Did he just say give it away for "free"? I know I know the notion sounds crazy, you've spent months, maybe even years developing content, a product or service that in your eyes is the best thing since well... #Steemit. You want to hit the ground running and monetize, at top dollar, only problem is, you're trying to earn top dollar without any actual customers or any type of validation. You need to build a customer base, get feedback etc.
The Problem
"NOBODY GIVES A SHIT ABOUT YOUR COMPANY!"
One of the problems many entrepreneurs and startups struggle with early on is getting the elusive first couple of customers. Why you ask? Well in a word I'd say ego. Many of us build the first iteration of our product (whether that be content, an app, hardware etc.) and want to get "top dollar" immediately. In a perfect world that would be great, but the cold hard reality is, that other than you, and perhaps a few of your closest friends, NOBODY GIVES A SHIT ABOUT YOUR COMPANY! As harsh as this may sound it's Kiiiinnda True.
(Bonus Points: If you know that reference, if not link below)
"One of the biggest mistakes I made early on was securing meetings with powerhouse commercial real estate brokerages without having a solid value proposition in place."
You have to have some kind of measurable data (qualitative or quantitative) in which to go by initially. One of the biggest mistakes I made early on was securing meetings with powerhouse commercial real estate brokerages without having a solid value proposition in place. Do drones help lease space faster? Are more people clicking on your video? Is there an increase in in-person showings of property? All these were questions that although I had strong assumptions, I had no real answers to, yet here I was charging top dollar for our services.
The Solution
After months of getting the lead, creating interests, and securing one sometimes two in person meetings and falling flat, admittedly I was getting a bit discouraged. But as I mentioned in my #IntroduceYourself post, I've been fortunate enough to have a circle of people smarter and more successful than I to turn to. So what did we come up with? A series of "pilot runs", test drives if you will, that we offered the customer at an EXTREMELY DEEP discounted rate in exchange for the valuable feedback, validation, metrics, that would allow us to hone our craft more. And while we are still in the process of wrapping up a few of these pilots, the knowledge and insight so far has been very helpful, I will be sure to keep you posted on how they've helped us move forward from here on out.
"...I'm no fan of "selling out" for a quick buck (it brings the entire industry down)."
At first listen, it may sound like I'm asking you to totally sellout, to undervalue your product or service, but that couldn't be further from the truth, trust me I'm no fan of "selling out" for a quick buck (it brings the entire industry down). That is why when doing these pilots its very IMPORTANT to set the expectation early to the customer and yourself that this is the pilot cost, and not the norm.
Benefits
At risk of getting too long-winded I will refrain from going into details about each but here is just a small list of the benefits of running pilot programs.
- Social Validation
- Credibility
- Customer Feedback
- Valuable Metrics
- Improve Your Overall Process
"If you find yourself struggling to get initial subscribers, users, customers, etc, I would highly encourage you to try using the pilot program method..."
Conclusion
If you find yourself struggling to get initial subscribers, users, customers, etc, I would highly encourage you to try using the pilot program method, (just be sure to clearly let them know that this is the exception and not the rule.) Use these pilot run as a way to gain valuable experience, data, and polish your own work process. So give away your best material, products, and services. In time, if done correctly, the information gathered during this process can be invaluable in building your company and ultimately helping you land more customers at your premium charging price.
I would love to hear your thoughts, and experiences on this subject. Also if you do try your own pilot program let me know how it ends up working out for you.
#Fin'