I spent two years optimizing our product as a marketing channel. here's the honest result

Activation rates went up. Referrals went up. Marketing team headcount went down.

Nobody tells you that 'product as marketing channel' is sometimes just a slow way to justify cuts. The product does more, the marketing budget does less, and leadership calls it maturity. Maybe I'm wrong. But I've sat in enough roadmap reviews where 'virality loop' was the answer to 'why are we reducing campaign spend' to be a little skeptical.

Anyone else seen this play out?