How to use a piggyback strategy to get more users [Founders launching #SaaS tip 298]

Founders Launching SaaS

13 Jul 202303:17

Summary

TLDRThe transcript outlines a three-step 'piggyback strategy' for growing a platform by leveraging another's audience without competition. First, identify non-competitive platforms serving your target audience. Second, craft an offer that benefits both the platform owner and their users, providing upfront value without commitment. Lastly, address and overcome potential objections to increase the likelihood of successful promotion. This strategy can attract new users to your platform without traditional marketing costs.

Takeaways

🔍 Identify potential partners who serve a similar audience but do not offer the same services as your platform.
🎯 Create a no-brainer offer that provides multiple benefits to both the platform owner and their audience.
🤝 Ensure the offer is attractive to the platform owner to increase the chances of them promoting your deal to their audience.
💡 Offer initial value to the users without any commitment to make the offer irresistible and a no-brainer for them.
🛡 Reverse the risk by identifying and overcoming the reasons why a platform owner might be hesitant to promote your offer.
📈 Understand that success with the piggyback strategy is a numbers game and not every potential partner will accept your offer.
🚀 Prepare to invest effort in reaching out to potential partners rather than relying solely on marketing spend.
🤔 Consider the audience of the platform you want to piggyback on and ensure your offer aligns with their needs and interests.
📝 Develop a clear and compelling offer that communicates the value to both the platform owner and their users.
🔑 Focus on creating a mutually beneficial arrangement where both parties see the advantage of the partnership.
⏳ Be patient and persistent, as building partnerships and growing your platform through piggybacking takes time and effort.

Q & A

What is the piggyback strategy mentioned in the transcript?
-The piggyback strategy refers to leveraging someone else's audience to grow your platform by partnering with individuals or businesses that serve a similar audience but do not compete with you.
Why is it important to identify businesses that serve a similar audience but don't compete with you?
-Identifying such businesses is crucial because they already have a customer base that might be interested in your platform or service, without directly competing for the same market share.
What should be the first step in implementing the piggyback strategy?
-The first step is to identify potential partners who are already serving your target customer and are not in competition with you.
What is a 'no-brainer offer' in the context of the piggyback strategy?
-A 'no-brainer offer' is an attractive proposal that provides multiple benefits, making it easy for the platform owner and their audience to accept and promote your offer.
Why is it suggested to create an offer that benefits both the platform owner and their audience?
-Creating an offer that benefits both parties increases the likelihood that the platform owner will agree to promote your offer to their audience, as it adds value to their platform and their users.
What should be the initial approach when offering your platform to the audience of a partnered platform?
-The initial approach should be to offer some value upfront without any commitment from their side, making it a no-brainer for the audience to try your platform.
What is risk reversal in the context of the piggyback strategy?
-Risk reversal involves identifying and overcoming the reasons why a platform owner might be hesitant to promote your offer to their audience, thus increasing the chances of a successful partnership.
How does the piggyback strategy help in acquiring new users without spending on marketing?
-By leveraging the existing audience of a partnered platform, you can acquire new users through their promotion, without the need for additional marketing expenses.
What is the expected outcome when offering a no-brainer deal to potential partners?
-The expected outcome is that at least some of the potential partners will accept your offer and promote it to their audience, resulting in new users for your platform.
Why is it important not to expect every potential partner to accept your offer?
-It's important to manage expectations because not every potential partner will be interested or find your offer suitable for their audience, making it a numbers game where some acceptance is still beneficial.
How can the piggyback strategy be beneficial for both parties involved?
-The piggyback strategy can be beneficial for both parties as the partnering platform can offer additional value to their audience, while your platform gains exposure and new users.

Outlines

00:00

🤝 Utilizing the Piggyback Strategy for Platform Growth

This paragraph introduces the piggyback strategy as a method for growing a platform by leveraging someone else's audience. It emphasizes the importance of identifying potential partners who serve a similar audience but do not compete with your platform. The key steps include creating a no-brainer offer that benefits both the platform owner and their audience, offering value upfront without requiring payment or commitment. The strategy involves risk reversal by understanding and overcoming the reasons why a platform owner might hesitate to promote your offer, thereby increasing the likelihood of success in the piggyback approach.

