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Hur man utnyttjar AI i marknadsföring

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Hur man utnyttjar AI i marknadsföring

Welcome to the future of marketing, where artificial intelligence and human expertise come together like never before.

Meet ChatGPT, the revolutionary tool that is changing the game.

With ChatGPT, you’ll finally be able to harness the power of AI to make informed, data-driven decisions about meeting your audience’s needs.

But ChatGPT is more than just a tool – it’s also a way of thinking about how to balance human creativity with data-driven technology.

In this article, we’ll explore the many benefits of using ChatGPT in marketing, as well as some of the challenges and pitfalls to watch out for.

What Can ChapGPT Do?

So what can ChatGPT do for you? For starters, it can help you generate ideas and content. Imagine producing more and higher-quality work in less time – that’s the power of ChatGPT.

It can also streamline market research and provide a solid foundation of audience insights to inform your marketing strategy.

And by condensing and analyzing large volumes of data, ChatGPT can save you time and effort in understanding customer feedback and social media conversations.

All of these capabilities can help you make better, bolder, and quicker decisions about how to meet your audience’s needs.

Example Of ChatGPT Prompts For Ideas

To illustrate the power of ChatGPT, let’s look at an example of it in action.

PROMPT: I’m working with an electronic music nightclub. They want to attract young audiences who don’t go clubbing often. Please list some nightclub-related needs these audiences have.

For each need, suggest two ways I could position the club and market it to this audience in a way that is very focused on meeting the need. Please give each need and marketing suggestion a catchy title and an emoji.

ChatGPT’s response:

Screenshot from ChatGPT, January 16, 2023
  1. “Fun and Safe Environment 🎉🔒”
    • Position the club as a safe and inclusive space where everyone is welcome to have a good time.
    • Market the club’s strict security measures and zero-tolerance policy for any form of harassment or discrimination.
  2. “Music Variety 🎵🔥”
    • Position the club as a place where you can experience a diverse range of electronic music styles, from house to techno to drum and bass.
    • Market the club’s upcoming events and guest DJs to showcase the variety of music that will be played.
  3. “Affordable and Convenient 💰🚪”
    • Position the club as a budget-friendly option for a night out with reasonable cover charges and drink prices.
    • Market the club’s location, proximity to public transportation and parking options.
  4. “Cool and Trendy 🕶️🎉”
    • Position the club as a place to see and be seen, with a stylish atmosphere and an exciting crowd.
    • Market the club’s unique design and decor, as well as its reputation as a popular destination for young people.
  5. “A Great Social Experience 🍻💃”
    • Position the club as a place to make new friends, meet new people and have a good time.
    • Market the club’s events and promotions that encourage socializing and mingling, such as group discounts and ladies’ nights.

It’s incredible, eh? With a single prompt, for free and in a few seconds, we’ve got a useful overview of some audience needs we could market to and some useful suggestions about how we could market to them.

Of course, you’ll need to check these results against your own audience insights, then refine and expand on your query, edit the response, add additional ideas and then workshop the results. Once you’ve been through that process, you can select the most relevant marketing strategies for this particular situation. ChatGPT provides an excellent starting point.

But ChatGPT is not without its challenges. For one thing, it may not always produce useful results on the first try.

It’s important to approach ChatGPT with a sense of experimentation and be willing to iterate on your prompts to get the best results.

It’s also important to remember that ChatGPT is not a replacement for human oversight – it’s a tool to be used with human expertise and creativity. And finally, there is a risk of over-reliance on automation, so it’s important to strike a balance between using ChatGPT and maintaining a human touch.

Despite these challenges, the benefits of using ChatGPT in marketing are clear.

It can help you generate more and better ideas and content, streamline market research, and analyze data more efficiently.

And by using ChatGPT as part of a balanced approach that combines human creativity with data-driven technology, you can optimize your marketing efforts and create better brands, products, and experiences for your audience.

The Benefits Of Using ChatGPT

Here are just a few of the benefits you can expect from using ChatGPT in your marketing efforts:

Generating Ideas And Content At Scale

ChatGPT is a powerful tool for generating ideas and content at an unprecedented scale. Whether you’re looking to produce more work in less time or simply raise the quality of your output, ChatGPT can help.

