How complex is to set up a tech stack for growing a product? It is very complex.
The core growth strategy is simple:
1) Acquire users
2) Engage them
3) Monetize them
4) Facilitate word of mouth
5) Use insight and analytics to optimize each step
What’s complicated is how many technologies are in the market for each step and how you can orchestrate them in a way that makes sense.
A big company can afford to try them all, even to build a common foundation to integrate thems. A startup, on the other hand, should have a strong focus and bet on a particular product for a specific step.
To choose a particular product, spend some time thinking about which step you could leverage the technology the most. Then analyze two, and pick one.
For example, for Insights and Analytics, you have Mixpanel and Oribi. They are both great tools. Mixpanel has more years in the market, but Oribi has a better user experience. If you don’t have any analytics tool at the moment, pick the one that you like the most.
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