BUILD YOUR MARKETING PRODUCT - Finding Product-Market Fit Through Product-Led Growth with the CEO of Funnelytics, Mikael Dia, Pt. 2

Today’s episode continues the conversation with Mikael Dia, Founder and CEO of Funnelytics - a software that allows you to visually map and analyze how people flow through your marketing funnels. 

An extremely difficult puzzle that any SaaS company has to solve is finding product-market fit. To better understand their market and generate brand awareness, Funnelytics released their mapping tool for free, which turned out to be a double edged sword. The good part is that they grew like wildfire through word of mouth and user generated content, driving 8000 monthly signups across a variety of industries and company sizes. The bad part is that with such a large scope of client profiles, figuring out the optimal route for your product development and truly understanding your ideal client profile (ICP) becomes a huge challenge - but by narrowing down the persona based on usage and adaptation metrics, Funnelytics were able to figure out exactly who they serve and what their main use case is.

A less known exercise that is necessary to ensure that product-market fit is achieved is to find your anti-ICP. Some clients might look great on paper, but will ultimately drain your resources by being a quasi-fit. For Funnelytics, their tool is not a great fit for agencies that aren’t measured by their performance such as social media/branding agencies. The reason why it’s their anti-ICP is because fundamentally these agencies aren’t data-driven, even if they want to be. That leads to a huge workload for Funnelytics to educate and guide these agencies on how to be data-driven, which makes no business sense for them.

As a serial entrepreneur, Mikael has had the chance to develop strong leadership principles and the best way to describe them is - efficient. The way Funnelytics operates is with clearly defined roles, responsibilities, timelines and check-in points, and their hiring strategy is to look for those who are best suited for their roles from day 1 and to let them strive. 

Check out the full episode to learn more on how to achieve product-market fit and do PLG the right way!

HIGHLIGHTS:
00:00 The 3 Biggest Challenges With Funnelytics
03:32 Finding Product-Market Fit Through Product-Led Growth
13:52 The Anti-Ideal Client Profile
17:34 How To Succeed at Product-Led Growth
27:30 Mikael’s Leadership Principles 

Connect with Mikael - https://www.linkedin.com/in/mikaeldia/

Check out Funnelytics- https://funnelytics.io

Don't forget to subscribe to the Chaos to Clarity Podcast for more invaluable episodes to help you grow your business and stay ahead of the curve!To reach out to Eric, visit FullCycleProduct.com

Don't forget to subscribe to the Chaos to Clarity Podcast for more invaluable episodes to help you grow your business and stay ahead of the curve!To reach out to Eric, visit https://chaostoclarity.io/