What do you think of Formula One? It’s a technology-driven sport where teams have to innovate to stay in the race continually. Even the biggest team is always testing a new feature to improve its car, at the risk of being caught up.
Do you understand this strategy? Then you have understood what lean marketing is and its importance on a company’s performance.
However, let us tell you a little more.
Lean marketing, an evolutionary approach
Lean marketing is about being agile in a continuous process of improvement. The objective is to continually adapt its offer, services, or products to market developments. Each marketing campaign or activity represents an opportunity to improve in terms of acquisition and customer satisfaction.
Through experimentation and analysis, you anticipate changes in consumer behavior. The objective? To remove obstacles and free up points of pain to better achieve your objectives.
Lean marketing requires a certain sense of creativity and constant innovation.
A concept centred on three steps
Lean marketing is part of a scientific approach with experiments that guarantee the adaptability of your products to new trends. This strategy is built around 3 pillars: “Build, Measure and Improve.
-
- In the first step, you create quality content tailored to your audience. This involves a thorough preliminary study of your buyer’s persona. Then, this content is promoted and distributed via social networks, the newsletter, targeted ads. This is the “Building” part of lean marketing.
- Secondly, you analyze your strategy thanks to performance indicators such as website traffic, bounce rate, engagement, or conversion rate. Here you measure your efforts and their impact.
- These actions lead to the last point where you learn from your mistakes. Between the statistics from your measurements and the addition of A/B tests, you identify what works and what needs to be improved in your strategy. The goal is to improve your process to maximize your return on investment.
Improve your offerings with MVP
The MVP or Minimum Viable Product in French is a concept taken from lean marketing. This technique encourages the testing of a minimum version of a product or service before its launch. The latter will include only the key features that bring value to consumers. The goal is to quickly and cheaply test the interest of the product to its prospects.
For example.
Instead of designing a perfectly accomplished software, with a modern design and dozens of features, you can develop a lighter version, with a simple design and basic but powerful options. You will make it evolve later, based on customer feedback. You will add the features specifically requested and improve the interface over time.
The result: your product will evolve along with the needs of your customers. Your software will, therefore, be perfectly adapted to the expectations of your target, which will increase your sales volume in the long term.
Within the framework of lean marketing, the focus is on the unique value offered by the company. Concretely, instead of talking about the characteristics or properties of a product, you put forward the added value, the feeling it gives to the buyer. When you win your first customers, you will be able to improve the technical and operational side. The final goal is to obtain a successful product, capable of meeting high demand.
