Rosie Hoggmascall

Seeing this says to me the Ruroc EOX launch has flopped. If you're asking customers "why didn't you buy" with options of: "Product Design isn't good enough" "I am waiting for a good promotion" ...You have to be deluded if you think you're going to get actionable information from a survey like this. Here's what has gone wrong for Ruroc. Firstly, "EOX" was designed as the 'Finale' of the Atlas line. It should have been positioned as the pinnacle of the range and should have replaced the Atlas 4. Atlas was plagued with issues from v1.0. We rushed, the pandemic hit, suppliers messed us around, we had to build our own factory REMOTELY to keep up with demand. To fix the issue once and for all I hired a specialist product designer who built out the team to deliver the 'perfect product'. It was costly, but it would allow us to reduce our Customer Service costs, return logistics costs, and reduce our in-house QC team from 18 to just 2-3. A huge cost to get a huge saving. Absolutely necessary for Ruroc to stabilise and continue growing at 70-100% YOY. That product, the one that should have been Ruroc's biggest success, is now called "EOX". To sell products online and grow successfully you need: - Scarcity - "I want stuff other people don't have yet, or I don't want to regret not buying when I had the chance." - Innovation - People want the latest greatest and best... if it's not that, why am I giving you my money if my current product does the job? - Social Proof - it's FOMO, who's wearing it, who's buying it, am I going to be the odd one out if I don't buy? - Reciprocity - What's this brand done for me? How have they engaged me? Do I buy into their mission, do I feel obliged to be part of it. - Commitment - OK I've pre-registered, I've followed the page, I've signed up for the newsletter, I'm watching the launch video, I'm going to buy. Not one of these tactics was properly employed during the launch of the "EOX" Further to that, some genius has made the decision to continue with the Atlas 4 and have it run alongside the EOX So now, as a customer of Ruroc, what does this say to me. Ruroc Atlas 4.0 Track - $679.00 (Has no real track certificate) Ruroc Atlas 4.0 Carbon - $595.00 Ruroc "EOX" - $559.00 (brand new should be better than Atlas 4) Ruroc Atlas 4.0 Street (fibreglass) - $319.00 (Confusingly is lighter than the Track and Carbon Atlas) So if I want the best, I buy the most expensive helmet? I can wear it on the Track right? No, not in USA or MotoGP. I want the lightest, so I buy the cheapest? I want the newest, but is it worse than the old models because it's cheaper? This is beyond confusing for customers. Customers give brands minimal attention. Your messaging is as much in the decisions you make around naming and pricing as it is anything else. Ruroc "Atlas-X" - $659.00 Drop the Atlas 4.0 and discount til it's gone Clear message to consumers - "the new product is better, replace your old helmet now" It's not hard.

46

18 Comments

🚨Quick Reminder 🚨 We’re always looking for Founders to invest in ! We partner with: 🇬🇧 UK-based companies (or with a company registered in the UK) 💻 Founders who need a tech partner to take them to the next level 🛠 Have an MVP or early product that is revenue-generating to a B2B audience 🔛 Tech companies that need a tech partner to scale, or companies with offline revenues that they want to digitise If this sounds like you and your company, or someone you know, please message me or tag them below. Or visit the link in the comments. We’re continually on the hunt for exciting founders to work with, we’d love to hear from you ! #startupinvestment #founders #venturestudio #startups

80

13 Comments

Product teams often face the challenge of defining their product scope. Are you aiming for an MVP, an MLP, or an MMP? Many end up settling for an MMP, compromising on the user experience to meet deadlines. It's crucial to aim for an MLP – a Minimum Loveable Product – to truly connect with users and drive growth. Funding constraints often hinder product build, emphasizing the need to establish clear goals early on. Is it a test or a full launch? Define your strategy, budget, and timeline accordingly. For valuable insights on navigating this process, check out these articles: - https://lnkd.in/gjPwZamm - https://lnkd.in/gNweH3mk #ProductDevelopment #MLP #MVP #ProductStrategy #UserExperience

4

I'm reading Paul Graham's new piece about Founder Mode (https://lnkd.in/eiRJdtNm) today. There's plenty of advice out there teaching founders how to start and run a company. One thing I've found that works so far is trying, experimenting, and being brutally honest about what's working and what isn't. It sounds easy, but you'd be surprised how many people refuse to acknowledge when things aren't working. Several psychological barriers come into play: • They did that, so why can't I? (One thing I've learned is that success can never be copied. Too many factors contribute: timing, luck, connections, etc.) • I don't have enough data to make decisions. (Fair, but is that really true?) • It worked for me in the past with this one person, why isn't it working anymore? • Changing approaches and pivoting are too scary. What about the sunk cost? • No one else seems to see what I'm seeing. Am I stupid? • Maybe I will just get lucky? There's no single way to run a successful business. Everyone's on their own journey. The only way to win is to keep trial and error until you find something that works.

