Imagine being a small fish in a vast ocean, surrounded by thousands of other fish, all fighting for attention. That's what it's like to launch a new product in a crowded market.
In 2024, there are over 14,000 different software options to choose from, and that number just keeps growing. In fact, it's grown by almost 28% in just the last year alone. Imagine trying to pick the right tool from a catalog that thick!
But what if you could rise above the noise and stand out from the crowd? That's exactly what Trackdesk did, going from $0 to $250,000 ARR in just 10 months. So, what's their secret?
Researching the competition: What you need to know
For Trackdesk, it all started with understanding their target audience. Who are they? What keeps them up at night? What problems do they need to solve? By asking themselves these questions, Trackdesk was able to identify their initial focus: companies just starting to dip their toes into partnership marketing.
Every company is different, and the person responsible for making decisions about partnership marketing can vary widely. Sometimes it's the CEO, other times it's the founder, a marketer, a salesperson, or even a dedicated partnership manager. But no matter who's in charge, one thing remains constant: they're all looking for a product that delivers real value.
Whether a company is just starting out or well-established, the decision-maker is ultimately concerned with finding solutions that benefit their business. They want to see tangible results and a return on investment. So, if you're selling a product, make sure it solves a real problem and provides a clear benefit. That way, you'll have a much better chance of getting their attention and earning their business. Remember, it's all about delivering value and meeting their needs.
In a world where marketers often resort to quick fixes, Trackdesk took a different approach. They focused on building a deep understanding of their market, understanding their competitors, and delivering real value to their customers.
It's not about tricking people into buying your product; it's about creating a solution that genuinely makes their lives better.
Let's face it: most tech and finance brands look and sound like they were cut from the same cloth. They use the same blue color scheme, the same happy people on their homepage, and the same generic messaging.
Remember that time you saw a company's announcement that was so over-the-top with formatting that you couldn't help but laugh? Yeah, we've all been there — bold this, underline that, change the font size and color... it's like they're trying to scream for attention!
But Trackdesk didn't want to blend in. They wanted to stand out. So, they dug deep, conducting a thorough competitive analysis to identify gaps in the market and position their product uniquely.
A recent analysis of over 300 branding elements from more than 60 business-to-business (B2B) companies, spanning six different categories, reached a surprising conclusion. As it turns out, “B2B companies are really, really, really bad at branding.” The study found that almost none of these companies have distinctive branding assets that set them apart from their competitors in their respective categories.
Finding your unique voice
To truly differentiate themselves, Trackdesk had to solve customer problems in a way that no one else could. They didn't just want to be another easy-to-use affiliate management platform; they wanted to be the solution that addressed a specific pain point for their target audience. And that's exactly what they did.
It's tempting to try to be everything to everyone, but that's a recipe for disaster. When you try to satisfy everyone, you end up satisfying no one. Trackdesk knew this, so they focused on a specific subsegment of the market, emphasizing the specific pain point their product addressed for their target audience. This allowed them to create a product roadmap that delivered real value over time.
The result: A game-changing $250,000 ARR in 10 months
So, what did Trackdesk achieve? In just 10 months, they went from zero to $250,000 ARR. But more importantly, they built a loyal customer base that loves their product and advocates for it. They didn't just launch a product; they created a movement.
Can you replicate their success?
The question is, can you replicate Trackdesk's success? The answer is, it depends. It depends on your willingness to put in the hard work, to understand your target audience, and to deliver real value to them. It depends on your ability to stand out in a crowded market and to create a unique positioning that resonates with your customers. But if you're willing to put in the effort, the results can be astonishing.
The emoji enigma: A love-hate relationship
Do you love emojis? ❤️😡 Trackdesk's team has a complicated relationship with them. At first, they thought they were childish, but now they're used to them.
It's human nature: we prefer what's familiar and fear what's unknown. So, here's a challenge: be brave enough to try something new and tell your stakeholders that it doesn't matter if they like it.
Don't think that slapping emojis all over your brand is going to make you stand out just because Trackdesk did it. If everyone else in your industry is already using them, you'll just blend in with the crowd.
For Trackdesk, emojis kind of... happened. They stumbled upon them, and they stuck around for a bit. But they're not married to them, and they're still testing them out. The point is, don't be afraid to try something new just because someone else did it first. If it works for your brand and makes you stand out, then go for it!
Imagine you're walking down a busy street, surrounded by all sorts of partnership marketing software options. Trackdesk wants to be the one that catches your eye and sticks in your memory. And yeah, their approach might not be perfect - they didn't hire a fancy agency to create some slick, polished brand strategy. But it's theirs, and it's different. At least, for now.
Building a brand that truly stands out is hard, especially when you're just starting out and trying to find your footing. Trackdesk knows that all too well. They need to move fast and focus on getting results, even if it's not 100% perfect. So, don't be afraid to try new things, take some risks, and see what works for you.
The challenge of building distinctive brand assets
Creating distinctive brand assets is tough, especially for startups with zero revenue. Trackdesk had to act fast and prioritize results over perfection. They didn't have the luxury of paying consultants and agencies tens of thousands of dollars for a polished strategy.
Tackling the market as a horizontal SaaS
When Trackdesk started, targeting a specific vertical or subsegment of the market wasn't an option. But, competitive research revealed a huge opportunity to introduce a FREE tier and pioneer product-led growth in the affiliate marketing landscape.
This led to a rapid influx of new customers, but also brought its own set of challenges.
Trackdesk learned that product-led growth isn't just about launching a FREE tier model; it's about aligning the value you deliver to customers with your pricing and building a self-service product.
They introduced premium support services, customer lifecycle marketing, and the world's first Partnership Managers Marketplace to connect customers with top-tier partnership managers.
Pricing and packaging: The key to growth
Trackdesk's initial strategy worked, but they still attracted customers with unrealistic expectations. To address this, they implemented two additional pricing and packaging refinements. They de-emphasized "FREE" in their communication and introduced fair and transparent pricing.
Why Trackdesk's approach worked
Crafting a successful go-to-market strategy requires a solid product foundation, a deep understanding of the target audience, and thorough research into their pain points. Once you gain traction, it's crucial to reinforce it by developing distinctive brand assets and communication. Be a colorful coral reef in a sea of blandness. Focus on building mental availability (easy to mind) and physical availability (easy to find) through standard digital marketing channels and tactics.
Conclusion
Be inspired by Trackdesk's process, but avoid blindly copying their strategies and tactics. Remember, your product, market, and company lifecycle are unique, and you don't have the same resources as others. Aim to lead, and monitor competitors without chasing them. Paving your own path often leads to greater success.
