Understanding the Product

You need a thorough understanding of the product before creating an acquisition strategy. Follow these steps:

• Explore the Product: Use the product on all available platforms—mobile web, desktop web, iOS, and Android apps. If the product is sold in physical stores, visit one.
• Research User Feedback: Go to Google, Twitter, Reddit, YouTube, and search for {product name} reviews. Collect screenshots of every marketing ad, referral campaign, or organic search result related to the brand.
• Core Value Proposition: What does the product actually do for users? Not what you think it should do, but what is its real value proposition?
  Splitwise - Helps users split bills with Zero Hassel and not having to do the math manually
  Starbucks - Offers high-quality, ethically sourced coffee, personalised customer experiences and a welcoming store environment.

Understanding Product

Understanding the User

1 Your first job to be done is to interview at least 5 people who have are users of this product.

Use your WhatsApp groups, your top work friends, LinkedIn connection, Twitter friends or simply go to the brand offline store if they have one and see if you can speak to few real users. Note down few things about who these users are. Plus, learn if the product is a need or want for potential ICPs at the moment.

Understanding Users

2 Create an ideal customer profile.

Do mention specific influencers and blockers in the whole process of trying out a new product. You should ideally build a table of content for this section. Once done, pick top 2 ideal customers of the product using the ideal customer prioritisation framework covered here.

Let's talk ICP

Understanding the Market

To build a robust acquisition strategy, you must understand the competitive landscape. Follow these steps:

• Search the Market: Use Google, YouTube, Product Hunt, G2, Crunchbase, or ZoomInfo to search for competitors and understand what potential users are looking for.
• Analyze Competitors: Identify the top 3 competitors in the market. Go down the rabbit hole and understand these competitors. What are their strengths and weaknesses compared to your product? This will also help you position your product in the category.

Understanding Market