Channel Strategy

Step-by-step Guide to
finding the right channel
for your business

Prioritise 4.What 's in t he course Hi. Get to profitability 6. Identify constraints 2. Scale Overview of 26 channels Execution is everything . Take shortcuts to gain accelerated growth for your products Find your 'silver bullet' growth hack (maybe) Intro: Channels Strategy 1. Consider all options 3. In this ebook you'll learn the Traction System you can use to achieve the following: - Gain more clarity within your channels strategy Stop wasting time on strategies that don't deliver the results you're looking for. Lean testing 5. Good to see that you joined us to learn how to become a better entrepreneur.

If you execu t e t h is f r am ew or k you?ll get: - A crystal-clear traction channels roadmap.Channel St rat egy An introduction to the traction system There are so many growth channels. 'Many entrepreneurs who build great products simply don?t have a good distribution strategy' Below you'll find a 6-step process and 26 different traction channels. If 's based on the book 'Traction' (but unfortunately most entrepreneurs don't find time to read books). But which one will work for your product and business? The Traction System gives you with a clear step-by-step process to find the right traction channels for any sort of company. that your team can execute on New. This system is our adaptation of that process and makes it even easier to execute. . better & powerful growth marketing ideas Your odds at driving explosive product growth increase 5-10X A system you can repeat again-and-again with your own companies and client companies alike.

you?ll want another 10. it?s just getting those first few (paying) customers through the door. at every different stage. or maybe 100. Your traction channels need to fit with the rest of your business model. Identify your unique constraints to gain clarity & focus. The costs to acquire them don?t matter. However. Once you .1 Ident ify const raint s Traction channels don't exist in a vacuum. Here's some things to consider: - How many leads / signups / customers do you need? What can you afford to pay per customer? What is the right kind of customer (= target audience)? Every business. Therefore every growth campaign is also different. once you?ve got 10. At first. has different targets & constraints. Im por t an t : Your targets are part of your constraints! Always remember that this step comes down to answering 1 fundamental question: When do you consider this campaign a success? At different phases throughout your companies lifecycle you?ll have different goals. as long as you get their feedback.

Double-check by answering the Nr. And a better sales funnel. And better onboarding & retention. You can now clearly see that constraints (targets & other limitations) change over time. Focus on the now. You can write a separate set of constraints for the next stage(s). etc. Some opportunities exist early but don't scale very well. 1 question: "When do you consider this campaign a success?" . And better everything. But there's also some positive news: by the time you have 500 paying users you'll most likely also have a better product.have 100 paying customers you won't really be happy anymore with just 10 extra. Don't overdo it though. etc. You find yourself looking for ways to acquire the next 500 users. Act ion It em s: - Identify your targets & core constraints that you face right now Constraints change over time. Those higher targets make your job increasingly harder. That barely moves the needle. Other options only become available once you get bigger.

Act ion It em : - Brainstorm each of the 26 channels individually. Here?s the thing: all those biases are holding you back.2 Consider all opt ions In the bottom of this document you'll find 26 different traction channels. Give everything a fair shot . Maybe you have wide experience with SEO. otherwise they wouldn?t really be channels at all. or you think sales is only for selling bad products. You want to brainstorm and consider reasonable ways to use each given channel. Every entrepreneur is biased. and ? consciously or unconsciously ? favours certain channels over others. Before you let your gut feeling take decisions. In this step you want to go wide. or you know that Facebook ads don?t work because your friend tried it for his startup and wasted thousands. Therefore you need a systematic approach to overcome and counterbalance your biases. Get all the options on the table. stop for 5 minutes and consider the pros and cons of each channel. Give every channel a fair chance because each of those channels worked at least for some startups.

But since you can?t focus on all it?s important to prioritise. Note that down as well. Because of limited resources you only want to make bets on channels that are most likely to work. . Run through all the channels again.3 Priorit ise From your brainstorm you?ll likely have a bunch of channels that you think might work. Act ion It em s: - Make a top-3 for your current goals & constraints. The book Traction calls this the 'bullseye framework'. and pick your top-3 for each set of constraints. Put them in order of likeliness to achieve your goal. Ideally you want to find 1 channel that allows you to hit your target at once. Some other channels might work at later stages.

