Acquiring your first customers is crucial for establishing your startup's presence in the market. Here are a few effective strategies:
Find Channel Partners: Identify and collaborate with businesses that can refer customers to you. Compensate them for their referrals, for example, by sharing 5% of the revenue generated from these customers. This mutual benefit can incentivize partners to actively promote your product.
Work with Marketing Partners: Collaborate with marketing agencies or influencers to promote your product. These partners can leverage their networks and expertise to increase your product’s visibility and attract potential customers.
Leverage Multi-Level Marketing: Implementing a multi-level marketing (MLM) strategy can help build credibility and expand your customer base. By incentivizing existing customers to refer new ones, you can create a network effect that drives growth.
These strategies can help you gain traction and build a solid customer base in the early stages of your business.
(Source: Class 36+37 Weekly Gathering June 13 2024)