This really depends on your business model, the org structure, and company norms, but I can share the mission we developed for the PMM team here at Gong.
PMM deeply understands our customers, products, and market in order to deliver the right product, to the right audience, with the right message.
This is the #1 objective, and the way you accomplish this is through a variety of intiatives. Our top ones are:
Customer segmentation—who cares the MOST, why are they using us, what are their alternatives, why would they stay, why would they leave. Both qualitative (interviews), and quantitative( (product usage and sales cycle data).
I think getting incredibly clear on user profiles, habits and motivations is a critical input for every other area of the business. Things like posiitoning and messaging fall out of user understanding, and the very downstream activities many PMMs attach themselves to—things like enablement, demos, content creation, pricing and packaging, etc can all actually be split off from PMM as a business grows. They don't define our core work, they are products of our core work.
The most important business objective for Product Marketing is to help the business achieve its sales targets – for some businesses this will be measured in MRR or ACV. However you measure this number, ensure you understand PMMs role in helping the organization meet it. This is the most important thing PMM can do and everything we prioritize needs to tie back to it. If it does not, then we should not be working on it.