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Sep 15, 2022 · 30m · product-market-fit

How to Launch a Consumer Product | Andrew Graham, Founder of Borrowell · PMF Show

Andrew Graham · 21m spoken Pablo Srugo · 7m spoken
0:00 / 0:00
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In this episode of The Product Market Fit Show, Borrowell co-founder and CEO Andrew Graham breaks down the strategy behind launching Canada's first free credit score product. He shares actionable insights on securing major corporate partnerships, executing targeted PR campaigns, and leveraging earned media to drive explosive user growth and venture funding.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Pablo holds 24.8% of the talking time here. How this is scored →

Pablo as informed peer 3.8 Guest teaching 2.6 Guest disagreement 0.6 Pablo pushing back 0.6
05100:0010:0020:0030:000:46–5:02 · Pablo as informed peer 4/10 Market Opportunity and Conviction Behind Free Credit Scores Pablo sets the strategic context distinguishing consumer vs B2B product launches and questions whether offering a paid product for free was an obvious win. Andrew explains the nuance of their loan underwriting funnel challenges and bringing free credit scores to Canada first.5:02–7:56 · Pablo as informed peer 4/10 Launch Goals, Funnel Metrics, and Existing Assets Pablo asks targeted operational questions regarding list sizes, conversion benchmarks, and funnel goals. Andrew details the multi-step verification funnel and initial monetization strategy.7:56–12:19 · Pablo as informed peer 3/10 Negotiating the Strategic Partnership with Equifax Pablo presses on how an early-stage startup successfully negotiated leverage with a massive monopoly partner like Equifax. Andrew candidly attributes their success to a well-structured proposal combined with lucky executive timing.12:19–14:36 · Pablo as informed peer 4/10 Multi-Channel Strategy and Prioritizing Earned Media Pablo inquires why Borrowell favored traditional earned media over modern digital-first channels. Andrew explains the land-grab dynamics of fintech PR and leverages his personal journalism background.14:36–22:37 · Pablo as informed peer 5/10 Tailoring the Story and PR Execution Logistics Pablo proposes a fundraising parallel that 80% of PR success is just story quality versus optimization, and asks if warm intros are equally vital. Andrew politely reframes both points, arguing execution counts for 30-40% and that PR uniquely benefits from broad cold outreach.22:37–26:23 · Pablo as informed peer 3/10 Managing Launch Logistics, Timing, and Media Embargoes Pablo asks about launch timing coordination. Andrew educates the host on advanced PR embargo dynamics, warning how exclusive early leaks can ruin broader press coverage.26:23–29:49 · Pablo as informed peer 3/10 Launch Results, Ongoing PR Strategy, and Series A Raising Pablo asks how the launch performed against VC expectations and how it transitioned into Series A fundraising. Andrew reflects on sustaining PR momentum with regional data hooks.29:49–30:49 · Pablo as informed peer 4/10 Summary and Episode Conclusion Pablo delivers an articulate, high-level summary synthesizing the core product launch takeaways and wraps up the interview.0:46–5:02 · Guest teaching 3/10 Market Opportunity and Conviction Behind Free Credit Scores Pablo sets the strategic context distinguishing consumer vs B2B product launches and questions whether offering a paid product for free was an obvious win. Andrew explains the nuance of their loan underwriting funnel challenges and bringing free credit scores to Canada first.5:02–7:56 · Guest teaching 2/10 Launch Goals, Funnel Metrics, and Existing Assets Pablo asks targeted operational questions regarding list sizes, conversion benchmarks, and funnel goals. Andrew details the multi-step verification funnel and initial monetization strategy.7:56–12:19 · Guest teaching 3/10 Negotiating the Strategic Partnership with Equifax Pablo presses on how an early-stage startup successfully negotiated leverage with a massive monopoly partner like Equifax. Andrew candidly attributes their success to a well-structured proposal combined with lucky executive timing.12:19–14:36 · Guest teaching 2/10 Multi-Channel Strategy and Prioritizing Earned Media Pablo inquires why Borrowell favored traditional earned media over modern digital-first channels. Andrew explains the land-grab dynamics of fintech PR and leverages his personal journalism background.14:36–22:37 · Guest teaching 4/10 Tailoring the Story and PR Execution Logistics Pablo proposes a fundraising parallel that 80% of PR success is just story quality versus optimization, and asks if warm intros are equally vital. Andrew politely reframes both points, arguing execution counts for 30-40% and that PR uniquely benefits from broad cold outreach.22:37–26:23 · Guest teaching 5/10 Managing Launch Logistics, Timing, and Media Embargoes Pablo asks about launch timing coordination. Andrew educates the host on advanced PR embargo dynamics, warning how exclusive early leaks can ruin broader press coverage.26:23–29:49 · Guest teaching 2/10 Launch Results, Ongoing PR Strategy, and Series A Raising Pablo asks how the launch performed against VC expectations and how it transitioned into Series A fundraising. Andrew reflects on sustaining PR momentum with regional data hooks.29:49–30:49 · Guest teaching 0/10 Summary and Episode Conclusion Pablo delivers an articulate, high-level summary synthesizing the core product launch takeaways and wraps up the interview.0:46–5:02 · Guest disagreement 1/10 Market Opportunity and Conviction Behind Free Credit Scores Pablo sets the strategic context distinguishing consumer vs B2B product launches and questions whether offering a paid product for free was an obvious win. Andrew explains the nuance of their loan underwriting funnel challenges and bringing free credit scores to Canada first.5:02–7:56 · Guest disagreement 0/10 Launch Goals, Funnel Metrics, and Existing Assets Pablo asks targeted operational questions regarding list sizes, conversion benchmarks, and funnel goals. Andrew details the multi-step verification funnel and initial monetization strategy.7:56–12:19 · Guest disagreement 0/10 Negotiating the Strategic Partnership with Equifax Pablo presses on how an early-stage startup successfully negotiated leverage with a massive monopoly partner like Equifax. Andrew candidly attributes their success to a well-structured proposal combined with lucky executive timing.12:19–14:36 · Guest disagreement 1/10 Multi-Channel Strategy and Prioritizing Earned Media Pablo inquires why Borrowell favored traditional earned media over modern digital-first channels. Andrew explains the land-grab dynamics of fintech PR and leverages his personal journalism background.14:36–22:37 · Guest disagreement 2/10 Tailoring the Story and PR Execution Logistics Pablo proposes a fundraising parallel that 80% of PR success is just story quality versus optimization, and asks if warm intros are equally vital. Andrew politely reframes both points, arguing execution counts for 30-40% and that PR uniquely benefits from broad cold outreach.22:37–26:23 · Guest disagreement 1/10 Managing Launch Logistics, Timing, and Media Embargoes Pablo asks about launch timing coordination. Andrew educates the host on advanced PR embargo dynamics, warning how exclusive early leaks can ruin broader press coverage.26:23–29:49 · Guest disagreement 0/10 Launch Results, Ongoing PR Strategy, and Series A Raising Pablo asks how the launch performed against VC expectations and how it transitioned into Series A fundraising. Andrew reflects on sustaining PR momentum with regional data hooks.29:49–30:49 · Guest disagreement 0/10 Summary and Episode Conclusion Pablo delivers an articulate, high-level summary synthesizing the core product launch takeaways and wraps up the interview.0:46–5:02 · Pablo pushing back 1/10 Market Opportunity and Conviction Behind Free Credit Scores Pablo sets the strategic context distinguishing consumer vs B2B product launches and questions whether offering a paid product for free was an obvious win. Andrew explains the nuance of their loan underwriting funnel challenges and bringing free credit scores to Canada first.5:02–7:56 · Pablo pushing back 0/10 Launch Goals, Funnel Metrics, and Existing Assets Pablo asks targeted operational questions regarding list sizes, conversion benchmarks, and funnel goals. Andrew details the multi-step verification funnel and initial monetization strategy.7:56–12:19 · Pablo pushing back 1/10 Negotiating the Strategic Partnership with Equifax Pablo presses on how an early-stage startup successfully negotiated leverage with a massive monopoly partner like Equifax. Andrew candidly attributes their success to a well-structured proposal combined with lucky executive timing.12:19–14:36 · Pablo pushing back 1/10 Multi-Channel Strategy and Prioritizing Earned Media Pablo inquires why Borrowell favored traditional earned media over modern digital-first channels. Andrew explains the land-grab dynamics of fintech PR and leverages his personal journalism background.14:36–22:37 · Pablo pushing back 2/10 Tailoring the Story and PR Execution Logistics Pablo proposes a fundraising parallel that 80% of PR success is just story quality versus optimization, and asks if warm intros are equally vital. Andrew politely reframes both points, arguing execution counts for 30-40% and that PR uniquely benefits from broad cold outreach.22:37–26:23 · Pablo pushing back 0/10 Managing Launch Logistics, Timing, and Media Embargoes Pablo asks about launch timing coordination. Andrew educates the host on advanced PR embargo dynamics, warning how exclusive early leaks can ruin broader press coverage.26:23–29:49 · Pablo pushing back 0/10 Launch Results, Ongoing PR Strategy, and Series A Raising Pablo asks how the launch performed against VC expectations and how it transitioned into Series A fundraising. Andrew reflects on sustaining PR momentum with regional data hooks.29:49–30:49 · Pablo pushing back 0/10 Summary and Episode Conclusion Pablo delivers an articulate, high-level summary synthesizing the core product launch takeaways and wraps up the interview.

