DevTools Brew #25: How Harness Found Product-Market Fit, Mastering Developer Marketing Funnel, Latest Funding Rounds in Devtools...
Dear friends, welcome to DevTools Brew #25!
It's been crazy!! 🤯 I've had more subscribers this week than in the last 3 months. I wanted to take a 2-week break from this newsletter, but you left me no choice but to be here! 😅
Thanks to all those who have joined the Devtools Brew community over the last few days. Unexpected! 🙏
If you're new here, my name is Morgan Perry, co-founder of Qovery, and every Saturday I share a roundup of the stories, strategies, and insights behind the successful devtool companies.
In this Issue #25:
📈 How Harness Found Product-Market Fit
💻 Mastering Developer Marketing Funnel
⭐ Star History Weekly Pick
🎙️ Latest Funding Rounds in Devtools
I hope you will enjoy this new edition.
Let's dive in!
📈 How Harness Found Product-Market Fit? Insights From Harness’s CEO
If you haven't heard of Harness yet, get on board! Founded in 2017 by Jyoti Bansal, a serial entrepreneur and technology visionary, Harness stands as a formidable leader in the CI/CD landscape, attaining a remarkable $3.7B valuation in 2022!
Let’s delve into the captivating journey of Harness and his CEO and uncover the pivotal role of customer discovery in steering Harness towards the golden shores of product-market fit.
Key Highlights
A Prelude to Success
Jyoti's Entrepreneurial Track Record
In 2008, he first made the leap from startup engineer to CEO with AppDynamics, a company that was acquired by Cisco for $3.7 billion just under a decade later.
After giving retirement a shot, he returned to the founder seat with software delivery unicorn Harness, cybersecurity platform Traceable, startup accelerator BIG Labs, and VC firm Unusual Ventures…..And he has more than 25 U.S. patents to his name!
The Pursuit of Insights
Transformational Interaction:
Harness' genesis finds roots in Jyoti's interactions with disenchanted AppDynamics customers.
CI/CD Pains at Scale:
Revelations of DevOps engineers dedicating substantial effort to manual deployments.
Identification of the imperative for a software delivery platform automating processes for efficiency.
Banking on Automation:
Large banks, housing numerous engineers, underscore the magnitude of the issue.
Automation emerges as a pressing need for cost and time savings.
Nurturing Customer Discovery
Beyond the Comfort Zone:
Advocating cold outreach beyond familiar networks for unbiased feedback.
Cold contacts offer unfiltered insights essential for meticulous refinement.
"Cold Hard Conversations":
Jyoti's counsel: Engage in approximately 50 direct conversations.
Such interactions validate assumptions, polish messaging, and fine-tune audience profiles.
Embracing Rejection:
Founders must embrace rejection, mastering the art of articulating pain points and solutions persuasively.
Founders as Sellers:
Founders play a pivotal role in conveying pain points and solution value.
This step lays the foundation for a resonance with the potential audience.
The "3 Whys" Framework
Unpacking the Framework:
Jyoti champions a framework driven by three critical queries.
Why Buy Anything?
Assessing the presence of pain and the indispensability of a solution.
Why Buy Now?
Gauging the urgency to resolve the pain immediately.
Why Buy Us?
Evaluating distinguishing factors favoring the purchase of the proposed solution.
Navigating Target Audience
Contrasting Assumptions:
Initial assumptions leaned toward large companies as Harness' prime clientele.
Emergence of Mid-Sized Urgency:
Early customer interactions expose mid-sized companies' urgency in Harness adoption.
Wide-to-Narrow Strategy:
Jyoti advises a gradual shift from broad exploration to specific audience targeting.
Breaking Geographical Boundaries:
Dissolving geographical constraints in customer discovery, embracing global early adopters.
Iterating for Product-Market Fit:
Iterative Pitch Refinement:
Conduct around 50 conversations to refine your pitch.
Messaging Evolution:
Iterations involve adjusting messaging, pain points, and the product's unique value proposition.
Consistency in Pain Points:
Look for consistency in the pain points you're hearing from prospects.
Persona Refinement:
Use iterations to narrow down the ideal customer profile.
Foundational Insight:
Iterative conversations provide insights for building a solid product-market fit foundation.
Moving Towards Minimum Sellable Product (MSP)
Minimum Sellable Product (MSP):
Shift the focus from MVP to creating a Minimum Sellable Product.
Core vs. Differentiating Features:
MSP needs to match or exceed core features of existing incumbents while highlighting your differentiators.
Table Stakes Elements:
Identify the essential features required for your product to be competitive.
Addressing Incumbent Shortcomings:
Address shortcomings of existing solutions in your MSP.
Continuous Iteration:
Keep adjusting your MSP based on evolving market feedback and needs.
Identifying Serious Prospects and Understanding Urgency
Key Questions:
Ask prospects about ongoing initiatives, timelines, and their business cases.
