Explore the value for each channel - Deepstash

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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: How much time is required to get to the first experiment? How much time to run each additional experiment?

Output Time: How much time will it take to start getting results? How many experiments do we have to run to get meaningful data?

Control: Can you turn the channel on and off at will? Is there a middleman between you and the knobs you turn?

Scale: How large is the channel in overall volume?

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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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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:

1. Targeting - The depth of ability to target different audiences.
2. Cost - The upfront and ongoing cost to acquire users in this channel.

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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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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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