Customers will not come just because you build it. You have to make that happen, and it's hader than it looks. -- Peter Thiel
The cold and unromantic fact is that a good product with great distribution will always beat a great product with poor distribution. -- Reid Hoffman
Builders tends to think product trumps everything. But in reality, traction trumps everything. Even if you build an insanely great product but no one knows, it means nothing.
These notes are about my learning on how to take a product to market and get traction, specifically how to get the first 100 users. It's constantly evolving. Read at your own pace.
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We were looking for online platforms where marketers connected professionally. But we wanted more than a hangout. We also needed a marketing channel. After all, it doesn’t work to show up in a place and shout, “Hey, give us your money!” Instead, we needed to identify a place of opportunity — an opportunity for us to listen, learn, and give value.
Here were the criteria we established for vetting viable marketing channels:
In order for the platform to be successful, there needed to be give and take. We needed to engage with potential customers, and they needed to be able to engage with us. This nudged us towards a platform with a social angle.
Back in 2008, “content marketing” wasn’t a thing. According to Google Trends, the term didn’t become a hot search item until 2011. (We founded KISSmetrics in 2008.)
The idea behind content marketing is giving value, ideally for free. That’s what we wanted to do with KISSmetrics. Our tool was designed to provide actionable metrics. Our marketing, then, needed to be valuable for marketers.
Most of the time, getting a high ROI requires spending little money. Usually, organic platforms require more time than money, and we were okay with that. As an early stage startup, we were cheap and scrappy.
As it was, analytics incumbents like Omniture were dominating paid search. For us to bid on relevant AdWords, we would have to spend more than $10 to get a single click! That wasn’t an option for us. We ruled out all contending marketing channels that required us to invest a large amount of cash upfront.
If you want your business to be scalable, your marketing has to be scalable, too. In fact, marketing scalability should be a primary consideration when considering business scalability as a whole.
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e.g., Swiffer's ad:
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Or more broadly what to work on? Define your traction goal and critical Path to guide you.
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As Peter Thiel says in his book Zero to One:
It is very likely that one channel is optimal. Most businesses actually get zero distribution channels to work. Poor distribution—not product—is the number one cause of failure. If you can get even a single distribution channel to work, you have great business. If you try for several but don’t nail one, you’re finished. So it’s worth thinking really hard about finding the single best distribution channel.
But what is the one optimal channel that works for you? Bullseye framework is intended to help you find that.
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