Why Marketing is Essential for Product-Led Growth

In a recent discussion with Warren Securnick, a seasoned fractional CMO with over 20 years of experience in both B2B and B2C environments, some insightful perspectives on product-led growth and the role of marketing were shared. Drawing from his extensive background in marketing leadership roles, Warren highlighted the ongoing debate around whether a great product can truly sell itself without the need for strategic marketing efforts. His insights challenge the notion of the self-sustaining product and emphasize the critical role that marketing plays in driving discovery, building trust, and sustaining growth.

The concept of “product-led growth” is gaining significant traction. It’s an appealing idea: create an outstanding product, and the customers will naturally flock to it. This notion harks back to the age-old belief that if you build a better mousetrap, the world will beat a path to your door. But is it really that simple? Can a product truly sell itself without the need for strategic marketing support?

The Myth of the Self-Selling Product

The allure of a self-selling product is undeniable. A product that captures the imagination, offers unique value, or solves a problem more effectively than any competitor could theoretically spread like wildfire through word-of-mouth. Examples such as Canva or Netflix might come to mind as products that seemingly took off without significant advertising. However, even these products benefited from initial sparks of marketing that helped them gain visibility and traction.

The truth is, even the best products need a push to get discovered. While product-led growth models focus on creating a product that encourages users to naturally spread the word, relying solely on this approach is often unrealistic. Marketing still plays a crucial role in not only building awareness but also in guiding potential customers through the stages of discovery, trial, and eventually, loyalty and advocacy.

Why Marketing is Still Essential

1. Discovery and Awareness: No matter how excellent a product is, it needs to be discovered. Marketing provides the propulsion needed to get a product noticed in a crowded marketplace. Through various strategies, including search engine optimization (SEO), social media marketing, content marketing, and more, marketing efforts ensure that a product reaches its target audience.
2. Supporting Word-of-Mouth: While word-of-mouth is a powerful tool, it is rarely entirely organic or self-sustaining. Directed efforts, such as referral programs, customer reviews, and influencer partnerships, amplify word-of-mouth effects. Marketing strategies can help orchestrate and optimize these efforts, ensuring that positive word-of-mouth is both widespread and impactful.
3. Navigating Market Noise: In a saturated market, breaking through the noise is a significant challenge. Strategic marketing helps differentiate a product from its competitors by effectively communicating its unique value proposition. This is particularly important in crowded industries where multiple products vie for the same consumer attention.
4. Building Credibility and Trust: Marketing is not just about promoting a product; it’s about building a relationship with potential customers. Through consistent messaging, thought leadership content, and engagement, marketing helps establish credibility and trust, which are critical in converting interest into purchase decisions and fostering long-term customer loyalty.

Strategic Marketing Beyond Advertising

One common misconception is that marketing is synonymous with advertising. While advertising is a component of marketing, it is not the whole picture. Marketing encompasses a broader range of activities, including:

• Positioning and Messaging: Defining how a product is perceived in the market and ensuring that this perception aligns with the company’s goals and customer expectations.
• Content Creation: Developing valuable content that resonates with the target audience, whether it’s educational blog posts, engaging social media updates, or in-depth white papers.
• Customer Experience and Lifecycle Marketing: Engaging customers at various stages of their journey with tailored communications that enhance their experience and encourage deeper involvement with the product.

Products that excel without significant advertising often do so because they have nailed these fundamental aspects of strategic marketing. Even if they spend less on traditional ads, they still invest heavily in ensuring their positioning, messaging, and customer experience are top-notch.

The Cost of Not Marketing

Companies that rely solely on the inherent appeal of their product and neglect marketing are often leaving money on the table. The absence of marketing support can mean slower growth, missed opportunities, and an inability to compete effectively in a noisy marketplace. For example, a company with a high lifetime value per customer could significantly increase its revenue by investing in marketing to attract more customers.

The reluctance to invest in marketing often stems from a few common fears: the perception that marketing is a waste of money, the complexity and variety of marketing channels available, and the fear of making the wrong investment. However, these fears can be mitigated with a strategic approach to marketing that focuses on measurable outcomes and continuous optimization.

Conclusion

While the idea of a product that sells itself is tempting, it’s rarely a reality. Even the most outstanding products need marketing to gain visibility, establish trust, and guide customers through their journey. Effective marketing strategies do more than just advertise; they create a comprehensive plan that integrates product development with customer engagement and market positioning. By recognizing the value of marketing, companies can ensure that their products not only reach their intended audience but also achieve their full market potential.