Traction Buchzusammenfassung - das Wichtigste aus Traction

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Zusammenfassung von Traction

Name: Traction
Rating: 4 (63 reviews)
Author: Gabriel Weinberg and Justin Mares

Gabriel Weinberg and Justin Mares

A Start-Up Guide to Getting Customers

4 (63 Bewertungen)

18 Min.

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Entrepreneurship Small Businesses

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Traction
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What’s in it for me? Get traction for your start-up.

Picture a car stuck in deep mud, its wheels spinning and spinning, sinking deeper into the dirt. Now picture a tank arriving beside the car, its tracks easily gripping the ground, propelling the tank through the mire with no problem at all.

What’s the difference between the tank and the car? Traction. It doesn’t matter how good your product is, or how high you rev the engine: if it isn’t equipped to tackle the tough conditions where new companies fight for a market share, it’ll never lift itself out of the mire.

So is your start-up going to be a tank or a car?

These blinks explain the authors’ key insights into the traction channels that will become your start-up’s caterpillar tracks, propelling you ahead of the crowd.

After reading these blinks, you’ll learn

why having a good product won’t guarantee your start-up’s success;
how Google’s early partnership strategy won it more users; and
how to use social media for traction without annoying people on Twitter.

Start thinking about traction early on by growing customer demand for your product.

Countless start-ups launch every day, but only a fraction succeed. Why? The answer lies in traction: the growth of customer demand for a product.

Traction is crucial because the defining metric for any start-up is its growth rate, and this growth can only be driven by a corresponding growth in consumer demand.

However, the amount of traction your company needs depends on the stage it’s reached. Early on, even a handful of new customers count as traction, but by the time you have a customer base of 10,000, only increments of thousands will work.

Another key to understanding traction is that it isn’t just about a good product; it also depends on solid marketing strategy. Many mistakenly think that a great product is all that’s needed to attract customers. However, this is almost never true. Your product needs to be marketed to the right audience in the right way.

Nonetheless, what you’re selling is still important. Split your time 50/50 between product development and traction. By devoting time to traction early on, you’ll also get valuable feedback that will help you further develop your products.

For example, when Dropbox started out, they tested search engine marketing but quickly realized it was too expensive: gaining a single customer cost twice the amount they made from a subscription! Luckily, they had time to experiment with cheaper and more effective viral marketing strategies.

A final advantage of thinking about traction early on is that it builds useful experience and allows you to grow quickly once the product is ready. For example, marketing software company Marketo started blogging about their product long before it was fully developed. This led to a better product thanks to the feedback they received, but also resulted in a ready-made customer base of 14,000 buyers on the day they launched.

So how does your start-up build traction? Read on to learn about proven techniques.

Don’t discount traditional media – a great PR campaign can locate new users.

How do you start building traction? The key is to create a traction channel, that is, a way to market or distribute your product.

In order to achieve this, consider both traditional public relations, like stories in newspapers, and unconventional PR, like flash mobs centered on your product.

Use social media to encourage traction and build a stable customer base.

Social media isn’t just for sharing pictures of what you ate for lunch; it can also get your start-up a lot of traction.

The first way to achieve traction through social media is via viral marketing: encouraging your existing users to refer new ones. Once you start the ball rolling, it gathers its own momentum. It’s all about encouraging your users to refer other users to you – and ultimately growing your customer base in an exponential way.

Online advertising allows you to target potential customers and raise brand awareness.

How can online advertising help you gain traction?

The first factors to consider are Search Engine Marketing (SEM) and Optimization (SEO).

Partner with others to gain more traction.

You wouldn’t start a business without a support network, so why market without one? Partnering with other companies in a mutually beneficial way is called business development, and it’s a clever way to build traction.

Google is a great example of a company that leveraged partnerships to become a worldwide success. In 1999, it partnered with Netscape and Yahoo! by becoming the default search engine for the former and improving the search results of the latter. It was a win-win situation, as Google enhanced these sites’ search capabilities and itself gained many new users itself in the process.

Email marketing and traditional sales remain important ways to gain traction.

Sometimes the most obvious methods are also the most effective.

Email, for example, is still a powerful traction channel for reaching customers, especially those who’ve expressed interest in your product. It’s personal and gets you the undivided attention of prospective buyers.

The most effective sales strategies involve trying multiple traction channels and being open to change.

Each of these traction channels have proven effective for different companies, but which is the best for you? Well, it’s important to keep an open mind – don’t rule anything out in the very beginning.

Try the Bullseye Framework, a five-step tool to find the best traction channel for you:

An effective traction strategy is pivotal for the success of your start-up.

Traction will determine the success of your start-up. This is why you should take some time to develop a well-thought-out strategy. To do so, set clear and specific goals and frame your overall strategy around it.

For example, when DuckDuckGo wanted to become a serious player in the search engine market, the company determined its traction goals, including the number of people it wanted to be using their product as their primary search engine, and how many searches per month should be completed (in their case, 100 million).

Du möchtest die gesamte Zusammenfassung von Traction sehen?

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Worum geht es in Traction?

Traction (2014) explains why the success of every start-up depends not only on its products, but on the customer base it builds. Weinberg and Mares present proven methods for gaining customers, and help you choose the best for each growth phase of your company. With a bit of Traction, you’ll win – and develop – the audience your product deserves.

Bestes Zitat aus Traction

Traction is the best way to improve your chances of start-up success.

—Gabriel Weinberg and Justin Mares

Wer Traction lesen sollte

Founders and business owners
Anyone thinking about launching a start-up
Marketers and public relations professionals

Über den Autor

Gabriel Weinberg is the founder and CEO of privacy-oriented internet search engine DuckDuckGo. Justin Mares is a start-up founder with expertise in mobile health and 3D printing. Both have been directors at start-ups that sold for eight-figure sums.

Kategorien mit Traction

Entrepreneurship

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