By using specific prompts and focusing on the tasks that ChatGPT is particularly good at, you can use this tool to generate ideas and content that will resonate with your audience.

Streamlining Market Research And Providing Audience Insights

ChatGPT can also help you streamline your market research efforts and provide a solid foundation of audience insights to inform your marketing strategy.

Whether you’re looking to understand a specific audience or explore a new market, ChatGPT can help you quickly gather and synthesize a wide range of data to inform your decisions.

Condensing And Analyzing Large Volumes Of Data

Finally, ChatGPT can save you time and effort in understanding customer feedback and social media conversations.

By condensing and analyzing large volumes of text-based data, ChatGPT can help you quickly gain insights into what your audience is saying about your brand and identify trends and patterns that may be useful for your marketing efforts.

Challenges And Pitfalls When Using ChatGPT

While ChatGPT is a powerful tool for marketers, it’s important to remember that it’s not a replacement for human expertise and creativity. Here are a few challenges and pitfalls to watch out for when using ChatGPT:

The Need For Iteration And Specificity

One of the biggest challenges of using ChatGPT is that it may not always produce useful results on the first try.

This is because ChatGPT is only as good as the prompts given, so it’s important to approach it with a sense of experimentation and be willing to iterate on your prompts to get the best results.

It’s also important to be specific with your prompts – a generic prompt will often lead to a generic response.

The Need For Human Oversight

Another challenge of using ChatGPT is the risk of over-reliance on automation.

While ChatGPT can be a powerful tool for generating ideas and content, it’s important to remember that it’s not a replacement for human expertise and creativity.

It’s important to balance using ChatGPT and maintaining a human touch in your marketing efforts.

The Risk Of Mistakes And Foolishness

Finally, it’s important to remember that ChatGPT is imperfect and may make mistakes or produce nonsensical responses, just like humans.

While these errors can be frustrating, it’s important to remember that they are simply a part of the process of using ChatGPT. You’ll quickly get good at spotting and fixing them.

Best Practices For Chat GPT

So, what can you do to make the most of ChatGPT in your marketing efforts? Here are a few tips to keep in mind:

Experiment With Different Prompts

One of the key ways to get the most out of ChatGPT is to be willing to experiment with different prompts. This may mean trying different approaches or focusing on different tasks.

The more you experiment with ChatGPT, the better you’ll understand its capabilities and limitations, and the more you’ll be able to get out of it.

Be Specific With Your Prompts

As mentioned earlier, it’s important to be specific with your prompts to get the best results from ChatGPT. This means communicating your requests clearly and concisely and avoiding ambiguous or vague language. The more specific you are with your prompts, the more useful the responses you receive will be.

Use ChatGPT In Conjunction With Other Tools And Techniques

Another way to get the most out of ChatGPT is by using other tools and techniques.

This may mean using it to complement market research, generate ideas for content marketing, or analyze social media conversations. By using ChatGPT as part of a holistic marketing strategy, you’ll be able to get the most out of this powerful tool.

Following these tips and keeping the challenges and pitfalls of using ChatGPT in mind, you can use this tool to improve your marketing efforts and better understand your audience.

Whether you’re just starting out in the field or are a seasoned marketing veteran, ChatGPT is a powerful resource that can help you get ahead in the game.

Slutsats

In conclusion, ChatGPT is a powerful tool that has the potential to revolutionize the way we approach marketing. By using it to generate ideas and content, analyze data, and gain insights into our audience, we can make better, bolder, and quicker decisions about how to meet their needs.

While there are challenges and pitfalls to using ChatGPT, we can make the most of this amazing tool and stay ahead of the competition by being aware of these and following best practices.

Our biggest lesson? Keep learning and experimenting.

As with any new technology, it’s important to keep learning and experimenting with ChatGPT to get the most out of it.

The more you learn and experiment with ChatGPT, the more you’ll be able to use it to improve your marketing efforts.

