“Product marketing is sensible, solution marketing divine.”
I’m a new triathlete, and bought the Garmin 735XT watch to help me train. On its own, this product is fantastic. It has a whole host of features and benefits that support the needs of any new triathlete—capturing distance, pace, cadence, laps, etc. These product features have appeal, but when they are combined with accessories like heart rate monitor straps and apps like Strava and Myfitness pal, the additional data makes it an invaluable training solution – one well worth the hefty price tag.
What’s more, by marketing the solution in a way that appeals to my desire to improve my performance over time (always shooting for a PR!), there’s no way I’m leaving without it in my shopping cart. The product features are impressive, but the emotional benefit is what drives my purchase, my loyalty, and ultimately, my advocacy.
Here are five differences between solution and product marketing:
- Solution marketing is value-based, product marketing is cost-based.
- Solution marketing can connect to more complex and deeper emotional value in terms of the customer’s pains or desires, product marketing tends to focus on features and benefits.
- Solution marketing requires a broader knowledge of the audience mindset and behavior in order to create desire among customer segments. Product marketing features the innovation and technology.
- Solution marketing makes it easy for customers to add more parts, products are distinct purchase events.
- Solution marketing can require additional organizational support in order to shine as a more fulfilling, customer-centric experience, product marketing does not.
We buy products, but we love experiences. We’re all itching for solutions that will add value to our lives – not just more stuff!
Technology is rapidly transforming the healthcare industry – so how do medical device marketers keep up?