A real example on how to leverage Martech for Product Growth in a customer-centric way:
[The problem]
We noticed that our app LangLang (a WhatsApp chat translator app) translates most messages well, but sometimes the output is really off.
[Context]
That's a weakness we knew from day one. Our app was built on top of an old. (and free) translation API. Now that we're making some revenue, it makes sense to change this use use an LLM or a paid translation API to improve the quality of our service.So in oder to estimate how much it'd cost to make that upgrade, we can use the following formula:
Cost = number of messages * cost per API call
[But...]We didn't know how many messages were being sent by users. So we couldn't estimate how much it'd cost to improve our services.So Martech joins the conversation:. We decide to implement a "send message" event;. As an extra, we add a parameter to also track which languages are being used.
["Ok, so what?"]
1) Retention-led growth: by addressing a customer pain we expect to have higher retention rates, translating in higher ratings and LTV;
2) CRO: in our case, this data will allow us to optimize our copy and creatives for our best use cases. A don't forget: this is not useful just for performance marketing! Your onboarding, screenshots, content, emails, PR, etc: it can all benefit from a stronger value proposition;
3) Strategy and Tactics: by understanding which languages are used the most in which countries, we can improve our overall strategy and prioritize initiatives.
[Conclusion]
This is one of the coolest aspects of Martech: being able to transform the unknown ("I have no idea how many daily messages users send") into actual information ("here's how many messages are sent, from these countries and these languages").
