Growth Strategy
This page outlines the strategy for Interweave to make money.
In general, we want our broader focus to always remember Chamath's three rules for growth (opens in a new tab):
- How do you get people in the front door
- How do you get them to an a-ha moment as quickly as possible
- How do you deliver core product value as often as possible
NCV Formula
This sales framework coined by Mercury founder (opens in a new tab) is how we'll approach selling.
Sales = N x C x V
- N = Number of attempts
- C = Conversion rate
- V = value of sale
Multiply those values together, and that is the sum of your sales. I like this formula because it makes selling a quantifiable process, with specific values we can optimize for.
N = Marketing, "The Funnel"
This will be the number one priority. Without sucking people in, we won't be able to effectively leverage the next two parts of the equation.
- SEO in product / public interfaces
- From X to Y conversions
- zod to interface
- OpenAPI to interface
- Postgres to interface
- Direct outreach
- Twitter to start searching keywords
- Free Advertising
- ProductHunt
- Tweets
- Paid Advertising
- Changelog blog
- Media
- Small videos / tutorials
- Written tutorials
To measure the effectiveness of these efforts, we'll have to implement page analytics. This will help us track page view counts and sources of traffic. That way we can optimize for certain strategies.
Prioritization Grid
With a quick prioritization grid, we can lay out the approaches on a plot of Impact vs. Effort. The lowest effort, highest impact strategies should be our first priority. The lower impact, higher effort strategies will be ignored for a while.
While there are a few items I'd like to have in the bottom-right quadrant, it doesn't make sense for me to pursue them right now. We'll have to wait until we have more bandwidth.
C = Conversion Experience, "The Honeypot"
This will be the second highest priority. A/B tests don't make sense until we have a statistically significant amount of people driving to our website. We don't have that yet, so we can hold off on implementing and testing that stuff.
- A / B test success of strategies above
- Design and user experience
- Excellent customer service
- Personalized success - doing things that don't scale
V = Product Sold, "The Catch"
Which customers we'll be able to catch depends on our product set. This is true, however, there are customers out there who already want what is currently offered. Start with finding those first, smaller customers, then scale up scope in-line with our feature set.
- Continue improving feature set
- Maintain pricing integrity and transparency