You only want to confirm your assumptions and validate that indeed these channels can give you the traction you're looking for within your constraints. This is where the real growth hacking happens.4 Lean t est ing We're done with the theoretical part. . Rinse & repeat until you hit gold. It?s time to go out and run tests in the real world. because you?re not looking for traction yet. Run a small-scale test with the aim to prove that this channel can bring you the traction you're looking for. You don?t need to do big investments to run these tests. Act ion It em s: - Pick your first most-likely-to-succeed channel. Test Passed: If this channel starts getting the results you're looking for move to the next step Test Failed: If you don't see the results you need. This is the stage where we're gonna get our hands dirty. then ditch the channel and move on to the #2 channel.

5 Get t ing t o profit abilit y Sooner or later you?ll find something promising ? you?re like a gold digger finding it?s first real scraps of gold in a deserted creek. . Don?t waste time anywhere else. In practice this is the biggest (and most important) step of the 6. but at least there?s something here? Act ion It em s: - Double down on your success. test. test? Then test some more. Keep pushing to bring your acquisition costs down and find something profitable. You might be on to something here! It?s not a profitable goldmine yet. Test. You?ll likely spend most of your time here. You?re done when you?ve found a channel that satisfies all your constraints and has numbers that make it profitable. Focus on what works.

. move back to step 1 and execute through the growth cycle again. Now it?s time to bring in the big guns and get all the gold out before someone else does!! The hardest challenge is now over.6 Focus & scale You?ve found a hidden gold vein. Act ion It em s: - Double down on what works. Step out of 'testing modus' and shift gear into 'execution modus'. All marketing channels tend to become more saturated and expensive over time. By now it's time to set new targets. Over time new marketers will show up. Your goldmine is in full production. You want to move fast. and you?ve drilled down to the motherlode. but it?s a competitive landscape. Scale your channel as quickly as you can. whilst staying profitable with your campaign. Keep moving fast and get results while you can. the channel becomes more saturated and returns will decrease. but you're still hungry for more. whilst keeping numbers positive. Sooner or later your results will start to plateau. As long as it?s profitable keep scaling up. For this reason you want to scale as fast as you can.

Come up with 3-5 ways you could use each channel.The Channels Below is a list of the main traction channels. It?s worth spending 10 minutes on each channel. Can you meet those constraints with your product & business? M ovin g t h e n eedle ? Probably 1 channel is gonna bring 80% of your growth. In t h e n ext 3 pages we'll introduce you to 26 different traction channels. The most well-known channels are often the most competitive. Never dismiss any of these channels as irrelevant: fight off your biases and give every channel a fair shot. Can this channel be that channel? Br ain st or m ? We all have biases. When you work through them consider the following: - Cor e con st r ain t s ? these are the basic restrictions that this channel have. One top of those there's new ones emerging almost every month (so do some independent thinking as well!). whereas some obscure or 'unsexy' channel could be your saviour and ticket to boundless growth and company success. . but they can hinder growth.

Display and program m ing ads :: paid ads on websites and TV channels (online & offline) - Needs a wide audience that you can reach. Youtube & Amazon) - Are there enough people searching for relevant search queries? Paid ads are generally expensive.Adwords/ SEM :: paid search ads in Google (and other search engines like e. Can you afford to pay the CPC for these ads? Facebook ads - :: paid advertising on Facebook Is expensive: do you have enough budget? Do you have a relevant audience that you can target? Facebook organic - Do you have highly sharable content (or brand) to get enough engagement on Facebook? Twit t er organic - - :: organic advertising through Instagram Can you reach your audience here? Is expensive: do you have enough budget? Requires a lot of engaging visual content. Organic rankings in Google. Are there enough people searching for relevant search queries? Can you out-rank the competition? Can you produce enough content to rank for these key words? (Often through content marketing or user-generated content) . Is expensive: do you have enough budget? Bought out reach & guest blogging :: using a ?guest audience?to promote your product to (free of paid through % of profit) - Can be expensive: do you have enough budget? Are there relevant mailing lists and audiences? :: organic advertising on Twitter Do you have highly sharable content (or brand) to get enough engagement on Twitter? Are there relevant hashtags and audiences? LinkedIn ads - :: organic advertising on Facebook Inst agram Ads :: organic advertising on Twitter Is expensive: do you have enough budget? Can you reach your audience on job-based targeting settings? SEO - :: search engine optimisation.g.

