Every failed startup has a product. What most of startups don’t have is a distribution strategy. We provide you the service. You have to provide the Meditationcourses or Lessons. The product is finish.
The problem is: You can build an innovative product, but nobody will use it. Startups need Traction.
50 Percent Rule: 50% Build product and 50% test traction strategies.
- Traction is quantitative evidence of customer demand.
- Traction is growth. That your company takes off.
Gabriel Weinberg presents the Bullseye Framework.
- Outer ring: What’s possible?Brainstorm every single transaction channel. This step is to systematically consider all possibilities and avoid personal biases. For each channel, there should be one idea developed.
- Middle ring: What’s probable? Make cheap traction tests
- Whats working: Execute.
The first thing is to realize, that your Growth Tactics are highly biased. Probably you thought of Social Media or SEO. But in reality there are 19 Traction Channels. In order to
Outer ring: Traction Channels:
- Targeting Blogs: Targeting niche blogs your customers read is one of the most effective ways to get your first wave of customers. However, this channel is not infinitely scalable.
Publicity Getting name in traditional media
- Unconventional PR: Doing something exceptional like publicity stunts. Anything you could do that would result in a huge amount of publicity without you having to make an effort for it to spread, even if that publicity is negative.
- Search Engine Marketing: Google’s Adwords is still the largest advertising network online, and if you can afford it, it’s worth testing out. These are the ads that you see above and alongside search results, suggesting certain sites related to the keywords you plugged in that might not be the top ranked sites.
- Social and Display Ads: The benefit of advertising on social networks is that it will let you target your ads with greater specificity than on Google or another search engine. You can refine your ads by certain demographics, interests, pages people have liked, and more, which you can’t do on a search engine.
- Offline Ads: Offline advertising isn’t dead yet, and with how much advertising has moved online, the offline options have gotten cheaper by comparison. The bad part about them is that it’s harder to track exactly how well they’re performing, but the good part is that if you know a few tricks you can get them really cheap.
- SEO: With the help of this optimization, it is possible for certain keywords to appear higher in the search engine results.
- Content Marketing: Content marketing is the process of creating content that your users and customers would be interested in, distributing it for free or at low price, and then using that content to draw people to your site where they’ll hopefully activate as new users or customers.
- Email Marketing When someone signs up for your site or buys from you, their email address needs to be going into email marketing software like MailChimp or Campaign Monitor. Once they’re there, you can let them know about new features, new products, or send them content that you’ve created that they might be interested in.
- Engineering as Marketing
- Viral Marketing
Business Development: Business development is the process of establishing partnerships and agreements with other companies or startups to promote each others’ products or services.
Sales Creating process to directly change products for dollars
- Affiliate Programs: Affiliate programs are a way for you to reward your existing users and evangelists for spreading the word about your product or service. It can be done one of two ways, you can reward them with money or services within your service, or you can reward them simply by paying them for the referral.
- Existing Platforms: You can also use existing platforms, especially online, to help promote your product.
This is what Facebook games—yes, all those annoying ones—are doing, but there are less obtrusive ways to take advantage of it. Spotify, for example, would let you share a Spotify update to Facebook depending on what you’re listening to so you could see your friends’ music preferences.
- Trade Shows: The trade show is a classic example of old-school ways to gain early users, but it’s still viable today. If you’ve never heard of one, a trade show is similar to a college career fair, but instead of booths for companies looking to hire there are booths for companies showing off their products to buyers and other companies.
- Offline Events: An alternative to the trade show if you don’t want to wait for the next one, or don’t want to risk being lost in the sea of people, is to host your own event entirely.
The most popular example of this right now is to bring people together through “meetups” on the eponymous site meetups.com. You can host your own group on any topic you want, and in doing so create a community of people who represent some of your target market and could be early test users or early customers. You just have to be careful to balance making sure it’s a valuable event or meetup for everyone, and not just a long sales pitch for you.
- Speaking Engagement: In between hosting your own events and going to trade shows, you can also look for opportunities to secure speaking engagements related to your field. If you’re recognized as an expert in what you do, you might get invited to speak at other people’s events or you can pitch yourself as a speaker once you hear about an event being put together.
If you don’t have a reputation, then you can start by speaking at events for free and then putting recordings of the talk online. Over time, your reputation from small events can move you up to local events, and then to regional events, and then to the large national premiere events where you’ll get the most publicity.
- Community Building Last but not least there’s community building. Meetups are a type of offline community building, but you can also look at building a web community to attract and keep new users.
Many of the best free sites online operate on community building. Wikipedia, for example, staffs very few people and 99% of the work is done by people passionate about sharing their knowledge from their bedrooms or offices. There’s a community culture of accuracy, verification, and contributing to the project at large.
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