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The lead faucet: What we learned from 41,209 cold emails in 193 experiments

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Imagine if, as a founder, all you had to do was turn a faucet and you could talk to an endless flow of potential customers – to see if they really have the problem you thought, and if they’re willing to pay to solve it. ‍ At Purpose Built, we focus on helping founders mitigate market risk: can we get three, then ten, then 30+ customers willing to put money down for a product that doesn’t yet exist? ‍ When we’re speaking with people about a real problem with a promising solution, the answer is yes. Otherwise, some of those people will tell us why our solution doesn’t work or what problem we should actually solve for them. So long as we have a customer faucet, we can stop wasting time on bad ideas quickly and find our way to winners. ‍ By the end of Q1 2023, we ran 193 customer acquisition experiments, sent 41K cold emails with a 3.8% positive engagement rate (i.e. clicks or a positive response), and conducted 450+ customer calls. ‍ ‍ In case you don’t love painstaking analysis of growth

Purpose Built Venture Studio — The lead faucet: What we learned from 41,209 cold emails in 193 experiments Purpose Built Blog December 3, 2024 The lead faucet: What we learned from 41,209 cold emails in 193 experiments By Taylor Thompson & Kavin Lam A top priority for Purpose Built in Q1 2023 was to build a “lead faucet” for our founders. Imagine if, as a founder, all you had to do was turn a faucet and you could talk to an endless flow of potential customers — to see if they really have the problem you thought, and if they’re willing to pay to solve it. At Purpose Built, we focus on helping f

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