How to market a product in 2024: Guide for Product Marketers

Marketing a product in 2024 is quite different from what it was in 2014, and almost unrecognizable from 2004. Social trends and technological advancements play a big role in how people shop and what values they look for in brands. Therefore, in order to market a product in 2024 you need to be aware of the ongoing trends and how they relate to your brand. With that in mind, we will use this article to highlight these trends and give you an idea of how to best tackle product marketing.

Before you try to market a product in 2024

Modern product marketing is all about recommending the right product, to the right person at the right time. While this may seem like an approach that would always work, in practice it wasn't always so. For a long while, product marketing was all about making a better offer than your competition. Then it was about showing that your products are eco-friendly and that you are a compassionate brand. For a while, the crux of product marketing was what celebrity will endorse the product, and say that it is their choice.

While we can still find fragments of these trends, the predominant trend in modern marketing is personalization in various forms. So, let's see what aspects it entails.

Customer-centric approach

The customer-centric approach to product marketing relies on you having in-depth knowledge about your customer base. This includes general demographic info (like age, gender, location, etc.) as well as their online data like buying preferences and online habits. Some of this is third-party data that you can purchase, but a big part will be first-party data that you have to gather on your own.

Fortunately, while data management can be arduous, it can be used for different things. From customer management to marketing campaigns, customer data will be an invaluable resource on which you will make important decisions. In the case of product marketing, customer data will tell you what products to market and how to properly market them.

Picking the product

If you are a one-product company, you need not worry about picking the right product to market. After all, while being a one-product store has some benefits, you can't pick which products to market. But, if you are smart about running a data-based business, you might want to alter your product based on customer data. More often than not, you can look to change the shape, the color, or even the packaging of your product to surprising success. Seeming minute changes can resonate quite heavily with a target audience, and double your sales before you know it. Similarly, you can look to change the payment and shipping options to better cater to your target audience.

Digital presence

When it comes to product marketing, it is important to note that building a brand presence is a must. Whatever product you wish to market, the process of marketing will only be effective if you have a digital presence to call upon.  This includes a well-designed website, active social media presence, and possibly mobile apps depending on the product.

The reasons for this are manyfold. Firstly, by having a set-up digital presence, you will be able to tackle the influx of customers that a successful marketing campaign will bring. Secondly, only through a set-up digital presence will you be able to actually learn what your customers are like. You can, and should, directly ask for customer data from time to time. But you also need to gather behavioral data and follow which trends best resonate with your audience. All of that is only possible if you work and maintain a decent digital presence.

A great example of this is Stanley Cups where the company managed to take a single instance of UGC to build, what is now considered a worldwide phenomenon. For an untrained eye, it might seem that Stanely Cups' popularity grew overnight. The truth is that the only reason why Stanely Cups saw such tremendous success from a single video is because they've had years of experience in marketing management and customer relations. Without those, their viral video would simply shine and pass, like most viral videos do.

Content marketing

Another important thing to consider about modern marketing is that you need to provide something of value. Educating, entertaining, or solving problems for your audience is key. By doing so you not only establish your brand as a part of a larger community but also build your brand authority. The idea is that, through content marketing, you show that you understand the plights that your customers face and that you are more than willing to help them out. You will also find that it is much easier to market your product if you outline all the instances where it will solve problems and make lives better.

If all of your marketing is simply pushing your product onto your customers, you likely won't see much success. After all, we are all bombarded with marketing content anytime we go online. As such, it is quite common for people to install ad-blockers or to actively ignore any instance of straightforward marketing content. This is why you need to add some non-sales content that your customers will actually find interesting. Once you gain their interest, and more importantly their trust, product recommendations will come naturally.

Multi-channel approach

Keep in mind that consumers interact with brands across various channels (social media, email, search engines, etc.). A successful marketing strategy ought to integrate these channels cohesively for maximum reach and impact. Unfortunately, it can be difficult to determine which channels you should focus more on, and which less. Here is another example where having in-depth customer knowledge comes in handy.

Different demographics tend to prioritize different platforms. For instance, while Gen Z prefers TikTok, Millenials are more likely to reach out on Facebook. These customer trends give you a clearer idea of where you invest your resources if you wish to reach a target demographic. Trying to focus on every channel will spread your resources too thinly and you won't be able to properly track their performance. Meanwhile, if you only use a single channel, you will likely appear unprofessional and not dedicated. So, you need to have a multi-channel approach where you will primarily focus on the channel that has the biggest target audience reach.