14

1 Comment

⚡What a messaging masterclass by Emma Stratton during the first day of #CompeteWeek Klue! It's so easy to forget that we are actually talking to real people when working in SaaS messaging and give in to the use of super-charged words. From now on, I'll test my messaging to see if it passes the #bbqtest 🍔

15

2 Comments

How to build grit? Today, Joao asks: — “Why is it so hard for me to stick to my goals? Even when I really want to achieve them?” — Welcome to Episode 75 of AskMatty! Here’s my answer, Joao: — I think it could be many things, like: →    Lack of discipline →    Lack of patience →    Lack of grit But let’s focus on this last one: grit. Studies have shown that “Grit + Talent” leads directly to success. So, let’s see how to build grit with a 30-day challenge. 1.    First off, decide on the goal you wanna achieve in 30 days. It could be: →    A health goal →    A business goal →    A relationship goal →    … Just set a goal. For example, let’s imagine your goal is: →    Running for 30 minutes daily to improve your endurance 2.    Alright! Now what? Simple: every day for the next 30 days, take action toward your goal. In our example, you just need to: →    Run 30 minutes each day →    Maintain a steady pace →    And try to gradually increase your distance You know, at the beginning you might run 4 kilometers. Then you might increase to 5 kilometers. You just need to run 30 minutes every day. “Um, and if it’s raining, Matty?” Well, you have two options: →    You can run on a treadmill →    Or you can adjust your schedule and run later, before midnight And of course, this doesn’t apply only to running. Whatever your goal, you just need to take action daily, no matter what. 3.    Ok! Now the interesting part: tracking! Tell me, do you track your progress? “Um…” Well, how can we measure our progress if we don’t track it? “Um, you’re right Matty!” No problem. I personally use a Database, like a Google Sheet. In our example, you just need to record: →    The date →    The duration → And any notes about how you felt during the run For example: →    Day 1 – June 28, 2024 →    Ran for 30 minutes and covered 4 kilometers →    Felt really fatigued in the last 5 minutes Got it? The same goes if your goal is in business or other areas. 4.    Now, if you want, share your challenge with a close friend. Why? Because they can support you and hold you accountable. They can check in with you regularly to see how you’re progressing. 5.    Alright, last step. Each week, reflect on your progress. For example, every Sunday, take a moment to check your database. Try to extrapolate: →    What went well — and celebrate that! →    What went bad — and learn from that, so next week you can adjust. All this for 30 days. That’s it. This is how you can build grit. I know it seems basic, but what grit wants is just our daily actions. — Alright! Thanks for your question, Joao. Question of the day: →    Do you prefer running, lifting, or yoga? “Let’s build a more inclusive world by spreading wellbeing globally!” – Matty 

476

263 Comments

Such a useful perspective for social entrepreneurs who are trying to raise capital. Unfortunately trying to conform and contort into VC style valuations and growth targets undermines credibility in your startup. You need a big and compelling vision, yes. But you also need a realistic plan that acknowledges assumptions and includes milestones for how you'll steadily progress towards that vision e.g. how you'll capture your first 1,000 paying customers, or onboard your first 2-3 major partners etc. If achieving all your milestones depends on an unrealistic raise at an unrealistic valuation, your ask is going to appear both risky and naive. Impact investors know growth is more slow and steady for social enterprises, and those who don't will likely not be a good partner for you anyway!

3

1 Comment

Being a tech founder is tough 🥴 You might find yourself being spread thin across the business… 👉 Speaking to partners as a route to market 👉 Setting up meetings with angel investors or VCs 👉 Discussing ideas and processes with your CTO 👉 Hiring and choosing the right developers 👉 Piecing together your investor pitch deck 👉 Researching your competitors and landscape 👉 Forecasting and looking at your budgets It’s exhausting. In addition, you’re frantically trying to learn Figma, haphazardly clubbing together borrowed flows from other apps and adapting other UI resources you’ve found online. So, when it comes to UX and design, you can’t throw something together and expect a successful product with thousands of paying customers. Luckily, you can get help with… ✅ Defining your UX vision and strategy ✅ Evolving your visual identity and brand language ✅ Diverging on lo-fi ideas and solutions ✅ Conducting user tests and interviews ✅ Working feedback loops into your prototypes ✅ Iterating and learning from users and data ✅ Designing new features and user flows There’s no need to struggle. And there’s no need to max out your budget. Bring on the right expertise so you can sleep better at night. #ux #design #ui #product

