How do people discover new products? I posit there are seven ways. A thread 🧵
1. Friends or colleagues tell you about it
At a party, at your home, at the office, over email, etc. Generally, this is free and very organic (e.g., “I LOVE my new spatula, check it out!”), but it can also be incentivized through a referral program or even an MLM program.
2. You come across it organically while browsing online
The next best (aka cheapest) way to learn of new products. e.g. Seeing a social media post, press, influencers organically sharing it, comments in a forum, Wirecutter, organic search results, etc.
3. You come across a promotion while browsing online
Companies like Wish, Casper, Calm, Blue Apron, and Hims grew primarily through this channel—ads (e.g., Facebook, Google, Twitter, YouTube), paid influencers, affiliate programs, and channel partners. vimeo.com/183867108
4. You come across it organically while you’re out and about
Noticing a new cereal on the shelf, seeing a Tesla drive by, peeping a Peloton sitting in a friend’s home, etc.
5. You come across a promotion while you’re out and about
This is the classic “out-of-home” (OOH) marketing channel: billboards, bus ads, taxi ads, backs of trucks, flyers, etc. You pay to get your advertisement in front of people who spend time around a specific location.
6. You come across a promotion while at home
When you think of in-home advertising, you probably think of TV ads, but there’s so much more: direct mail, ads on the packaging itself, flyers inside packaging, radio ads, podcast ads, newspaper and magazine ads.
7. Someone reaching out to you
Finally, there’s outbound sales—someone coming to you to tell you about their product. This can be over the phone, email, DM, LinkedIn message, or door-to-door.
For tons more on how people discover new products, including guidance as to which channel is worth your time, don't miss today's post 👇 lennysnewsletter.com/p/how-people-d…
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The job description for a Product Manager, based on reviewing PM career ladders at 20+ companies 🧵
1/ Leadership
"Demonstrates ability to effectively motivate a large team. Can successfully start and direct self-sustaining teams."
"Inspires teams to achieve great outcomes. Pushes team when they need to be pushed, and supports teams when they need support."
2/ Execution
"Focuses, runs, and plans across a series of teams that operate seamlessly with minimal blockage, minimal noise, and a rapid clip of high-quality delivery. Others frequently turn to this person to understand how to run highly productive teams."
"Come shape the future of Blockchain-powered football collectibles, you’ll have a massive impact from day 1 as part of the founding team. Freedom, autonomy and ownership are all part of the deal."
Eight ways to make money: 1. Sell a thing 2. Rent a thing 3. Take a cut 4. Charge a subscription 5. Charge based on usage 6. Sell a service 7. Advertising 8. Charge on % of assets
More in 🧵
1/ Sell a thing: Sell someone your physical or digital product
• Examples: iPhone, lemonade, land, stocks
• Ideal for: Physical products you manufacture or acquire
• Optimize: Unit economics
• Business strategy: Make or acquire a thing —> Sell it for more than it cost you
2/ Rent a thing: Allow someone to borrow a product that you continue to own
• Examples: Apartments, rental car
• Ideal for: Physical products you manufacture or acquire that people don’t want (or can’t afford to) to own
Exploring new job opportunities? Check out this week's 🔥 featured roles from companies like @duolingo@OpenPhoneApp@overtime@CurologyUSA and 200+ more opportunities around the world 👇
(Just in the past week, 667 applications submitted from 301 applicants)
1/ Great PMs take pride in the clarity and conciseness of their documents, emails, presentations, and meetings.
They know that people judge the quality of their thinking by the quality of their writing/speaking, and that effective communication is the most fundamental PM skill.
2/ Great PMs build an aura of “I’VE GOT THIS.”
They rarely drop balls, they come prepared, and their colleagues know that when they take on a task, it’ll get done.