Have you ever dreamt of becoming a musician? In today’s digital environment, it sure is easier than ever before. Soundtrap, founded in 2013 in Stockholm, Sweden, revolutionized the music industry by introducing the world’s first web-based, cross-platform and collaborative music recording studio. Featured at Google I/O in 2014 AASL and award winner for “Best Website for Teaching & Learning” in 2015, Soundtraps success has been nothing short than spectacular.
One key reason for the platform’s success is that it caters to a diverse audience, serving both freemium users and educational institutions, making it a platform that seamlessly bridges the gap between B2C (Business to Consumer) and B2B (Business to Business) markets. Soundtrap’s ED is an educational offering designed specifically for schools, colleges, and other educational institutions. By offering specialized tools for teachers to manage coursework and assignments, and students to collaborate on music projects, Soundtrap has become a valuable asset in the B2B space, helping educational institutions adapt to the digital age.
When Soundtrap partnered with Nimble, it was clear from the beginning that the focus on business growth always had one underlying objective, democratization of music, talent, and knowledge. While this objective was well-known for the existing customer base, it was Nimble’s job to spread the word – and position Soundtrap as the leading platform for music creativity.
Soundtrap EDU is a niche product designed for a niche audience. Over the course of 12 months, Nimble focused on enhancing Soundtrap’s digital presence within their B2B segment. Given the unique position on the market – together with a very specific target audience, it was important to present a clear targeting strategy. Music creation interest is a given, but it’s important to segment between potential music teachers and their students – making sure that information reaches the right audience. This was Nimble’s approach:
Revised Growth Strategy
The first objective was to implement a revised growth strategy, leveraging paid marketing efforts to maximize reach and engagement, but with enhanced focus on the target audience that matters the most – Educational institutions. Retention is important for all customers, but needs to be emphasized even more with potential teachers – they are the ones with the potential of becoming real brand ambassadors.
Understanding the product and all its branches within Soundtrap was also a crucial aspect of this strategy. This is the Nimble way, and what we believe yields the absolute best results. Understanding the intricacies of the product not only ensures effective marketing but also helps us communicate Soundtraps commitment to delivering a comprehensive and valuable experience to its users.
Empowering Data & Measurement
Just as any other application, fully grasping user behavior – where interaction begins and where it ends – is crucial in order to both acquire, retain and engage users. To ensure a data-driven approach, a full funnel visualization was established using Looker Studio, offering valuable insights into user behavior and campaign performance. Nimble also provided advisory support on defining key performance indicators (KPIs) and optimizing budgets to align with Soundtrap’s growth team in the US.
Target the right audience
Interest-based audience building is an art more than anything else, with the wrong strategy, you will yield subpar results. How do we define a potential target audience in this given situation? Does Soundtrap benefit somebody already knowledgeable? Or someone who’s applied for music school? Or is the platform most suitable for music teachers? Segmentation orchestration played a crucial role in targeting specific user groups effectively. Additionally, Nimble offered strategic guidance on user acquisition within the product, with a focus on schools, including strategies for increasing the number of seats, boosting average order value (AOV), and providing tailored usage guidance for teachers and students.
This was achieved through collaborative efforts with Soundtrap’s sales team, creating lookalike audiences based on their current customers, and tailoring the messaging based on the customer lifecycle. This approach allowed the Nimble team to not only pinpoint their key audience but also to deliver personalized and relevant content that resonated with them, ultimately driving better results. Understanding the audience and their journey was pivotal in shaping the growth strategy and ensuring its success.