Stop spinning your wheels and start gaining traction!
Finding your first customer should be easy. But once you run out of friends and family members and try to find your first 10, 50, 100, or 1,000 customers, things get much more difficult. It requires such a deep understanding of your customer that it borders on needing an undergraduate psych degree.
In today’s environment, there are endless ways to promote and sell your product/service. These tactics fall into one of three strategies:
How do you know which is the right marketing strategy for your startup?
If you’re running a lean operation (meaning it’s you and maybe a few others), you need to be very efficient in how you work. Every day that goes by without a sale is pressure mounting on you to make this right.
Most people assume that Inbound Marketing is limited to blogging and typically reserved for established companies who can afford a full-time writer. This couldn’t be further from the truth and in fact, more startups should be utilizing it to find their early customers.
No matter your industry, the competitive landscape has never been tighter and finding a designer/developer to bring your latest ideas to life is easy. The better question to ask is what should they build? What’s going to be your competitive advantage?
As a startup, it has to be that you understand your customers’ problems better than anyone else.
Inbound marketing (done well) forces you to put yourself in the customers’ shoes and engage with them through content. While your product might not be the end all solution to your customers’ problem, your content can supply your audience an idea of the direction your heading in.
There are success stories everywhere. A recent question in a Facebook Group I’m in asked, ‘How long did it take you to get to $10k MRR (monthly recurring revenue)?’ The responses weren’t very inspiring.
With responses like that, it’s hard not to ask yourself ‘What’s wrong with my company?’
The answer is your stuck in Product-Market Fit; you’re hypothesis testing. You’ve got an idea, a prototype, a functioning product… heck, you may even have sales!
Let’s ignore the $100+ you spent on Facebook ads that got you nowhere and focus on what stage your business is in and how to push through it.
The first question you have to ask yourself when launching a company: Is this a hobby or a business? Are you hoping to pull a salary from this venture or is this a side-hustle? How quickly you establish a market for your product will help answer this question.
90% of startups fail because they aren’t able to achieve Product-Market Fit (PMF). ‘Despite how perfectly designed and developed the product or service is, it is useless if no one wants it.’
PMF is the process of proving your hypothesis in the market. It’s asking the question, are there people out there who see enough value in what I’m selling to depart from their cold hard cash?
It’s a process because while the formula sounds easy (find potential customers, close the deal, retire to the Caymans), it’s much harder in practice.
The way to move through PMF quickly is by rapidly prototyping, testing, and iterating your product until you have a reliable way to find customers and make money.
Startups especially need to be very deliberate on identifying their customer. If this were a school dance, right now you need to go up to everyone individually and ask them if you can get their attention for one song.
Once you have product-market fit, then you can do the worm in front of the whole student body.
Everything does not need to be working at 100% to launch your product, but you do need three key elements:
Your Feedback Loop is the most important part of this formula. It determines how quickly you can find out who you’re real customers are and what they care about.
Think of your feedback loop as a conversation, and the goal is to start as many conversations with potential customers as you can on your product offering, messaging, price, and more! The goal here is to identify and understand your customer.
How I start the conversation
This should be a mix on in-person and online discussions with people both inside and outside of your network. If you’re nervous about discussing your solution with strangers, you’ll need to overcome that fear soon. You’re going to need more than the varsity basketball team as customers to survive so it’s best to break this fear early and start now.
The key here is to launch your product early and be sure you have a tight feedback loop. The three key insights you’re looking for are:
If you’re solving a real problem that people care about, users will be eager to talk to you about it. This is where the real value-add of Inbound Marketing kicks in and helps you define your offering.
You’ll also find a lot more interest, buy-in, and most importantly, candor because it’s a discussion and not a sales pitch. This contributes to users pre-paying for a solution on the way or purchasing an incomplete product because they believe in you.
The life of any startup can be divided into two parts – before product/market fit and after product/market fit. – Marc Andreessen
The hardest question every startup founder has to ask themselves is: am I solving a real problem that people care about?
Family and friends will rarely give you this feedback. However, random customers, cold website visitors, social followers, etc. will.
Remember the $100 you wasted on ads? A positive response would have been clicks and conversions. Here they were responding by scrolling right past you and subconsciously saying I don’t know who you are, what you do, or the value you provide.
One thing that ads do very well is give you an influx of data. This data can be helpful as long as you have clearly defined goals and a well thought out plan of how these paid strategies will accomplish them.
One of the biggest problems with acquiring your early customers via Outbound Marketing (i.e., ads), is that you’re relying on a lot of things going your way. The content relevance, timing, audience targeting, interest level, product offering, landing page design, and more.
For all you know, the user could see your ad and then flip it into Airplane mode before a long flight.
That begs the question: how memorable is your solution? Once you turn your ads off, they stop being shown to your audience, which means no more traffic and no more data.
