User Acquisition

Hey there, and welcome to the 10th edition of the It Depends newsletter.

If you're new here, every week we explore topics around Product, Growth and Startups. This week I've been thinking about what to measure when launching a new product...

let's go ??

User Acquisition: Your Focus for New Products

Typically, measuring the number of New Users you’re getting is somewhat of a vanity metric. There isn't much value in getting a new user until they start using your product properly.

But...

When it comes to launching a new product or introducing a new feature, the first milestone you aim for is acquiring new users. It's the initial litmus test that can tell you a lot about the potential success of your product.

While it's true that measuring new users can sometimes seem like a vanity metric, especially if they don't convert into regular active users, it remains an indispensable focus at the 0-1 stage.

Here's why user acquisition takes centre stage during this critical phase:

1. Understanding and Validation: Acquiring new users early on helps you gauge whether people understand the essence of your offering. Do they comprehend what you're selling, and do they see the value in it? It's a preliminary validation of your product-market fit.
2. Identifying Pain Points: New users can shed light on whether your product addresses a genuine pain point in the market. Are they signing up because they have a problem your product can solve? Their initial engagement can provide essential feedback.
3. Interest and Channel Effectiveness: The acquisition phase offers insights into whether your marketing channels are effective in reaching the right audience. Are people genuinely interested in your product, and are your acquisition channels performing as expected?

Timing is Key. Retention should not be your primary concern at this stage. Focusing on retention metrics when you have only a handful of users might not yield significant insights. Instead, concentrate on getting acquisition right from the outset.

So, if you're launching a product from scratch, your initial emphasis should be on acquiring new users and collecting as much feedback as possible from them. This feedback loop is invaluable for making necessary adjustments and improvements.

Only after you've established a solid base of new users can you shift your attention towards the next stages of growth, including retaining these users and converting them into active, engaged customers.

Just for fun and some stuff to click on

???Listening to STARBLASTER - 2am Funk Dance Party. Another long jam session from Scary Pockets.

?? Reading The Amplitude Guide to Product Metrics .

???Watching How to get your ideas to spread - a keynote by Seth Godin

Roadmap Maturity Assessment

Last week I shared about the 5 levels of roadmap maturity for you to see what level you’re at.

These are the 5 levels:

• LEVEL 1: There's a lack of understanding around the roadmap. Many questions are still open
• LEVEL 2: The Roadmap lacks clear objectives, no long-term goals, and undocumented
• LEVEL 3: The Roadmap is shared with a clear strategy but mostly focuses on outputs, not outcomes
• LEVEL 4: The Roadmap communicates clearly the prioritization and why ideas are being prioritised over others
• LEVEL 5: Everyone understands the roadmap and the product strategy

As a next step, I’ve launched the Roadmap Maturity Assessment to help you look at your roadmap proficiency and get some more insights on what you could improve.

This will give you some practical tips you’ll need to work on.

Go to knowyoursocial.com/RoadmapTest and take the assessment.

It’s quick, just 8 questions, and should give you some good pointers.

Content recap

Some content from the past few days.

Too Much Product Discovery

Finding the right balance between detailed product discovery and taking action is one of those topics which startup founders and product teams keep struggling with. And yet, many teams find themselves caught in the trap of over-emphasising research to the detriment of actually building their product. At which point do you stop the discovery process? Can you really do too much discovery? Where’s the balance?

The Five Levels of Roadmap Maturity

Not all roadmaps are created equal. And not all of them have the same impact within your organisation. You want your roadmap to be built based on customer needs, clear goals and priorities. And that your whole organisation is behind the roadmap and the strategy you've set.?So, let's take a moment to look into the Five Levels of Roadmap Maturity.

Work with me

Whenever you're ready, there are 3 ways I can help you:

1. Product Advisory: I work with you on what to prioritise to drive Product Growth. In practice, I help SaaS, Tech and Mobile App companies define (1) What products to build, (2) How to build them and (3) How to get adoption. This is my main product and you can read more about it here .
2. Product Audit: A complete breakdown of your product’s user journey packed with actionable insights to boost your activation flow and free-to-paid conversions. Send me a note to get started.
3. (Free) Learn about Product, Growth and Startups: Follow me?on LinkedIn ?for daily, actionable content on Product, Growth and Startups, and?subscribe ?to this weekly newsletter for some more thoughts.

Send me a note?to chat ?? [email protected]

That's all for today. My inbox is open if I can help you.

speak soon ??

Matthew