Even the smartest VCs still need an irrational exuberence moment to take their decision. The Financing of the Next Big Thing (NBT) is secured - but in the round (won’t be more specific in case one of them reads this) some of the VCs, though very smart and rational, still need the feeling of “we’ve got to rush to the bandwagon” before they really commit. And that means we have to waste some energy just to prove that we can scale fast really fast.
We believe that you have to finetune your Value Proposition. and make yourself sticky before you explode - or you wil get ephemereal and lose the audience you reach. That doesn’t mean being slow or defensive - it means spending as much energy on retaining customers / users as on winning new ones. Not an easy one. But probably the secret to success.
Now customer retention is probably achieved by the basics:
- compelling, understandable value proposition
- swift, perfect service delivery (including technology)
- simple mantra (see Guy Kawasaki on that) that’ll be told at every party
In short: gain not only a lot of contacts, but a relevant portion of mind share as well.
I’ll report more on this, because we have devised a nice little strategy to comply without wasting marketing reach. There is Gold there.
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