From Naive to Niche: My Startup Growth Journey to Finding and Testing What Works.
Hey there! So, you want to know how to grow your startup? Well, let me tell you, it's not as easy as just throwing some digital messages out there and calling it a day. Trust me, I know. I used to think I had it all figured out with my vast knowledge of digital media, but boy was I wrong. Luckily, I stumbled upon some game-changing books, Traction by Gabriel Weinberg and Justin Mares and Predictable Revenue by Aaron Ross, which opened my eyes to a whole new world of marketing channels that I had been ignoring.
I realized that being too focused on one or two channels can blind us to other opportunities that could work even better. And that's where I come in. My aim with this article is to help you find those hidden gems of marketing channels, measure their effectiveness, and put your money behind the ones that really work.
But let's back up for a minute and talk about traction. Traction is what separates the successful startups from the ones that crash and burn. It's all about getting that quantitative evidence of customer demand. In other words, it's about growth. And the only way to ensure success is to get traction.
So, why do so many founders focus on product development instead of marketing? Well, for one, it's a lot more fun to build cool stuff than to slog through the murky waters of customer acquisition. But the truth is, no matter how amazing your product is, it won't matter if you don't have any customers. And finding those customers is hard work. It requires testing, experimenting, and a lot of cash. That's where marketing comes in.
Now, there's no one-size-fits-all solution for finding customers. It's different for every industry and every product. But that doesn't mean we're completely in the dark. Weinberg and Mares have come up with a list of 19 channels that every startup should explore. By considering all these options, you might just find a channel that you never even knew existed. For example, I had never even considered offline channels until someone at a conference suggested it to me. And guess what? It worked.
But here's the thing: you can't just go around trying every channel willy-nilly. You need structure and measurement. Otherwise, you're just throwing money into the void. As I was going through this process, I developed a weekly document that helps us measure the success of each channel. And there are some ground rules that are worth following:
1) Come up with at least one idea per channel.
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2) Rate and rank your ideas, and focus on 3-4 channels at a time to ensure you give them enough attention.
3) When testing an idea in a channel, make sure to test all aspects, including budget, messaging, and frequency. And if the channel doesn't work, don't jump to conclusions - it may just mean you need to invest more in it.
4) Finally, remember to regularly repeat the testing process across all channels as your business grows and new opportunities arise.
Now, I'm curious to hear from you - have any of these channels worked for your startup? Share your feedback and let's continue this conversation on finding the right channels to help our businesses grow!"
Here is a link to the document ???? Click here
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You create value, I streamline the rest. Strategic & Frontline Associate for Makers, Thinkers, & Dreamers globally Clarifying & optimising operational complexities & leveraging untapped resources into (personal) growth
1 年Great stuff. Too the point for maximum focus (on execution)
? Remote & Local ? Digital Strategist ? SEO Specialist ? Content Strategies ? Local SEO Enthusiast ?
1 年I love this! In my mind I would test one channel a week and after three months cull the channels and focus on what works. Some channels might do better in different seasons so I wouldn't be afraid to go back to a channel (lets say Instagram) if you felt that a campaign around Valentines day would do well particularly well even though you had decided to stop testing there! I would also have some clear goals/conversions in mind; ?? Sales ?? Up-selling ?? Newsletter signups ?? Call back requests ?? Demo requests
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1 年Thanks for sharing your experiences Michelle Geere. These are really valuable! I'm curious to hear your thoughts on how you test the different channels equally. In other words, how do you avoid any form of bias towards a particular channel (could be an over- or under-emphasis)
Coram Deo! Smoothing customer onboarding and checkout journeys, focused on payment optimisation and what happens beyond the buy button!
1 年Excellent post, Michelle!