Entrepreneurial Thought Leaders (ETL)
Mark Gainey (Strava) - How Strava Found its Niche
Mar 4, 2020
Mark Gainey, co-founder of Strava, explains how the 'inch wide, mile deep' strategy helped Strava find its niche in the market. Gainey discusses the importance of focusing on passionate road cyclists, building a niche brand, and expanding globally through product design changes and community integration. He also explores Strava's business model, addressing challenges such as lawsuits and military base accusations. Lastly, he analyzes Strava's subscriber rate and future plans for increasing subscribers.
49:15
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Quick takeaways
- Focusing on a niche market and going deep establishes credibility and authenticity.
- Thought leadership and confidence-building are crucial for expanding from a solid niche position.
Deep dives
Importance of Finding a Niche and Going Deep
Mark Gainey, co-founder of Strava, discusses the importance of focusing on a niche market and going deep to establish credibility and authenticity. By concentrating on a specific group of athletes, such as passionate cyclists, Strava was able to cater to their specific needs and become a leader in that space.
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