Questions

My question in more details: are peer-to-peer networks still a good strategy to get free publicity around your book, or for testing a minimum viable product? Or are there other ways, more efficient...

This is a fun question — you might know that Tim Ferriss also tested this strategy out on one of his earlier books.

I'm going to answer your question in a roundabout way, but I still think it'll be helpful...

There's no one-size-fits-all marketing approach. We have multiple seven-figure businesses under our parent company, and even though our businesses are all related, different marketing channels work well for different types of products/businesses.

For example, one of our businesses (Sumo) makes a good percentage of revenue from content marketing. Another one of our businesses (AppSumo) has historically struggled to gain much traction with content marketing.

We have a philosophy at our businesses: Test out a new marketing channel every month, and look for ones that hit.

A month is a good amount of time to iterate a bit on the channel and see if it can work. If there's no traction, move on to the next one.

Generally speaking, to test a MVP, I've noticed it is very valuable to depend on word-of-mouth and going "viral", because typically it's not reasonable (or worth it) to spend big budgets on advertising on other more sophisticated channels.

One of the biggest wins we've seen recently is using partner giveaways to partner with some similar products and get cross-promotion. We've gotten leads ourselves for about $0.10 per lead (the cost is any products we wanted to buy, but you may have partners give you products for free).

Hope this helps, and good luck.


Answered 5 years ago

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