From Solution to Growth
When it comes to developing a growth strategy I follow these four principles.
- Develop a solution
- Define personas
- Package the solution
- Distribute the solution
We all love a great idea. If an idea solves an issue in our lives, it could be worth a fortune.
My amazing idea could also be worthless if execution is not done properly. So, to increases the chances of making it, a good focus on growth strategy is not a luxury but a necessity.
I've seen many projects fail. There were obviously many reasons but some of these were very well connected to "forgetting" who the solution we developed was for. I am saying "forgetting" as thankfully most solutions start with a defined target audience. However when the focus carelessly shifts, the problems within growth begins to surface.
Rather than defining a typical marketing growth strategy -which is in many ways super limiting-, I do it differently. I start with the core element. All the way down to detecting/knowing the problem.
Consider this as it all starts with knowing ''the Why?''
Let's go!
Step1: Understanding the solution your product/service provides
In a nutshell, if you are already working on promoting & marketing a product that solves a problem for some people you should still be looking into what issue you are truly solving and how are you solving it. This is a bit like going back to basics.
At that stage I normally ask these questions to myself:
"What issue am I solving?"
"How does my solution work?"
"Why am I solving it?"
"Have I personally experience the issue and tried the solution myself?"
I need to answer YES to these all first. If I answered NO to one or more, I am going to resolve that first and make it a YES.
Step2: Define personas
Once you've thoroughly examined the core problem you're solving and why you're doing it, the next step in crafting your growth strategy is to define your target personas.
Before I dive into doing it, I would like to state that defining personas is not everybody's cuppa. Defined persona might not always work perfectly as it's very very hard to find a representative persona of your typical customer. That's why rather than narrowing it down with super niche categories, I would suggest finding a sweet spot and sticking to it.
What's personas?
Personas are fictional characters that represent the various segments of your audience. They help you better understand the people who will benefit from your solution and enable you to tailor your marketing efforts to reach them effectively.
Creating detailed personas involves diving deep into the characteristics, behaviours, and needs of your potential customers. Here's how to go about it:
- Demographics: Start by gathering information about your target audience's demographics, such as age, gender, location, income level, and education. This data provides a basic understanding of who your ideal customers are.
- Psychographics: Dig deeper into their psychographics, which include their interests, values, attitudes, and lifestyles. Understand what motivates them, what challenges they face, and what solutions they currently use (or don't use). This information helps you create messaging that resonates on a personal level.
- Goals and Pain Points: Identify the goals your personas aim to achieve and the pain points or challenges they encounter while trying to reach those goals. Your solution should directly address these pain points and help them achieve their objectives.
- Buying Behaviour: Explore their buying behaviour, such as where they research products, how they make purchasing decisions, and what factors influence them. Understanding their decision-making process is crucial for creating effective marketing strategies.
- Communication Preferences: Determine their preferred communication channels. Some personas may prefer email, while others are more active on social media or prefer in-person interactions. Tailor your messaging and distribution channels accordingly.
- User Stories: Create user stories or scenarios that illustrate how your personas would interact with your solution in their daily lives. This helps you visualize how your product or service fits into their routines.
- Name and Image: Give each persona a name and even a face (using stock photos or illustrations). This makes them feel more real and relatable to your team, helping everyone in your organization understand and empathize with your target audience.
- Segmentation: If your target audience is diverse, consider segmenting your personas into subgroups. Each subgroup may have unique characteristics and needs that require specialized marketing approaches.
- Feedback and Validation: Validate your personas by seeking feedback from your existing customers and conducting market research. Make adjustments as needed to ensure accuracy.
Defining personas is an ongoing process, and it's essential to keep them up-to-date as your business evolves and your audience changes. Personas serve as a compass for your marketing efforts, ensuring that you consistently deliver the right message to the right people, ultimately driving growth for your solution.
The core value you deliver and who receives it must be solid though. If you are finding yourself defining a persona who doesn't truly represent your actual buyer, think again.
Step 3: Package the Solution
Once you have a clear understanding of your target personas, it's time to package your solution in a way that resonates with them. Packaging goes beyond the physical appearance of your product; it encompasses how you present and deliver your solution to your audience. This will be done via various communication channels. At the end of the day, your packaging has to suit the way you want to deliver it. Here's how to effectively package your solution for delivery:
- Product Presentation: Ensure that your product or solution is presented in an appealing and user-friendly manner. This includes designing an intuitive user interface for software or ensuring that the packaging for physical products is visually appealing. Your packaging should align with your brand identity and appeal to the emotions and preferences of your target personas. If you don't understand your product well, presentation will 100% suck. So make sure you know what you are presenting.
- Messaging and Branding: Craft a compelling message that communicates the unique value of your solution. Your messaging should clearly address the problem you're solving, the benefits of your product, and why it's the best choice for your target audience. Consistent branding across all touchpoints, from your website to your social media profiles, helps build trust and recognition. Don't mix things up with messaging. Nobody wants to know how hard and complex your solution is. Leave those details for further enquiries.
- Customization: Tailor your solution to meet the specific needs and preferences of different personas. If your product or service has various features or options, highlight the ones that are most relevant to each persona. Personalization can greatly enhance the perceived value of your offering. This is one of the best parts of packaging. You put yourself in the shoes of potential buyers. Make sure you deliver the solution with the right angle.