Urgency Indicators:
Prospect urgency is determined by their project timelines and business goals.
Clear Articulation:
Ensure that your product's value proposition aligns with their timeline and business case.
Business Value Alignment:
Determine if your product addresses a pressing business challenge for the prospect.
Assessing Decision-Making:
Understand how the prospect will present the business case to their higher-ups.
Reaching the Right Audience Outside Silicon Valley
Balancing the Bubble:
Going beyond the Silicon Valley tech bubble by recognizing the broader market of 35 million global software developers.
Thought Leader Focus:
Identifying thought-leading companies and teams, irrespective of geographical boundaries, as early adopters
Handling Surprises and Adapting to Changing Market Environment
Technical Surprises:
Early implementation may uncover technical challenges requiring adjustments.
CFO Scrutiny:
In the current market, more scrutiny is expected from CFOs for all deals.
Business Value Emphasis:
Focus on articulating how your product provides efficient solutions and tangible business value.
Efficient Growth Planning:
Strive for efficient growth to ensure sufficient runway.
Economic Uncertainty:
Plan for economic changes and uncertainties that can impact your business plans.
Harness CEO insights epitomize the art of steering a company towards the treasured destination of product-market fit. From the nuanced strategies in early outreach to the persistence in iterative development, his guidance is a testament to the harmonious interplay between customer understanding and strategic product creation.
—> To explore more, read the full article “How Harness found product-market fit: Jyoti Bansal on striking gold with customer discovery” published by UnusualVC.
💻 Mastering Developer Marketing Funnel
The conventional marketing funnel doesn't quite fit developers’ unique persona and preferences. Let’s delve into the key insights of The Developer Marketing Funnel, published by Hockey Stick, and spotlight the intricacies of the developer marketing funnel, shedding light on how to optimize product and content marketing strategies when targeting this discerning audience.
Key Highlights
Differentiation in Developer Funnels
Traditional Funnel: The customer funnel involves awareness, consideration, and conversion stages, leading to a balance between problem-solving and business sustainability.
Developer Funnel: Developers follow a different path due to their practicality, community-centric approach, learning-by-doing behavior, and rational introversion.
Phases of the Developer Funnel
Exploration Stage: Developers are problem-aware and seek solutions compatible with their tech stack. Focus on:
Clear differentiation messaging.
Interactive navigation elements for quick value assessment.
Compatibility markers and programming language integration.
Comprehensive quickstart guides and API documentation.
Demo Stage: Developers test your product in a demo environment. Provide:
Working samples with easy deployment.
A library of templates catering to various use cases.
User-friendly design for improved perception.
Technical content and architecture scenarios.
Internal Sale Stage: Developers need to sell your solution internally. Equip them with:
Use case and solution pages for social proof.
Enterprise-ready feature lists for enterprise targets.
'Convince your boss' content pack for a successful pitch.
Tailored email templates for effective communication.
Tailoring Content for Developers
Differentiation and Compatibility: Prioritize crystal-clear differentiation and compatibility markers, focusing on pragmatic messaging rather than elaborate narratives.
Working Samples and Templates: Offer accessible working samples and a well-designed template library catering to diverse use cases.
Empower Internal Advocacy: Support developers in pitching your solution internally with a comprehensive 'convince your boss' content pack and tailored email templates.
Developer Persona
Practicality: Developers are practical problem-solvers who favor efficiency.
Community-Centric: They actively seek solutions from tech communities.
Learning-by-Doing: Curious self-starters who prefer hands-on experience.
Rational Introverts: Prefer self-serve options over interactions with salespeople.
Strategies for Success
Optimize UX/UI for practicality and efficiency.
Establish a robust community presence.
Provide in-depth technical content.
Empower internal sales advocacy.
In the realm of developer marketing, understanding and catering to the unique traits of developers are vital for success. Crafting content that aligns with their needs, preferences, and behavior across the different stages of the funnel is the key to gaining their attention, driving adoption, and fostering advocacy.
—> To explore more, read the full article “The Developer Marketing Funnel, published by Hockey Stick.
⭐ Star History Weekly Pick
The Star History Weekly Pick is:
Documenso: “The Open Source DocuSign Alternative”
⭐️ 3.1k stars reached
🎙️ Latest Funding Rounds in Devtools
It's been a while since I last shared this section dedicated to the latest fundraising news of devtools companies. Let's get back to it!
Hugging Face raised $235 million in a Series D funding round, reaching a valuation at $4.5B
Highlight, an open-source and full-stack monitoring platform, raised $8M in a Seed round.
Massdriver raised 8M in a Seed round to abstract away infrastructure to let devs focus on coding.
Configu raised a $3M pre-seed round for its configuration-as-code platform
Rootly, an incident response management platform secured $12M
It’s already over! If you have any comments or feedback, you can reach out to me on LinkedIn or Twitter.
Thanks for reading,
Morgan
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The developers funnel is so true! I will use it internally! Thanks Morgan!