Proptech Growth Strategy Brief Newsletter
Dwelling Growth Strategy
Dwelling connects homeowners with contractors via video call for home maintenance help. Here's a quick 3-point strategy brief on how I'd aim to grow their user base and revenue.
"Grain of Salt" Warning: I write this newsletter with an outsider's understanding of the business in question. I am likely to make mistakes, leaps of judgement, and assumptions - that's what makes it fun.
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When we look back at history, the 2020 pandemic will likely be known as the period when remote finally went mainstream.
Not only did offices, schools, and medicine start decentralizing, but new business models and flipped price structures helped usher in a flood of blue collar industries embracing the advantages of doing their jobs at least partially digitally.
Dwelling was one of the companies that stepped into the ring to help homeowners left in the lurch when contractors couldn't be easily called in during lockdowns. They connect homeowners with home maintenance professionals to help identify what's wrong and tell you how to fix it.
Dwelling is currently free, with plans to add subscription plans in the near future. It's likely selling home repair leads to local professionals for problems that actually need professional help
There's obvious advantages for both sides of the market here. When something goes wrong in their home, homeowners either fix it themselves with Youtube tutorials, or pay $100+ dollars to have someone just come diagnose the problem for them. For service providers, having vetted leads sent to them already diagnosed and scoped could help them become more revenue efficient.
I'm going to focus on the consumer side of the equation here, since I think it would be fairly easy to convince service providers to buy qualified leads.
Here's how I think Dwelling could unlock new levels of growth.
Home maintenance issues are time sensitive and unpredictable. Strategically, the best place Dwelling could be in is to have broad awareness so they're top of mind when an issue pops up.
To do this, they should focus on building their email list, and nurturing contacts through email.
I would start by sending paid social traffic to a landing page allowing homeowners to "access" free expert home advice in exchange for their email, and prompt them to invite their friends when they sign up - perhaps invites even earn homeowners entries into a monthly giveaway for some kind of home service prize.
There's a high chance of a very cheap cost per contact because of the clear value and limited ask, and that can be magnified by asking them to spread the word organically. To make this most efficient for both sides of the market, I'd roll this out on a city-by-city basis.
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Now that there's a steady stream of contacts flowing into their CRM, it's time to activate them. Email will be their primary weapon at this stage.
I'd build drip onboarding sequences to distribute quality home maintenance content interspersed with calls to action pushing users into the Dwelling product. In addition, I'd get serious about newsletter and content production. Develop a content production cadence and a high quality newsletter that provides key home maintenance information for homeowners. Eventually, as issues pop up, users should begin clicking CTAs and moving into the product offering.
Quality is the operative word for content here. You want to be the go-to reference point for home issues when they have them.
If offering entry into a monthly giveaway is working at the acquisition stage of the funnel, then it will likely work even better with happy users who've just used the product. I'd offer even more contest entries to product users who invite friends and share on social after they use the product, since their referral will carry more weight with the people in their networks. Rinse and repeat with new referred users, and you may get a nice self-perpetuating user acquisition machine running.
That's it for today. Thanks for reading!
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