526: 5 Ways Product Marketing Impacts Growth w/ Rachel Krug

ABOUT THIS EPISODE

Description: In this episode we talk to Rachel Krug, Director of Product Marketing at Right Networks.

There's a ton of noise out there. Sohow do you get decision makers to pay attention to your brand start a podcastand invite your ideal clients to be guess on your show, learn more atsweetfish media, dotcom, you're, listening to the BTA, be growth,show e pottast dedicated to helping bee to be executives achieve explosivegrowth, whether you're looking for techniques and strategies or tools andresources. You've come to the right place, I'm James Carburry and I'mJonathan Green. Let's get into the show! Welcome back to the beauty by growthshow where you're here today with Rachel prug. She is the director ofproduct marketing at right networks right to how are you doing today, Goothanks for Havpin O me James. I am really excited to have you we're goingto be talking today, racel about why product marketing matters for growthand you've got five specific points that that we're going to be talkingabout, but before we get into those...

...today, Ri Loov, for you to explain toour listeners what right networks is and what you enerteam are up to overthere. A networks is a company that takes desttop and legacy accountingapplications and moves them to the cloud to that CPA firms. Accountingprofessionals can connect with SMB clients, Serdeta a build betterrelationships. We we really enable a counting softwer to move to the cloud.I love it so so rituyin your role, you know a thing or two about productmarketing, a D and we're going to be focusing this interview on. You knowwhy product marketing matters for growth, a a and the first thing we'regoing to be talking about is positioning. Can you talk to us alittle bit about that? So positioning is defined as the place o brandoccupies in the mind of its target audience and a marketing strategy thatthat works and enables growth aims to make a brand occupy that distinctposition relative to competing bet,...

...brands in the mind of the customer, so,for example, at riht networks. I position us as a trusted partner to CEPA firms, accounting professionals and small businesses, which is reallydifferent than our competitors. We are the market leader in clodhosting forquickbooks, stesktop and other accounting based applications, becausewe underand our customers needs more deeply than other people and we realizethat promise through a solution's oriented sales team and enhancedunboarding experience an unparalleled technical support. So I think not onlyis it is it positioning and Kinda, where you want the brand to stand inyour prospects and customers' mind, but then, as living into that vision,through how you interact with prospects, how you anteracted new customers andhow you support existing customers through their life cycle, and so that positioning was rea. Was it?Was that established by you as the product marketer on the team? That'scurrect so to establish that...

...positioning I pulled together stateholders from customer success sales operations product to really dig intowhat it is that right networks does and why we're different. So it wascertainly collaborative and Rprocess h. We spend about five hours together,honestly in a workshop type format, and then I I came away from that workshopwith he takeways distilled it into art, value, proposition and our pillars, sothat we were all in the same change about how we talked about nowworks andwhat it was that we were really doing of it: okay, so so moving pastpositioning. The other thing that I is is crucial for growth. That falls inthe kind in the product. Marketers whellhouse is competitive intelligence.Can you talk to us about that? Sr Sol competitive intelligence is another keyTasq of a product marketer that also ennables the drivers of Grothacquisition, retension and revenue. In...

...my experience, I it's pretty clear.Competition never stands still and other companies are always exploringnew initiatives which you need to anticipate and at times mitigate. Forexample, I was at a small college in Nehampshire as a previous workexperience Franklin pers university, and there is a constant price war goingon between competing universities to win student deposits after they wereaccepted for admission. So you'd accept the student for admission to FrankliPierce, but then you know another college would offer them more financialaid and there's really this competitive dynamic going on. So I hope the teamcome up with value based messaging and new academic programs to entice thestudents to come to the college for value like helping to start theschool's first health sciencist program. That makes a lot of sense this. Thisthird piece Rachel that we're gon N we're going to talk about, is, ismessaging. What's the product marketer's role as it relates tomessaging so th, the product marketer,...