Fler resurser:


Featured Image: TippaPatt/Shutterstock



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5 Ways Social Media Pros Are Safely Using AI Right Now

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5 Ways Social Media Pros Are Safely Using AI Right Now

This post was sponsored by Iconosquare. The opinions expressed in this article are the sponsor’s own.

Does social media management sometimes feel like 15 jobs rolled into one?

We know, the business of social media involves a lot of plate-spinning.

There’s strategy development, content creation, data analysis, copywriting, customer service, community engagement, client communications, trend forecasting, graphic design, influencer management, reporting, and on and on it goes.

What if some of your most repetitive social media tasks could be handled by AI?

Yes, you can give yourself more time to create even more powerful social strategies by allowing AI to perform tasks like scheduling posts, analyzing content, and writing captions.

With AI-powered content creation tools, you can spend more of your time working and thinking like a top social media manager.

So, let’s take a closer look at five ways AI-generated captions will change the game for social media managers.

And don’t worry, AI won’t replace your social media job.

1. Ideate Social Media Post Content Faster (And Easier)

If writer’s block tends to take up a large portion of your campaign execution time, this tip is for you.

And you’re certainly not alone – this is a common problem for tons of social media managers who are juggling multiple projects. Coming up with creative, engaging captions on the fly isn’t always easy.

With the help of AI, a month’s worth of content can be captioned and scheduled in a fraction of the time. Even if a caption isn’t 100% perfect the first time, all it requires is a quick edit instead of hours of creating the perfect message.

Compare this to the lengthy process of ideating, drafting, rewriting, and editing captions, and it’s easy to see how beneficial a social media AI caption generator can be.

2. Get Better Engagement With High-Conversion Algorithms

Many AI caption generators are programmed to create captions specifically for conversion.

They know how to:

This is music to your ears if you’ve been striving to increase engagement for your clients – particularly if they’re stuck in a creative rut or don’t enjoy the writing process.

3. Put Out More Social Media Content

Not only does caption writing get easier and faster with social media AI – it has a positive effect on other content, too.

Time previously spent staring at a blank screen trying to find the right words can now be spent on curating, creating, and editing other forms of content – for example, YouTube videos, TikToks, Reels, podcasts, and carousels.

4. Create Social Media Content In 70+ Languages

From Chinese to Persian, there are more than 70 languages available to choose from in Iconosquare’s AI caption generator.

This enables you to break through language barriers and reach new audiences for your clients without the need to invest in additional resources.

5. Gain More Time For Higher ROI Tasks

Imagine what you could do with the time you’ve saved not writing captions from scratch.

That’s the beauty of AI.

Social media AI handles time-consuming, low-level tasks and frees you up to focus on work that delivers meaningful results – not only for your clients but for your business, too.

A Step-By-Step Guide To Creating AI-Generated Social Media Captions

For this example, we’ll use social media AI for an imaginary interior renovation brand.

Step 1: Enter Your Social Post Topic Or Subject

Start by typing in the subject of your social media post.

In this case, we’ll use “kitchen renovation,” though we could go even more specific with this, e.g. “Kitchen renovation completed in 3 weeks.”

Step 2: Add Your Brand Name For Maximum Exposure

The next step is to introduce your brand to the machine learning tool.

In this example, we’ll use the fake brand name “Kitchenstar.”

However, if you want captions that are less branded and more focused on the content of the image, all you have to do is leave “Brand” blank.

Step 3: Select Your Industry For Accurate Keyword Inclusion

For this example, we’ll enter “interiors” as our industry.

However, if you want captions that are less industry-specific and more focused on the content of the image, all you have to do is leave “Industry” blank.

Image created by Iconosquare, March 2023

Step 4: Get High-Conversion Social Media Captions From AI

The three captions Iconosquare’s AI caption generator creates are upbeat and engaging.

Each generated post caption has a good hook:

  1. Renovating your kitchen has never been easier!
  2. A fresh start for your kitchen!
  3. Our newly renovated kitchen using #kitchenstar products is something to write home
    about!

And each one gets to the point without unnecessary fluff.

5 Ways Social Media Pros Are Safely Using AI Right NowImage created by Iconosquare, March 2023

Step 5: Automatically Get Generated High-Conversion Hashtags

The first caption has a great hook and high-conversion hashtag suggestions.

