Wk3 - The Bullseye Framework

Hello,

This week has been a short but very marketing focussed week.

I have been learning and applying the Bullseye Framework.

In my opinion, people do a bunch of random experiments to try to find a growth channel that works. Often they don’t find the channel as they are essentially just throwing spaghetti at the wall. Whereas the Bullseye Framework provides a systematic what of finding your scalable channels. Therefore increasing your chance of finding your scalable channel.

Secondly, it also assumes growth strategy isn’t a one-time event and must be constantly revisited as the project scales.

What is the Bullseye Framework then? Keep reading to find out.

What is the Bullseye Marketing Framework?

"The Bullseye Framework is a strategic instrument designed to pinpoint the marketing channels that are likely to provide long-term growth. As a startup entrepreneur, this framework offers an approach to conceive and execute your growth marketing blueprint. It's a product of Gabriel Weinberg and Justin Mares.

The outer layer of the Bullseye stands for the comprehensive array of growth or traction channels available for your business expansion.

The middle layer signifies the process of narrowing down the choices to a range of 4 to 6 channels. These are the traction channels that, in your view, possess the potential to significantly influence your company's growth trajectory in the upcoming half-year.

Lastly, the innermost circle is the bullseye, your ultimate goal! As the name suggests, this is your desired destination. Once a channel has been validated as a scalable and effective market path, it should be incorporated into your enduring channel mix situated in the central circle."

The framework can be applied as follows:

Step 1: Consider Your Target Audience 

Develop a detailed understanding of the ideal customer profile that you wish to target. This understanding should include their common challenges, objectives, and potential obstacles they might face. Furthermore, consider the environments they frequent, their preferred methods for information collection, and the research they tend to conduct prior to making a purchase decision. Obtaining these insights by conducting interviews, administering surveys, and having discussions with friends who align with your customer persona are advisable strategies.

Step 2: Prioritise all 19 channels to 4-6 target channels

Use a prioritization framework to help filter the 19 channels down into 4-6 target channels.

Step 3: Systematically start testing your target channels

Systematically test these 4-6 channels to understand if they work or not.

Step 4: Validate / Invalidate your target channels

If a channel provides scalable traction then it can be validated and added to the bullseye. If invalidated it can be crossed out on the Bullseye. Note - this isn't a one-time process and should be revisited multiple times.

I created a spreadsheet template here on how the framework can be applied (including a prioritization framework). Feel free to make a copy of it.

This week’s successes:

• Researched and understood the Bullseye framework.

• Created a template for how this can be applied to any future projects.

• Prioritized channels for The Intelligent Commerce and ready to start experimenting.

• Week 2 of The Intelligent Commerce was sent out.

This week’s learnings:

• The main learning was the Bullseye Framework. I had heard and seen it applied before but next applied it myself. I really like it as a mental model.

Next Week

• Create a backlog of experiments for the first channel to be tested.

• Start doing the first experiments.

That’s it for this week’s update! I hope you enjoyed it!

Feel free to share my newsletter with someone else: https://freddys-notes.beehiiv.com/ 

See you next week, Freddy