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The go-to-market script is changing! 2024 will be about…
1. Network-led growth
2. Community-led growth
3. Content-led marketing strategy
4. Cold-outreach but as an Advertising Strategy
In addition, 2024 will be about:
- Doing a lot more with a lot less
- Lots of LLM-based tools
- Increase in M&A activity
What are your thoughts?
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Amy
Agree with all of the above but it will also be about value - what value does your product/solution offers and is that value something so important your customers/prospects cannot do without it (i.e. what are the trade offs if you have or do not have the product/solution). Relationships will be more important than ever - it won't just be about new logos but also expanding existing accounts. Lastly, technology as always will play a big part - needless to say, AI will continue to make strides and will be at the forefront of 2024 even much more so than this year.
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Intriguing points, Vedran. The shift to network-led and community-led growth is a telling sign of the era we're in - where connections and engagement often trump sheer product capability. 🌐 While it's essential to step up the business game with the latest tools and strategies, ensuring a solid product foundation should remain uncompromised. This balance is a tricky but necessary path to sustainability and long-term success. 💼📈 A sudden bloom might get attention, but steady growth secures the future. Thoughts on this?
@builov84 good points Alex. @xaqan 's comment above is worth reading too...
"ensuring a solid product foundation should remain uncompromised" -- I wholeheartedly agree.
More people are encouraged to test out the market with Alpha/Beta version, and the marketplace to re-sell such as acquire are growing in popularity.
So we are going to see more and more of this.
I have done some traffic analyses for websites and it's interesting to see the drop in traditional PPC channels (Google, Facebook) -- Seen companies cut as much as 90% of that budget.
Curious whether that budget is just cut, or if it will flow to activities like the ones you mentioned above.
@nicolaas_spijker, In working with some of these companies cutting their PPC budgets, I can tell you the budgets are transitioning to other opportunities. Content led marketing is where I'm seeing the biggest in-flow growth right now. AI is simply making marketing departments so much more efficient that PPC does not always stack up as being a cost effective channel.
@jameschalmers Thanks for sharing, super interesting transition! Good we started working on our content game and workflows over 3 years ago then. 😄
@nicolaas_spijker if the trend continues with lesser demand we might see cheaper real-estate to buy...
@vedranrasic For sure will be interesting to see where things go, I have seen some pretty cool stuff on the paid ads side of things with more in-depth a/b testing for graphics and copy.
Considering the arrival of AI tools, the next and upcoming years the tech industry will be filled with beta version or underdeveloped products. I observe that most people tend to make their network larger and stronger than their products. Nowadays, tendency is going to the market even with a prototype not the product itself, but make robust relations. Okay, I agree that the main goal of any business is making profit. But, it should be sustainable and spread into long-period, not be a flash in the pan.
@xaqan excellent points Khagani... how do you think market will react to these "beta" products?
It seems to me that the "early adopter" market has increased dramatically... so more and more people are digital-first and willing to try out tools.
@vedranrasic Vedran, actually, I am okay with beta products as long as they are not the carbon copy of their predecessors or competitors. It doesn't mean that every product should necessarily represent an undiscovered stuff. Today, there are thousands of CRM tools, hundreds of messaging apps, plenty of financing apps and each one has buyers. My point is that in most cases tech people repeat the methods applied before when designing a new product. Almost no one wants to be simple, and they are afraid of coming up with a simple product. Well, modern technologies, particularly the development technologies have enabled the software guys to build eye-catching and swiftly-operating products. But, when it comes to functionality, they think that putting more form control fields when adding a record to any system is a necessity. They forget that most people who use these products are not super tech-savvy. When people get a new software product on their phones or PCs, they look around a little bit, click here and there and if they don't find the thing they seek, they throw it away (uninstall). It is reality and I think many will approve this. Maybe, the thing they look for are somewhere in the product. But it is presented in a complicated way. Therefore, my recommendation for the industry people is not being afraid of simplicity. Don't be afraid of coming up with a single input and a Save button :)
@vedranrasic @xaqan Love your take on it, Khagani. You're right that there's a huge gap between what tech can do and what consumers are capable of using.
Simplicity is key when it comes to targeting mass adoption. When I work on my design, I always try to put on the mindset of "the power of subtraction".... which is similar to 'less is more'. When you have less elements to work on, you end up putting more focus on getting the 'fewer ones' right.
I think it will be the same, but not exactly the same. Because of the presence of big language models and artificial intelligence doing the market will be more efficient than ever.
Absolutely agree on network and community led. I think there are huge challenges coming with being content led. AI driven content proliferation is likely to flood the market with mediocre content and make it harder to stand out amongst the crowd, even if you have good, value adding content. Exciting but challenging times. Those of us that amplify our value though AI are likely to be the most successful.
Do you see any innovative ways of using cold outreach as an advertising strategy?