First of all, happy new year fellow tech enthusiasts and marketing mavens!
Welcome to the latest edition of the Weekly Bash, covering everything AI in product and marketing!
As we kick off 2024, it's time to gear up and embrace the power of artificial intelligence like never before, crafting marketing strategies that are not just effective but downright superior.
Workflow highlight: Write marketing strategy with AI
In this edition, we're rolling up our sleeves and getting hands-on with workflows many marketers are focused on in the new year: GTM (Go-To-Market) and growth marketing strategies.
Let’s quickly go over a definition for each one:
- Growth Marketing focuses on driving sustainable, long-term business growth through experimentation and data-driven optimization. Growth marketers cover the full funnel, from acquiring users to retaining and monetizing them.
- A Go-To-Market (GTM) strategy is your marketing roadmap for launching new products or services. You want to ensure your product meets customer needs and stands out in the competitive landscape.
For smaller teams ideating great strategies can be a time-consuming process. Ever-changing products and priorities make it especially hard to keep your strategies up-to-date.
AI can assist you on keeping things fresh. Write strategic outlines based on changes in product descriptions, value propositions, homepage changes and more.
Here’s what that process could look like.
Step 1: Add your product information to Bash
Add your product homepage, your updated branding document for 2024 or the latest product release notes to Bash.
Upload a file, webpage, team meeting or just copy your latest knowledge into Bash
Step 2: Go to Drafts and select the Growth Marketing Plan or Go To Market Plan template
Select the strategy template you want to work with from the template gallery and create a new draft based on your product information.
You can fine tune the tone of voice, audience, add personalized prompt tweaks and even decide on the language of your strategy document!
Write with the Go To Market Plan Template | Bash
Step 3: Iterate on your strategy document, share with others, and apply more templates
Once you’ve finished writing your new strategy, share it with others and start focusing on what really matters.
You can also ask Bash to create an action plan for you based on your newly created strategy document to define individual steps to put strategy into action.
Did you know?
Pareto principle: 80/20 rule
80% of your results come from just 20% of your efforts. A well-crafted strategy positions you to focus on channels that drive traffic and convert customers.
" Efficiency is doing things right; effectiveness is doing the right things" - Peter Drucker
It's not just about the actions we could take, but zeroing in on the ones we should. Let's focus on those transformative actions that make all the difference.
Marketing strategy corner: Ansoff Matrix
The Ansoff Matrix, also known as the Product/Market Expansion Grid, is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth.
The matrix presents four main growth strategies in a 2x2 grid:
- Market Penetration: Tactics might include increasing market share through competitive pricing, promotion, sales campaigns, or improving product quality.
- Product Development: Companies often use their existing customer base and market knowledge to sell new products that meet changing consumer needs.
- Market Development: Expand into new geographical areas, targeting different customer segments, or using new distribution channels.
- Diversification: The most risky strategy, diversification involves introducing new products to new markets.
Ready to write your very own Ansoff Matrix for a product or campaign? Use our dedicated template!
Write an Ansoff Matrix for your business with AI | Bash
AI Nuggets for thought
- Can AI predict the success of your GTM strategy before launch?
- Can AI pinpoint which GTM elements drive sales?
- How does AI cut through the noise to enhance growth strategy decisions?
Want to start a conversation? Tweet us one of the questions! If you enjoyed this newsletter, feel free to share and forward!