Relationship building

With most products, the best course of action is to build a lasting relationship with your target audience. Doing so is not only cheaper than having to constantly find new customers, but it is also more beneficial for customer data and overall marketing. But, know that this involves ongoing communication, customer support, and loyalty programs. You tackle this through the channels we've previously mentioned, but also through your product marketing. Know that customers will keep a close eye on whether you listen to their feedback and whether you implement the changes that reflect their concerns. This shouldn't only be done with posts, but also with changes to products. This ties back to the first chapter where we've explained that changing your product to better fit customer needs is a must for any growing brand. The more you can alter your business practice to cater to customers, the better.

Ethical considerations

If customers are anything in 2024, it's ethically conscious. Issues such as sustainability, transparency, and social responsibility are quite present in daily discourse. And if your product has a natural connection to any of these issues, you better address them properly. Ideally, you will align your brand with ethical practices that can enhance reputation and customer loyalty. You do this by explaining that you understand and value these issues. But, more importantly, you show your commitment to them with your products.

Agility and adaptability

Lastly, it is important to note that the marketing landscape evolves rapidly. As we stated at first, technological advancements and changing consumer behaviors all play a role in what customers want. This is why marketers need to be agile, and ready to adapt strategies based on real-time data and market trends.

Examples

What we've outlined so far holds true, but might seem a bit vague for a person trying to make actual changes to their product marketing. The reason for this is that product marketing isn't a one-for-all issue. Different products require different marketing strategies. And even the same product may require a different strategy for a different target audience. So, to help give you a clearer idea, we will illustrate a couple of examples to learn from.

Hiking shoes for Millenials

Seeing that a lot of them work indoors, Millenials are quite happy to go hiking. Therefore, if you were to sell hiking shoes to Millenias, you are likely to see success. Unlike Gen Z, millennials prefer informative marketing. This means that you not only need to present your product in an interesting way but also provide valuable information. You can outline the quality of the hiking shoe by highlighting the materials used and what their benefits are. You can also outline how long the shoes last and how satisfied your other customers are. Know that millennials will do their due diligence before purchasing a product. So, it is in your interest to provide reviews that honestly say how good your product is.

Alongside this, we would advise that you put out content that revolves around hiking tips. If you know the general location of your target audience, you can focus on it and outline different trails and best seasons for camping. You can also look to collaborate with local hiking groups and have them review your products. The more you can show yourself as a part of a hiking community, that just happens to sell hiking shoes, the better.

Hearing aid for the elderly

With elderly people, you want to keep things short and sweet. Know that they are likely going to view your content while passively scrolling online, so don't expect to have their full attention. Instead, shorten your content and present it in a visually rich format. Keep in mind that the elderly like being thrifty. So, you should always look to have your product as a part of a seasonal offer, a loyalty discount, or a part of a group deal.

In your content, you should highlight the benefits that your product will bring and the problems it will solve. Your hearing aid will feel much more alluring if you show it helping the elderly connect with their family and friends. Don't bother too much about performance and quality (as you would with millennials) but focus more on emotional storytelling. Marketing storytelling overall works terrific with the elderly as they are quite receptive to the story format.

Lastly, make sure that the purchasing process is as easy and straightforward as possible. This should be the case for every customer base, but it is especially true for the elderly. Know that most of them aren't tech-savvy and that you have to have a competent customer management team to help them out.

Beauty product for Gen Z

Like Millenials, Gen Z also likes quality products and informative content. But, unlike Millenials, they tend to put entertainment over informativeness. So, if you are trying to market a beauty product to Gen Z, don't get bogged down with technicalities and cost-to-quality benefits. Instead, look for a way to entertain your audience. In essence, your marketing doesn't have to have anything to do with beauty products, as long as it is entertaining. If your content goes viral, you are bound to garner decent attention from Gen Z. So, to hit the mark, try to focus on ongoing social media trends, and how your brand can fit into them.

Once you've found some attention from Gen Z, you ought to look for a notable content creator to review your brand. Know that Gen Z has grown up surrounded by marketing content. Therefore, they are unlikely to view your straightforward product marketing, even if it addresses their needs. Some beauty-related content can be effective. But a safer option is to simply look for a reputable content creator to represent you. You'll see firsthand how effective a single word of praise can be.

Final thoughts

By now, you should have a fairly good idea of how to market a product in 2024. Know that whatever course you take, will require a fair bit of experimentation. This is why we advise that you set up some KPIs and track them with due care. The one thing to remember is that product marketing inevitably requires time. It will take a couple of months for you to learn enough about your customers and how to reach them. But, as long as you keep at it, you will find an effective approach.

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