- Public Page Views: Track the number of views on users’ public pages.
- Time Spent on Pages: Measure how long visitors stay on the public pages.
- Engagement on Public Pages: Track actions like clicks on links, shares, and interactions with charts.
- Referral Traffic: Monitor where your traffic is coming from (e.g., blogs, social media).
- Conversion Rates: Measure the percentage of visitors who sign up after viewing an ad or landing page.
- Customer Satisfaction: Collect feedback through surveys to gauge user satisfaction and areas for improvement.
We should note that our users may not actively use the platform. For example I am a customer with Typefully and I love Typefully's product but they rarely see me actively on there as a user. It works and does the thing in the background. They could track me by using things like how many people are viewing my public page, what they are doing and how long they are there for.
What are our best traction channels?
- Targeting Blogs: Reach out to tech and social media blogs to write about Echosight.
- Publicity: Pitch stories to traditional media outlets about how Echosight is revolutionizing social media analytics.
- Social and Display Ads: Run ads on Twitter/X, Facebook, and Instagram.
- SEO: Optimize your website for keywords related to social media analytics.
- Content Marketing: Start a blog on Echosight with tips on social media analytics.
- 50 Percent Rule: Spend 50% of your time on product development and 50% on traction.
- Early and Continuous Testing: Test traction channels early and continuously to get feedback and iterate.
- Set Traction Goals: Define clear, measurable goals for traction efforts.
We should try running some ads on Twitter/X or checking out what it costs.
- Define specific goals such as acquiring 1000 new sign-ups in the next three months.
- Track progress towards these goals regularly.
Run Early Tests: Start with low-cost, small-scale tests of different traction channels to gather initial data.
- Example: Run a small ad campaign on Twitter with a budget of $100 to see the conversion rate.
Iterate Based on Feedback: Use the feedback from these tests to refine both the product and the traction strategies.
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Initial User Sign-Ups:
- Goal: Acquire 500 new sign-ups in the next three months.
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Daily Active Users (DAUs):
- Goal: Increase DAUs by 15% month-over-month.
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Engagement Rate:
- Goal: Achieve a 5% engagement rate on public pages (e.g., clicks, shares).
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Customer Retention:
- Goal: Maintain a retention rate of 70% over six months.
Three-Step Framework:
- Outer Ring: Brainstorm all possible traction channels.
- Middle Ring: Promote the most promising channels and run cheap tests.
- Inner Ring: Focus on the single channel that works best.
Given our platform is designed and built for Twitter/X and potentially Threads I think these channels are almost already chosen for us. We are most likely to acquire users on the platform that we are building for.
- Targeting Blogs: Guest posts on popular social media and tech blogs.
- Publicity: Media pitches to tech and business publications.
- Social and Display Ads: Ads on Twitter/X, Facebook, Instagram.
- SEO: Optimize for keywords like "Twitter analytics tool" and "public social media dashboard."
- Content Marketing: Start a blog with tips on social media analytics.
- Email Marketing: Create a mailing list for regular updates and tips.
I am under the impression none of our earlier users would appreciate much in their email. The attitude toward email marketing is that it is seen as spam. It is a hard one.
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Targeting Blogs:
- Reach out to 10 tech and social media blogs with a guest post pitch.
- Track referral traffic from these blog posts to your site.
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Social Ads:
- Run a $100 ad campaign on Twitter/X.
- Measure the cost per acquisition (CPA), number of clicks, and sign-ups.
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SEO:
- Optimize the website for a few key phrases.
- Track changes in organic search traffic and sign-ups.
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Analyze Results:
- Identify which traction channel performed the best in terms of CPA, reach, and customer quality.
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Optimize Core Channel:
- Dedicate resources to the top-performing channel.
- Continuously experiment and refine strategies within this channel to maximize growth.
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Identify Metrics and Set Goals:
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Chris and Dean: Define key growth metrics and set specific, measurable traction goals.
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Example Goal: Achieve 1000 new sign-ups within the next three months.
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Brainstorm and Document Ideas:
- Both: Spend a brainstorming session listing ideas for each of the 19 traction channels.
- Document: Create a spreadsheet to document these ideas along with potential cost, reach, and relevance.
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Run Small-Scale Tests:
- Allocate Budget: Decide on a budget for initial tests (e.g., $500).
- Execute Tests: Run small-scale tests on the top 3-5 channels identified during brainstorming.
- Track Results: Use a shared document or tool to track the results of these tests.
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Analyze and Focus:
- Review Results: After the testing period, analyze the results together.
- Choose Core Channel: Identify the most promising channel based on cost-effectiveness, reach, and customer quality.
- Focus Efforts: Dedicate resources to optimizing this core channel.
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Iterate and Optimize:
- Continuous Improvement: Regularly review the performance of your core channel.
- Adjust Strategies: Make necessary adjustments based on ongoing feedback and data.
For your ad campaign on Twitter/X, the best option depends on your immediate goals:
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Reach: Use this if you want to maximise the number of people who see your ad. This is useful for brand awareness but may not lead directly to conversions or sign-ups.
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Engagements: Choose this if you want people to interact with your ad by liking, retweeting, replying, or clicking on links. This can help increase visibility through social proof and virality, but it might not necessarily translate to website visits or sign-ups.
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Website Traffic: This is the best option if your primary goal is to drive visitors to your website. It will optimise the ad delivery to people who are more likely to click on the link to your site, which is critical if your goal is to increase sign-ups or user activity on your platform.
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Keywords: Use this to reach users with high intent who are searching for or talking about specific topics related to your product. This can be effective for targeting a specific audience but may have a narrower reach.
Why?
- Direct Path to Conversion: It focuses on getting users to your website, where they can learn more about your product and sign up.
- Measurable Impact: It's easier to track the success of your campaign through website analytics, sign-up rates, and other key metrics.
- Targeted Audience: Ensures that the ad is shown to users who are more likely to take the action you want, i.e., visiting your site and potentially signing up.
By driving traffic directly to your website, you can better control the user experience and lead them through your conversion funnel.
Ad text:
Tagging: I wouldn't tag anyone in an ad
Add media: Maybe use our open graph image as the media? It has the URL to our website and adding URLs directly in a post could hurt performance
Headline: Revolutionise Your Social Media Strategy with Echosight!
- United States: High potential market due to affordability, language, and receptivity.
- Japan: Moderate potential market, with some language considerations but generally affordable.
- India: Potentially smaller market due to affordability issues, but viable among urban professionals and businesses who value digital tools.
The use of hashtags has evolved, and their effectiveness varies. On platforms like Twitter/X, the current trend indicates that overusing hashtags can sometimes be seen as spammy or reduce engagement. However, strategic use of one or two relevant hashtags can still help categorize your content and reach a targeted audience without detracting from the ad's impact.