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3.3 List Out Channel Defining Attributes In The Header Row
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:
- Targeting - The depth of ability to target different audiences.
- Cost - The upfront and ongoing cost to acquire users in this channel.
- Input Time - The upfront time required to start running experiments with this channel.
- Output Time - The time it takes to start getting data around your experiments.
- Control - The control you have over turning the channel on/off at will.
- Scale - The size/reach of the channel.
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MORE IDEAS ON THIS
Step 1: What Are You Optimizing For?
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 o...
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Step 4: Fill In Values Of Channel Matrix With Low, Med, High
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...
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Step 5: Choose 1 - 2 Channels As Hypotheses
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...
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Step 3: Setup Your Channel Matrix
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...
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Explore the value for each channel
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?
Input Time:
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Step 2: What are your constraints?
Your constraints will differ depending on the product, stage, funding, industry, etc. The most common constraints will be:
- Time - Do you have a specific optimal window to reach your audience? Do you only have 3 months of cash left?
- Money - Are...
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