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Justin Jackson

@mijustin

11 Jan

If you're selling anything online, pay attention to these two variables:

1. Unit economics: how profitable is one "unit" of your product or service? (one digital download, 1 month of MRR)

2. Sales volume: how many units can you sell every month?

📊 Unit economics

Think about a musician. 👩‍🎤🎸

## She used to make:

🎵 On iTunes:
Retail price: $0.99 / track
Artist profit: $0.69 / track

## But now she makes:

🟢 On Spotify:
Artist profit: $0.007 / stream

Her profit per unit has gone WAY down.

📉 Sales volume

🎵 On iTunes, an artist needed to sell 3,623 tracks to earn $2,500 in a month.

🟢 On Spotify, she needs to get 357,143 streams to earn $2,500 in a month.

Because of poor unit economics, the volume required to hit baseline has gone WAY up.

Read 12 tweets

Justin Jackson

@mijustin

9 Jan

“Treating social media providers as [a public utility] threatens to convert natural monopoly or essential facility claims into self-fulfilling prophecies.”

mercatus.org/system/files/P…

Odd to see folks advocating that Twitter should be a “government controlled utility.”

So, you want to fight censorship by giving a central government control over the big social media platforms?

(Personally, as a citizen, I’m more afraid of being censored by the government)

A central totalitarian government controlling communication channels is the literal definition of “Orwellian.”

Read 4 tweets

Justin Jackson

@mijustin

9 Jan

The President can literally text every phone in America.

newsweek.com/fema-test-pres…

The President could also, conceivably, send a letter to every citizen:

washingtonpost.com/politics/his-n…

The President can also communicate on all these channels:

- National televised address
- News conference (with every major outlet in the world present)
- A massive email list
- Government websites
- His own website
- Emergency broadcast system
- LinkedIn 😜

Read 4 tweets

Justin Jackson

@mijustin

30 Dec 20

Business success is a function of:

📈 how much demand there is for what you’re selling

👍 how much of that demand you can capture and satisfy

💸 how much it costs you to capture that demand and create customer satisfaction

🔁 how repeatable the whole process is

📈 To figure out how much demand is there for what you’re selling, ask:

- How have you seen demand for X demonstrated?
- How many people are paying for something similar?
- If they’re not currently paying, is there a strong enough pull for them to pay?

👍 To determine how much demand you can capture, ask:

- what unfair advantage do you have in this category?
- what unfair advantage do you have when it comes to distribution?
- what will cause people to switch to your product?
- what product gaps do you see?

Read 5 tweets

Justin Jackson

@mijustin

10 Dec 20

The most powerful concept in product marketing is inertia:

People, generally, continue to do what they're already doing.

(Or, they keep "not doing" what they're already not doing. 😉)

In my experience, it's not worth chasing prospects who aren't already making an effort.

You want self-motivated customers: folks who are hungry for a solution.

"F*ck this, I'm fixing [this problem] today."

"Inertia" explains why the podcasting industry saw a huge bump during the initial lockdown.

Folks were like: "OK! Now's the time. I'm finally going to start that podcast I've been dreaming about."

The lockdown disrupted them. It gave them the momentum they needed.

Read 4 tweets

Justin Jackson

@mijustin

1 Dec 20

Nothing gives indie founders a better quality of life than recurring revenue. 🥰

The only thing that compares is a one-time sale product (course, book, downloadable software) that does massive revenue when it launches, and then consistent sales in the years that follow.

(Without needing a lot of re-launching, complex sales funnels, or CPC ads)

The risk with one-time sales is you can have a reasonable launch ($10k - $30k) but then have it peter out.

Then, it's like squeezing juice from a squeezed lemon. 🍋

But, if you get a really good launch ($100k - $500k) you have the margin to figure out how to make it sustainable

Read 7 tweets

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