Instead of broad, overused hashtags like #interiors or #kitchen, the AI caption generator has proposed more specific hashtags like #makingroomformemories.

Step 6: Make Any Manual Edits Necessary

The second caption is great and requires very little editing. I could add some more specific detail about what the renovation process entailed, otherwise this caption is good to go.

5 Ways Social Media Pros Are Safely Using AI Right NowImage created by Iconosquare, March 2023

 

5 Ways Social Media Pros Are Safely Using AI Right NowImage created by Iconosquare, March 2023

The third caption has that specificity – “quartz countertops, sleek countertops, and energy-efficient appliances.”

Even if these aren’t exactly right, you now have a template to use to write your caption without having to think about it.

If you’re not totally happy with the first three options, you can generate three more.

5 Ways Social Media Pros Are Safely Using AI Right NowImage created by Iconosquare, March 2023

As for specific calls-to-action (CTAs) like “comment below” or “tag a friend,” you can easily add these to the finished AI-generated captions by selecting one of your “Saved captions.”

Why AI-Generated Content Won’t Make Your Job Redundant

If you’re worried about being replaced by AI, don’t worry.

Despite what you may read online, AI isn’t about to make your job obsolete.

Instead, AI is a great collaborator.

It automates repetitive tasks and sifts through millions of data points to produce actionable recommendations.

This frees up your time and empowers you and your team to create better content and campaigns that deliver their client results.

AI-powered social media tools unlock your potential.

Rather than wasting time and expertise on repetitive tasks like manually posting Rullar, you can focus on areas you’re passionate about and uniquely qualified to handle.

Even applications that aid creativity – like Iconosquare’s AI Captions – aren’t cause for concern about the future of your job.

Features like these only enhance and accelerate your creativity.

Again, AI social media tools are perfect for marketers who are juggling multiple clients and complex campaigns.

AI tools can’t replace the empathy, perspective, and storytelling that a human brings to marketing. And this is what it takes to truly connect with customers.

So, don’t worry about AI taking over the world – instead see these applications for what they are: an opportunity to make you an even better social media manager.

Want to try out Iconosquare’s AI caption generator for yourself? You can here!

Say Goodbye To Writer’s Block & Hello To AI-Generated Captions

If you’re ready to harness the power of AI-human collaboration, you have to try Iconosquare’s new AI caption generator.

It’s the perfect tool for generating engaging captions (for LinkedIn, Twitter, and Instagram) that are relevant to whichever brand you’re working on, whether you’re short of time or in need of a creative boost.

Just write out the subject of your post, brand name, and industry, and Iconosquare will generate a list of potential captions. You then pick your favorite and add it to your post in one click.


Bildkrediter

Featured Image: Image by Iconosquare. Used with permission.



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9 SaaS Marketing Strategies for Sustainable Growth

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9 SaaS Marketing Strategies for Sustainable Growth

Sustainable growth for a SaaS company is about creating long-term value that is a) profitable and b) able to be maintained over time without compromising the brand’s reputation. In other words, by building growth, you’re building a foundation for more growth as you go.

We’ll talk about nine marketing strategies that are perfect for achieving and maintaining sustainable growth.

1. Build for product-market fit 

Product-market fit (PMF) is when a business has confirmed signals that its product can satisfy an existing demand in a market with high potential.

The usual sign of achieving PMF is when people are willing to buy the product (even if it’s not perfect yet), actively use it, and recommend it to others.

This is a sustainable strategy because it allows you to make sure you’re building something meaningful that will actually get paying users.

PMF automatically makes your messaging more effective. You’re promoting a product people want. And you already know who you’re talking to, so your marketing dollars are better spent. 

Conversely, if none of your marketing efforts seem to work, the problem may be the product and not how creative or well funded your campaigns are. 

You can find SaaS companies with product-market fit all around. These will be companies that still offer the same kind of products that made them profitable: Slack, Atlassian, Shopify, etc. 

How it works

The general idea is to ship a Minimum Viable Product (MVP) and iterate on it based on real user input until you see that people actively use it and recommend it. 

