Hello and welcome to the 122nd edition of Fresh Salmon.

It is my pleasure to have you here, and if you would like to read past issues of the newsletter, please click here.

2024 is the year male fertility startups go mainstream. The global male infertility market hit $4 billion in 2022 and it will climb to nearly $6 billion by 2030.

This week on my LinkedIn weekly healthcare roundup, I put the limelight on the male fertility market, check out the video here [Watch time: 2:27 min].

Now let's get started...

6X Conversion on Pricing Page

At one of the B2B companies where I was VP of Marketing, we created an audiogram-style video to capture real customer voices.

As opposed to posting a case study or testimonial with a headshot, we decided to record customer voices to make the whole experience more human. 

Our customers were asked to record a brief audio recording in less than 90 seconds about their experience with our software.

A total of 7-8 customers provided us with audio snippets.

Specifically, we asked the customers not to mention their company name or their names so that we could focus on what they are saying rather than who they are.

After that we stitched all these audio snippets together in an audiogram-style video, and placed it on our pricing page. 

And BOOOM! 

Compared to what we were getting before, we got 6X conversions on the Pricing Page. How about that for a win?

Brand-run Communities vs. Independent Communities: Navigating the Future of Professional Networks

There are two main types of professional communities emerging today: brand-run communities and independent communities. 

B2B companies can make informed decisions about which model best serves their strategic objectives by understanding each model's unique attributes and challenges.

Brand-run Communities: Potential and Pitfalls

Brand-run communities are created and managed by companies to foster a sense of belonging among users, promote products, and gather valuable customer insights. 

Several tech giants, such as Adobe and Salesforce, have leveraged such communities to increase product loyalty and user engagement.

Advantages:

- Direct Feedback Loop: It is possible for companies to gather immediate and actionable insights directly from users, which can help them improve products and services more quickly.

- Enhanced Customer Engagement: Through beta tests and feedback sessions, these communities allow brands to keep their customers engaged, updated, and involved in product development cycles.

- Brand Loyalty: Brand loyalty and customer retention can be enhanced through regular interaction within these communities.

Challenges:

- Perceived Exploitation: As seen in the case of several companies, members might feel exploited for commercial gain, resulting in distrust and community backlash.

- Bias in Content and Interaction: Community agendas and content can heavily favor the brand's commercial interests, which can stifle genuine peer interactions.

Independent Communities: Authenticity and Objectivity

Independent communities, on the other hand, are typically created by third parties unaffiliated with corporate entities. 

Often, they are praised for providing unbiased platforms where professionals can exchange insights, network, and collaborate without being influenced by corporate agendas.

Advantages:

- Unbiased Information: These communities are free of corporate oversight, which leads to more honest and open discussions.

- Diverse Perspectives: Typically, independent communities attract a wider range of professionals, which results in more diverse insight and discussion.

- Empowerment and Advocacy: Through these platforms, members can better advocate for their needs and interests, potentially influencing broader industry standards.

Challenges:

- Resource Limitations: Having no direct funding or support from a corporate entity might limit the growth and quality of independent communities.

- Less Direct Influence on Product Development: They can provide feedback to companies, but their influence on product development and business strategies is often less direct than that of brand-run communities.

Strategic Recommendations for B2B Companies

Before choosing between a brand-run or an independent community approach, B2B companies should carefully consider their objectives. A few strategic considerations are as follows:

1. Define Clear Objectives: Understand whether the primary goal is to enhance product loyalty, gather user insights, or provide a platform for unbiased industry interactions.

2. Evaluate the Need for Control vs. Authenticity: Brand-run communities may be better suited if controlling the narrative around your products is important. Supporting or partnering with an independent community can, however, contribute to building trust and authenticity.

3. Consider Hybrid Models: It may be beneficial for some companies to support independent communities while running their own brand-centric groups. Engagement can be broadened and control can be balanced with authenticity.

4. Transparency and Value Exchange: Maintaining transparency about the community's purpose and ensuring fair value exchange are crucial to maintaining engagement and trust, especially in brand-run communities.

With the development of the digital landscape, the line between these community types may blur, making new hybrid models and models that combine the best of both worlds possible.

A B2B company's community strategy must be continuously adapted to keep up with the progression of technology and changing professional needs.

Winning Through Proximity: The Art of Social Selling

A company's success is determined by its proximity to its customers, even in the highly connected world of today.

Maintaining that closeness ensures continued success. 

This philosophy is at the heart of social selling — a concept that transcends mere tactics to embody a core business ethos.

The concept of social selling isn't just a buzzword, nor is it limited to platforms like LinkedIn. A comprehensive customer-centric strategy ensures every interaction adds value and fosters trust.

Selling has evolved; it's no longer just about closing a deal but about cultivating enduring relationships that encourage loyalty and encourage endorsements.

Through better engagement and strategic introductions, we can harness insights from those who interact directly with customers.

To be effective at social selling, you must align your mindset with your skills and be visible and valuable in the places where your buyers are. 

Making genuine connections is what makes a difference.

Interesting Thing That I Read This Week

Fighter Jet….enough said!

Tweet That I Noticed This Week

Jay Clouse is one of the most sort after creators, if you aren’t following him then do it now.

What Do You Think?

This concludes this edition of Fresh Salmon.

I would like to hear what you thought of today's newsletter.

Also, let’s connect on Twitter, LinkedIn, or TikTok.

Cheers,

Vivek

PS. Do what is good for your soul ❤️