🚀 On Branding, Marketplaces & Digital Commerce — #5
Hi there! 👋
The summer is upon us so what better time to fill up the reading list?
This issue includes reads on onboarding for growth, a 30 year tech outlook, a brilliant guest post from growth star 🌟 Hannah Meiton at Soundtrack Your Brand and my report on venture funding in Sweden — hot off the press.
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Why Onboarding is the Most Crucial Part of Your Growth Journey — Casey Winters, Greylock
When people talk about growth, they usually assume the discussion is about getting more people to your product. When we really dig into growth problems, we often see that enough people are actually coming to the products. The real growth problems start when people land…and leave.
Jack Ma: World Leaders Must Make ‘Hard Choices’ or the Next 30 Years Will be Painful- Anita Balakrishnan, CNBC
Alibaba founder Jack Ma is simultaneously bullish and pessimistic about technological advancements, noting that: “The first technology revolution caused World War I. The second technology revolution caused World War II. This is the third technology revolution.”
Facebook Has New Ad Products for Retailers — Bethany Biron, Glossy
Positioning itself as the “new storefront for product discovery” Facebook introduced a series of new formats so retailers can cram more information into ads, basically turning them into catalogs. It’s also launching household targeting campaigns that allow marketers to reach entire families, rather than just individuals.
How to Harness Network Effects to Grow Your Product — Tai Rattigan, Amplitude
Ethernet ports. Before wireless, every computer had one. An electrical engineer named Robert Metcalfe co-invented the ethernet port in the 1970’s. It became the ubiquitous way to connect computers and form a network to transfer data. It was here that Metcalfe’s Law was born. Metcalfe noted the growing value of a network as connections increased. Today, social networks like Facebook use Metcalfe’s Law to put a value on their growing networks.
Swedish tech startups have raised venture capital at an increasingly high pace over the last years, and the first half of 2017 was no different. In my bi-annual report I look at the latest trends, figures and facts from the Swedish tech scene.
In this edition we meet Hannah Meiton, Head of Growth at the world’s fastest growing background music company Soundtrack Your Brand 🎶 (one of our brilliant portfolio companies, more on their story here) and previously VP Sales at iZettle. Hannah shares her thoughts on how to successfully work with lead generation in online B2B sales (the full post can also be found here):
How to Succeed With B2B Lead Generation
B2B lead generation works quite differently than B2C lead gen and requires a different approach and mindset that is more precise, detailed and thought-through. The methodology you should take obviously depends on the type of product or service that you are selling (and the associated sales cycle), but here are some of the things we have found that works at Soundtrack Your Brand:
1. Know your Target Audience
You need to have a set plan to whom you want to talk to, whether these are the decision makers of your product or the end-users. This will allow you to build your target audience to get your message in front of the right people. Start by looking at your customer base and speak with your sales team to find out whom the correct persona(s) are.
2. Nail your elevator pitch
The CTA in your B2B lead gen approach should probably not be “Buy Now” but rather focus on adding value through “Learn/See how”. Your key message will differ per persona, and there is no simple way of finding out the right message to your key target. It just requires lots and lots of testing à la traditional growth engineering. Different CTAs might be “register for an event/webinar”, “download a white-paper”, or “attend a product demo”.
3. Create relevant content and package it beautifully
Regardless of whom your B2B audience is, you’re trying to steal attention from very busy people that don’t have a lot of time. So make sure that the message you are trying to get across adds value to them.
We have found that tips & tricks work well, educational white-papers that are packaged in ways that are easy to read or short videos. If you can explain a complex or boring topic in a comprehensive summary, this hits the bullseye. And don’t forget to include graphics or images, a text-only piece is oh-so-boring to read. For an example, have a look at how we transformed a scientific research paper into an easy-on-the-eye report here.
4. Nurture your leads
Once you have grabbed the attention from your leads, continue to serve them valuable content to keep their interest and to build up their keenness towards your product/service.
During the nurturing journey, you’ll want to segment out the largest and hottest leads to your sales team. This means 2 things. Firstly, your sales team do not have to spend expensive and unnecessary time chasing lukewarm leads. Secondly, by putting through all your leads through a nurturing feed, you can shorten your sales cycle. So when your sales team initiates the conversation, a lot of education has already taken place with the lead.
The ideal drip feed is subject to even more testing, where useful tools such as Intercom or Act-On can help you segment users based on behavior to provide them ideally with a unique customer journey — ideally leading up to a trial of your product/service.
Thanks for reading! If you appreciate this content, please share or forward to a friend. As always, feedback is highly appreciated!
Have a great summer! 🙌☀️