speaking balance: gold is Pablo, purple is the guest (3 minute bins)

0:00 · Pablo 62.8% · guest 37.2%0:00 · Pablo 62.8% · guest 37.2%3:00 · Pablo 21.4% · guest 78.6%3:00 · Pablo 21.4% · guest 78.6%6:00 · Pablo 14.8% · guest 85.2%6:00 · Pablo 14.8% · guest 85.2%9:00 · Pablo 12.4% · guest 87.6%9:00 · Pablo 12.4% · guest 87.6%12:00 · Pablo 32% · guest 68%12:00 · Pablo 32% · guest 68%15:00 · Pablo 16.6% · guest 83.4%15:00 · Pablo 16.6% · guest 83.4%18:00 · Pablo 22.2% · guest 77.8%18:00 · Pablo 22.2% · guest 77.8%21:00 · Pablo 19.7% · guest 80.3%21:00 · Pablo 19.7% · guest 80.3%24:00 · Pablo 14.6% · guest 85.4%24:00 · Pablo 14.6% · guest 85.4%27:00 · Pablo 13.8% · guest 86.2%27:00 · Pablo 13.8% · guest 86.2%30:00 · Pablo 98.3% · guest 1.7%30:00 · Pablo 98.3% · guest 1.7%
Sharpest disagreement ▶ 21:20 Andrew reframes host's 80/20 fundraising comparison

Andrew gently counters Pablo's premise that PR is 80% product quality like fundraising, explaining that execution is much more significant (30-40%) and that mass cold outreach works far better in PR.

 Hardest push from Pablo ▶ 10:19 Pablo presses on negotiating leverage with Equifax

Pablo challenges the assumption that partnering with an entrenched monopoly is straightforward for a tiny startup, pushing Andrew to explain how they actually secured the deal.

 Biggest teaching moment ▶ 23:20 Andrew explains embargo risks and PR timing hazards

Andrew details advanced media embargo mechanics, explaining how giving an early scoop to one paper can kill coverage across all other major outlets.

 Pablo holds their own ▶ 14:33 Pablo draws sharp contrast between B2B and consumer launch dynamics

