rand fishkin -- the art of product marketing
Post on 06-Jan-2017
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Rand Fishkin, Wizard of Moz | @randfish | rand@moz.com
The Art of Product MarketingHow to attract, entice, and convert the right audience
for the product(s) and company you’re creating.
Slides online atBit.ly/artproductmarketing
Why Do Startups(and new products) Fail?
CB Insights compiled an analysis from startup post-mortems.
I’d argue these 5 are mostly “couldn’t find
enough customers” or “couldn’t affordably find
customers”
“Lean Startup” methodology teaches us to build a product people actually want and will use:
From Eric Ries’ slide deck on The Lean Startup
But it misses how to market and grow an audience of right customers so our product can scale…
From Eric Ries’ slide deck on The Lean Startup
What’s after the MVP?
Identifyingthe Right Customers
Who wants this product and isalready seeking it out?
What else is our audience searching for?And what else do they use to describe this problem?
Note: AdWords’ numbers should be viewed as ranges, not
absolutes (e.g. 880 might mean 300-1,200 actual searches/month)
More Detail on AdWords’ Data Weirdness
AdWords hides many searches that Google thinks are non-commercial, so use Suggest + Related, too.
Search queries can often lead to great sources of audience and customer discovery
This can help tell us what matters to reviewers &
customers
Once you have real people signing up for your product,
you can learn more about them
Now we just need to find out where
people like this guy hang out
Have a community & can find/recruit
folks excited about your product?
Do that!
Then you can survey this
audience to identify their
clones
Targeting the Right Audiencein the Right Places
SEO & PPC for relevant keywords
are obvious starting points
On average, paid results get ~18% of search
clicksOrganic gets
~82%
Smart marketers invest throughout the funnel,
to maximize opportunity
Facebook’s ad creator can give some sense of audience size for many fields/interests
SimilarWeb Pro can show you where other sites get their traffic (relatively accurate except for the long tail)
Via SimilarWeb Pro
SimilarWeb can also show search keywords:
Via SimilarWeb Pro
The KWs sites pay for are most often those that convert
best
And referring/social media traffic:
Via SimilarWeb Pro
These sites can lead you to potential press opportunities, content ideas, partnerships,
etc.
Don’t be too biased to invest only in Google or Facebook – there are tons of opportunities
Many products’ entire, very successful, strategies fit into channels w/ <0.1%
of global web traffic.
Attracting an Audienceto Your Platform
The 5 Paths to Audience Attraction:The Product Itself
Network & Viral/WoM
Paid Advertising
Influencers, Press, & PRContent + Search, Social, Email, et
al.
Using the Product Itself:
How’d they do that?!
Using the Product Itself:
The product is naturally appealing to Reddit’s
audience, and the visuals fit squarely into the current zeitgeist.
Using the Product Itself:
Using the Product Itself:
Unless you can envision headlines like this about your product, don’t rely
solely on the product to sell itself.
Network & Viral / Word-of-Mouth
Everyone who takes a SurveyMonkey survey is a potential future customer
Network & Viral / Word-of-Mouth
Via First Round Capital’s Article on Slack
Slack is a product where 1 or 2 people can convince an entire organization to
use it.
Network & Viral / Word-of-Mouth
Via Skarp’s Kickstarter page
Kickstarter is an inherently WoM & viral-
driven marketing Launchpad. Products only get made if people who
want them share & amplify.
Paid Advertising
Thanks to retargeting, RLSA, browser-ID’ing, and social logins, paid ads are more
intelligent than ever.
Paid Advertising
Via Recode on DraftKings & FanDuel
Influencers, Press, & PR
Via Techcrunch on Quora’s Growth
Quora has intentionally foregone some forms of growth (SEO notably) to
focus on influencers, press, & PR-style
partnerships.
Influencers, Press, & PR
Via YouAreAwesome’s Blog Post
Urbanspoon needed to compete w/ Yelp’s domination in restaurant
reviews, so targeted bloggers who felt left out of Yelp’s ecosystem.
Influencers, Press, & PRBeardBrand continues to generate great press
and has started their own beard-focused magazine.
Content + Search, Social, Email, et al.
Moz invests relentlessly in content strategy & distribution.
Publish
Amplify
Grow network Rank for slightly more
competitive terms & phrases
Get links Grow authority
Earn search traffic
Content + Search, Social, Email, et al.
Free tools (& freemium) can be great forms of content marketing.
Via Crew.co’s App vs. Website and VoilaNorbert
Nearly every startup & new product uses a combination of these:
The Product ItselfNetwork & Viral/WoM
Paid AdvertisingInfluencers, Press, & PR
Content + Search, Social, Email, et al.
Convertingthe Right Customers
Remember those people who signed up for your product
& loved it?
We need to identify the traits that separate customers who’ll use & love our product from those who won’t.
My Favorite Process:
From Conversion Rate Experts’ case study
Boom.
And Shakalaka.
Didn’t try the product
Tried, but didn’t love it
Tried & loved the product
What do you think the product does?
What made you try it? What made you try it?
What would make you more likely to try it?
What are your biggest objections to signup?
What objections did you have and how did you overcome them?
What caused you to stop using the
product?What would have made you stay a
customer?
What objections did you have and how did you overcome
them?What’s been most valuable to you?
If you’ve loved it, can we share your story?
Retaining, Delighting, & Growing Amplification
ID usage & profile characteristics shared by your most loyal users.
Nudge those traits to the rest of your
audience (both in the product & through
external marketing).
Recognize & reward, as personally as
possible, users that exhibit behaviors that trend toward
loyalty & amplification.
Don’t be fooled by my oversimplification; this process is even harder than acquisition marketing.
Which marketing channels & tactics should you invest in?
The Biggest Mistake Companies Make When Investing in Marketing?
Assuming non-paid mediachannels work like paid media:
People
Pour more dollars & people in
+ Dollars =IF:
ELSE:
Positive ROITHEN:
Find new channel/tactic
Organic channels, like products themselves, need time to experiment, fail, learn, & iterate
The 1st WB Fridays were some of our worst
performing content.
But, after years of experimenting, we found a formula & an
audience, & now they’re some of our best.
Rand Fishkin, Wizard of Moz | @randfish | rand@moz.com
Bit.ly/artproductmarketing
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