Data-Driven Product Innovation in MarTech

The Guest

Jason Tatum is the VP of Product at CallRail, a lead intelligence platform that helps businesses capture, attribute, and manage leads, calls, texts, and chats to optimize their marketing. He’s been a content strategist, PR director, product analyst, he’s been working his way up the product ladder at CallRail for the last seven years and he’s here with us today to talk about data-driven product innovation in martech.

From Non-profits to Product Management

Jason’s transition from non-profits to tech writing was a stepping stone into the world of product management. "I realized that there was something that product managers did, signing up for things, researching ideas, placing bets on what might move the needle for business and customers, and that was interesting to me," Jason said. Our conversation then pivots to highlighting the symbiotic relationship between product managers and marketers – a combination Jason describes as either toxic or a force-multiplier.

“First, depending on the company you’re at, marketing and managing a product can be interchangeable,” explains Jason. “Product managers are responsible for what actually gets built, and how; product marketers are much more tactically focused on designing the tactics and go-to-market strategy.”

Data-Driven Decision Making at CallRail

When it comes to aligning product innovations with customer needs, Jason emphasizes the importance of balancing qualitative and quantitative data. "Sitting in on calls, listening to calls, reaching out to folks in the help tickets... an actual phone conversation might yield 10x what a survey would," he said. This data-driven approach has been crucial in identifying meaningful product innovations and separating the signals from the noise.

A Significant Pivot Driven by Customer Data

Jason shared an instance where customer data led to a pivotal strategy adjustment at CallRail. Analysis of Long-Term Value (LTV) revealed that customers using at least one integration had better experiences, higher LTV, and reduced churn rates. This insight seemingly underscored the importance of using data to identify and magnify value in product management, but how?

“Data points are tools and starting points, but not the end or the beginning,” says Jason. “When I realized this simple fact, that customers who put effort into the platform to make it integral to their stack, were getting more value from the platform, it was clear that emphasizing integrations was a worthy pursuit. A product manager’s main job is value.” Jason believes that data, mixed with intuition on what can maximize value across the board, is what really makes the difference.

Evaluating the Impact of Data-Driven Products

Regarding the evaluation of newly launched products, Jason mentions the significance of both leading and lagging indicators of success. "We really try to encourage product teams to find leading indicators of success," he said. This approach involves looking beyond binary metrics, utilizing “and/or” frameworks, and considering multiple value pathways to fully understand a product's impact.

Emerging Trends in MarTech

Looking ahead, Jason identified three key trends in the MarTech industry:

The Evolution of AI: Jason predicts a transformative impact of AI on the industry, albeit with the risk of over-rotation and noise, due to an explosion of automated content.

Diverse Communication Channels: The importance of accommodating various customer communication preferences, from the various online options, to texts, chats, and calls.

Data Privacy and Stewardship: An increasing focus on data policies and responsible data management, a result from potential regulation, the deprecation of cookies, and customer concerns about privacy.

Jason's insights paint a picture of an evolving MarTech landscape, one where understanding and responding to customer needs through data-driven marketing is key. His emphasis on the balance between quantitative and qualitative data, the importance of value in product management, and the anticipation of future trends, provides valuable lessons for anyone in the field of marketing technology.

"Product management means finding out 'what could be,' says Jason, ”The main job of the manager is picking out the signals from the noise."

To find out how CallRail is anticipating future trends through product innovation, what Jason’s one piece of advice is for product managers, and if Jason prefers Mario or Luigi, listen to the entire interview at the links provided.  

The Links

https://www.callrail.com/
Jason on LinkedIn

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