[7 ways to acquire your first 1,000 users - pt.1]
Last time I wrote about a common early stage startup’s acquisition dilemma - “optimizing an acquisition channel v.s finding a new acquisition channel.” This time I'm going to dive into different ways of finding new acquisition channels.
Having one method work for your startup doesn’t mean you should disqualify the others, but it also doesn’t mean that every method will work for your startup either. It’s about testing and finding the right channel fit for your business.
Essentially every major consumer app acquired their early users using these methods, including Netflix, Instagram, Uber, Tinder, TikTok, and many more.
1. Find your users, offline
Once you identify who your target users could be, go find them in real life and get them to try your product! If they are not interested in what you have made, your product either doesn’t solve their problem or you have got the wrong target users.
To kickstart Uber’s growth in new cities, they often went to airports and downloaded the Uber app for taxi drivers and handed out coupons to riders. Tinder’s co-founder ran around college campuses handing out flyers and pitched to fraternities. Identifying your target user is important, if you know where they would conjugate, you want to be there too.
2. Find your users, online
Your target user could conjugate online too, and if they do, find them, and get them to them try your product! The same rule applies here, if the online users are not interested in what you have made, iterate on the product or the target users. Dropbox did exactly this, launching on Hacker News with only a video, even without a functional product.
You want to infiltrate your target user’s community, fit in, use their language, and even befriend them. The advantage in interacting with users online is that you have the option to remain anonymous, but the disadvantage is that gaining their trust could take a longer period of time, but this is exactly how Netflix launched their product across America, slowing turning pockets of online movie enthusiast and cinephiles into Netflix users.
3. Invite your friends to kickstart a positive network effect
To successfully launch a product through your own network you need to leverage referral programs. Products which works well with this method generates value for its users by acquiring more users, thus creating incentive for both the inviter and invitee. Reid Hoffman launched LinkedIn into his network of founders and entrepreneurs, marking the platform really attractive for job seekers, thus creating a positive network effect which attracts more employers, which then again attracts more employees.
Two takeaways that are fundamental in getting your first 1,000 users is to “do things that don’t scale” and to narrowly define your target users. By doing both, you validate your product's problem/solution fit and product/market fit.
I’ll cover the other 4 methods of acquiring your first 1,000 users in my next post, but in the meantime, if you got some value out of this post, please like and share!
Lastly, if you are a founder working on a startup in SEA, or working with AI / blockchain, apply to AppWorks Accelerator #21 to join the largest founder community in Greater Southeast Asia today >>> https://bit.ly/2NcjYGV
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by Jack An
Analyst, AppWorks
Image credit: Lenny Rachitsky
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Over the past few months, we have been working closely with Tech in Asia to produce a documentary called “Crossing Borders,” which tells a story about the Greater Southeast Asia (ASEAN + Taiwan) startup ecosystem and some of the founders who make tech innovation happen here.
The story is complex. As varied as Southeast Asia is, its founders are even more varied.
This short video introduces you to three of these founders whose journeys have taken them to Taiwan.
Joel Leong (AW#13) -- co-founder of ShopBack, the region’s largest cash-back rewards platform, which is based in Singapore and has an R&D team in Taiwan
Jin-Ni Gan (AW#19) -- A Malaysian founder who lives in Singapore, Jin-Ni founded a micro-mobility startup called Telepod, which seeks to enable better transportation options, and a cleaner environment
Hai Ho (AW#18) -- A blockchain-focused founder based in Vietnam, Hai created Triip, which seeks to help residents of the region travel to places that are not normally on the typical tourist maps
The video is a good primer for showing some of the reasons why Southeast Asia founders launch here, or explore the market dynamics of this thriving country. Among them are:
* Mobile penetration rates that rank among the largest in Asia
*A digital economy and strong e-commerce legacy worth north of US$42 billion GMV per year
*Large pockets of SEA communities in cities like Taipei, which include a demographic that spans the Philippines, Vietnam, and Indonesia (in fact there are over 80,000 Vietnamese in Taiwan)
*A population of engineering graduates numbering over 25,000 per year which many startups turn to for their backend and front end engineering development
*And don’t forget the many global technology companies, like Google and Microsoft, that have staged R&D practices here
For many founders out there who do not think of Taiwan as a tech-forward, e-economy-driven country, which shares similarities to the SEA ecosystem, this video and these facts may be an eye-opening experience.
If you are a founder in Southeast Asia, or a founder working on AI / Blockchain and would like to belong to a community of founders who work together to solve critical problems, apply for our next cohort, AppWorks Accelerator #21.
Applications can be found here: https://bit.ly/3e4YHdo
The COVID19 pandemic has been a challenging experience for many founders, but it has not slowed many of them down. Stay tuned for a follow up video we produced showing how founders in Southeast Asia have dealt with COVID19 and regional lockdown.
You can find our interview with Lucas Ngoo, Co-founder of Carousell here: https://youtu.be/nRs_IZianfs
Doug Crets
English Communications Master, AppWorks Accelerator
#founders #COVID19 #GSEA #TaiwanCanHelp
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Good news comes from Alvin Kwock. The co-founder of Hong Kong-based OneDegree says that the company has launched its first official product, Pawfect Care, a line of medical insurance plans for pets.
Congratulations on the execution, Alvin and team.
OneDegree is addressing the high cost of raising and treating a pet in Hong Kong, one of Asia's densest and most expensive cities. Interestingly, the startup is the first company to take its insurance offering completely online in the city after Hong Kong began issuing licenses to enable the transformation.
OneDegree is a Hong Kong-based graduate of AppWorks Accelerator #16. They raised US$30 million in a Series A last year.
You can read about their news on TechCrunch today.
If you are founder working on AI or Blockchain startup, look out for the release of our next application, which will be released in May. You can track it here: https://bit.ly/2xSrouI
Doug Crets
Communication Master, AppWorks Accelerator
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