KPIs for Measuring the Success of Product Marketing Activities
The product was finally launched. It's time to test how your product marketing activities have impacted and how this has impacted your conversions and ROI.
There are many parameters to judge the success of your product. Below are some key performance indicators that can indicate the success or failure of a product marketing strategy for the SaaS business.
Number of possible conversions
Depending on your reach and the type of product marketing activities you have carried out, the number of potential conversions can help you determine the success of your marketing strategy.
Number of qualified leads
The number of product purchases is a clear indicator of the success of your product marketing strategy. Qualified leads can be your existing customers or new customers that you have involved.
Prevalence of shopping promotions
Knowing the frequency of sourcing your product will also help you know how your activities are carried out and the results they are producing.
Product usage metrics
The way your product is used gives you an idea of which marketing strategies will work for your product and which ones need improvement for higher conversion.
Customer Lifetime Value (CLV)
The amount of money your customers spend on your product is directly proportional to the success of your product marketing strategy.
Customer rating
No matter how clichéd that sounds, understanding and improving based on feedback from your customers really adds to the success of your marketing efforts.
Product marketing for 2020 and beyond
Given the unprecedented situation the whole world is currently facing, uncertainty is at its peak. However, companies will not stop producing products, and neither will people stop investing in them. The only way to make progress is to tactfully plan and execute product marketing activities that would keep business moving.
Here are some key things that could make product marketing management easier and drive customer success:
Make the buyer personality the foundation of all your product marketing activities
Prioritize content as an outreach strategy for promoting your product
The BDA strategy should have only one goal, namely sales promotion
Market your product the way your customers want it, not the way you like it
If you are still unsure how to go about your next product marketing strategy, then you should check out a Deck 7 product marketing expert today!
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