Growth Marketing Case Study #5: New Relic
The development of a simple and intuitive interface that allows teams to be created seamlessly and communicate immediately helped more people hit the ground running.
From their start in 2008 until now, they’ve managed to gain 15,400 clients (as of 2020) and monitor over 1 million websites and 1 billion (with a b) apps.
Solve a Problem: The basic rule of entrepreneurship is to solve a need, and New Relic knew that they would have to create something great for a ent community.
Early traction can almost all be traced by the quality of their product and its usefulness, making their focus on providing an excellent tool worthwhile.
Create Salespeople: Early marketing efforts were heavily focused on not only selling to large development firms but specifically Ruby on Rails programmers.
This approach was different in the sense that New Relic went after people instead of agencies, leading to popularity among those who would actually use their product.
Give It Away: A freemium model would give skittish developers a chance to view their program’s analytics, enticing them to upgrade to paid.
New Relic’s marketing was simple, convince prospects to sign up and deploy to get a t-shirt and let the product do the rest.
Spending Money: In addition to shirts, the company is spending money on social ads and traffic at a high rate to gain relevant traffic. The brand is also employing multiple tools and SaaS products to gather the data they need to grow even faster.
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Addictive Personality: With the product just being so dang valuable, their customers actually get dependent on the insights gained from it.
This need for the data has led to an almost unheard of negative churn rate (meaning their customers spend more year over year).
This rare occurrence happens due to the amount of data created and the space taken up on servers. Talk about growth.
Growth Marketing Case Study #6: Tinder
Their growth has come from a mix of newsworthy attention as well as innovation in a stale and competitive market.
How much they’re worth and how much trouble they’ve seen maybe cloudy, but the best story is in their growth.
A large number of females using the app would then entice guys to join, but the supply of potential dates had to be there first.
They met this problem from sorority houses, getting girls to sign up one dorm at a time. Next, you just had to tell the college guys there were girls.
Make It Fun: The need for loads of users in each town led to the gamification of the tinder app itself.
By creating the ability to keep “swiping,” you create a sense of wonder and hope that you’ll hit the jackpot with another flick or two. This feature has been a huge factor in the overall success.
Make It Better: Tinder was able to not only create an app in a crowded market, they were able to highlight some common issues with the giants and make them better. Ladies are less likely to get heckled by countless heathens with features built into the app, making more women use (and even enjoy) the app.
Keep Going: To keep people’s profiles fresh and used, tinder continues to add features and tweak them into a more social experience (without losing its core value).
Add-ons like ‘matchmaker’, which allows someone to introduce two friends through the app, or ‘moments’, which allows a user to share edited visuals with matches.
Growth Marketing Case Study #7: Stripe
If you want to create a company that attracts investors like a bug zapper on a front porch, listen to stripe’s story.