Supercharging AI and Growth: Game-Changing Strategies for Tech Innovators
Generally speaking, game-changing strategies aren’t unique or unheard of, on the contrary, they’re tried and tested. As I reflect on the power of product-led growth and cutting-edge marketing, the past two decades are starting to blend in magically. With rapidly changing audience needs, AI evolving by the minute, and constant innovation in user experiences, it has been a thrilling rollercoaster!
Let’s dive into go-to-market at the crossroads of AI, Growth, and User Experiences. Typically, these topics are combined with Product and Engineering and that’s what’s unique about the reflections below.
Read on to learn about these game-changing best practices tried and tested to supercharge your growth engine:
#1:🧞 Let AI Be Your Growth Genie.
Unleash the power of AI-driven growth solutions to predict user journeys and optimize your funnel. It’s like having a crystal ball for your business!
🚀 Utilize AI for predictive user journeys and A/B testing to optimize your growth funnel. SaaS companies such as Salesforce implementing AI-led omnichannel growth strategies often see impressive results in conversion rates. Add-on the boost in customer retention, reduction in customer churn, and an increase in customer satisfaction scores, AI is here to help your growth dreams come true. HubSpot recently published a Marketing trends report about how teams who implemented an AI-powered content strategy, saw an increase in traffic and leads.
#2: 🦸 Build Your Growth Avengers Team
Assemble your dream team of product managers, analysts, designers, and ops folks. Together, they’ll be unstoppable! This ah-ha moment luckily happened for me several years back when the business minds on my team started engaging with the analytics and development-focused problem solvers. At Microsoft Bing, it was an ‘Oscar winners’ predictions hackathon project combined with the business need to predict startup success that led to the creation of the Startup Predictor project almost a decade ago.
🚀 Industry leaders fostering collaboration between Product, Marketing, and Field teams typically achieve an increase in product adoption rates and faster time-to-market for new features. Establishing growth pods with cross-disciplinary teams including product managers, analysts, designers, and operations will need a stronger set of aligned metrics but, will improve revenue impact and adoption rates. Don’t miss adding your Learning & Enablement team counterparts for a nicer landing of your features and upskilling your customers as you build.
For instance, Atlassian’s “ship it” days, where cross-functional teams collaborate intensively on new ideas, have contributed to their consistent year-over-year revenue growth.
#3: 🔮 Turn Data into Your Secret Crystal Ball
Create a growth funnel that transforms data into action. With propensity models and predictive analytics, it’s like giving your business a superpower!
Best-in-class SaaS companies using data-driven first-principles-based decision-making often see improvements in retention, revenue from data-driven product design, and an increase in marketing ROI as publicly established by the likes of Bain, McKinsey, and others.
🚀 Develop a comprehensive growth funnel covering user acquisition, activation, engagement, and retention much like Netflix did with data-driven content recommendations that drove 80% of their viewer activity.
#4: 😍 Make Your Product a Customer Magnet
Design your product with the customer in mind. After all, happy customers are the best marketers! Invest in user research and watch your conversion rates soar. Companies focusing on user experience and in-product journeys typically achieve an increase in CSAT and conversion rates.
🚀 Invest in user research and optimize the user experience for new feature launches. E.g. Airbnb’s user-centric redesign led to an increase in nights booked and customer retention.
#5: 🌟Digitize Your Customer Success for Liftoff.
Scaling your customer success efforts digitally is no longer optional. Think chatbots and online resources that make support feel like a breeze, ensuring your customers are always engaged and satisfied. It’s like giving your customers a 24/7 concierge!
Add on digital-led onboarding, live and virtual training for advanced users, and bring in those AI SDR agents for dormant or churned user outreach. Industry leaders in digital transformation often report an increase in resolution speed for customer issues, improved customer engagement, and an uptick in NPS.
🚀 Develop predictive digital frameworks to deliver adoption, maturation, and expansion across your customer base. Slack’s digital-first customer success approach has contributed to its 95% customer retention rate among paid customers.
In summary, we are finally waking up to the idea of leveraging AI to drive go-to-market. However, it is all only possible if we combine these data-driven AI strategies with user-centric design, digital-led customer interactions, and most importantly, collaborate across organizational silos and over the fence with our customers.