There are five steps in the process: 

  1. Formulate the value hypothesis: Why is a customer likely to buy your product? 
  2. Specify the features of your MVP: The right quantity and quality of features needed to verify the value hypothesis. 
  3. Build your MVP: There are many ways to present your product to your audience; you don’t necessarily need to develop a fully functional product.
  4. Test the MVP with real users: In other words, get feedback. 
  5. Learn from your users and iterate: Some ideas will need more work, while some are probably destined to fail. Gather your data and make the decision. 

When you achieve PMF, it will be time to scale your company and marketing efforts. 

2. Offer free trials or free tools 

This strategy doesn’t need an introduction. We’ve all used product trials and free tools. That said, this strategy can be looked at from different angles. What’s important from a marketing perspective are these three benefits:

  1. Reduced friction – This means there are fewer objections to trying your product. 
  2. Time to experience the value of the product and get hooked – Reading about a product on a landing page is not the same as experiencing it. Your potential customers will likely expect the possibility to put their hands on the product before they buy. 
  3. Direct marketing channel – You can ask users to sign up for a newsletter or send them messages concerning the product. 

For instance, HubSpot carves out parts of the platform for free usage (e.g., CRM, CMS). It does this, as it explains, to increase the force of its marketing flywheel. Or in other words, to propel its entire business model. 

Article about why HubSpot offers free products

How it works

Start by weighing the pros and cons of free and freemium products. 

Pros Cons
Less friction with getting people to use your product. Harder to manage expectations. People may expect to get more things for free.
Bigger user base. More server load and possibly more queries to support.
Works well with growth loops (more on that later). Offering something for free may reduce its perceived value.
Direct marketing channel to signed-up users (content distribution and upselling).
More feedback.

Getting users in front of free products is only part of the job. The harder part is getting them to upgrade. 

First off, you need to set the right expectations—you won’t convert all of them. For the ones that are “convertible,” here are some tactics you can use:

  • Never stop improving customer satisfaction. What your product does and how it does it is absolutely fundamental.
  • Educate users about the product. Use blog posts, videos, or quick in-app tips. 
  • Offer limited access to all newly developed features. For instance, you can allow everyone to use each new feature for five days for free. 
  • Provide excellent customer service. 
  • Offer flexible payment options. 

When looking for ideas for free products that will generate traffic, try a keyword research tool like Ahrefs’ Keywords Explorer. You can:

  1. Enter features of your product.
  2. Go to the Matching terms report.
  3. Använd Include filter with keyword modifiers pointing to tools, for example: “tool, check, checker, finder, analyzer, builder, free.” Set to “Any word.”
Keyword research for free tool ideas

To illustrate, our free website traffic checker tool generates an estimated 33.4K organic visits each month from ranking for keywords like “website traffic checker” or even “website traffic.”

Organic traffic to a free tool
Organic keywords captured by a free tool

3. Leverage SEO in content marketing

Content marketing is the process of creating and distributing content to attract and retain customers. 

If you add search engine optimization to the equation, you get a framework for creating content relevant to your business och the reader. You also get a built-in distribution engine that generates almost free traffic. 

SEO is one of the most sustainable marketing strategies because it generates passive traffic that accumulates over time and can generate traffic even years after. To put it differently, SEO results are continuous—and you don’t get that with all marketing strategies. 

SEO-resultat är kontinuerliga, medan PPC-resultat kan slås på och av

Our blog is an example of such a strategy. It brings an estimated 628K organic visits each month, worth around $860K in ad money, through regular publishing of SEO content. 

Organisk trafik till Ahrefs' blogg

How it works

SEO is generally worth it if at least one of these is true:

  1. People are searching for what you sell or do.
  2. People are searching for solutions to problems your business helps to solve. 
  3. You can give a better solution than the conventional one people are searching for.

In any case, the core of this strategy is to find relevant keywords with traffic potential. The right keywords can connect you with your target audience and create an opportunity to pitch your product. And if you’re not ranking for these keywords, your competitors will. 