Pablo demonstrates strong domain expertise by comparing B2B outbound customer discovery with consumer product launch mechanics and press framing.
the scores for every segment, with the reasoning behind each
ChapterTopicPablo as informed peerGuest teachingGuest disagreementPablo pushing backWhy
Market Opportunity and Conviction Behind Free Credit Scores 4311 Pablo sets the strategic context distinguishing consumer vs B2B product launches and questions whether offering a paid product for free was an obvious win. Andrew explains the nuance of their loan underwriting funnel challenges and bringing free credit scores to Canada first.
Launch Goals, Funnel Metrics, and Existing Assets 4200 Pablo asks targeted operational questions regarding list sizes, conversion benchmarks, and funnel goals. Andrew details the multi-step verification funnel and initial monetization strategy.
Negotiating the Strategic Partnership with Equifax 3301 Pablo presses on how an early-stage startup successfully negotiated leverage with a massive monopoly partner like Equifax. Andrew candidly attributes their success to a well-structured proposal combined with lucky executive timing.
Multi-Channel Strategy and Prioritizing Earned Media 4211 Pablo inquires why Borrowell favored traditional earned media over modern digital-first channels. Andrew explains the land-grab dynamics of fintech PR and leverages his personal journalism background.
Tailoring the Story and PR Execution Logistics 5422 Pablo proposes a fundraising parallel that 80% of PR success is just story quality versus optimization, and asks if warm intros are equally vital. Andrew politely reframes both points, arguing execution counts for 30-40% and that PR uniquely benefits from broad cold outreach.
Managing Launch Logistics, Timing, and Media Embargoes 3510 Pablo asks about launch timing coordination. Andrew educates the host on advanced PR embargo dynamics, warning how exclusive early leaks can ruin broader press coverage.
Launch Results, Ongoing PR Strategy, and Series A Raising 3200 Pablo asks how the launch performed against VC expectations and how it transitioned into Series A fundraising. Andrew reflects on sustaining PR momentum with regional data hooks.
Summary and Episode Conclusion 4000 Pablo delivers an articulate, high-level summary synthesizing the core product launch takeaways and wraps up the interview.

Statements from this episode (8)

Assertion Supported
Borrowell was the first to offer free credit scores in Canada
“So in Canada, we were the first. No one had done it before in Canada. In other countries, especially in the US it had been you know, other companies did offer free score or had started doing that a few years before but it had never come to Canada. And so we we…”
Andrew Graham Sep 15, 2022 ▶ 4:23
Disclosure
Borrowell leveraged an existing 20k email list for its product launch
“I would say somewhere between a thousand and a 100,000, the sort of 10, 10, 20,000 person range.”
Andrew Graham Sep 15, 2022 ▶ 5:47
Insight
Pitching hyper-localized data can sustain earned media coverage post-launch
“One of the great things about, you know, the product for free credit scores is there's a lot of data involved. So within a month or two, we could go to other markets. I remember I went to Saskatoon soon after the launch and we could say, Here's the average cre…”
Andrew Graham Sep 15, 2022 ▶ 9:17
Insight
Short-term PR agency contracts are valuable for major product launches
“We don't use agencies all that often when it comes to PR agencies, but for a launch like this, it can be super valuable to use a PR agency sort of on contract for a short period, because they often have a lot of those relationships and they'll know who's look…”
Andrew Graham Sep 15, 2022 ▶ 20:21
Insight
Unlike fundraising, startup PR requires both warm intros and mass outreach
“Compared to fundraising, I think there is more of a case for sort of like a mass reach out when it comes to PR. So with a PR strategy, I think, you know, you may want to pick five or 10 journalists or bloggers who you think are like the key audience for this a…”
Andrew Graham Sep 15, 2022 ▶ 21:21
Insight
Inexperienced founders should avoid negotiating story timing or embargoes with reporters
“So if you haven't done PR before, I would not recommend trying to negotiate with reporters about who's going to write about what, when.”
Andrew Graham Sep 15, 2022 ▶ 23:23
Insight
Early media leaks risk killing launch coverage from competing journalists
“The risk is if someone writes about you ahead of time, meaning ahead of your launch, then it's possible that no one else will cover it because you can say, well, my launch was on the 12th and they'll say, well, the golden mail wrote about it on the ninth. I do…”
Andrew Graham Sep 15, 2022 ▶ 23:42
Insight
Include quotes in pitch emails so writers can publish without interviewing
“It's super helpful to include a quote or two from you or whoever the spokesperson is from the company so that they can sort of plug that directly into to a piece you know, to their own piece without having to interview you.”
Andrew Graham Sep 15, 2022 ▶ 25:20
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