How successful startups scale with the right product marketing fit
Hey there, awesome marketers! Today, we're venturing into the exciting world of successful startups and how they scale to greatness with the right product marketing fit.
Now, guys, before we get all pumped up about scaling like crazy, let's talk about marketing fit.
It's that sweet spot where your product perfectly aligns with your target audience's needs, desires, and preferences.
When you hit that bull’s eye, your startup becomes an irresistible force in the market. Customers start knocking on your door, word spreads like wildfire, and your growth takes off like a rocket.
I sat with Taiwo Oyewole, Lead Mentor at LatAm Startups, on my Marketing Leadership podcast to discuss the topic “Understanding how startups scale with the right product marketing fit” – it was such an entertaining and value-packed discourse (which you must listen to by the way) that I decided to go even further by delivering this piece to you guys.
Now, let's journey together through each key aspect of scaling with the right product marketing fit.
Understanding your target personas
Okay, first things first, to find that perfect marketing fit, you need to know who you're trying to impress. Imagine you're throwing a party and want to ensure you have the right mix of guests. Startups need to do the same by creating detailed target personas.
These personas give you the lowdown on your audience's preferences, pain points, and what makes them tick.
Two ways to nail audience targeting:
Conduct in-depth market research and surveys to gather valuable data about your potential customers.
Utilize customer feedback and reviews to identify pain points and preferences.
According to HBR, when finding product market fit, focus more on psychographics than demographics.
And you know what’s cool? As your startup evolves, these insights might impact your Minimum Viable Product (MVP). Your audience's needs change, and so should your product. Flexibility is key, my friends.
From a marketing standpoint, evaluating product-market fit means keeping a close eye on customer feedback.
Listen to what they say, analyze the data, and adjust your strategies accordingly.
It's all about staying in sync with your customers, like dancing to the same groovy beat.
Taiwo presented an exciting analogy on how target personas work in this podcast episode. He broke it down so well that it’ll be ingrained in your mind as you segment your customers.
Navigating the right platforms and channels
Now that we know who we're talking to, it's time to figure out where to find them.
Not all platforms are created equal, guys. It's like searching for hidden treasure – you must know where to dig.
For B2B startups, LinkedIn might be the place to make profound connections, build professional networks, generate leads, and establish thought leadership. Startups who go for the win on LinkedIn with a winning LinkedIn strategy will succeed at positioning themselves as industry experts.
Instagram and TikTok, on the other hand, are great for reaching fashion-minded folks and foodies, amongst others. Twitter and Threads are great for starting conversations that drive brand equity and engagement.
Beyond regular marketing channels, other customer acquisition verticals can work wonders. Think about…
Mobile Apps: Mobile usage is skyrocketing, and startups can capitalize on this trend by creating user-friendly apps that give their customers ease of product/service access and navigation.
Podcasts: They're all the rage, and enterprising startups who dig deep will find their niche and host storytelling podcasts to build a loyal audience and organically promote their brand.
Special Communities: Platforms like Reddit and Discord offer spaces for niche communities, making it an excellent place for startups to find their tribe and engage with potential customers.
B2B E-commerce: Some startups have found success by offering their products directly through B2B e-commerce platforms like Shopify Plus, simplifying the purchasing process for business customers.
These hidden gems can help you reach your audience unexpectedly, and who doesn't love a good surprise?
Now, let’s talk Content Marketing people…
Crafting Contextual content marketing
You know, guys, in a world full of personalized emojis and tailored recommendations, generic content won't cut it anymore.
Startups need to be smart about their content marketing game. It's all about creating messages that resonate with your audience personally. It's like winking in a crowded room – you want to catch the right person's eye!
So, how can you do that?
By understanding your audience's needs and pain points, crafting content that addresses them head-on. No fluff, just valuable information and a sprinkle of charm.
Remember - content is king, but context is the queen that rules them all.
Tips for driving efficient contextual content marketing:
Personalization: Tailor your content to individual preferences and behaviors. Explore tools that can help you gather user data and deliver targeted messages.
Storytelling: Use compelling narratives to connect your audience emotionally and inspire action.
To reach your intended target:
Define clear goals: Set specific objectives for each piece of content to ensure it aligns with your overall marketing strategy.
Choose the right channels: Consider your audience's preferred platforms and tailor your content accordingly. For instance, in Taiwo's words, how you communicate on LinkedIn is not necessarily the same way you’d communicate on Instagram. Messaging might be the same, but the context of that messaging might vary. The reason is that the way people consume information on LinkedIn completely differs from how they consume it on Instagram.
If you're targeting Gen Z, for instance, platforms like Instagram or TikTok might be your go-to, while for professionals, you would opt for LinkedIn.
Business Messaging with Purpose
Communication is the key to any successful relationship; the same goes for startups and their customers. Business messaging apps are the superheroes of the startup world. They help businesses understand their customers better and improve their offerings based on real-time feedback.
Many startups today use private business communication apps to provide personalized support, deliver special offers, and even turn their customers into brand advocates. It's like having a direct hotline to your customers' hearts.
However, when it comes to business messaging with purpose, remember, it's not just about sales pitches. It's about building meaningful connections and being there for your customers every step of the way.
Regardless of where you are as a marketing professional or an entrepreneur, make sure there’s purpose in your messaging, that you’re connecting the dots, and that everything points to success.
Making marketing a part of the startup DNA
Time to talk about processes, guys. Yes, it might sound boring, but trust me, it's the backbone of every successful startup. You don't want marketing to be an afterthought; you want it to be ingrained in your startup's DNA though Taiwo, in our chat, suggests that you shouldn’t be in a hurry to start marketing your product.
He explains that Consumer Packaged Goods (CPG) companies understand this tactic well because, with quite a number of them, the product is already in the market before they start advertising it. “They get it into the hands of the sellers or retailers first, then they gather feedback on whether it needs adjustments and if yes, where– sometimes it’s in the market for up to six months before they begin advertising,” he says.
Check out the complete podcast episode with Taiwo
When you decide to start marketing, how best do you go about it? It's simple, really. Let’s look out two ways…
1. Get an expert on board - Find a marketing whiz who can guide you through the process. They'll help you create a marketing strategy that aligns with your startup's goals and values. It's like having a GPS for your marketing journey.
2. D-I-Y IT (Develop an efficient marketing process) by doing the following:
Set Clear Objectives: Define your marketing goals and key performance indicators (KPIs) to track progress and success.
Utilize Project Management Tools: Tools like Asana and Trello can help you streamline marketing workflows and collaborate effectively.
Conduct Research: Both qualitative and quantitative data about your audience, their pain points, channels of convergence, and more. All these help streamline your marketing efforts and shoot them to success.
Data-Driven Decision Making: Use analytics tools like Google Analytics and Mixpanel to make informed marketing decisions based on data insights.
Before we move to my final words, I’ll like to resound a mistake that some startups make and should be avoided– startups want to do too many things at the same time about marketing. They want to do too many things on a limited budget.
However, you don’t need to be on every platform as a startup. You don’t need to use every media channel to be able to push your product or service.
Final Words…
So, my fellow marketers, it's time to wrap things up.
Scaling like a champ with the right product marketing fit is no easy feat (catch the rhyme there? Lol), but armed with the proper knowledge and strategies, you can conquer the startup world.
Remember, it starts with understanding your audience, crafting killer content, and making meaningful connections through business messaging. And remember to have a solid marketing process in place.
Catch up on this insightful episode with Taiwo Oyewole where he speaks on “Understanding how startups scale with the right product marketing fit”.