With a focused effort on Inbound Marketing, you can validate your hypothesis by connecting with your audience through high-quality content.
The first step in inbound marketing is research. This is not a gut feeling; it should be documented and organized into a spreadsheet.
Create your buyer personas, research the competition, define your value propositions, and list your marketing channels. Listing out your marketing channels is often overlooked and a key piece to the success of your inbound strategy. These are areas where you can directly connect with your users so the more you have, the broader your reach will be.
It doesn’t matter if you’ve deleted Facebook, hate podcasts, won’t go in front of a camera, or don’t know how Slack channels work. If your users are there, then it’s a potential marketing channel.
By ignoring a potential marketing channel, whether you like it or not, you are ignoring a potential customer segment and leaving the door wide open for a competitor.
One key note with Inbound Marketing is that users rarely convert after reading your first blog post. In today’s world, it’s common to have 5-7 touchpoints with prospects before they become customers.
Inbound Marketing’s value is not in the short-term sale. It’s about building familiarity and a future relationship with your customers.
Before creating any content, think about what problems the users have, broadly speaking. They are trying to generate more leads, sell more widgets, communicate their value, connect with a community, improve their bounce rate… you name it! Your customers have 100+ problems whether they are aware of all of them or not.
Here’s what to measure in the beginning:
If you’ve been contributing to the online community and connected with them on the topic ahead of time, they are much more likely to read your content.
The goal of your inbound marketing and content creation should be to provide something of value that will help your users. That means focusing your content on their problems, not just your product. Remember, it’s a conversation. If you only talk about yourself, you’ll resemble the classic high school quarterback who almost won state, and is still talking about it at the reunion.
Don’t be that guy.
Also, everything does not need to be 2,000+ word blog posts. Asking the community a question is actually one of the best ways to source ideas, pain points and feedback – it all goes back to the PMF.
Make it a point to be active in these communities and if someone doesn’t +1 your post or link, that’s okay. It’s still going to be seen by a lot more people and over time you’ll get better about what and how to post. But you’ve got to start somewhere.
Now that we’ve got our plan in place, let’s look at how to actually execute the tasks.
How I validate content
There’s no telling what will get you in the zone or not, but the key here is not to force it. If it doesn’t feel natural on your side, it won’t to your audience. If your keyboard is not on fire from how fast you’re typing then work on something else. Go back to validating the topic or engaging with your audience until you’ve hit something that clicks.
From a technical standpoint, it’s always good to have a few tools to run your content through:
Lastly, have a core group that you can rely on for peer reviews and honest feedback. If you don’t have anyone in your corner. Find someone, anyone!
Go back to all of your family/friends who’ve promised you, ‘Hey, if you ever need anything, just ask.’
Or better yet, find someone in the communities you’re now active in!
Online communities give you much more honest feedback
After all, they’re your target audience and likely to enjoy being a part of the creation process.
Now, once it’s ready to go…
One of the most common pitfalls for content creators is not promoting enough.
Publishing your blog to your website won’t get it done. Period.
You’re serving up a meal over here and if you think people are going to get good smells and whiffs from down the street, you’re fooling yourself.
Now, your job is to go back to the channels where you validated the topic and inject your piece into the conversation.
This only works if you Search, Engage, and Validate first. If you drop a blog post into a comment thread where no one has heard of you, you have no credibility or relevance to the discussion and will be ignored or worse, flagged.
It’s no different than sitting down at a new lunch table and before taking a second to look at who’s around you, start yelling about only what you care about.
Google has built a reputation on providing us with great search results, and they will protect their reputation at any cost. They protect us (the public) by not letting anyone cheat their way to Page 1 so it’s on you to promote it and drive traffic back to your website.
After you have created some content and built a few connections, head back to Google Analytics and review each Key Performance Indicator (KPI). Depending upon how much traffic you’re able to drive back to your site, you may or may not have enough data to draw real conclusions.
After you have created some content and built a few connections, head back to Google Analytics and review each KPI. Depending upon how much traffic you’re able to drive back to your site, you may or may not have enough data to draw real conclusions.
Pro Tip – Update your content based on feedback from the larger audience. Ask for feedback or things you may have missed. You can always go back and change the title, excerpt, blog content, etc. Just be careful about changing the URL because if anyone’s linking to your post, you’ll want to be sure future users find your post and not a broken link or page not found (404) error.
Remembering that it will take 5-7 touch points before someone converts; how many times have you engaged with your customers?
I find it interesting how quotes you hear as a child become more relevant as you get older. ‘If it were easy, everyone would do it!’ Looking at the stats, running a business is hard work – and that’s what Inbound Marketing is. Hard work.
The companies winning today know their customers through and through and have built a relationship with them over time. Every company has to start somewhere so I ask you, ‘Do You Know What Your Customers Really Want?’