The process of finding the right keywords for your website is called sökordsforskning. Here’s a quick rundown: 

  1. Go to Keywords Explorer
  2. Enter industry-related seed keywords, e.g., “seo, digital marketing, keyword, backlink”
  3. See keyword ideas in the Matching terms report 
  4. Use the filters to refine results if needed (e.g., look only for low-competition keywords or keywords with a certain minimum traffic potential)
Sökordsforskning, en snabb sammanfattning

Other elements of the SEO process are building a sound technical foundation, creating optimized content, and building links. You can learn how to start with the entire process in our beginner’s guide to SEO

4. Build a community around the product 

A user community can help your SaaS product in a number of ways:

  • It helps to make the product better through feedback. 
  • It helps to spread word of mouth about the product even if the community is exclusive. 
  • It offers added value to the user—they can learn from others in the community and network. 

Building a user community is a sustainable strategy because it leverages existing customers and can help facilitate long-term engagement with the product. 

A famous example of a community with a price tag on it is Behance, acquired by Adobe for $150M. It generates over 10M search visits each month and allows the parent company to bring the design community very close to its product. 

Organisk trafik till behance.net
Adobe's varumärke på Behance går inte att missa
Adobe’s branding on Behance is unmissable.

How it works 

In a nutshell: create a place where people can meet online, build a constant presence there, and animate the community (feature launches, discussions, polls, etc.).

For example, at Ahrefs, we offer access to our exclusive community, Ahrefs Insider, with every subscription. All we needed to start it was a regular community feature on Facebook. Now it gathers a total of 17K registered users. 

Ahrefs Insider pitch

5. Go after earned media 

Earned media is publicity gained organically from promotional efforts, like press coverage, social media mentions, and search engine rankings.

Earned media is a sustainable form of marketing for these reasons: 

  • It’s cheaper in the long run compared to advertising (sometimes even free). 
  • It’s long lasting.
  • It earns your brand awareness and credibility. 

Here’s an example that checks all three boxes. A while ago, we published a data study showing that 90.63% of content gets no traffic from Google. This article was mentioned by multiple reputable websites, including NY Times, Forbes, and main SEO blogs. All of that coverage gave us free brand exposure and backlinks. 

Ahrefs nämner i en Forbes-artikel

How it works 

Earned traffic covers a wide range of marketing tactics, so there’s no silver bullet here. Besides SEO content, which we already touched on, the tactics that are repeatable and will probably have the most impact over time are:

When vetting which site to pitch your product, story, or quote to, you can use Ahrefs’ SEO Toolbar. For instance, say you’re looking for websites that review SaaS products like yours. Just search for your competitors’ reviews in Google and look at the metrics to see which sites can send you stronger links and considerable traffic.

SEO-mått, via Ahrefs' SEO Toolbar
Sites with low DR are unlikely to boost your SEO. This site has 0 organic traffic, so you probably won’t be getting much referral traffic from it.

6. Use multi-channel marketing

Multi-channel marketing is basically about interacting with your audience using different marketing channels: social media, search, podcasts, email, etc.

Using multi-channel marketing will have the following advantages:

  • A broader reach.
  • Channels can work to support each other. For example, social media can help you to get links to websites and boost your SEO.
  • You create convenience for your audience to interact with the brand. 
  • There’s less risk, thanks to diversification. 

The idea behind this strategy is that your audience is likely scattered across various websites and social media platforms. So even if one marketing channel works exceptionally well, you probably shouldn’t drop all other channels. 

How it works

Here are some ideas on how to find the best marketing channels for your business: 

  • You can see where your competitors promote. 
  • Do keyword research to estimate organic traffic for relevant keywords (we discussed it in point #3).
  • Use audience research tools like SparkToro. Below, you can see a screenshot showing what kind of data about your audience the tool can provide.
Exempeldata från SparkToro

Furthermore, using multiple marketing channels allows you to distribute content more effectively. You can: 

  • Repurpose content into other formats and platforms.
  • Build an audience to distribute content directly (for example, grow your email list).
  • Promote the content via ads or sponsored newsletters.
  • Syndicate articles to other websites. 

