Tom Tunguz, investor at Redpoint, talks about the characteristics of attractive (read: more likely to be successful) SMB SaaS companies across product, acquisition, and sales and marketing. Here are the standout points for me:
The product satisfies the top three priority for the software buyer and consequently the software buyer uses a software very frequently.
A product that meets needs.
The product enables self-education of a user. In other words, a user can sign up, immediately understand the value proposition of the product and decide whether or not to use it.
A product that has a highly relevant value proposition.
Building a brand that is synonymous with a category is a huge strategic advantage.
A brand that has strategic advantage.
Product marketing isn't just about the product, but about the impact the product has on the business. What is the vision? What are the business goals? Regardless, product marketing will help you get there.Read more...