#37: Vimeo's Strategies for Differentiation and Product-Led Growth in Competitive Markets
Nov 30, 2023
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Markiyan Matsekh, ex-Director of Product at Vimeo, shares insights on expansion strategies and product-led growth. He discusses the importance of Vimeo's positioning and differentiation in a crowded market. He also shares a story of a failed strategy, highlighting the importance of these concepts.
Understanding user needs and using qualitative and quantitative data is crucial for making informed decisions in building a successful strategy for enterprise growth.
Brand awareness, execution, and alignment are key factors in the execution of a successful strategy.
Deep dives
Building a Strategy for Enterprise Growth
In this podcast episode, the guest speaker shares their experience of building a successful strategy for enterprise growth at Vimeo. They discuss how they shifted the focus from small businesses to enterprise, highlighting the need for resource allocation and a clear strategy. The guest emphasizes the importance of understanding user needs and using qualitative and quantitative data to make informed decisions. They also explore the role of brand awareness and reputation in gaining market share. The success of the strategy is attributed to a strong differentiation, a focus on converting viewers into creators, and the ability to execute quickly.
Challenges and Learnings from Strategy Execution
The episode also touches on the challenges faced during the execution of another strategy at Vimeo. The guest highlights the competition with Loom and how brand perception played a significant role in its success. The differentiation between the two products is discussed, with Loom's focused branding and Vimeo's struggle to change the perception as a hosting company. The guest emphasizes the importance of leveraging strengths and aligning strategies with the resources and priorities of different teams. Ultimately, they learned the value of brand awareness, execution, and alignment in strategy execution.
Lessons in Aligning Strategies for Success
The guest shares key lessons in aligning strategies for successful outcomes. They stress the need to recognize when a strategy is not working or when there is a misalignment within the company. It is important to communicate these challenges to management and promote a cohesive strategy across teams. The episode concludes with an invitation for collaboration and learning, showcasing the guest's interest in understanding different company strategies and offering assistance to others in the field.
When doing expansion strategies, we need to come up with insights about what markets we can penetrate and win. Combining that with product-led growth thinking, you can review the pull from existing users to come up with underserved needs and sizing opportunities.
That can be easier said that done, but in this episode of 100 Product Strategies, Markiyan Matsekh, ex-Director of Product at Vimeo, shared the steps he took to conquer the enterprise segment.
Besides the very insightful strategy story, he shared the fundamentals and the importance of Vimeo’s positioning and differentiation to win in a crowded market.
And of top of that, we closed with an interest story of an unsuccessful strategy, that failed for the same reasons the other one succeeded, reinforcing the importance of these concepts.
You can find Markiyan on Linkedin: https://www.linkedin.com/in/markiyanmatsekh/
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