- 31 Oct
How to Create a Market for Your Product When There Isn’t One
by Nick Mehta
As a business, you probably have dreams of being a big, successful company. But in order to do it, you may need to do more than simply have a great product or service. You may need to create a new category of business.
Now, you may be asking yourself, “why do that . . . ?”
Well, there are a number of reasons you might think you want to do this. You may want to take advantage of a new trend. But more importantly, it’s lucrative. According to Harvard Business Review, “Companies that were instrumental in creating their categories accounted for 53% of incremental revenue growth and 74% of incremental market capitalization growth.”
But we also saw the big drawback. If you’re thinking about category creation, you’ve already thought of it, too. There are no customers to a category that doesn’t exist yet. And in this article from the HubSpot blog, Nick Mehta, CEO of Gainsight brings us his 5 Strategies to Create a Product Category and win.
- 26 Jun
4 Keyword Research Strategies to Find Your Product-Market Fit
All too often, keyword research is seen as only useful for SEO. And, therefore, is considerd to only be useful when driving growth for an existing business. It seems that a lot of people see keyword research as something that comes into play only once your business has already created its products. But what if we have it all backwards? After all, there’s little-to-no ROI in getting eyeballs on a product people don’t want.
Why Use Keyword Research for Product-Market Fit?
Product-market fit is one of the first things to think about when you start a business. And ideally, you never really stop thinking about it. As your audience grows, their demands change. And their needs evolve. So, you’ll need to constantly adjust your strategy so it serves them best.
This may all sound complicated, and it can be. But not if you stay in tune with what your market wants and needs. And keyword research lets you do that at every stage of business growth. And, to learn how to put this all together for your business, read the full article at WordStream.com
- 13 Feb
The Ultimate Guide to Crowdsourcing
by Clifford Chi
Crowdsourcing. You’ve probably heard the phrase but wondered what it is. Or you may have read about some uses but didnt quite think that it was a business tactic you could use.
So, What is Crowdsourcing?
When businesses crowdsource, they ask the public for ideas, information, and opinions to help them craft better products and services. By crowdsourcing, companies can tap into a huge group of people’s expertise and skill sets.
And, How Does it Work?
As an example, companies can also crowdsource on social media. They can use this to gauge people’s opinion on their new product releases or updates. So to help you fully grasp the concept of crowdsourcing, here are some concrete examples of the practice in action at HubSpot.com