuses on various tasks such as positioning, pricing, branding, and launch strategy, as well as post-launch activities like promotions, trade shows, and sales support. Additionally, Product Marketing is responsible for managing ongoing innovation through R&D, long-term brand development, customer service/support, and channel management. The overarching goal is to ensure that the product remains competitive, relevant, and valuable to customers, ultimately driving conversions and long-term success.
What are the goals of Growth Product Marketing?
Growth Product Marketing seeks to grow the user base by acquiring new customers, increasing product usage among existing customers, and retaining users through various strategies. These strategies include providing value upfront (e.g., offering a free trial), improving ease of use (e.g., streamlining onboarding), increasing the product's utility through additional features (e.g., adding new functionality), or making it more enticing with discounts or promotions (e.g., launching a loyalty rewards program). By focusing on these goals, Growth Product Marketing aims to create a loyal and engaged user base that contributes to the company's long-term success.
Should my business invest in both Product Marketing and Growth Product Marketing?
Yes, investing in both Product Marketing and Growth Product Marketing is crucial for achieving sustainable growth. While it may seem counter-intuitive, building a product that people enjoy using is just as important as having a large number of users who will pay for it. By focusing on both disciplines, you can ensure that your product remains relevant, valuable, and appealing to customers, while also growing your user base through targeted acquisition and retention efforts. This balanced approach will help your business achieve long-term success and profitability.
How do Product Marketing and Growth Product Marketing work together?
Product Marketing and Growth Product Marketing are complementary functions that, when effectively integrated, can drive a company's success. While Product Marketing focuses on acquiring new users and building a better user experience, Growth Product Marketing emphasizes growing and retaining users by optimizing the product and targeting new customers. By working together, these functions can ensure that the product remains competitive, relevant, and valuable to customers, while also expanding the user base and promoting customer loyalty. A healthy balance between Product Marketing and Growth Product Marketing will contribute to sustainable growth and long-term success for your company.
What are the key metrics for Product Marketing?
Conversions are the most critical metric for Product Marketing, as they help determine the effectiveness of strategies in real time. Conversions can be actions such as signing up for an account, downloading an app, or making a purchase. By tracking these conversions, Product Marketing teams can identify which tactics are working well and which ones may need improvement. Other important metrics for Product Marketing include customer acquisition cost (CAC), customer lifetime value (CLTV), and return on investment (ROI). These metrics provide insights into the overall performance of product marketing strategies and help guide future decisions to optimize marketing efforts.
How do Growth Product Marketing teams prioritize growth opportunities?
Growth Product Marketing teams begin by identifying growth opportunities that will have the most significant impact on the business. They then prioritize these opportunities based on factors such as potential return on investment, feasibility, and risk/reward profile. This prioritization process ensures that the most promising opportunities are tackled first, maximizing the chances of success. Once priorities have been set for each opportunity, Growth Product Marketing teams define success criteria for each one—so that everyone knows what needs to be achieved or improved upon before moving on to another initiative or campaign next time around. By following this structured approach, Growth Product Marketing teams can effectively drive sustainable growth for the business.
Can Product Marketing and Growth Product Marketing roles be combined in a single position?
While it is possible to combine Product Marketing and Growth Product Marketing roles into a single position, it's essential to maintain a clear distinction between the responsibilities and goals of each function. Combining the roles may lead to a lack of focus on either acquisition or retention efforts, potentially undermining the company's overall growth strategy. Instead, it is generally more effective to have dedicated roles for Product Marketing and Growth Product Marketing, with each function working together to achieve a balanced approach to user acquisition, retention, and product optimization. This ensures that both disciplines can effectively contribute to the company's success and long-term growth.