Growth Newsletter #209

The Bullseye Exercise Framework ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  [Demand Curve]( [Read on demandcurve.com]( The Growth Newsletter #209 The Bullseye Exercise Framework Today, I'm covering a framework that one of my closest friends swears by.  He’s worked with some of the top health creators in the world, like doctors Andrew Huberman, Peter Attia, and Rhonda Patrick.  So, I trust his judgment here.  Let's dive in 👩‍🎤  – Neal Brought to you by [Infraforge](—private cold email infrastructure that’s set up & ready to go in minutes!  Email deliverability is getting harder and harder.  If you’re tired of your outreach emails ending up in spam and your domains getting blacklisted.  Then, it’s time to try Infraforge.  Increase your email deliverability with a dedicated IP, free DNS setup, and the ability to programmatically provision infrastructure with their API.  Create hundreds & thousands of domains and mailboxes in minutes with premium deliverability and free automated setup for every mailbox. Use the code “ILOVEDEMANDCURVE” for 50% off your first month! [Click here to get started now]( Want to be featured in front of over 101,000 founders and marketers? [Learn more here](.  The Bullseye Exercise Framework Insight from [Traction]( by Gabriel Weinberg and Justin Mares.  The Bullseye Exercise Framework helps you narrow in on the most effective marketing channels for your startup—rather than spreading yourself thin over all 19 growth channels.  It’s not perfect as presented and leaves some things to interpretation  But I’ll help fill in some blanks with other frameworks/data.  Let’s walk through it step-by-step:  Steps to Implement the Bullseye Exercise Framework - Brainstorm: Generate ideas for each of the 19 traction channels (see below). - Rank: Prioritize the channels based on their potential impact. - Test: Conduct cheap tests to validate the highest potential channels. - Focus: Double down on the most effective channels.  Let’s dive in.  Step 1: Brainstorm Identify all potential traction channels that could be used to attract customers. The 19 traction channels are: - Viral Marketing (going viral organically on social platforms) - Public Relations (PR) (pinging journalists) - Unconventional PR (going viral with publications) - Search Engine Marketing (SEM) - Social and Display Ads - Offline Ads (billboards, radio, etc) - Search Engine Optimization (SEO) - Content Marketing - Email Marketing - Engineering as Marketing (product-led) - Influencers - Business Development (BD) - Sales - Affiliate Programs - Existing Platforms - Trade Shows - Offline Events - Speaking Engagements - Community Building  Write down at least one idea for each channel, even if it seems impractical.  Step 2: Rank  Rank the channels based on three criteria: - Potential: How big is the channel’s audience, and how well does it align with your target market? - Writing the hilariously large size of the channel’s audience is silly and feels like something you'd do in a business plan. I would focus on how well it aligns with your target audience. - Cost: How expensive is reaching and converting customers through this channel based on the channel and your resources? For example: - Ads = $$$ - Outreach = effort - If you're a skilled writer, you can create content yourself. - Feasibility: How realistic is it to successfully execute a test in this channel with your current resources and capabilities? Ex: If you have zero budget, a lot of ads is off the top.  Prioritize the top three to five channels that score highest across these criteria.  I feel like this part is missing a lot of guidance.  Not all of these things work for all kinds of businesses. I recommend using this chart from Right Percent as a guide (I wrote about it previously [here](): Step 3: Test  Startups have limited resources. Always best to test first.  Red Bull can commit to the Stratos jump because they can afford to. But you should start small scale.  Design inexpensive tests to validate the potential of your top-ranked channels.  The tests should provide enough data to understand if the channel can be a significant source of growth.  Let’s use Lenny’s Racecar Growth Framework (covered [here]() to give better guidance on how that might look. Check out the Kickstarts and Turbo boosts: Other testing methods include: - Running a small ad campaign. It likely won’t be profitable at first, but as long as it’s generating conversions roughly in the right ballpark. - Reaching out to a handful of journalists for PR. - Creating content on LinkedIn for a couple of months. - Setting up a basic affiliate program and contacting your list.  Measure the results in terms of cost per acquisition (CPA), conversion rates, and overall engagement to determine which channels are worth further investment.  Look for clear winners.  If there are no clear winners, keep testing.  Step 4: Focus  Once you find a winner, go hard.  In the Racecar Growth Framework, that’s the Growth engine. The self-perpetuating engine where growth begets growth (ex: profitable ads → more budget to run ads). Another name for these is [Growth Loops](. Allocate more resources to your winners and scale them. Monitor their performance and make adjustments as necessary.  Practical example  Let's say you're launching a new productivity app.  After brainstorming, you decide to rank and test the following channels: - Sales: Cold outreach campaigns. - Community Building: Create a community. - Social and Display Ads: Run Facebook and Google Ads. - Influencers: You convince or pay influencers to talk about you.  You run small tests for each: - Sales: Create very targeted lead lists using LinkedIn. Write very personalized messages and offer free value. - Community: Be active in existing productivity communities—far easier than making your own. - Ads: Run a small campaign using the product/lead magnet. - Influencers: You recruit a few micro-influencers to post about you.  Based on the results, you’ll lean into one of these and make it more scalable.  The goal is to find a scalable growth engine for your startup today.  Use this framework to help you find it. What did you think of today's newsletter? 😍 Loved it: Forward to a friend, or reply—a simple 😍 will do! It really helps. 🤷‍♀️ Meh: You can unsubscribe [here](), or manage your subscription [here](. 🤔 I'm new here: You can join the party [here](. 🤩 Give me more: Check out all previous growth tactics in our [Growth Vault](. Something fun  “mid-tier rubber” got me 😂. From [Jon-Stephen Stansel](. How we can help you grow - Read our free [playbooks](,[ articles](, [growth guide](, and [teardowns](—we break down the strategies & tactics used by fast-growing startups. - Need help running ads? We’ve built [the]([ ads agency]( for startups. - Looking for a growth freelancer or agency? [We’ll match you]( with a vetted partner for free. - Get in front of 101,000+ founders by [sponsoring]( this newsletter. Thanks, everyone! [Neal]( [Neal O'Grady]( [Grace]( [Justin Setzer]( [Grace]( [Nick Costelloe](   © 2024 Demand Curve, Inc. All rights reserved. 4460 Redwood Hwy, Suite 16-535, San Rafael, California, United States [Unsubscribe]() from all emails, including the newsletter, or [manage]( subscription preferences.