If you’re looking for a magic trick to make your startup shoot up at the speed of light, you won’t find it here. The ultimate advice that gets the strategies below to work is putting each in your business context and testing. Hard work and a clever approach are your silver bullets.
What makes customers stay is the ease and security of the solution. If they get a unique but hard-to-use solution, they will stop using it after a while, and your client base will shrink, making your investors reconsider their choice. Why would they look for other options if they can achieve their financial goals with you in a few clicks?
It may be surprising once you’re on it, but creating a simple and captivating UI/UX is a challenging task. Here are some tips for offloading some complexity:
Even if you mapped out your journey, you still need to check your route and ask for directions. Setting a system of growth metrics and key performance indicators (KPIs) will help you measure your internal and external growth and pinpoint a problem quickly if numbers change in an unfavorable direction. Metrics will show you what you’re doing right and what approach is the most fruitful, helping you to calibrate and focus your efforts for stronger growth and bigger working capital.
Many investors will tell you that you should target a bigger market. That is sound advice only if that whole market equals your ideal customers. Rather than trying to convince others that they need your product or thinking of new features to attract more customers, focus on those ready to pay for your product’s or service’s core functionality. If the solution solves their problem and is easy to use, they will join your loyal, long-term client base. This way, you secure stable growth for your business fast and increase your company's value.
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It’s easy to get carried away with building a perfect product for your customers. But the business won’t run itself or get to the market top. Once your startup gains traction, the real work begins. To accelerate your progress and secure future success, get the hang of the crucial SaaS metrics such as MRR, ARR, ARPA, Churn, LTV, NPS, CAC, and CSAT. Use tools like ChartMogul to track them regularly.
If you get most of your customers from word of mouth, there’s little sense in growing your marketing department to drill other channels. I’m not saying that you shouldn’t try new things. But if you need to secure robust growth fast, improving communication on the channel that brings the best result is the winning strategy. Otherwise, you may end up stuck in experiments that bring no conversion and endanger your hard-won market position.
As I said, the strategies above are part of a bigger scheme you can use to achieve stable progress for your business. There’s a comprehensive guide our team has prepared for the growing startups. Use it to prepare your solution for the market faster, attract more investment, and increase your revenue flow. Download while it’s available for free.