In this 45 second PAREable, discover new techniques of marketing to reach and grow customers.
- Product itself is the best way to capture new customers. Use technology to answer “How can I get customers?” by tracking behavior and iterate the product ASAP.
- Development process is a mixture of marketing and product development. Through each iteration of the process, both are refined.
- The product doesn’t have to be perfect at launch. It is optimized afterwards.
- Having a product people want, to establish product market fit. Does it respond to a need? Is it useful? Does it enhance user’s lives?
- Reward your user for learning how to use your product.
- Satisfied customers will spread words of mouth and reduce the cost of marketing.
- Creating customer awareness is an essential part of the growth strategy. I.e. Dropbox started with invite-only to create a virtual waitlist.
- Target early adopters because they are more receptive to try new things. I.e. Uber gave away free rides during SXSW 2013 instead of pay for ads.
- Virality, make your product worth sharing and encourage sharing.
- Incentivize sharing and create noticable elements are also key to boost brand awareness.
- Sustainable growth is achieved by keeping your existing customers after they’ve became your customers.
- Find the right metric to measure conversion rate and stickiness. So you can improve your service and turn inactive users into active users.
- ROI and profit margins are generally higher with existing customers compare to new customers.
Live and apply these ideas with the FREE Mindmory app!
Don’t just take my words, check out Ryan Holiday’s Growth Hacker Marketing.
Until the next PAREable..