AMA: Payrix VP of Product Marketing, Charlene Wang on Competitive Market Research

Across multiple product marketing organizations, I’ve used a combination of competitive intelligence tools, win/loss interview and analysis tools, tools to collect expert interviews, industry analysts, and industry news sources. To me, these are the key tools for market research for Product Marketers: Competitive intelligence tools help automate data collection and analysis of public information on your competitors. These can help automate competitor battlecard collection and enable your team to ...Read More

To gain buy-in for a Voice of the Customer (VOC) program, you need to first convince stakeholders of the value of the program. I like to start with a simple proof of concept, which could be as straightforward as conducting a handful of customer interviews to get feedback on areas like NPS or product capabilities. The insights from these interviews can serve as a tangible example to demonstrate the types of insights that can be gleaned from a broader VOC program. Once the organization recognizes ...Read More

There are a few good ways to get relatively unbiased feedback from new customers. The first is to pull a list of recently onboarded customers – these are customers who are newer to your platform and won’t already be intimately familiar with your platform or solution. I’d attempt to reach out to these people first to get their fresh eyes on the feature that you’re launching.   If you’re looking for even more unbiased feedback from customers who haven’t gone through your sales cycle yet, then you ...Read More

Effectively communicating market research findings across the organization is critical to the success of any Product Marketing team. Here are some tips to do this well: Understand the needs of your audience: Begin by understanding which insights are vital to each team or individual and why. For instance, in some cases the product team may be interested in whether a new set of features is differentiated in the market, while the sales team may be more invested in knowing how to speak to the value ...Read More

Product Marketing plays a pivotal role in market research, bridging the gap between product development and the market's needs and desires. The specific role that PMM plays in market research will vary based on your organization and the different teams that are already in place. In general, here’s a breakdown of Product Marketing’s role in market research: Defining research objectives: Product Marketing generally leads the work with cross functional teams, especially Product Management and Sales ...Read More