Tip: A little bit of creativity (and collaboration) can go a long way. Monetize the traffic of your competitors when they close up shop by suggesting a revenue share.
Thread π
When @finesse_ay of Salesloop went to a competitor's website, he saw a notice saying that they had shut down. The notice included links to their other projects, indicating that they were still getting (or at least expecting) some traffic.
So he reached out to the founder and came to an agreement β they would link to Salesloop and split any revenue that came from it, allowing both parties to monetize the traffic.
The company updated the notice, linking John's product and recommending visitors to check out their "friends at Salesloop" for an alternative automation tool.
Alas, the arrangement was quickly shut down by another company that had (unbeknownst to John) bought his competitor's tech (so watch out for that). But before that happened, John got a solid 304 trials out of the deal.
All you have to do is partner up and track whether the leads from their site convert.
How do you prioritize new features in your product?
Good prioritization can lead to a better product β one that meets the goals of your business and your customers.
So if you donβt have a clear answer, check this out.
Thread π
TL;DR: There are a ton of prioritization frameworks out there. In the end, it comes down to personal preference, but the DIE framework will be a pretty solid choice for many indie hackers.
1. Value vs Effort Quadrant: Rate a feature's value to the business and the difficulty to implement it. Plot the resulting point on a quadrant chart. The sweet spot is the highest value with the lowest effort. High effort/low value gets the axe.
Tip: Reviews are important β no surprise there. But your first review is even more important than you might think. If you plan to sell on a marketplace, boost sales by incentivizing your biggest supporters to be the first to purchase.
Thread π
A recent study analyzed product ratings across multiple marketplaces and showed that a negative first review begets more negative reviews. This, in turn, leads to fewer sales, which leads to fewer reviews.
In fact, the study showed that 12 months after an initial negative review, the average rating was .29 stars lower, with 36.49 fewer reviews. The opposite was true when the first review was positive.
Tip: If you're quick enough, there's an opportunity in breaking news. Bring in more backlinks, traffic, and conversions by offering your spin on industry news before journalists publish anything.
Thread π
Newsjacking is when a brand takes advantage of breaking news by injecting their own content into the story. Itβs a powerful way to reach a bigger audience.
Carrie Rose of @riseatseven boosted organic traffic by 329% and organic conversions by 53% for a client within two months, primarily through newsjacking.
Tip: If you've got design chops, you can garner interest in your product by showing off its design. Get traffic and signups by submitting your site to UI showcases.
Thread π
Harsh Vijay of @RuttlApp got a big spike in traffic and a couple of new users after submitting his website to One Page Love.
Design showcase sites like this and Dribbble are unlikely to be the cause of hockey-stick growth, but they can help while you're searching for your first ten customers β especially if you hit the front page like Harsh did. Of course, you'll need a killer design for that.