Whether you are a young internet startup company or an established business, the competition is just one click away. We assist you with your product management.

Especially in this area, it is important to define your product development and pricing for your target groups. In order to identify the real value for your customers, evaluate your product against you competitor’s. This added value can help you in all parts of your online and offline marketing campaigns. It doesn’t matter if your product is a “virtual” one (e.g. software), a commodity, or a genuine service (e.g. legal counseling).

Google’s goal is to rank websites well that provide an added value. Therefore, this is also your goal – and ours for you.

Defining Brand Names

Often companies operate under different brand names and websites. Some use satellite website patterns in their marketing that were designed in an era when it was still possible to find EMD (exact match keyword domains) loopholes in Google. This EMD loophole was closed, as you can read here on Search Engine Land.

It is important to consolidate these various appearances and focus mainly on Internet Marketing:

• Which website do you choose to be printed on merchandise and marketing materials?
• Which names do you use in social media, like Facebook, Twitter and Google Plus?
• Are there any old websites which you could use for strengthening your new website?
• Which names are not used and could be used by you?
• Is there a comprehensive brand protection for your name, or could a foreign competitor use your name for advertising tomorrow? You should also think about your sale partners and “affiliates”.

Defining Target Groups

Your target group is not unlimited and undefined. You probably already have a target group definition. But, does it fit well into your internet marketing? Which internet marketing channels are suitable for your target groups?

Tasks for Definition of Target Groups

A few important tasks and questions for the definition of your target groups are:

• Which languages and countries do you market to online?
• Are you available for your target group on “their” platform in “their” language?
• Which product segments are relevant for specific segments of your target group? Should you segment your marketing further or different?
• How do you reach your target audience today? What does work and what not? E.g. Facebook isn’t the solution for all B2B needs, since most customers use it in their free time in a different context.
• Do you already know the conversion rates per channel (e.g. newsletter, phone, Facebook, Twitter, white paper etc.)? – Note: Conversion rates could be inquiries, sales, or links!

Product Development, Prices and Discounts

Depending on your target group definition your prices and discounts could need redesign. Discounts and coupons codes can often be found within a few minutes on the internet regardless of the campaigns and market areas. Do discounts then still benefit you?

Tasks in Product Development and Pricing

A few important tasks and questions in product development and pricing are:

• Does it make sense to give out discounts? If so, where?
• How do you differentiate your price segments based on customer segments?
• Are there price differences in the different markets? How do your customers cope with that?
• Can you combine or split some product segments?
• Which price works for which target group and which market?
• What do you know about your customer loyalty and price elasticity?