How to get your first 1000 customers

Read time: 4 mins

Hi Reader

As the holidays approach and the year’s biggest trends come into focus, this week’s newsletter is packed with insights to help you end 2024 on a high note. From the realities of acquiring your first 1000 customers to an honest look at the start-up grind, plus some surprising shifts in B2B buyer behaviour, these stories are sure to spark ideas and sharpen your strategy. Grab a drink (and maybe a pastry if you’re reading this on Sunday morning), settle in and let’s get into it.

Enjoy!

Lessons learned from a credit card start-up

Growth is hard – that’s the stark message in this Substack story from Tom Davies, VP of Marketing at credit card start-up Yonder. There are some great insights in the piece – particularly around what didn’t work for them (influencers and social ads, for example) but arguably the most compelling section is where he breaks down exactly, in numbers, where Yonder’s first 1000 customers came from. Clue: look close to home.

A festive feast of holiday ads

When marketeers haven’t been talking about the Jaguar rebrand, they’ve been holding forth on the relative merits of the Christmas adverts that have been dropping like needles from a tree this week. But how can you form your own hot take unless you’ve seen the ads? Don’t worry, I’ve got you – here are dozens of 2024 holiday ads from around the world on one handy Google Sheet, courtesy of Sunday Strategy.

Warren Buffett’s investment rules

The sage of Omaha remains one of the best stock-pickers in the world and his rules for investing are simple. For those who are thinking of buying stocks and shares or, indeed, who are trying to attract investors, it’s worth being reminded of what one of the smartest (and richest) men on the planet is thinking when presented with business opportunities. Investopedia has collated some of his wisdom here. It’s also worth reading some of his annual letters to Berkshire Hathaway shareholders, which you’ll find here. Besides being a sharp businessperson, he also writes beautifully.

A comprehensive guide to building your brand on social media

BornSocial’s deck on brand building in social is supremely useful, with some great slides that can be adapted for your presentations. From micro-targeting to hero/hub/hygiene content frameworks – plus guidance on media spend – it’s a helpful launchpad for anyone looking to sell through social. Get the Google Slides version of the deck here.

The latest trends in B2B buying behaviour

A new Dentsu report was released this week. The 2024 Superpowers Index is a project by B2B International and Dentsu B2B that examines B2B buying behaviour. Its findings include:

• Brand building: Brand building became the top priority for B2B companies in 2024, up from fifth in 2023.
• Decision time: The average time it takes to make a B2B decision has increased by 54 days since 2021.
• Brand satisfaction: Only about two in five businesses were highly satisfied with the brand they chose in 2024.
• Trust and brand building: The importance of trust and brand building is a key trend in B2B.
• Thought leadership: The influence of thought leadership is growing in B2B.
• Scaling ABM: This is an increasing challenge in B2B
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Why the ‘anonymous research’ phase has become the ‘decision making’ phase

I came across an Interesting nugget via DemandGen which tells us that 80% of B2B buyers initiate first contact with a business once they’re already 70% through their buying journey. Most sales processes fail to reflect this reality and focus on influencing deals once buyer contact has been established. In other words, sellers are losing deals before they even have a chance to win them.

An insightful take on the start-up ecosystem

Every entrepreneur should read Lost and Founder by Rand Fishkin, the founder of B2B software firms Moz and SparkToro. It’s an honest (and often painful) account of what it took to build a $45mn/year business. It’s particularly relatable because this is neither an overnight, billion-dollar success story nor a tragic tale of failure. Rather it documents the steady grind of a more middle-of-the-road startup lifecycle, giving a realistic look at the inside of fledgling Silicon Valley tech firms. There are a ton of take-aways from it but one that stands out is Rand’s realisation that VC investment is not the elixir that many assume.

Why the future of work is distributed (for tech businesses, at least)

In my latest blog article, I delve into the rise of distributed work – businesses without a physical HQ, operating “in the cloud.” It takes in the benefits, like resilience and global talent access, but also tackles challenges such as mentoring in remote settings. Take a read and discover how I’ve made this method work for JustFix – and why it might work for you too.

Strong emotional intelligence (EQ) indicators

High EQ is considered a fundamental skill in the workplace, helping you to cope with challenges and become successful in business and in life. Here’s what that looks like.

Drop me a line

This newsletter thrives on curiosity and collaboration. If an idea here caught your attention or shifted your perspective, let me know – I’d love to hear your thoughts. And if you’ve come across a fascinating trend, tool or story that deserves a feature, don’t hesitate to reach out. Your contributions could help make this space even more insightful and engaging.
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​See you next Sunday for more thought starters.

Cheers!
Adam

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