Articles by David Skok
- Focus & Market Segmentation
David advises entrepreneurs to segment their market and focus on the most promising customer segment when first starting out. Known as the "low hanging fruit", this segment is most likely to buy and may be defined by their industry, size, or other characteristics. Focusing allows businesses to develop targeted messaging and prioritize features that fully satisfy one group's needs. However, management often struggles with focus because saying no to other opportunities is difficult. The example is given of a startup that wasted resources pursuing a large bank that was not the right fit, instead of focusing on their core small and medium business market.
- Growth Hacking: Creating a Wow Moment
Free trials and freemium products are two of the best ways to sell your product, but you need to create a "Wow moment" to ensure that the buyer sees the benefit they get from using your product. This moment in the free trial where the buyer suddenly sees the benefit they get from using your product, and says to themselves “Wow! This is great!”. It's also the moment where you have converted them into a fan who is likely to buy. By understanding exactly where in the free trial experience your buyer says “Wow!” you can focus on reducing the time and effort it takes for the buyer to get to that moment, and work on designing the flow for a trial that takes the least effort possible.