24

5 Comments

🚀 Are you a product entrepreneur looking to nail your product briefing? Tune into my latest episode where I break down creating extensive and detailed product briefs. From market needs to technical requirements—I've got you covered! Click the link below or head over to my podcast 'From Product Idea to a Thriving Business'. #ProductManagement #Entrepreneurship https://lnkd.in/e5cf2834

2

🚀 Are you a product entrepreneur looking to nail your product briefing? Tune into my latest episode where I break down creating extensive and detailed product briefs. From market needs to technical requirements—I've got you covered! Click the link below or head over to my podcast 'From Product Idea to a Thriving Business'. #ProductManagement #Entrepreneurship https://lnkd.in/e5cf2834

1

The product team at Userled isn’t sleeping… 🤯 It’s been only one week since joining and I can tell you that the platform doesn’t look the same from Monday to Friday. Just last Friday, they dropped some major updates: marketing teams could already see an overview of prospect engagement from their CRMs (and revealed anonymous accounts with Clearbit) towards personalised assets. Now, they can slice and dice these prospects to only see the prime targets based on how they interact with ads, landing pages, the website. Cherry-pick the juiciest, sales-ready accounts. 🍒 But it gets even spicier 🌶️ Coming soon: - Saving custom engagement-based account lists for future campaigns. No more one-and-done. - Taking action on those VIP lists: notify via Slack, sync to CRMs, target with ads. As a reminder, with Userled you can: 1️⃣ Create hyper-personalized touchpoints for target accounts 2️⃣ See real-time engagement on your assets from anonymous contacts 3️⃣ Notify sales when accounts show buying signals 4️⃣ Track ROI of ABM campaigns So what's your dream feature for account-based everything? With this team, there's a good chance it could ship within 1-2 weeks. 😉

30

We recently ran a launch campaign: $1 per month for unlimited users for the first 12 months. The results are in… Firstly a quick background. Some people had told us setting the price for $1 seemed odd because it’s practically free 🤷‍♂️. But I believe the psychology of having to part with cash (entering your card details) is still pretty much the same whether we charged $1 or more. The point for us was not to make money from this. We wanted a base of customers that would be more serious than the free users which mostly tend to be freelancers. We needed to get feedback from teams. So now with more than 1000 active users directly from this campaign and a ton load of conversations and feedback I think we did the right thing. 😎 A couple of learnings that were somewhat of a surprise: - Users is Malaysia/Pakistan/India/Bangladesh would definitely consider using it but pricing needs to be localised. -When the price is low enough, users will use it in ways we wouldn’t have predicted. Example is Uni’s and Learning centres having their students use it for managing their learning.

53

8 Comments

Happy Monday! Some recent payments news to start your week. 📰☕️ Klarna Launches Gift Cards in the UK: Klarna has partnered with Blackhawk Network to bring a gift card marketplace to the UK. Shoppers can now buy gift cards for popular brands with the option to pay in instalments. Nuvei & BigCommerce Partner on Custom Payments: BigCommerce clients now have access to Nuvei’s flexible payment solutions, which support online and in-store payments, with perks like centralised management and same-day funding. Worldpay boosts Gaming Payments with Aeropay: In a move targeting the U.S. gaming market, Worldpay’s partnership with Aeropay will allow gamers to make instant deposits and withdrawals, set to launch in 2024. Dwolla and Plaid Streamline Bank Payments: Dwolla's integration with Plaid adds instant account verification and risk assessment to its Pay by Bank service, making account-to-account payments simpler and more secure for U.S. businesses. PayPal & Global Payments Inc. enhance Fastlane Checkout: U.S. merchants can now offer streamlined PayPal, Venmo, and guest checkout options thanks to this expanded partnership, which makes the checkout process faster and easier for customers. Klarna is now on Apple Pay in the US & UK: Klarna’s instalment options are now available on Apple Pay, giving users flexibility for larger purchases. A Canada rollout is next. Brazil’s Pix Introduces Recurring Payments: In partnership with EBANX Brazil’s central bank is working on Pix Automatico, set for 2025, which will allow QR-based recurring payments for subscriptions and bills. Revolut ’s New Payment Terminals for Larger Retailers: Just in time for the festive season, Revolut’s new terminals for businesses in the UK and Ireland will support payments through Revolut Pay. Have a great week! BR-DGE #payments #partnerships

86

4 Comments

Google’s product growth strategy appears to be flawed: 1. Incessant YT premium sign up ads on YouTube 2. Google Workspace sign up flow doesn’t offer any change in the plan at the checkout. 3. No engagement messages on Waymo service 4. Maps almost doesn’t have any competition and yet I have billboard ads. Engineering driven org needs few business thinker also.