Here’s an example. Our thoughts on using ChatGPT for SEO were used in a YouTube video, on our blog, and on social media. While there may be some overlap between these audiences, they are definitely not identical. So by using the multi-channel approach, we were able to get more eyes on our content. 

Artikelhuvud från Ahrefs' blogg

7. Develop a growth loop 

A growth loop is a system where new user input creates an output that drives product demand. 

To illustrate, here’s how Notion used a product feature to activate and retain users (courtesy of Foundation). 

Notion's tillväxtslinga

Growth loops are a stellar example of a sustainable marketing strategy because the whole model creates a loop. The more you grow, the more users you get, and so the more you grow. 

Furthermore, this strategy gives your marketing budget more “power” since each dollar invested in acquiring a user is also invested in the users generated via the loop. 

How it works

The simplest (but super effective) form of a growth loop is making your product outstanding. When your customers love the product and recommend it to others, you start growing on word of mouth—you acquire users you spent nothing to get. 

Hur mun till mun fungerar
Example: A user subscribing to Ahrefs based on a recommendation from a friend.

In some types of products, it’s possible to go beyond word of mouth and create a typical growth loop. It all depends on your product and your creativity. Here are a couple of levers you can pull:

  • Make it easier for users to share their work publicly like Adobe with Behance 
  • Devise a referral program like Dropbox
  • Create a marketplace for apps like Atlassian or WordPress 
  • Release an API like OpenAI
  • Encourage user-generated content like G2 
  • Allow for free product usage after creating a free account like Figma or Loom 
  • Allow users to invite others to their workspaces like Slack or Miro 

8. Offer more to expand revenue

Revenue expansion is the additional revenue you get from your existing customers through upselling, cross-selling, and add-ons. 

It’s a strategy that has proven to work for decades in multiple industries. For instance, this is why when you order a regular pizza, you’re offered to get a bigger one, get a drink with it, or add some extra ingredients. 

And here’s an example from the SaaS world. When subscribing to HubSpot, you’re offered to upgrade by increasing the limit of contacts and also to purchase add-ons.

HubSpot erbjuder merförsäljning och tillägg

According to a correlation study published by ProfitWell, SaaS subscription-based companies should aim for 20% to 30% expansion revenue in their overall revenue in order to succeed. 

Expansionsintäktsstudie från ProfitWell

You’ve probably heard that it’s better to retain a customer than to get a new one. That old business adage still holds true. According to this 2016 survey, SaaS companies spend an average of $1.16 to earn $1 on new annual contract value but only $0.27 on upsells and $0.20 on plan expansions. 

How it works

If you offer additional value to your satisfied customers, there’s a good chance those customers will be happy to buy more from you. Here are some ideas for creating value for revenue expansion:

  • Offer premium features on higher plans
  • Offer a per-seat model to cater to both small and large companies
  • Add a custom/enterprise tier for the most demanding customers
  • Offer priority support

For example, when design tool UXPin developed a way to design with production-ready components, it decided to offer that as a premium version of the product with an almost 80% higher price tag than the UXPin Standard version. 

Att uppnå expansionsintäkter genom att erbjuda en premiumprodukt

But how to know when and if your customers are willing to expand? Here are some signals: 

  • Customers often reach their usage limit. 
  • Customers express interest in additional features or higher tiers.
  • Your competitors offer a successful expansion system. 
  • You’ve got an awesome idea for a premium feature.

9. Do growth marketing (not growth hacking)

Growth marketing is the process of increasing a company’s revenue by applying an experiment-driven and integrated approach to all stages of attracting customers.

To understand this type of marketing better, let’s compare it to traditional marketing and growth hacking (the close variant I don’t recommend). 

Ett diagram över skillnaderna mellan traditionell marknadsföring, tillväxtmarknadsföring och tillväxthackning

While the obvious solution for more sales is getting more visitors, this is not always the best one. If the product lacks competitive features and if there are obstacles on the path to purchase, money spent on getting more people through the door will always lead to low conversion and high churn. This is where growth marketing comes in. 

A great example of growth-oriented thinking is LinkedIn’s Reconnect Flow. It’s a nickname for the early onboarding process where new users were asked questions about their personal experiences and offered connections to existing LinkedIn users based on that. This simple tactic engaged both new and old users. 

