2-minute Product Marketing Insights: August 2022 Releases
Part 1 Release Date: August 11, 2022 (2 min read).
📈 4 MICRO [PRODUCT MARKETING] CASE STUDIES
[1] Use release notes to engage with your customers better and grow by offering support.
Release notes help you proactively communicate to your customer, increase transparency, and improve retention. Help Scout refers to this as ‘support-led growth’ – turning a customer support channel into a revenue driver.
[2] Choose UX over UI during the initial stages of your product to attract early adopters.
Clubhouse used its UX to facilitate more core product interactions and settled for a good enough UI. Research also shows that most of your bug reports and product feedback stem from UX issues.
[3] Verify if your product is 10X better than the existing way of doing things before monetization.
Otter.ai competes with traditional notetaking. The company uses free engagement to educate new users on a new way of taking meeting notes. Monetization is a few steps down, explicitly aimed at premium users to tap into events, resources, and better customer experience.
[4] Communicate the Voice of Customer (VoC) in multiple ways to ensure the customer wins.
Figma relies on a dedicated ‘customer feedback’ slack channel to drive executives’ business and product decisions. Google offers a report internally to show progress on themes uncovered during customer feedback.
📚 1 BOOK & TOP 3 INSIGHTS
[1] Apply the concept of 3 ways to your company - 1st way: aim to create a fast flow of work from you (company) to the customer, 2nd way: shorten and amplify feedback loops, 3rd way: experiment and learn.
[2] It's vital to take needless work out of any system more than adding more work into the same system.
[3] Ask the following question to any project stakeholder for new insights - "What does a bad day look like for you?"
🧠 5 CURATED BUSINESS THINK PIECES
[1] Rituals for hypergrowth: An inside look at how YouTube scaled
[2] How can experimentation reduce uncertainty during a recession?
[3] A look behind Shein’s success: a “ruthlessly efficient” supply chain
[4] Avoiding the common pitfalls of strategy offsites
[5]How to improve understanding and empathy with an organization communication plan
Part 2 Release Date: August 25, 2022 (2 min read).
📈 4 MICRO [PRODUCT MARKETING] CASE STUDIES
[1] Enable triggered surveys to get immediate passive feedback on product functionality.
Triggered surveys are small forms that appear when a customer uses a specific feature, completes a particular action, etc. Unlike the drawn-out process of Net Promoter Score surveys, Atlassian could quickly measure the satisfaction behind the new page editing experience in Confluence using these.
[2] Perform a holistic MARKET/PRODUCT/CHANNELS/MODEL analysis to break your growth slump.
Hackajob, a developer job platform, reignited its growth after a slump of 18 months by reevaluating market/product/channels/model fit. They made 3 choices – focus on a specific persona, change the business model, and set up a brand budget without conversion goals.
[3] Double down on winning channels to attract new users during a down cycle and build expertise.
Patrick Moran, who built growth models leading to 30% Y/Y MAU growth at Netflix and Spotify, advises companies to avoid testing multiple channels to see what works in a down cycle. You manage 'burn' and gain channel expertise by focusing on your 1 or 2 well-performing channels.
[4] Communicate your value better by replacing generic CTAs with an invitation for a product demo.
To become a customer-centric B2B SaaS business, you need to personalize your marketing beyond your traditional social media touchpoints. TimeTackle uses the technique above to show its value faster to prospects.
📚 1 BOOK & TOP 3 INSIGHTS
[1] 40-70 rule of decision making - "Never make a decision with less than 40% of the information available, and don't gather more than 70% of the information available".
[2] 4 vital areas to master at a minimum to start a competitive intel program - B.P.I.S. = business, product, industry, and stakeholders.
[3] Offer basic intelligence training for people in front-line roles like new client onboarding, customer support, sales, and loyalty.
🧠 5 CURATED BUSINESS THINK PIECES
[1] The Rise of the Worker Productivity Score
[2] Product market fit isn’t a destination
[3] The forgotten benefits of “low tech” user interfaces
[4] A Cyclic Theory of Subcultures
[5] The X Inside the U: The 6 elements in user experience
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