The other day I came across this quote in an article by VC Mark Suster, and it was so SPOT ON that I’ve been repeating it to anyone within earshot since:
“In a world in which you’re encouraged to launch early and get feedback from customers, you can often confuse “product launch” with “marketing.” – Mark Suster
This made so much sense to me, because it’s a confusion I often see startups making.
Are you marketing, or are you product launching, or…both?
Stop doing both!
In hardware environments, product launch and marketing are essentially the same thing. If your product is ready to be launched, it’s ready to be marketed.
Software is a much more dynamic environment. In software, there is ALWAYS an opportunity to iterate on your product.
For that reason, your product launch aim is NOT to make money. The aim is to gain feedback!
SO…Your product launch should be cheap as chips. You don’t need to pump $20k – $100k into marketing your MVP.
Let’s dig into this a bit more so you understand whether you should be product launching, or marketing.
In this episode I’ll cover:
- The fundamental difference between product launch and marketing, and how to know where you’re at right now
- Why startups that expect to make money upon product launch are DELUSIONAL (or just anomalies)
- The 3 stages of the startup lifecycle, and where marketing (ie: generating $$$) fits into it. Yes, you will make money eventually!
- The 5 “make or break” factors you need to focus on once you have product launched (plus tips to ensure you’re mostly in the ‘make’ group)
- Not self-funding? I briefly touch on where seeking investor funding slots into all this.
Hope that’s been helpful. Please subscribe to this podcast for more tips and tricks on how to build and grow a business in the tech space. I’ll see you next week!
Put together a powerful marketing plan with our startup marketing template below…
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