long posts etc) - Does your audience want to be educated? Can you easily create content linked to your product? Do you have persistence and time? .Viral m arket ing :: Existing customers refer/recommend your product to others - Do you have high network effects? Do you have a high quality product? Word-of-m out h :: people willingly and freely speaking of your product with others - :: using your existing customers to refer new customers to your product - Do you have a (very) high quality product? Do they have engagement with an incentive? Have you established good channels to share on? You?ll need patience to optimise.e. social media. street sales - Can be expensive. Cont ent m arket ing :: producing valuable free content to acquire customers (blogs. Field m arking :: going out and meeting your customers. in print and through other offline media Do you have a (very) high quality product? Can your audience reach (hear) each other? Referral m arket ing Tradeshows & speaking Do you have a sufficient affiliate infrastructure? Can you provide the high expected earnings for affiliates? - Is expensive: do you have enough budget? Has a low iteration speed. f. Affiliat e m arking :: marketing through others with a similar target audience that promote your product to their audience - :: speaking at events and showing your product to industry leaders and insiders - Is there a significant volume of relevant events? Do you have engaging & relevant stories? Offline ads :: advertisements on billboards. do you have enough budget? Do you have a way to ?run into?relevant audiences? Usually comes with operational headaches.

q.e.g. Producthunt) that you can leverage? Do you have a core promise that resonates with your audience? Ret arget ing :: targeting an audience again that has already shown interest - Doesn?t work stand alone. budget? Do you have negotiation leverage? Engineering as m arket ing :: using free products to market your paid products - Is there a market demand for the free product? Do you have an easy link between the free product and the core product? Resellers & dist ribut ors :: external parties sell and distribute PR :: public relations focuses on establishing and maintaining a positive relationship between the company and the public - Is there enough relevant press? Do you have newsworthy stories? Can be unpredictable. Do you have another source for traffic? Requires some budget. Out bound sales :: you reach out to your audience through f. Com m unit y building :: create a community for your customers to interact with each other - Do you have an audience that wants to bond together? Influencer out reach :: leveraging the influence others have on your target audience and using them to promote your business - Are there enough relevant influencers? your product - Requires a reseller sufficient infrastructure.Part nerships & business dev :: closing partnership deals with other companies to market your business together - Can you find relevant partners? Do you have sufficient connections c. cold Direct ories & list s :: Leveraging the influence the other companies to promote your product through their lists - emails - Is very expensive: do you have enough budget? Do you have a B2B audience? - Are there enough relevant lists with a big enough reach (e. .

but it's time to step in the ring and take action. and we'll gladly provide you with feedback. tips & critical comments. . You can learn everything you need to become a growth hacker and a better Entrepreneur. Growthcasts is the CodeAcademy for Growth Hackers.The Hust lers MBA You've made it through the book! You've now set your first steps towards growth marketing mastery! But always remember this: - Execution is everything. If you've done with your channels analysis always feel free to email it to us. You now have the knowledge. We call it the Hu st ler s M BA. This ebook is part of our strategy track. On the next page you can find more info about that track.

Product - Rules of thumb Scaling :: Enterprise SaaS Scaling :: mid-size SaaS Scaling :: Apps & Consumer Products Scaling :: Marketplaces Scaling :: Ecommerce Bu sin ess Adm in ist r at ion f or St ar t u ps - The 5-man SaaS team Hiring Scrum Remote teams - Legal 101 :: vesting Creative fundraising Product/founder-fit . Overview Track Content: Advan ced Lean St ar t u p - Idea extraction Startup Plan Vision and Hustle Risk Roadmaps Problem Interviews Solution Interviews Low-fidelity MVP High-fidelity MVP Concierge Offerings - Ghost Selling Pre-orders 2-sided Markets & Ignition Risks - Fundamental Financials Pricing Case study I: Leansites Case study II: Growthcasts Case study III: 39Labs Gr ow t h St r at egy - Back -en d Bu sin ess Syst em s - Zapier Automation Advanced Zapier Business Systems with Trello Outsourcing with Mechanical Turk Outsourcing on Upwork VA outsourcing Brain back-ups with Evernote - - - Team communication with Slack Visual communications with Screenflow & Whatsapp Silk-smooth operating procedures with Process Street Uberman focus with the distraction killers Bullseye framework Identify constraints Moving the needle AARRR Retention (over acquisition) Focus & Creativity Traction vs.Hust ler MBA This ebook is part of Hustlers MBA.

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