The traditional B2B marketing playbook is no longer effective; here's why. Today, B2B marketing overly focuses on the small percentage of buyers ready to purchase immediately, neglecting a broad audience that is not yet engaged.
Consider this tip…Allocate a meaningful amount of your budget for brand building. Move away from outdated metrics like cost-per-click to focus on engaging and nurturing potential clients, fostering emotional connections.
Wouldn’t it be nice if your customers did your selling for you? It sounds great – yet despite 83% of customers being willing to provide referrals, only 29% actually do. That's quite wild! To bridge this referral gap, here are two strategies to get you started.
1) Offer tailored rewards such as software access, discounts, or tangible goods to encourage referrals. 2)Engage customers during moments of high rapport, like after receiving positive feedback, at renewal times, or during active marketing engagements.
To gate or not to gate? This is a common dilemma for SaaS companies looking to balance between free user growth and monetization. On the one hand, gated content offers valuable information in exchange for user details, facilitating lead generation. On the other hand, ungated content is freely available and helps to enhance brand awareness and SEO.
Here's one thing to keep in mind...When making the decision to gate or ungate, focus on the user experience. Allow users to reach the 'Aha!' moment faster by providing a streamlined, initial experience with limited barriers.
Steer clear of these PLG misconceptions. For starters, PLG is not just about offering free trials; it’s a unified strategy involving all departments in your company to enhance the value delivered to the customers. On the same note, PLG does not aim to eliminate sales, marketing, or customer service teams - it should empower these departments to focus on high-value activities.
A roundup within a roundup - now that’s meta! This edition of SaaSletter highlights the must-know takeaways from top reads on SaaS metrics. Explore the key findings from SaaS studies like ICONIQ's 'Growth + Efficiency' report and Meritech’s Software Pulse.
Here's a one nugget. SaaS companies are diving into expansion much earlier in their lifecycle, and they're turning to channel and partnership strategies to fuel that growth. It's a smart move, especially when software vendors are under a magnifying glass with tool purchases.
Hold onto your calculators, and let's crunch some numbers! Your company's unit economics are more than just efficiency metrics; they're a clear lens into the sustainability of your growth. Consider the LTV/CAC ratio — this indicator helps you gauge the return you can expect from acquiring a customer over their lifetime. If it's above 3, that's great, but hitting over 6? That calls for a celebration!
Turn sign-ups into insights, and insights into action! Does your marketing attribution data answer these questions?
- How did visitors arrive at the site?
- What attracted them to the site?
- What converted them?
If not, I've got you covered. Here are three takeaways on how to use marketing attribution data to drive key acquisition metrics for a PLG Motion.
Leverage data to design your attribution framework.
By implementing the three-part attribution framework, your company can determine which marketing channels and content types are driving the most conversions.
Focus on content optimization.
Monitor the performance of different content types (blogs, webinars, templates, etc.) and adjust them based on their conversion rates.
Gain full coverage of your user journey.
Understanding the complete journey of a user — from their entry point, to what attracted them, to what finally converted them — can offer insights for improving the user experience.
Ever wondered how some marketing campaigns just nail it every time? Let's break it down with some real success stories — consider Adobe's background remover or Zendesk's quirky alternative rock band campaign. The secret? It is simpler than you think.
It starts with finding the sweet spot to address high-demand needs with your tools or content. Adobe and Zendesk nailed this; they tapped into active searches, delivering near-irresistible tools and content.
Trends, trends, and… you guessed it, more trends! Email marketing is far from dead, and evolving your strategy is the key to staying relevant. This article explores the must-know email marketing trends of 2023. Here are two that stand out from the list.
1) Embrace Hyper-Personalization. Personalize emails by using the recipient's name, preferences, and past behavior. 2) Adopt Drip Marketing. Ditch the mass broadcasts and instead focus on sending bite-sized, relevant content over a period of time.
It's not every day that Dave Kellog shouts you out. And today is not that day for us. But here's a curated list of Dave's favorite PLG resources. From Kyle Poyar to Leah Tharin, Dave gives a rundown of the sources he's used for his PLG research.
On that note, here's a snippet of what Dave recommends for PLG strategies – instead of following the crowd or caving to external pressures, SaaS companies should adopt PLG strategies only if they align with their business model and they believe it can truly benefit their enterprise.
Like the age-old adage…’it’s not the car, it’s the driver,’ the same can be said for the PLG model you choose. There are countless examples of SaaS companies using different models. But the specific PLG strategy you choose doesn't matter as much as how you structure it. Let me explain.
A successful product-led model solves a meaningful problem for your users, helping them realize value quickly. To do that, your users must also be exposed to your product’s unique differentiator. In this article, discover the step-by-step guide on how to build a world-class PLG strategy that fits your business goals.
Is your book of business in need of a sales navigator? This article offers a detailed guide on using LinkedIn Sales Navigator to improve your sales prospecting workflow. Here's a quick tip...
Focus on the accounts you want to target by using data from your CRM. Then, discover which prospects you have connections with using the Relationship Explorer, and send them an invite!
A webinar hosted by Salesloft discussed the challenges of the modern sales process and provided actionable insights on prioritizing sales workflows. A core theme was achieving predictable sales success.
To achieve a predictable funnel, break it down into a four-step approach – excellent prospecting, effective pipeline and deal management, continuous analysis of what's working, and cultivating a culture of excellence.
Not another VC breakdown of Klaviyo’s S1 filing…I know, I know, but I’ll save you the hassle of combing through the voiceover and jump right to the interesting stuff.
Here’s a quick recap of Klaviyo’s financials and an overview of the company’s growth strategy.
Metrics Overview
- ARR & Growth: $658.3M of implied ARR (quarterly revenue * 4), growing 51% YoY
- Retention: 119% net dollar retention and 88% gross dollar retention
- Profitability: $7.9M operating income in 1H 2023
- Cash Balance: $439.8M of cash on their balance sheet as of June 2023
Product-Led Growth
Klaviyo started with a product-led approach for SMBs and later matured into a multi-product outbound sales motion for mid-market and enterprise segments.
The key personas the company targets are the Chief Marketing Officer, Chief Customer Officer, and other functional marketing leaders.
Traditional Outbound Sales
Klaviyo's sales-led growth strategy has been extremely effective in landing larger customers - ($50K+ ARR) and closing them quickly (8-week sales cycle).
Furthermore, Klaviyo has managed to maintain high efficiency across the business with a reported CAC payback period of 14 months.
Strategic Partnerships
Klaviyo has strategic partnerships with App stores and marketplaces, most notably with Shopify
Almost 80% of Klaviyo's ARR at the end of 2022 came from customers who also use Shopify.
Writing great copy is both an art and a science – it demands creativity, expertise, and a deep understanding of your audience. But the best copy not only resonates with your audience, it inspires them to take action. This article walks through 12 copywriting examples from companies and the tactics they employed.
