Cracking the Code: Why Your Product Isn't Selling

Hey curious mind,

Here’s today’s dose to become smarter in 5 minutes:

• The Growth Insight: Why Your Product Isn't Selling

• What’s Up with Tech: TikTok Creators Unite, Siri Reboot

• Tools to Unlock Your Peak Potential

The Growth Insight 🌱

Cracking the Code: Why Your Product Isn't Selling

Imagine you've created an amazing product or service that could truly benefit a lot of people. However, despite your best efforts, sales are not taking off as you had hoped. You're left scratching your head, wondering why people aren't buying what you're offering.

The truth is, there are typically three fundamental reasons why people haven't purchased your product:

1. Lack of Awareness: They simply don't know your product exists.

2. Lack of Trust: They're not convinced you can actually deliver what you promise.

3. Timing: It's simply not the right time for them to buy, maybe due to budget constraints, existing vendor relationships, or more pressing issues to solve first.

These three problems are like the atoms that make up the larger problem you're facing. Once you understand these fundamental building blocks, you can start to address the bigger picture.

Let's tackle the first part of your atomic problem: "People who would benefit from your offer haven't purchased it yet." Who are these people, and how can you find them?

The sum of these potential customers defines your Total Addressable Market (TAM). Don't worry about Ideal Customer Profiles (ICPs) or nice-to-haves just yet. Focus solely on the non-negotiable factors that determine whether someone can realistically become your customer.

Common non-negotiable factors include:

• Location (e.g., companies must be in the United States)

• Company size (e.g., at least 5 employees in the marketing department)

• Industry (e.g., tech companies)

Once you've identified these non-negotiable factors, you can use lead data tools like Apollo.io or Clay.com to estimate the number of companies that fit your criteria. This number is your TAM – a crucial starting point for understanding your market potential.

For example, let's say there are 65 million companies in Apollo's database. If you filter for companies headquartered in the United States, that number drops to 17 million. Then, if you require at least 5 marketing employees, you're down to 180,000 companies. Finally, if you want tech companies, your TAM is 20,000 companies.

This TAM number is key.

It's what you start with, and it's likely one of the first questions investors will ask you during your pitch.

In the next 2 emails, we'll tackle the other two atomic problems – lack of trust and timing – to help you solve the bigger puzzle of why people aren't buying your product.

What’s Up with Tech🖥️

🔊 OpenAI's GPT-4o: The new talking AI model promises to power a more intuitive and multi-modal ChatGPT.

👋 Farewell: OpenAI's Ilya Sutskever bids adieu to pursue a personal passion project.

🎧 Zuckerberg's Earbuds: Meta CEO explores AI-powered earphones for a futuristic audio experience.

📱 TikTok Creators Unite: A group of creators files suit to block potential US ban or divestment.

🏪 GPT Store Open: OpenAI's GPT Store and custom chatbots are available to all.

🍎 Siri Reboot: Apple works on an AI-powered Siri revamp to unveil on June 10.

🧠 Arm's AI Chip: SoftBank's Arm to release its own AI chip by Spring 2025.

🌊 AI Wave in China: Kai-Fu Lee announces a Copilot-like platform to spur AI interest in China.

Tools to Unlock Your Peak Potential 🛠️

Glowbom- Create apps with AI without any coding skillset.

Taylor- API for text classification as well as categorization

FinPlus- AI-powered financial markets research for investments