Another interesting growth tactic LinkedIn used in the early days was encouraging users to import their email contacts (not a common thing back then). It was enough for 7% of new users to import their contacts to increase the overall number of invitations to 30%.

How it works

The idea behind growth marketing is based on the scientific method: propose hypotheses and validate them through experimentation. In marketing, it’s known as the growth hacking cycle. 

Ett diagram över tillväxthackningscykeln

The whole cycle starts by gathering data on the buyer’s journey. Next is generating ideas on how to improve and then testing those ideas (for example through A/B testing). 

It may seem like an obvious way to do marketing. But it’s not always that easy: Some tests may be hard to perform, and discipline is required. Also, it’s always faster (but not better) to go with your gut. 

An important part of the growth mindset is the ability to analytically break down big problems into smaller pieces. This approach allows for setting more achievable goals. 

For instance, a goal to increase sales is too vague because sales rely on many factors and not all of them are controllable. Instead, growth marketers may want to discover what “moves the needle.” Depending on the product, this may be encouraging the user to perform specific actions in the product or gearing pricing and communication toward a new audience. 

Slutgiltiga tankar 

Sustainable growth doesn’t rely only on the strategies or tactics you choose. You need to give them time to work out the returns. You also need to experiment with them to see what works best for you. 

There’s a great talk by Rand Fishkin on the concept of the flywheel in marketing; how the first push is the hardest, but it builds momentum that makes things easier in the long run. Sustainable growth strategies are just like that. As you build more value into your product and your brand, you gain momentum that acts as a multiplier for every new thing you do. 

Har du frågor eller kommentarer? Pinga mig på Twitter eller Mastodont.



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SEO

About This Author, Diverse Views, + More

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About This Author, Diverse Views, + More

Google is improving how it helps searchers evaluate information and discover different viewpoints.

Finding accurate and reliable information can be daunting as the internet grows and evolves.

In response to this challenge, Google is taking the initiative to provide users with new tools.

Google has announced the following updates are rolling out to search results:

  • Introducing ‘About this author’
  • Expanding ‘About this result’
  • Easier access to ‘About this result’
  • Adding diverse perspectives to Top Stories
  • Advisories for information gaps

This announcement comes ahead of International Fact-Checking Day on April 2, emphasizing the importance of information literacy and reliable sources.

About This Author Provides Author Background

Google is growing the “About this result” feature to include a new element called “About this author.”

By tapping the three dots on any search snippet, you can access more information about the background and experience of the authors whose content appears on Google Search.

Google’s announcement doesn’t specify where it gets the author’s information. I’ve contacted a Google representative for clarification and will update this article with more details.

This feature will be available on search results in English globally.

About This Result Feature Goes Global

Google’s “About this result” feature will soon be available in all languages where the search engine is accessible.

Users can tap the three dots next to search snippets to learn more about the source of information and how Google’s systems determined its usefulness.

This context can help users decide which websites to visit and which results to trust.

New Perspectives Feature Offers Diverse Views

Google is introducing a new feature called “Perspectives,” which will appear below Top Stories and display insights from various journalists, experts, and relevant voices on searched topics.

The feature aims to provide a variety of unique viewpoints on news topics, complementing the authoritative reporting already found in Top Stories.

This carousel will launch soon in English in the U.S. for desktop and mobile devices.

About This Page Becomes More Accessible

Google is making the “About this page” information easier to access.

Users can now type a URL into Google Search, and information from “About this page” will appear at the top of the search results.

The feature is now available globally in English.

Content Advisories Address Information Gaps

Google Search will automatically display content advisories when a topic is rapidly evolving, or Google’s systems lack high confidence in the quality of available results.

In the coming months, Google plans to expand these advisories to new languages, including German, French, Italian, Spanish, and Japanese.

Sammanfattningsvis

Google’s dedication to giving people tools to judge and understand search results is important in our digital age.

By making features like “About this result,” “Perspectives,” and “About this author” better and more widespread, users can make smarter choices about what they read online.


Källa: Google

Featured Image: Screenshot from blog.google.com, March 2023. 



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