This is an excerpt of my Audio post. List to the entire story here
- The way I look at it, as the internet gets the cost of distribution to zero and compute solutions from Amazon and Google get cost of starting up to zero, there is a rise in products that do the same thing, i.e. abundance
- Due to abundance, competition is very high. In such a high competition environment, it is hard to grow. My biggest learning in such an environment was, marketing is way more important than sales.
- Reason 1: The internet has flipped the buyer model. People inherently search for solutions for a problem and self-select a product.
- Reason 2: Until a problem is not important enough to be solved, people don’t want a solution. So, sending your best sales guys to such a prospect won’t help
- Another point to note is that more solutions move towards a freemium/Free to try products, sales teams lose as they are inherently are in conflict with the model
- In such a scenario, the job of marketing then becomes 2-fold
Working in start-ups is one of the best ways to learn something new. Even more so when there is a lot of competition. Analytics is one such space. We tried getting Pure Metrics off the ground for a year but found no traction. But learnt a lot. Here are the bullet points to my audio post
- Make people aware of the problem exists, which is where content plays a massive part
- Make people aware there is a solution, which is their product
- All this makes your branding efforts all the more important, in the world abundance, users are loyal to the brands