Growth hacking often leads to quick wins that quickly fade away. For example, while hosting a giveaway or a PR stunt might gather leads or attract visitors, these strategies don’t always provide long-term value. The key to sustainable growth lies in implementing product marketing growth hacks that stand the test of time.
Source: Pinterest
This post will explore four such hacks so you can replicate their success for your business and ensure lasting growth! Let’s get started.
What Is Product Marketing?
Product marketing sits at the intersection of product, marketing, and sales. It’s about showing people what your product can do for them, aiming to engage, convert, and retain customers.
Source: Pinterest
Dave Gerhardt from Drift emphasizes that product marketing bridges the gap between these three areas. It involves conveying the value of your product in a way that resonates with your target audience. Here are some effective product marketing hacks that work really well.
Create a Sales Funnel
A sales funnel automates your sales process, allowing you to make sales even while you sleep. It warms up leads until they’re ready to buy. The process begins with awareness, where you attract ideal customers with compelling content and entice them to join your email list.
Source: Pinterest
Next is the consideration stage, where you nurture the relationship through automated emails. Finally, in the decision stage, you close the deal with a sales pitch.
A Sales Funnel Case Study of Black Dog Traders
Black Dog Traders, known for selling custom-built vintage Land Cruisers, employs a strategic sales funnel to warm up leads for their high-priced product. They use an exit-intent popup to offer photos and specs of the vehicle as a lead magnet. Once a lead joins their list, they receive a welcome email with technical specs and a discount code.
Source: Pinterest
Follow-up emails provide informative content and reminders about the core offering, encouraging prospects to schedule a call or visit. This automated process ensures they don’t lose potential sales and saves time on follow-ups.
Conversion Rate Optimization (CRO)
CRO focuses on improving existing content to increase conversion rates. It’s about making the most of the traffic you already have. The process starts with auditing your current marketing materials to find baseline conversion rates. Then, you make tweaks and run A/B tests to see what works best.
Source: Pinterest
For instance, Express Watches saw a 107% increase in sales by changing just four words on its product page. Continuously optimizing based on test results can significantly improve your conversion rates.
Customer Service as Marketing
Excellent customer service can significantly impact your business’s bottom line. So, instead of constantly acquiring new customers, focus on retaining current ones. For instance, Trader Joe’s and Buffer excel in customer service by creating loyal customers who are willing to pay more for a better experience.
Source: Pinterest
Start by tracking your Net Promoter Score (NPS) to measure customer experience and brand loyalty. Then, create small ways to delight your customers, like sending handwritten notes or branded stickers.
Net Promoter Score (NPS)
The Net Promoter Score (NPS) is a key metric for measuring customer loyalty and experience. It involves asking customers this simple question: “How likely is it that you would recommend our product to a friend or colleague?” Then, you’ll rank the response on a scale of 1 to 10. Tools like Promoter.io, Zendesk, and SurveyMonkey can help you implement NPS surveys.
Source: Pinterest
Tracking NPS provides a baseline to compare results and track improvement. For example, Greetabl uses NPS surveys to gather valuable customer feedback. This data helps improve their customer service and overall experience, ensuring higher customer satisfaction and loyalty.
Creating Moments of Delight
Creating moments of delight for your customers can increase loyalty and word-of-mouth referrals. Companies like Trader Joe’s and Buffer excel in this area by providing exceptional customer service and small surprises. Buffer, for instance, sends handwritten notes and branded stickers to customers, enhancing their experience and building long-term relationships.
Source: Pinterest
Warby Parker’s excellent customer service creates a referral effect, with satisfied customers recommending their products to others. By setting a customer delight budget, you make your customers happy, increase their lifetime value, and boost your business’s reputation.
Customer Feedback Loop
Listening to customer feedback is essential for product development and improving customer experience. For instance, Buffer uses UserVoice to gather feedback like feature requests, helping them make meaningful product improvements.
Source: Pinterest
This approach saves time and ensures they build products that customers actually want. By integrating customer service and marketing teams, you can ensure that feedback is communicated effectively and used to drive product development.
Affiliate or Referral Programs
Affiliate and referral programs can incentivize customers to spread the word about your product. These programs are cost-effective because you only pay for actual sales. An affiliate program typically rewards the affiliate with cash commissions, while a referral program rewards the referrer with credits or other non-cash gifts.
Source: Pinterest
For example, Leesa, an online mattress retailer, gets a third of its sales from its customer referral program. Harry’s, a shaving brand, gathered 100,000 leads pre-launch through a referral campaign by offering rewards for sharing unique referral URLs. These programs can significantly boost your customer base and sales when you adopt them.
Quick Action Plans
To create a sales funnel, identify your core offer, create a compelling lead magnet, and attract customers to the lead magnet with targeted content. For CRO, start by finding your baseline conversion rates, then test and tweak elements like CTAs, email timing, and visuals.
Source: Pinterest
Improve customer service by tracking your NPS, delighting customers with small surprises, and gathering feedback to drive product development. For affiliate or referral programs, choose software to automate the process, create enticing rewards, and invite customers to join.
Hack That Growth!
There you have it, the tools to implement lasting product marketing growth hacks. Remember to focus on automating your sales process with a sales funnel to optimize conversion rates. In addition, use excellent customer service as a marketing tool, and leverage affiliate or referral programs.
Source: Pinterest
Finally, choose one growth hack to focus on for the next 30 days and see the difference it can make. By following these hacks, you can achieve sustainable growth!
