Are you tired of marketing strategies that seem more like flashy gimmicks than delivering real value to your customers?
Are you seeking an approach grounded in honesty, transparency, and customer-centricity?
If so, then pragmatic marketing may be precisely what you’re looking for. Pragmatic marketing is solely focused on delivering results. That means focusing on practical, no-nonsense strategies that work.
It means putting your customers first and understanding their needs and desires. And it means approaching marketing with a sense of honesty and transparency that builds trust and loyalty.
In this article, we’ll explore the world of pragmatic marketing and what makes it so unique. We’ll ask the tough questions, such as how can you implement a pragmatic marketing framework, and is it instrumental why?
What Is Pragmatic Marketing?
Pragmatic marketing definition:
Pragmatic marketing is an approach that product development and marketing use to create products and launch processes that continually adapt to your customers’ wants, needs, and desires.
Considered one of the most effective marketing strategies, pragmatic marketing is tested, evaluated, and revised after it is adapted.
The bottom line is to create products/ things that match exactly to what your customers requested.
The Pragmatic Marketing Framework
The pragmatic marketing framework focuses on successively modifying your product and testing it regularly to ensure the final product is up to a point.
Example of Pragmatic Marketing Framework
As an example of the pragmatic marketing approach, let’s take a speaker manufacturing company that wants to develop a smart speaker that caters to a set of audiences.
One sample of the audience will test the speaker first. This speaker will then go under several modifications that the product teams will make on the basis of the feedback they receive from customers. Follow that up again by giving the speaker to the audience.
Drawbacks of Using the Pragmatic Approach To Marketing
We say this is the best marketing approach ever because how not? This approach puts the crucial business factor at the center of their development- customers.
However, just like all the other approaches of a marketing plan, this, too, has its share of pitfalls.
- Pragmatic marketing will show you the crucial components of your product that require attention and not the finer details.
- The individual factors will multiply.
- There’s an 85% chance of a product failing. Have this fact at the back of your mind.
6 Tips for Implementing a Pragmatic Marketing Framework
1. Find your unique competencies and pin an audience that will most benefit from your features.
2. Pinpoint to the correct audience. Not the one you think is your audience, but check practically with resources like surveys, etc.
3. Email special invitations to your target demographic to create a buzz for your product.
4. Launch timing is crucial. Therefore introducing the product in the market when the consumer curiosity peaks are the best timing. Choose ideal periods like holidays or grand events to offer what you need to offer.
5. What sets the pragmatic marketing framework apart is it generates excitement during the product release, such as creating rumors, leaks, etc.
6. The positioning and messaging part if, again, what is unique to a pragmatic marketing approach. Understand these aspects wrt Nike and Apple and how they do it.
Key Concepts in Pragmatic Marketing
When you utilize the pragmatic marketing framework, you must consider crucial vital concepts.
Focus concepts in pragmatic marketing are:
Deciding the industry and the marketplace
List down the target markets to decide the target market segments you’d want to explore. Ensure these market segments can support your products today and in the future.
Working on the distribution strategy
You need to lay the groundwork for identifying the channels that your target markets prefer.
Compiling the product portfolio
You’ll have multiple target markets and segments in mind. To clear confusion, categorize your buying processes, business plans, and marketing strategies in different portfolios, wrt to the market and segment.
Implementing Pragmatic Marketing
STEP 1 involves identifying the market problems. In an initial customer interview using surveys and research, ask your customers what specific features they want to see.
STEP 2 is having to perform the win-loss analysis. Get to know why specific evaluators decided to purchase or not your product.
STEP 3 involves creating prototypes. Product teams will create a rough product draft, reflecting all the suggested ideas your customers gave you.
STEP 4 requires you to test the product with a small team. Once you complete building the prototype, have a beta group or a small target audience test your prototype.
STEP 5 entails analyzing the results. After the soft launch of your product, you now need to gather the feedback you received from the beta group, examine the product’s performance, and make necessary changes for the next iteration.
STEP 6 will involve refining your product. Product development teams will make more improvements to your product.
STEP 7 is all about testing again. Iterate continuously via the testing and development process until you have a fine product in hand. Marketers will also discuss the appropriate pricing of the product in this step.
STEP 8, finally, will be regarding the launching of your product. Once you have all the tick marks on your checklist of a good-to-go product, release it in the market to the general public. Your work doesn’t end here. You’ll need to take feedback and make changes continuously, and the cycle repeats.
One of the benefits of adopting the pragmatic marketing approach is that it creates a common language amongst your entire team and gives them the blueprint to craft a successful, problem-oriented, and profitable product in the market.
It also helps you build a stronger relationship with your customers by being transparent and honest about what you can offer.
Product management plays a central role in the pragmatic marketing approach. At its core, pragmatic marketing is about delivering value to customers, and product management is the key to achieving this goal.
Product managers must balance the customer’s needs with the business’s goals and use that information to develop products that meet customers’ needs.