2-minute Product Marketing Insights: October 2022 Releases
Part 1 Release Date: October 13, 2022 (2 min read).
📈 4 MICRO [PRODUCT MARKETING] CASE STUDIES
[1] Offer a ready-to-use template for a niche to quickly get people into your product.
Airtable's solution applies to different verticals, thereby running the risk of spreading its marketing thin. To tackle this, the company focuses on high-priority use cases in select verticals while releasing product templates for users in that space to show its product value quickly.
[2] Rely on cold-outbound efforts to unravel new value even when you have a PLG motion.
Sometimes your product-led growth motion stalls because the target users for your product require approvals. Guru recognizes the existence of personas who aren't end-users that they need to win over through cold-outbound efforts despite a PLG sales strategy.
[3] Use your landing page to show your product in action and cut down on product tours or explanations.
Eraser uses the "show, don't tell" idealogy to let any user get a feel of their product without leaving the landing page. They use videos showing screen captures alongside full-size live embeds of their product to achieve this.
[4] Track customer behavior around purchase and customer service support to preempt new services.
Look for emerging patterns whenever a customer falters in their journey to discover, purchase, or use your product. One of Amazon's patents around customer buying habits includes "tracking buying habits and applying those past purchases to other people who share that interest."
📚 1 BOOK & TOP 3 INSIGHTS
“Smart Brevity: The Power of Saying More with Less” by Jim VandeHei, Mike Allen, and Roy Schwartz
[1] To write something clear and urgent - Talk to someone initially about the point you want to make. This will lead to something much more interesting when you sit down to write.
[2] The trick for writing team updates - Imagine someone getting on an elevator with no time to spare. What you shout to inform them quickly should be your opening sentence.
[3] “Educational theory shows we can process a presentation best if it has one big idea, backed by three to five points.”
🧠 5 CURATED BUSINESS THINK PIECES
[1] 7 Lessons on Dynamic Pricing (Courtesy of Bruce Springsteen)
[2] A Framework for Finding A Design Partner
[3] Make “Evidence-based” Decisions, Not “Data-based” Decisions
[4] Mapping the Unknown - The Ten Steps to Map Any Industry
[5] The TikTokization of Everything: The Great AI Reckoning
Part 2 Release Date: October 27, 2022 (2 min read).
📈 4 MICRO [PRODUCT MARKETING] CASE STUDIES
[1] Choose freemium over free trial if your product relies on 'virality' to grow.
Calendly allows you to use their tool for free to schedule appointments with others and attract potential users to get familiar with their product too. The freemium option additionally works well for tools that rely on a ton of data to show value or user-generated content.
[2] "Gamify" your customer interactions to support your product efforts from ideation to adoption.
Influitive uses a points-based system through their platform to get customers involved in new product ideas, design interviews, testing new prototypes, etc. Customers can use these points to claim various rewards - gift cards, event tickets, charity donations, books.
[3] Work with the PM team to create a user success statement for every persona to determine launch effectiveness.
Every product initiative at Akili Interactive starts with a statement that captures success in the user's words. This statement, along with key metrics relevant to it, carries all the way to launch.
[4] Reinvest to improve revenue-specific parts of your SaaS product workflow to increase MRR.
Teachable's course checkout page directly links to the company's revenue. Improvements to the page - ex: slick single flow with social proof - led to an increase in course sales by 60%!
📚 1 BOOK & TOP 3 INSIGHTS
[1] Purpose of a Competitive Intelligence (CI) unit - “enable growth, mitigate risks, inform short-term or long-term plans, address strategic or tactical needs, or a combination of all six of these elements.”
[2] Reverse-engineer products, wherever possible, “to fully analyze and understand construction and composition.”
[3] An excellent competitive intel program should include a network of journalists and industry experts to get early warnings on new products and entrants.
🧠 5 CURATED MARKETING THINK PIECES
[1] Conference Talk - “Optimizing go-to-market for product-led growth (PLG).”
[2] 10 General Principles for User Interface Design
[3] The forbidden arts: what Marketing can learn from PR
[4] The Value of Inconvenient Design
[5] (Creator Marketing) How to look more legitimate
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