Different times call for optimizing different things.
Learning - You might be trying to learn something specific about engagement, interest among a certain target audience, monetization, etc. Learning is typically the priority when your startup is a pre-product-market fit or when you are expanding to a new target audience.
Volume - There will be a time in your business when you will want to prove that you can go from a certain base amount of customers to moving the needle in a meaningful way.
Cost - Optimizing your CPA to get more out of your budget.
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The next step is to research each channel so you can fill in each cell with “low”, “med”, or “high” values. You aren’t trying to predict exact values. Get enough information to make educated comparisons of each channel relative to each other.
The matrix looks v...
In a perfect world you want channels with the following values:
Targeting - High, Cost - Low, Input Time - Low, Output Time - Low, Control - High, Scale - High
You will rarely get a channel that fits those values perfectly so the question is how do you prioritize? This is where the wo...
In the header row fill in the attributes of each channel that you are comparing. At a minimum, there are 6 attributes you should have:
Building a channel matrix helps give you three things:
1. A methodical process to evaluate each channel
2. A way to compare each channel on the same attributes
3. A visual organization of the information for each channel
Step 3.1 - Open your favourite spre...
Targeting: Does the channel have the type of targeting you need? How close to your exact target audience can you get with this channel?
Cost: Are there upfront costs? Minimum spends?
Your constraints will differ depending on the product, stage, funding, industry, etc. The most common constraints will be:
Generalist. Great minds discuss ideas, average minds discuss events, small minds discuss people.
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Imagine a ship without a destination. It drifts aimlessly, wherever the water takes it. Deciding what you want is like setting your ship’s course. It gives you directi...
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