What is Traction?
Imagine you make the best jollof rice and decide to start a business that makes it. Let’s call the business “Best Jollof.” You have bought your ingredients and opened an online store on Paystack's storefront to start selling this jollof rice to busy professionals during lunch. You’re excited. But there's a problem—Best Jollof’s online store has been live for one week, and no one is placing orders.
This happens in business. Without customers, even if your jollof (or whatever product you have to offer) is the best, the business might still not succeed. That's where "traction" comes in. Traction is like having a lot of orders for your jollof rice in your online store.
What is traction? According to the Merriam Webster dictionary, “Traction is the support or interest that is needed for something to make progress or succeed.”
Founder’s Institute goes further to say that, “Traction refers to the initial progress of a startup and the momentum it builds as it grows. When you have “traction,” you have a clear indicator that your product or service is viable, that you’ve found some level of product/market fit, you’re getting attention from your target audience, and you’re growing your brand.”
Essentially, traction is the early evidence of demand that your product shows to demonstrate that it has the potential to succeed and to grow. It is the sign that shows that your product is good, people want it, and your product is well known. When Best Jollof gains traction, it means people are interested and buying what is available for sale.
So, why is traction important?
One of the top reasons businesses fail is because they don't have enough customers. Traction is the first few people happily buying your product. It shows your business is on the right track. Even before your product is ready, you need to think about how to get people interested and coming back for more.
📺 Watch the following video to learn more about traction.
You can break down traction into 3 key elements:
- You have a product your target customer likes. Traction shows that your product is something people want.
- Your target customer has demonstrated that they are willing to pay for this product.
- Your target customer is talking about your product to other people, and you didn’t have to tell them to.
📺 Watch the following video for more tips on how to gain traction.
Checking In with the EuBridge Team
With the EduBridge platform successfully launched, the team gathered for a post-launch meeting to assess their progress and discuss strategies for creating traction. Amina, leading the meeting, outlined their goal: to increase user engagement and drive adoption of the platform among their target audience of students and educators.
Tolu suggested leveraging social media to spread the word about EduBridge, sharing success stories, testimonials, and user-generated content to showcase the platform's impact. Brian recommended reaching out to educational influencers and organizations for partnerships and collaborations, offering them exclusive access to premium features or content in exchange for promotion. Kwasi proposed hosting virtual workshops and webinars to demonstrate the platform's capabilities and provide valuable insights into educational best practices. To manage resources, the team decides to move forward with Tolu and Brian's ideas.
With a plan in place, the team divided responsibilities and got to work executing their strategy. Amina took charge of managing social media accounts, crafting engaging posts, and monitoring engagement metrics. Tolu reached out to influencers and organizations, pitching collaboration opportunities and negotiating partnerships.
As their traction-building efforts gained steam, the team closely monitored key metrics such as user sign-ups, website traffic, and social media engagement. They analyzed data to identify trends and patterns, refining their strategy based on what resonated most with their audience. Their hard work soon began to pay off as user engagement increased and the platform gained momentum. Social media buzz grew, and influencers began sharing positive reviews. The team received encouraging feedback from users, who expressed appreciation for the platform's impact on their learning experience.
With each new milestone reached, the team felt a renewed sense of purpose and determination to continue pushing forward. They knew that building traction was a continuous effort, but they were committed to making EduBridge the go-to platform for quality education in Africa.