- User Experience: Pay close attention to the overall user experience. Your solution should be easy to use, and any potential barriers or friction points should be minimized or eliminated. Conduct user testing and gather feedback to make improvements. At the end of the day, you might feel like you've done a fantastic job but if it's not working for the buyer, find out and fix it.
- Price and Packaging Options: Consider offering different pricing and packaging options to cater to different segments of your audience. Some customers may prefer a basic, cost-effective solution, while others may be willing to pay more for premium features. Pricing can ruin a perfect package and it's your call to provide feedback to the team to re-think pricing. You will know that your distribution is handicapped due to pricing which will help you influence a better approach.
- Content and Educational Resources: Create content that educates and guides your personas in using your solution effectively. This can include blog posts, video tutorials, webinars, or FAQs. Providing valuable resources not only enhances the user experience but also positions you as an authority in your industry. You can do a ton of repurposing here to truly leverage the value distribution.
- Feedback Loop: Establish a feedback loop with your customers to continually refine and improve your solution based on their input. Actively seek and listen to their suggestions, complaints, and reviews to make necessary adjustments. Data analytics software, questionnaires, social listening and more. You've got many options to choose from to build a strong feedback loop.
Remember that packaging your solution is an ongoing process. As your business and target audience evolve, so should your packaging strategy. Regularly revisit your personas and adjust your packaging and messaging to ensure they remain aligned with your audience's needs and preferences. By consistently refining how you present your solution, you can maintain a strong connection with your customers and drive sustainable growth.
Step 4: Distribute the Solution
Phew, this was a lot. Now we have packaging done and it's time to distribute to make a use of it!
Distributing your solution effectively is a critical aspect of your growth strategy. Even if you have a remarkable product or service, it won't achieve its full potential if it doesn't reach the right audience. At the end of the day, if people don't hear about it, you will feel quite lonely, right?
Here are key considerations for distributing your solution:
- Multi-Channel Approach: Embrace a multi-channel distribution strategy to reach your target personas where they spend their time. This could include online channels like your website, social media, email marketing, and search engine optimization (SEO), as well as offline channels such as events, trade shows, and partnerships.
- Digital Marketing: Leverage digital marketing techniques to expand your online presence. Invest in paid advertising campaigns, content marketing, and social media marketing. Create engaging and informative content that addresses the pain points and interests of your personas. Use data and analytics to refine your strategies and allocate resources effectively. Remember all the content we talked about in packaging?
- Search Engine Optimization (SEO): Optimize your online content to rank higher in search engine results pages (SERPs). Conduct keyword research and learn what would match search intent to understand what terms your personas are searching for and create content that aligns with those keywords. This will increase your visibility to potential customers actively seeking solutions. SEO is a complex topic that is widely researched and some of the practices might sound outdated by the time you do it. That being said, if you improve your content and delivery of it and be on the customer side to make sure you are truly helping them, you will probably get some of the best practices required for a good SEO right.
- Social Media Marketing: Identify the social media platforms where your personas are most active and tailor your content accordingly. Engage with your audience through comments, direct messages, and interactive posts. Utilize paid advertising on platforms like Facebook, Instagram, Twitter, and LinkedIn to target specific demographics. If you have the capacity, go multi platform. Otherwise pick one and do it right. Then jump onto the next one to simultaneously manage both places.
- Email Marketing: Build and nurture an email list of interested prospects and customers. Send personalized, value-driven emails that inform, educate, and occasionally promote your solution. Automation tools can help you segment your list and send relevant content to different personas. Do this as soon as you have something to share via email. A growing email newsletter list will be a killer channel for the business in the long run.
- Partnerships and Alliances: Collaborate with complementary businesses or influencers in your industry. Partnerships can help you tap into a larger audience and gain credibility. For instance, if you offer a fitness app, partnering with fitness influencers for reviews and promotions can be highly effective.
- Referral Programs: Encourage your existing customers to refer others to your solution. Implement referral programs that offer rewards or discounts to customers who refer new clients. Word-of-mouth recommendations are often highly trusted.
- Content Syndication: Share your content with relevant publications or websites in your industry. Guest posting or syndicating your content can expand your reach and position you as an industry expert.
- Analytics and Measurement: Continuously monitor the performance of your distribution channels. Use tools like Google Analytics, social media insights, and email marketing analytics to track key metrics such as website traffic, conversion rates, click-through rates, and ROI. This data will guide adjustments to your distribution strategy.
- A/B Testing: Experiment with different distribution methods and messaging to identify what resonates best with your target personas. A/B testing allows you to make data-driven decisions and refine your approach for optimal results.
Remember that distribution is an ongoing process, and it may require adjustments as your business evolves and your personas' preferences change. Regularly analyse the effectiveness of your distribution channels and adapt to new trends and technologies to ensure your solution continues to reach its intended audience and drive growth.
Don't get carried away too much trying to push the wrong channel when it's not working efficiently. One of the key issues we marketers face is that we try to grow every number possible. On paper this looks like a no brainer but the problem builds up when the valuable time we have vanishes for the channels that don't return a decent result. Sometimes, it is better to say no.
This post is pretty much a good summary of how I build my growth strategy for a product or a service. Applications will vary from business to business. I hope it helps and as always feel free to connect me on Linkedin and say hi.