This question originally appeared on CoFoundersLab: The dreaded 'How will you get new users?' question...
Answer from David Eedle, Co-founder, ScaleUp Partners and former Deputy Director of Innovate Oregon
This is one of those questions along the lines of “How long is a piece of string?” Here’s why: You are creating a consumer product, but however amazing it is, the market for the product will not be every consumer in the world. So, by default, there are segments of the market that may be interested in purchasing your product.
There are a couple of points made by others on this subject that I'd like to reinforce:
- You need to develop customer profiles so that you understand who is going to purchase your product, as well as why and how they’ll buy it.
- You need to start building a pre-launch community of potential customers.
If you’re building a B2C product, I'd really hope you are having conversations with actual potential customers, testing an MVP on them and exploring and refining your product against customer feedback. If you are going at it alone, it would be highly advantageous for you to bring on a consultant with with sales and marketing skills in your space/vertical/market.
Some might make the point that investors will want to see you exhibit a clear understanding of your market, as well as what that market wants. Armed with that knowledge, you should be able to start compiling a plan for entry into the market and grow your sales there.
I can assure you the “mousetrap” theory does not work. You are unlikely to have the budget to go all-out on sales and marketing, so you will need to be guerilla. You need to be inventive. And brave.
The dreaded 'How will you get new users?' question... originally appeared on CoFoundersLab — the place to connect, meet, and collaborate with like-minded entrepreneurs.