The Product Gene — August update
Written by Eugene Nikiforov, PM at The Product Gene
Post with the last update is here.
August started with an optimistic confidence in the future. I had a lot of information to process after talking with many respondents from target audience.
I’ve gave a thought to distribution channels and tried to estimate CAC (Customer Acquisition Cost). I didn’t want to spend money on test traffic for now, but the keyword planner and talking to experts gave me a $50–150 range for a paying customer from search traffic. Which sounds reasonable, considering the projected price.
Nonetheless, I had a hypothesis, that content marketing, given I invest enough time in it, could get me to CAC, that would be significantly lower that that. I’ve researched content strategies, launched this blog, Slack workspace, and LinkedIn group.
Publishing fresh and interesting content to the blog turned out super hard (I’ve never blogged consistently before that). Further research led me to think that Medium wasn’t the best platform for blogging and we need a blog on our domain (we will launch one in September), because it’d be more efficient in converting prospects into clients. Anyway, looking back at it, I feel like invested more time in content than I should have, since I haven’t yet tested other acquisition channels and getting content marketing to work can take a while.
The major area of focus for me was working on the product. I want to deliver the first version as fast as possible, hence I try to spend most of my time working on it. The first course we will launch will be “User Research”. I’ve completed the course structure (no easy task) by compiling high-level and low-level job stories and filling it with content. Right now I have a core structure that I’d be filling with materials, cases, tasks and value.
Another angle that I’ve tried to approach it from is expert interviews. For the next months I want to regularly talk to experienced product leaders. I am interested in collecting product cases, artefacts and archetypical problems, that I can incorporate in the product further on. I’ve talked to 5 senior PMs so far and this approach seems quite promising. Stay tuned!
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