• Arsene Lavaux (@renaissance17)

    Bonjour Pierre,

    Here are two cents on your interesting question.

    I'd say that the two are related. But I believe there are ways to determine if the problem lies on the product/market side or on the marketing side.

    When you look to go to market there are three actions that are crucial in my opinion:

    > Segmentation: how you assume your target market is segmented, generally, you have quite a few possibilities because different angles of your products can be perceived as different unique value adds to a given target segment.

    > Targeting: you pick the core unmet need to a core customer segment which you believe is going to be wowed by your unique solution to the problem you think they have (ideally, you have observed that problem without asking them anything, and that's why you created the solution -- "empathic design" some entrepreneurs call that).

    > Positioning: by your creative marketing magic you go about shaping up with marketing assets (copy, images and so on) the way you want your target customer to perceive the benefits, the unique value proposition, of your product/solution. It's purely psychological because it's pre-sale, pre-use and your are creating, ideally, an emotion in the target customer's mind (emotion is key, even for tangible product think about Jobs saying "a thousand songs in your pockets" when launching the first iPod...) to "call to action".

    Let's assume you nailed down the marketing side and you now have a crisp messaging designed to reel in a core target. And you go out to market - do some high tempo ICE growth hacking for example, use the low variable cost channels (social, seo) and expand into pay channels if you have budget to accelerate the learning if needed.

    And nothing happens after you tested out 300 ideas which include iterating on the positioning of your product... You have seen engagement but few repeats, and even less customer advocacy.

    Well, in that case, I'd say that you have a product-market fit issue. Not that your growth hacking strategy is not well executed. Instead, you may need to challenge your product - maybe based on the feedback emerging from the target segment you went after, you see where you need to evolve its value in the target segment's eyes.

    And then, if you go back to market, in the same way as before, with a "feedback-evolved" product and you see 2-digit growth, you had a product-market fit issue on the product side for that market.

    But you could also have a product-market fit issue on the market side. And it can be cheaper to test out that hypothesis since you just need to change out your messaging (assume you don't do high cost legacy marketing at $50k a print ad per publication, that you do mostly social/organic hacks) and change the target: #soccermom instead of #dj.

    The above is for an early stage startup. Now, if you are doing growth hacking at an established, larger company, where it's hard and time consuming to evolve the product, you can see if marketing is not doing a great job. In that case, you look to benchmark the core marketing metrics, start on the digital side (based on experience or industry benchmark), and you can generally see that. And do better marketing to drive growth. Some companies never really achieved product-market fit in the startup sense of the term and made tons of money based on six sigma operations and looking to improve their marketing mix only (little culture of product innovation/cash to do that). Here again though, the product is clearly part of the problem with big marketing dollars looking to smoothen out the latent friction between the product and the market...

    To summarize this novel: I think the two are deeply interwoven since anyway "product" is a key pillar of marketing but if you build agility in your growth hacking operation, you can identify faster the pitfall and increase the odds of fixing it. You can iterate how the P "Product" is perceived on the same T "Target" - this may not require any product changes, could be just which core unmet need you focus on for that T. Or iterate the T on the same P. In both cases, you are going to need to tweak your marketing messaging anyway, the way you position your solution, unless you believe two distinct segments have the same core unmet need.

    It's possible!

    Looking forward to other thoughts from this amazing GH community.

  • Gail Gardner (@GrowMap)

    You actually change videos on the fly? While they're playing?

    [7:57:24 PM] Chase McMichael: Kraken has a bigger upside since we're linked on revenue

    [7:57:59 PM] Chase McMichael: we change out the thumbnails on the fly to figure out what image works the best and then will animate the top 4 in a diffrent sequence to get higher engagement - its done all at scale

    [7:58:52 PM] Chase McMichael: the thumbnail is a lead image that is usually larger or seen in the player

    [7:59:11 PM] Chase McMichael: the image is used in different places once we find the top performer

  • Steven Pesavento (@StevenPezz_32)

    Looks like I have a lot to read before the AMA!

  • Tara Reed (@TaraReed_)

    When I launched the MVP for my startup, I used Zapier to power the backend of my 'app'.

    Blogged about it here

    Used the MVP to start bringing in revenue & get into 500 Startups' accelerator program as a non-technical founder.

  • Arsene Lavaux (@renaissance17)

    Hi Kobie: Looking forward to your growth hacking sprint tomorrow :)

    Thanks for leading this AMA.

    Imagine your are a founding stage startup entrepreneur working on a minimal viable product to validate product/market fit as quickly as possible on a shoestring budget. And you need to understand the relative importance of the following levers of growth to focus on the right thing:

    #1 The design of your product from an aesthetic standpoint (UI)
    #2 The design of your product from a usability standpoint (UX)
    #3 The unique value proposition of your product in the eyes of what you believe to be your core target customer

    On a scale of 1 to 10 where 1 is not important at all and 10 is very important, how would you rank each item above?

  • Dan Ewah (@DanEwah)

    I already do Content Curation on my Blog, but I learned a new and creative way to add to my content curation efforts that I never thought of before now.

    I'm glad I settled to actually read this post.

    Thanks Erik for sharing.



  • Neeharika B. (@neewho)

    Text actually works quite well, but it does need to be personal (rather than spammy). We've had companies tell us that they were seeing 66% response rates vs. 5% on email, and 98% increases in sales (for e-commerce). Mayvenn, in particular, uses SMS & MMS very well, and their use cases are highlighted in this article I wrote a while back: http://blog.sendsonar.com/2015/06/19/how-mayvenn-grew-its-community-using-sms/

  • James Ross Treacher (@jrtjrtjrt)

    I agree with you here also