Channel Strategy

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

Scale Overview of 26 channels Execution is everything . Lean testing 5. Take shortcuts to gain accelerated growth for your products Find your 'silver bullet' growth hack (maybe) Intro: Channels Strategy 1. Good to see that you joined us to learn how to become a better entrepreneur. Consider all options 3.What 's in t he course Hi. Identify constraints 2. Prioritise 4. 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. Get to profitability 6.

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. If 's based on the book 'Traction' (but unfortunately most entrepreneurs don't find time to read books). This system is our adaptation of that process and makes it even easier to execute.Channel St rat egy An introduction to the traction system There are so many growth channels. 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. '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. that your team can execute on New. . If you execu t e t h is f r am ew or k you?ll get: - A crystal-clear traction channels roadmap.

once you?ve got 10. as long as you get their feedback. you?ll want another 10. Identify your unique constraints to gain clarity & focus. it?s just getting those first few (paying) customers through the door. 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. However. Therefore every growth campaign is also different. at every different stage. Once you . The costs to acquire them don?t matter. has different targets & constraints. 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.1 Ident ify const raint s Traction channels don't exist in a vacuum. Your traction channels need to fit with the rest of your business model. At first. or maybe 100.

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

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

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

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

You?ll likely spend most of your time here. test? Then test some more. You?re done when you?ve found a channel that satisfies all your constraints and has numbers that make it profitable. test. 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. but at least there?s something here? Act ion It em s: - Double down on your success. Don?t waste time anywhere else. Test. Focus on what works. In practice this is the biggest (and most important) step of the 6. .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.

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

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

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) . 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.g. Organic rankings in Google.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. 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.

street sales - Can be expensive. 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.e. social media. Cont ent m arket ing :: producing valuable free content to acquire customers (blogs. f.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. 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. 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? . do you have enough budget? Do you have a way to ?run into?relevant audiences? Usually comes with operational headaches. Field m arking :: going out and meeting your customers.

g. 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. 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. 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.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.q. .e. 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.

We call it the Hu st ler s M BA. You can learn everything you need to become a growth hacker and a better Entrepreneur. . but it's time to step in the ring and take action.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. and we'll gladly provide you with feedback. This ebook is part of our strategy track. tips & critical comments. Growthcasts is the CodeAcademy for Growth Hackers. On the next page you can find more info about that track. If you've done with your channels analysis always feel free to email it to us. You now have the knowledge.

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.