How to Win podcast with Peep Laja Rebuilding the ICP - with Wonder's Guy Cohen
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Oct 23, 2023 Guy Cohen, CEO of Wonder, talks about the challenges of narrowing the target market and rebuilding the business. They discuss their innovative marketing approach, scaling issues, and the debate surrounding friction, pricing, and quality. The podcast also delves into the risks and benefits of AI, the voice of the customer, and the importance of making committed choices.
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Founding Wonder: Secondary Research Gap
- Wonder founder Guy Cohen observed no startups focused on secondary research, unlike the primary expert network space.
- Their idea was to build a librarian of the web combining technology and humans to answer detailed secondary research questions on demand.
Narrow and Focus ICP Early
- Narrow your target audience clinically by scoring pain, willingness to pay, and deliverability after talking to many prospects.
- Focus on one ICP initially rather than multiple to maximize success.
Landing Initial Customers Hard
- The first 10 customers were landed through cold outbound plus detailed proof of concept models showing time and money saved.
- It was tough convincing people of unknown problems, unbudgeted solutions, and new products.