Lower CAC and other reasons to position as a thought leader

by | Feb 2024 | Build a Product

An investor I spoke with last week told me the cost of customer acquisition is rising across his portfolio, making marketing channels redundant that once delivered a + ROI. He asked me what’s working for us.

While there’s no silver bullet and every startup is different (obviously), I told him one thing that’s working for some of our startups is this:

Become an opinion leader in your niche

By becoming a trusted voice for people within their ICP (ideal customer profile), some of our founders are creating all kinds of opportunities, including:

  • Inbound enquiries
  • Speaking opportunities
  • Press interview requests
  • Inbound investor enquiries

It’s not for everyone, and takes a lot of time, but if you think this could work for you, here’s how I’ve seen it work best.

1. Commit to becoming an expert by reading voraciously around your chosen niche.

2. Find a forum where your ICPs spend a lot of time consuming information (ideally online).

3. Commit to posting your learnings succinctly, regularly and consistently.

4. Express an opinion and point-of-view on relevant topics and discussions.

5. Be relatable by sharing real-life context and stories.

6. Listen to what others are saying/asking and try to provide value and help.

7. Build trust by being accountable as yourself, for both successes and mistakes.

8. Learn what works and what doesn’t; tailor your approach accordingly.

9. Understand that by doing this consistently you will build an audience, but it will take time.

10. Repurpose and claim everything you write. Turn comments into posts, and turn posts into articles hosted on a domain you own yourself (don’t give it all away to the tech giants for free).

I’ve bookmarked a post by Michael Margolis on this. Will add a link in the comments.

Hope it’s useful.

Please share with anyone who might find it useful. 🙏

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