We are not able to get new customers…
I was a very bright student in University always getting good grades. One day I was helping my friends with their assignments.
And? Eureka moment…
Got an idea, why not open a business – “Helping students with their assignments and dissertation”
Boo, I jumped in, I started preparing material, built one blog, bought plagiarism software and wrote sample assignments to show to my potential customers.
I was so excited, I poured in my heart and energy to set this up and I was ready to make money and successful business.
Do you know what happen next?
No one came to buy the service, my dreams were shattered.
- Product positioning was horrible
- I haven’t checked the product/market fit
- I haven’t done customer research
- I haven’t checked the demand matrix
- And most importantly, I haven’t built the audience.
Here’s the thing:
Growth hacking for a new customer is not a science. It is about smart and creative use of technology and marketing that ultimately will grow your customer base or will get you a new customer.
According to Forbes, 90% of new business or start-ups FAIL; that’s 9 out 10 businesses fail. I have seen so many entrepreneurs that are passionate and have a GOOD business idea.
…but still they fail because they don’t do FRONTLOADING WORK.
They get OVERWHELMED with things hanging around them. Many people ask me questions such as how do I get traffic, which A/B testing tool is powerful, how to do remarketing…
We don’t want to do that. All of these things are important and I do use them all in my business and my client’s businesses but, at the right stage of the business.
I believe in proper GROWTH HACKING SYSTEM. The system that chews everything step by step at the right time and at the right place.
This is what I want you to do
If you are planning to open a NEW business or if you are already in a business and are not getting new customers, DON’T WORRY because I will teach you how to get new customers.
Growth hacking works out in 2 phases: before and after Product/market fit.
Product/market fit means being in a good market with a product that can satisfy that market. You can always feel when product/market fit isn’t happening.
Your business’s sole and ONLY goal in the beginning should be finding product/market fit.
Once the product/market fit is achieved then it is time for the customer acquisition and growth campaigns.
And after the growth phase is achieved your growth campaigns need to focus on repeatable customer acquisition process.
But you will ask, Chintan How?
Sure, let me break it in a simple form –
Before Market fit: your duties are:
- Check demand using demand matrix (It is simple and I will show how to use it)
- Find your target customer and do survey. Ask them what they are looking for.
- Then search for customer patterns in those survey results.
- Find the ways to improve the product which will ultimately appeal better to your potential customers.
- Find which distribution channels are worth and producing great results.
- Raise, if you need to raise more money for your business.
After Market fit: your duties are:
- Start learning more about your customers and the way they are using the product.
- Need to find what your customers are benefitting from.
- Create a system now that will do all of these actions on repeatable basis to acquire more and more and more customers.
Easy peasy. And if you do this, you’ll never say WE ARE NOT ABLE TO GET NEW CUSTOMERS.
I did the SAME after my first business failed. I quickly realised the problem, found the growth hack and I’ve never looked back since. And today I have a very successful business.
Let me know what is the biggest takeaway from this lesson in the comments below.