6

If I started a new job as a partnerships manager today, here are the 7 things I'd do: 1 - Become the jack-of-all-trades for your company In the first 90 days, aim to be 70% proficient in everything from sales pitches to product demos. You need to understand your business inside and out before you can effectively partner. 2 - Get on sales calls immediately Listen to how customers describe their challenges. Develop relationships with the sales team. They'll be crucial for hitting your numbers. 3 - Network internally like crazy Set up meetings with department heads. Ask what they care about, what they're responsible for, and how they think partnerships can help. If they don't know, educate them. 4 - Gather data and set realistic expectations Use industry benchmarks and internal historical data (if available) to inform your strategy. Don't promise immediate revenue - it typically takes 6-18 months for a new program to produce results. 5 - Focus on inputs, not just outputs Track leading indicators like partner conversations, program sign-ups, and leads generated. Revenue will come later once you understand your funnel. 6 - Be transparent with potential partners If your program isn't ready, tell them. Respect their time and set clear expectations on when you'll be prepared to engage. 7 - Align with company goals Make sure your partnership strategy supports broader business objectives. Show executives how you'll drive value across the organization. The key is laying a strong foundation before diving into deals. Take the time to truly understand your business, build internal relationships, and set up the right processes. That's how you'll create a partnership program built for long-term success. Anything you would add to the list?

61

23 Comments

Tips today

7

3 top tips for killing SaaS customer churn 👇 SaaS and startups, do you suck at retaining customers? 🤔 This one's for you – my 3 top tips for killing churn and retaining more users. 1️⃣ Unmet expectations Provide clear, consistent communication from the start, including tutorials, onboarding guides, and setting realistic goals so customers know what to expect. Regularly check in to ensure their needs are being met. 2️⃣ Give them the 'A-Ha' moment Identify the key feature or action that delivers value quickly and guide users to it as early as possible through onboarding flows, in-app messaging, or walkthroughs to demonstrate your product’s core benefits. 3️⃣ Finally, refine your value proposition Continuously gather customer feedback to understand your users’ evolving needs. Use this information to clearly articulate how your product solves their pain points in all messaging, marketing, and onboarding content. Found this helpful? Let me know in the comments below. Need some help tackling churn? Drop me a DM, and let’s chat! #saas #ux #design #startups

19

Product marketing is hard. Really hard. I think it’s possibly the most undervalued skill set in a tech company and I don’t really understand why. You can spot a product that has a world class PMM working on it a mile off. There are very few people with the breadth of skill to do this role well and product teams with an amazing PMM are great places to be. Anyone up for helping me understand more? Product marketing has been one of the steepest learning curves for me so far on this start up journey.

386

63 Comments

Pump fakes vs. *actual* signal - both can be indistinguishable to a founder but produce drastically different results. Let me explain.... In venture, a 'pump fake' results in a founder building a bespoke solution for a customer under the false pretense that the solution/product has broad applicability for many customers. Customer product requests are intoxicating, especially in PMF phase, because it makes teams feel that 'we're onto something' and there's a market for our product. Pump fakes can be company-killing b/c it sends a team with limited resources down a path that ultimately becomes dead-end with little runway to pivot. Here's how you can avoid the perennial pump fake and keep pushing forward: (1) Don't just hear the customer, *listen.* Hearing is a passive and involuntary activity resulting in zero info retainment. Listening is active and voluntary process that forces you to absorb and react to information. By listening, you're able to translate customer feedback into measured actions. (2) Speak to *many* prospective customers BEFORE you start building. This helps you internalize the true hair-on-fire problem customers are facing and filters out atypical feedback not shared by a customer cohort. (3) Understand customer nuances and recognize that not all customers are created equally. When evaluating prospects, try to understand the composition of their business (team, fundraising, revenue, ICP, etc..) to triangulate why your service is needed for a particular customer. Often times, pump fakes are missed simply due to lack of customer context! https://lnkd.in/euYZ-TKk

18

1 Comment