Before we begin understanding why the marketing-first approach is important as opposed to the service-first approach, you need to ask yourself – Which one of these do you follow in your business? Do you prioritise marketing first, or do you focus on delivering service first to the customers?
Which one is the more brilliant approach – to develop an innovative product first that fits the market needs and user demands, or to learn the product demand first through market research?
The debate of whether businesses should be focusing on a product-first/service-first approach or a marketing-first approach is endless.
In this blog, we will understand what a marketing-first approach is, its pros and cons, and how it benefits businesses by fostering more customer awareness and generating product demand.
What is a Marketing-First Approach in Businesses?
Businesses employ a marketing-first approach where they focus on understanding consumer needs and desires before anything else. Businesses understand user preferences well through market research and use this knowledge to develop products and overall business marketing strategy.
Before initiating product development, businesses comprehensively conduct market research to identify gaps and create products that address potential gaps in the market. If your approach to product development begins with market research, you are most likely a marketing-first business.
As opposed to the marketing-first approach, the product-first approach focuses on the idea itself. In this approach, business owners begin with the idea, which can be a breakthrough innovation or a personal vision. Businesses develop the product and market it to reach the potential audience. Using this strategy, businesses can fail in the product launch if the market is not ready.
Why Do You Need a Marketing-First Approach In Your Business? Let’s Find Out!
Businesses need a marketing-first mindset to truly adopt this approach for their business operations. It not only deals with creating the product, but it also deals with understanding user demands and conducting comprehensive market research to identify gaps.
By using a marketing-first approach, your main goal is to create a product which customers will like and prefer as soon as it is launched. It can only be possible by understanding customer requirements, demands and preferences. You will need to engage in brand building and positioning, creating user personas and developing a robust marketing strategy to drive success and competitiveness.
Let’s see the reasons why marketing-first is the new path to navigate saturated markets.
#1: The key is to develop a product that customers will love
Businesses use a marketing-first approach to create a product that customers will love. In the marketing first approach, businesses conduct comprehensive market research before initiating product development. Business owners use this knowledge to understand customer demands and pain points. They can leverage this information to meet specific customer preferences and needs.
#2: Marketing-First Approach Enables Higher Customer Satisfaction
Businesses design products and services after market research to meet the customer demands effectively. The core focus of the marketing-first approach is on fostering strong brand loyalty and enabling higher satisfaction. If your product is well-researched, you will most likely have repeat customers who can recommend your products and services to their friends and family members.
#3: Leverage Competitive Advantage Using Marketing-First Approach
By understanding customer demands and preferences in the market, businesses can leverage a competitive advantage. By employing a marketing-first approach, businesses can very well learn about upcoming opportunities in the market and develop products accordingly. Businesses can stand out from the competitors in a saturated market by launching a well-researched product.
The marketing first approach enables business owners to establish a strong brand presence. Businesses can enter the market early, which enables customer loyalty and builds a reputable brand recognition.
#4: Marketing-First Approach in Businesses Enables Reduced Risk of Product Failure
If you have conducted market research comprehensively to design and launch a new product, you are less likely to fail after the product launch.
Since the product is already well-researched according to the current market gaps, customers will resonate with it and are more likely to purchase it. By employing a marketing-first approach, you are delivering services and products that customers truly and actively want. It not only drives sales but also supports long-term revenue growth. You can avoid overallocation of resources and costly mistakes by understanding customer preferences and needs transparently.
To Sum Up
Marketing is not an afterthought for any business; it’s the core of all operations. To develop a product ground up, you need a marketing-first approach to drive sales and conversions. You can create the product using comprehensive market research on your core audience. You can understand pain points, preferences and user demands to truly gather what your customer wants.
Your marketing game needs a push so that you can gain a competitive advantage in a saturated market. You can contact our marketing team at VerveOnlineMarketing, a leading performance marketing company in India, to create a tailored marketing plan for your business.
