Your current and future investors expect to see indications of your product’s potential for growing into a $100mln business. They are looking for quantitative evidence of user engagement and unit-economics that can be extrapolated into a scalable business model.
But for an early stage business it is often challenging to distil that evidence, while your product still needs multiple functional and design improvements, your test marketing budgets are small and user acquisition campaigns are lacking optimisation.
What you need is a tool that would help you to define the unique for your business engagement metrics, benchmark them against the key market players and tell to your investors a convincing story of your product traction and growth based on your real product data.
The Niffler technology finds patterns in your data and generates investor-friendly data stories. See how you can improve your investor communication today.
- Focus on real sales, but also look for indications of how many potential sales you can get once you improve your conversion funnel – for example, when that glitch on ‘Buy now’ page is fixed.
- If your product is free, find the most telling KPIs for your product – sign-up rate, page-view rate, time on page, and then see what other metrics reinforce your story. Automated pattern recognition will significantly simplify the process.
- Instead of an arbitrary split of user in socio-demographic target groups, try finding unique user clusters for whom your product work perfectly. Show the market traction for these groups and keep optimising your user experience based on the unique needs of those customers. Your will get amazing indications of growth and a laser-sharp focus on improving your product for the unique groups of people.
- Demonstrating market penetration is often a very challenging task. Splitting your niche audiences by behavioural, socio-demographic and lifestyle metrics will help you to show what percentage of the niche market you have already occupied.