Mindmap

Keywords

💡Piggyback Strategy

The term 'Piggyback Strategy' refers to leveraging someone else's audience or platform to grow one's own business or platform. In the context of the video, it is about identifying partners who serve a similar audience but do not compete directly with your offerings. The strategy is used to gain access to a new customer base without the need for traditional marketing expenses, as illustrated by the script's suggestion to create offers that benefit both the platform owner and their audience.

💡Target Customer

A 'Target Customer' is the specific group of people a business aims to attract and serve with its products or services. In the video script, identifying the target customer is crucial for the piggyback strategy, as it helps in finding partners who are already serving a similar demographic. The script emphasizes the importance of not competing with these partners but complementing their offerings.

💡No-Brainer Offer

A 'No-Brainer Offer' is a deal that is so attractive and easy to accept that it requires little to no thought from the recipient. The video script suggests creating such an offer for both the platform owner and their audience as a way to entice them to promote the offer without any initial financial commitment from their side.

💡Risk Reversal

In marketing, 'Risk Reversal' is a strategy where the seller takes on the risk associated with a purchase, making it easier for the buyer to accept the offer. The script mentions this as a step in the piggyback strategy, where one should identify and overcome any obstacles that might prevent a platform owner from promoting the offer to their audience.

💡Multi-Site Benefits

The term 'Multi-Site Benefits' refers to creating an offer that is advantageous for multiple parties involved. In the script, this concept is used to describe an offer that benefits both the owner of the platform (by providing them with a reason to promote the offer) and their users (by providing upfront value without commitment).

💡Platform Owner

A 'Platform Owner' is the individual or entity that controls and manages a platform, which could be a website, social media account, or any other digital space with an audience. The video script discusses creating offers that are attractive to platform owners so they will be willing to promote the offer to their audience.

💡Audience

The 'Audience' in this context refers to the group of people who follow or engage with a particular platform or content creator. The script emphasizes the importance of creating a no-brainer offer that provides immediate value to this audience, encouraging them to try out the new platform or service being promoted.

💡Irresistible Offer

An 'Irresistible Offer' is a proposal that is so compelling it is hard for the target to refuse. In the video script, creating an irresistible offer is a key step in the piggyback strategy, designed to convince potential partners and their audiences to engage with the new platform or service.

💡Value Up Front

'Value Up Front' means providing immediate benefits or advantages to the user without requiring any payment or commitment upfront. The script suggests that offering value upfront is essential in creating a no-brainer offer that can attract users from another platform's audience.

💡Marketing

In the context of the video, 'Marketing' refers to the activities and strategies used to promote a business, product, or service. The script discusses the piggyback strategy as a way to acquire new users without spending on traditional marketing efforts, by leveraging existing audiences of other platforms.

💡Partners

'Partners' in this script refers to other businesses or individuals who serve a similar audience but do not offer the same product or service as your platform. The video suggests identifying such partners as a key step in the piggyback strategy, as they can help expand your reach to a new customer base.

Highlights

Use the piggyback strategy to grow your platform by leveraging someone else's audience.

Identify potential partners who serve your target customer but do not compete with you.

Partners should serve similar audiences or businesses but offer different services or products.

Create a no-brainer offer with multiple benefits for both the platform owner and their users.

Offer something attractive to the platform owner to increase the chances of them promoting your deal.

Provide upfront value to the users without any commitment to make the offer irresistible.

Avoid hijacking or abusing someone else's audience; instead, create a reasonable and appealing offer.

Risk reversal: Identify and overcome obstacles that may prevent the platform owner from promoting your offer.

Increase the likelihood of success by addressing concerns and offering a multi-beneficial deal.

Expect a numbers game - not every potential partner will accept your offer, but some will.

Aim for at least one out of five potential partners to accept your offer for successful piggybacking.

Gaining new users without spending on marketing by leveraging the piggyback strategy.

Put effort into creating and offering deals that benefit multiple parties involved.

Ensure the offer is a no-brainer for both the platform owner and their audience.

Focus on creating value upfront to entice users to try your platform without commitment.

Leverage the piggyback strategy to grow your platform organically through partnerships.

Build relationships with partners who can introduce your platform to a new audience.