...does the positioning they do. The keymessages then work with the team to make those messages customer facing and in my experience in productmarketing it is always dramatically impactal for growth. How you, how youstate your message, so I have m ample experience, running Ab tests and youknow I've seen just a tweik in one or two words- have a dramatic impact onsomething like a cliper rate, which you know depending on your product, mightbe comting on your website. That's creating a lead or CLIKTU might be astep in your product that you're trying to get more people to do so, reallyjust how you're encouraging people through that funnel through yourthrough the product journey and how you're talking to them makes a hugedifference, N and is that is that messaging, I'm assuming that that messaging is, ishappening across several channels. It's...

...the messaging! That's that's going out.You know via V email to users, it's the the the INAT messaging is or is there aspecific channel that you're referring to no you're right? That T it'smultiple channels and I think the the job of the product marketer is to keepthat message consistent across the channels, for example at right networks.We have messaging on our website. We do email communications with customers, wehave a solution's oriented sales team that talks to prospects, so keepingpeople aligned on on that value prop how we are positioning. And then youknow what are the key messages that we want to be communicating to toprospects and customers again m really so that we make sure that they're goingto find a value in our products that they are finding Melin our productssoito. This fourth piece that we're going to dive into today has to dospecifically with driving revenue, and there are obviously a lot of differentways that a product marketer can do this. But can you talk to us about whatwhat this looks like for you and sure...

...the example that that we talked aboutoffline for how you know how a product Merker specifically drives for revenuere? So I think that the the growth overs acquisition retention revenue inin terms of revenue, I think there's a couple of things that product barketingcan be thinking about. The first is to make sure that the theoffer for your prospects has value for them. So does it have the rightfeatures, the rigpe benefits that is really going to entice people to to buythat product? Then you know once you've established your products. How do you package it?So is there an opportunity to put higher value features in in a in ahigher value package and really then Hod, you price it? So pricing is, Ithink, a critical Roth lever that at times can be overlooked by company. Soso what is the price for that understanding? You know. Are you avalue brand? Are you a bargain branch?...

How? How does that? How does that workwith your with your prospects, customers, O that's R, your core offerI'd say then I think another way that product marketing can add value byproviding companies with revenue is thinking of additional authors thatmake sense for your customers. So is there certain ntegment in your customerbase that might benefit from a partner offer and and just really alwayskeeping in mind that you wan to be offering a core product that has valueand then any other adjacent products that that really have value for yourcustomers and who are you work? Who else are you working with on the teamto come up with those things that ha that are really focused on drivingyourevendoeoes that fall primarily under the pronuct markeding team, or aryou working closely with other folks on making those calls? So I think it'sit's right nowwork. It's certainly a really cleverative effort between sales,marketing and customer success. So it is a group F effort, ittam networksthat you know supports our efforts in...

...in content, Customer CommunicationsOperations and Partner Shein, and this last piece that we're going to betalking about today. This role of the product, marketer, as I as it relatesto growth, is really the product marketer's ability to influence theproduct roadmap. Can you talk to us about that sure that ties into our ourlast point where we were talking about? You know Rathenu and the features of aproduct. I think that as a product, marketer is really in touch withprospects and their needs. They hear things about market dynamics or marketneeds. That m evolve overtime and can communicate those needs to a productowner who can then put them on a prepnot be ele. So I think that youknow a product. Marketer is in touch with their prospects. They collect dataaround what features are relevant for prospects and then and the news thatdata to influence a product roadmap to...

...really be building h, the best productthey can be ritual. This has been fantastic. We have not talked aboutproduct marketing a whole lot on the show, and so I really appreciate youdiving into it with this today. If there's somebody listening and theywant Tu stay connect with you or they want to learn more about right networks.What's the best way for them to go about doing that, O tellmoraboutnetworks feel free to visit our website, www dot, right networks,dotcom to connect with me to learn more about product marketing and grosth.Please you so on Lington, it's Rachel Crook and then I also have a twitteract. Rachel, a cre asomgoll think you so much foryour time do tha real reshet.Thank you James. I to ensure that you never miss anepisode of the B to b gross show subscribe to the showing itunes whereyour favorite pod cast player. This garantees that every episode will getdelivered directly to your device. If you'd like to connect with be to beexecutives from all over the world,...

...make sure to join our private facebookcommunity. There are some incredible conversations happening inside thisgroup to join visit B. TA B growth show tcom, slash FB. Thank you so much forlistening until next time. t.

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