If users are satisfied with your existing product, they will recommend it to their friends. Then, Dropbox realized that users’ referrals were its biggest source of growth. They didn’t have to hire salespeople because they put a lot of effort in convincing the audience to use Dropbox. Lesson #5: Users are an impressive resource.ĭropbox invested a lot of effort on the customer market. Take advantage of Social Media, content marketing, partnerships, advertising. Constantly investing in developing your business is a must.
They spend a big amount of time and money to remain in the public eye. There are some competitors that you need to pay attention to in order to handle your business growth. Lesson #4: Spend more money staying front and center!Ī great idea and a huge users’ database won’t keep you on the market for a long time. Keep it simple and tell stories! People will love it. People quickly got the idea and realized they might have the same problem. What can be easier than a friendly video and a funny story? The formula was very simple: a stick figure losing their stuff and travelling to Africa. As we said earlier, Dropbox found the problem and a good way to communicate it to the audience. If you can find one and show them that your product can solve it, you can say that you are just about to start a successful business that will help you earn profits. Sometimes, people just don’t know that they have a problem.
Dropbox business to personal free#
Lesson #3: Make people aware of the problem they don’t know they have! Problem free place The solution? They can store their files in Dropbox and access them from any device.
They found a big common problem – the majority of people have it: people aren’t able to access their stuff from everywhere. Besides having a good product, a big advantage that Dropbox has is the idea. It can be a great idea, but if nobody needs it, there is no reason to give it a try. The first questions you should have in mind when you have a business idea: Is my idea solving a real problem? Are there enough people who will use my top level product? By finding answers to these two questions, you will be able to see if your idea is viable or not. This situation explains how Dropbox is still profitable. How? Through recommandations, good reviews and so on.
Dropbox business to personal for free#
Those people who are getting your product for free do all the work. When you achieve huge numbers like these, there’s no need for advertising. Actually, only 4 percent of Dropbox’ users pay. The company realized that there wouldn’t be a big number of users willing to pay for it, because people usually get this kind of stuff for free. An important thing they thought of was strongly related to its users: How are they going to keep them close and how are they going to face the competition and develop brand awareness? Neil Patel extracted 6 lessons from Dropbox`s business strategy that can help you define your own business plan.īased on his opinion on the subject and on the small analysis we’ve carried on, here are some strategic things that helped Dropbox in its development process: Lesson #1: Money.ĭropbox knew exactly how it was going to make money out of its existing product. Generally, before implementing the idea, you must define your business strategy: who are your clients, why they will pay for your product, how much they have to pay for it and so on.ĭuring the first stages, creating a business model was Dropbox’ best shot.
A good product needs a good business strategy.
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