Product-led growth is the focus of every Software as a Service (SaaS) firm right now, and implementing its concepts in your go-to-market strategy is the most effective way of leveraging your marketing assets. Product-lead growth is a business ideology that puts the product in the driver’s seat, making it responsible for driving workflows across your organization, as well as the acquisition and retention of your customer base.
Traditional marketing cannot compete with the benefits of marketing based on product-lead growth. But how do you tap into the strength of your products and bring their benefits to the forefront most efficiently?
Video marketing, a type of marketing technique with roots in product-led growth, allows customers to try before they purchase, and the product itself will persuade the user to become a loyal client or upgrade to a paying plan. Viewers' attention may be captured via videos, making it more straightforward for them to trust your product or service. In turn, your company expands without spending thousands of dollars on paid ads or having your sales force regularly call leads.
Product-led growth (PLG) is a strategy that allows businesses to effectively leverage their products to convert active users to paying customers, retain them, and gain new ones through referrals. At the same time, effectively implementing a PLG strategy necessitates more than simply following a simple formula.
Recognizing the importance of conveying the value of your product to users is critical to understanding how PLG works.
PLG (product-led growth) is a strategic approach that prioritizes the end-user. Conversion, client acquisition, and expansion are all driven by the product. Many businesses such as Slack and Dropbox have adopted PLG tactics to achieve rapid and efficient growth. PLG tactics work because they address one of the most significant shifts in sales: the transfer of power from the purchaser to the end-user.
Today's end-users are much more aware of the offered goods and their potential than previous generations; however, due to their relationship with the internet as a visually-rich medium for commerce. As a result, they expect more quality and value. Today, 62% of shoppers read a product review before purchasing. In turn, that single point of contact can be augmented using customer videos. Through the use of videos, a business can raise their conversion rate by as much as 80%. If you ignore videos in your product-led development journey, you're losing out on a whole world of opportunity. The inclusion of customer video represents the ideal showcase in which to demonstrate the value inherent to your product, transforming your brand into an icon.
The product market is more congested than it has ever been. Companies must demonstrate that their products are worthwhile. There's no better way to achieve this than to give end-users a taste of your service or product via interactive and compelling video content.
PLG is a critical approach for SaaS firms that want to make it easier for users to accept a new app, subscription, or tool. Potential buyers get a firsthand look at the product's worth and may determine right away if it solves their issue or helps them achieve a goal.
When users receive constant value from a product, they are more likely to become advocates, actively interact with it, offer feedback to the brand, and share their experience with others. This cycle leads to product improvement, new company prospects, and growth possibilities.
The most challenging aspect of executing product-lead growth is gaining alignment within teams and monitoring the many physical and digital touchpoints that impact customer experience.
Customer experience is concerned with brand loyalty and the chance of customers recommending a product or service. Within a product team, user experience concentrates on the immediacy of user contact with your product.
A SaaS firm can follow a product-led growth strategy while employing imaginative sales and marketing tactics. To fit into a product-led growth strategy, you don't have to hire a freemium model—you might use a video demo, an online instructional webinar, and so on.
Sales and marketing may play a massive part in this process, advocating and educating the public about the product's worth and the company's user-first philosophy.
The primary goal of landing page videos is to generate engagement. After people have watched your landing page video, a video call-to-action can invite them to take another step (such as downloading a guide) and then auto-direct them to additional content when they are finished. Web pages with video content convert much better than those without.
The most effective landing page videos are those that move you and make you feel something. They should elicit the type of emotion that leads to conversions. A customer testimonial about how a product or service solved a problem, or an explainer video with a great script, are two examples of this. You can schedule pop-ups during high-leverage moments in a video to encourage viewers to take action while they are most engaged.
You must look beyond your website to find more qualified prospects. With billions of users worldwide, social media platforms are a powerful place for your video content marketing to gain more eyeballs and increase video views.
A social video can entice viewers to leave the platform and visit your website, where they can become leads. You must adhere to the video guidelines and preferences of each forum. After all, no two social media platforms are alike.
For longer-form videos, such as tutorials and reviews, platforms such as YouTube are preferable. On the other hand, LinkedIn is well-known for its professional, more, formal marketing videos. As a result, optimizing lead generation initiatives based on where you will use the videos is critical to ensuring that your lead generation videos perform well across all platforms.
Incorporating a video into an email newsletter is another effective way to generate leads with video marketing for businesses. An email newsletter that includes a video can help you keep your existing leads engaged.
When you include a video in your email newsletter, you can increase the recipient's likelihood to watch it. According to statistics, including a video in your email can increase your email click-through rate by up to 300 percent. The more subscribers who open your emails, the more opportunities you will have to persuade them to take action.
When you gate your videos, you only make the content fully accessible to those who provide their contact information (e.g., names, email addresses, etc.). You can accomplish this by displaying a form in front of the video or overlay that requests contact information.
Gated videos are popular because they immediately provide content for prospects and reduce the effort required. Furthermore, it assists you in obtaining your prospects' email addresses so that you can stay in touch with and engage them. This way, you can easily attract them and convert them into paying customers.
When hosting your videos on video-sharing platforms such as YouTube, it's always a good idea to include an end card at the end of your video. End cards serve as a robust and visible call-to-action (CTA) that encourages viewers to take the action you want them to take.
This allows you to have a stronger call-to-action with viewers while also reminding them to sign up as leads for more information. You can include a link at the bottom of the card that directs viewers to your lead generation pages. They can land on your lead generation page and become even more acquainted with your brand with just one click.
Because your prospects provide you with their contact information in exchange for the free, informative content you're providing, providing them with something of value in return is the most effective way to generate leads. In other words, don't make videos solely to generate leads.
When using videos as a lead generation tool, one of your top priorities should be to provide value. Remember that the power of video lies in its ability to engage the viewer from beginning to end and show them a problem they know is worth solving or something their life desperately requires. Keeping your audience engaged will assist you in generating more leads and increasing lead conversion rates.
When your prospects find your lead generation videos valuable and helpful in addressing their concerns, they should have no trouble signing up for a free trial or investing in your product.
If you need help getting authentic customer videos to use as testimonials, check out rfrd. We aim to help businesses grow by generating qualified leads and expanding the targeted audience reach. Visit our website to learn more about our services and pricing.