You probably don’t rely on inventory data from 10 years ago to make business decisions for the next year, right? Well, the same should go for inventory data of your company’s marketing and sales assets. If it’s been awhile since you’ve reviewed the tools your team has to grow your business, it may be time to take a closer look at your resources. Not only does auditing your available marketing and sales assets show you gaps and opportunities, but the data you gather also serves as a great tool for new hires.
Below are four aspects of your product marketing to consider to get you started:
1. Product Imagery
Do you have updated professional imagery for all of your products, including shots of the product in use as well as imagery with a white background? If it’s time to update your visual assets, make the most of a half-day or full-day shoot with a photographer by preparing a shot list as you’re building out your audit.
2. Product Key Features & Related Products
When your team is talking to a current client or prospect, what are the key features of each product they should be highlighting? What common problems does this product solve? What benefits make the client say, “wow!”? Anticipate cross-selling and upselling opportunities by including information in your inventory about your other products that are often sold with or associated with the product.
3. Available Assets
Do you have a good mix of digital and print assets for people at various stages of the sales funnel? Now is a good time to talk to your sales and marketing team about what assets have been most effective in driving interest and sales. For example, does each product need its own sell sheet, or can you create a single sell sheet by product category and drive people to the website for more detail? Are customers more likely to purchase a product after they read a case study about how the product solved another client’s problem? This assessment will help you be strategic about what assets to build so you’re not spending time on assets that won’t move the needle.
4. Competing Products & Competitive Advantage
What products does this product compete against? If you’re not keeping a pulse on what your competition is doing on a regular basis, now is a great time to investigate. What are competing companies saying about their product? What data points or assets are they using to bolster their claims? Can you make comparable (or better) claims, or highlight other features of your product in contrast? Your team will be able to drive better sales if they have a clear understanding of the landscape in which they are working.
A simple spreadsheet is all you need to get started with this important exercise, and you’ll be amazed by how it will bring department priorities into clear view (not mention how often new team members will reference it as they’re learning your business). Happy auditing!
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