Alexandra Zatarain of Eight Sleep explains why companies grow faster by going narrow. Instead of trying to be everything to everyone, focus on one customer segment. This streamlines messaging, product development, and resource allocation, cutting the time to market traction.
Is there anything that you learned that strikes you as something that if you knew it sooner, it would've condensed that 5 years down to a year or 2 years?
Yes, absolutely. It's my favorite mantra for brand building, which is you can't be all things to all people.
And okay, talk, speak to us about that.
Yeah. Yeah. It's like, it's, you gotta have the guts to actually go very, very, very narrow in your customer segment. Which feels counterintuitive, right? A lot of times when founders are speaking to investors, you're trying to paint the picture of a really big market and all this TAM. And so you're thinking big, but when you're actually going about acquiring your customers, you have to think very niche. The riches are in the niches, they say too, right? And I think that was a big mistake that cost us for a long time, because what we kept trying to do, as I mentioned before, is everyone sleeps. So why don't we just speak to everyone? And so let's create all these different messages because we understand everyone sleeps, but there's all these different profiles. So let's create all these different messages and all these different landing pages and all these different ads. And let's spend money on all these different newsletters and let's work with all these different influencers, right? So you basically start diluting your effort, your startup, your 5 people, and you have a limited amount of money. So when you start spreading it across trying to reach all these different 5 or 10 different personas, you can imagine that the impact that you get is not going to take you very far. Instead, what happened for us in 2019 when we launched the pod is prior to launching, we went through an exercise of completely repositioning the brand and really understanding who is our customer, how do we hone into just one segment. And then from there, everything became easier. I don't want to say that everything in the business is easier, but from a customer acquisition and understanding where we should deploy our money, who we should be speaking to, even what press do we want to show up in, what stories do we want to tell, just all of that aligned because we knew exactly who we wanted to talk to.
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