Marketing

If you hear people complaining about a waste of money, prohibitive costs, compliance, or the wrong people working on the wrong things, you’ve found a resource-related problem.

Self-Related Pains This group of problems is often overlooked. Everyone wants to be notable somewhere. This can mean holding a position in a company or being regarded as a supportive co-worker or friend. When people struggle with achieving these things, they feel self-related pains. The four essential concepts to look out for here are Reputation, Accomplishment, Advancement, and Empowerment.

Do They Know? The Problem with Problem Awareness When you’re conducting interviews with customers, you will hear them talk a lot about the problems that bother them. These are the known knowns. But your prospects will never be able to tell you about the issues they don’t realize they have.

Efficiency What keeps you from being more efficient at work? Why can’t you do more of what you do? Which tasks feel like they are a drag? Effectiveness What limits you from doing your job the right way? Which tasks are the most pointless? What annoys you about working with competitive products? What is your experience like with each of them? Financials Where are you spending too much on tools? Where are you spending too much on consulting? What is your budget for software tools? What is your budget for outsourcing work? ...

Entrepreneurs are good at coming up with ideas. We envision solutions to the problems that trouble the audience we have chosen to help. We think deeply about a problem, mentally shape a product, and see how much it would benefit the quality of life. Then we get to work and build the prototype, eager to release it as soon as possible.

A good question here is, “At what stage of your workflow will you be using this solution?” Throughout your solution validation conversations, you want to project a clear interest in solving your customer’s problems without causing new ones. If you communicate this clearly in each call, you will create goal alignment between you and your prospect: you both want a great solution that makes things easier for the customer.

Asking the Right Questions: Focus on Problems not Solutions When you talk to your customers or prospects, you will find that there are questions that always produce meaningful results: where they are now? Where do they want to be? What stands in the way of getting there? Essentially, this is applying the jobs-to-be-done framework to your communication strategy, trying to find their realistic and aspirational states, and then building a solution that allows them to go from one state to the other. ...

Sometimes we look for immutable things like age or gender niches. Other times the specifics we’re interested in are fluid things like preferences or experience levels. Some niches can be large enough to contain millions of people, and others might just consist of a handful of individuals.

The makers of Bud Light spend more than $1.5 billion every year. They do that because they need to be present in the mind of every single shopper when they think of getting a beer.

What unites all niches is that they are inclusive of some and exclusive of others. The members of the in-group will be reasonably similar, depending on the specificity of the niche. That’s why niches work so well for bootstrapped businesses: if you can provide a tool that solves a niche problem very well, you can be sure that everyone in the niche will be interested in it. ...

A craft beer company might put up flyers in a local pub that is serving lots of craft beers, or allocate a budget to exhibiting at beer festivals. A niche business will market to its niche and no one else.

If you filter a large group of people by several specific properties, you will end up with an audience that shares those properties. As a result, these people will also share many other things that can make building products and selling them very convenient.

From a goal, you can usually infer a problem that is in the way of your customers’ path to success. Solve that problem, and you can help everyone in the niche reach their goals.

People in your niche will likely have the same problems. If they love fantasy football, they all need to keep track of their teams. If they enjoy fly-fishing, they all need to find information on where to fish and how the weather will impact their chances of a catch. If you spend enough time investigating the problems of your niche, you will sooner or later surface their critical problems. These are the things that are common roadblocks for everyone in the niche. Solving that problem with a dedicated product will allow you to have a high chance of success with your bootstrapped business. ...

You can become a tribal leader yourself. There is ample room for many leaders within most niche tribes. In such a position, you are considered an expert who also offers products specifically designed for members of the tribe.

Shared interests will allow you to speak to the needs of your niche audience directly. Creating content that has a lot of impact and will be read by a lot of people will be easier, as there is less competition for your audience’s attention.

People derive their identity from belonging to a tribe. If you can position your business in such a way that makes your product something that “people in our tribe use,” then you will have a guaranteed sales funnel for as long as your niche exists.

Partnerships in niches become a much more lucrative endeavor. Additional exposure and reach results in quick win-win situations, where both partners can significantly boost both their customer base and their reputation as an expert in the niche. Partnering up with other players in the niche allows you to reach customers at different stages of “niche proficiency,” increasing the breadth of your sales funnel. ...

If you lead a tribe, it will eventually do the marketing for you. A large following will amplify your messages with a lot of reach, giving you credibility and encouraging newcomers to become customers so they can belong to the tribe.

She became an advocate for the needs of these teachers, and they followed her actively on social media, engaging in conversations, spreading the word, and, best of all, even defending the company and the product against people who dismissed or publicly disliked it. That’s the power of a tribe.