This is my longest blog post to date. It’s a 22 minute read. The wealth of information in this post is super rich. If have the chance to read it, you are going to learn a lot.

A lot of startups fail because they can’t get early traction. In the early stages of a company’s development, the focus is usually on creating a product to address a need rather than getting the word out and making sales. It makes sense to develop a product, but that isn’t enough to bring in revenue. Given the stakes, knowing where to look for your first 5,000 customers would be invaluable.

You don’t have access to volumes of data in spreadsheet form, you don’t have pre-existing market segments, and you don’t know who will buy your product. Simply put, you are experimenting with many approaches to see the most promising ones.

Attracting your first 5,000 customers requires a blend of marketing and customer development strategies. Each strategy should have its ultimate goal, not just acquiring a new client but also learning more about that consumer and what they care about. Knowing your most loyal customers is essential for increasing your return on investment.

Most startups immediately resort to paid promotion when striving to attract a steady clientele. However, there are several strategies to get initial traction, such as piggybacking on the popularity of others, participating in online communities, focusing on the appropriate social networks, and so on.

Read the full article here