500 Startups G camp Learning Note
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Transcript of 500 Startups G camp Learning Note
500 Startups G Camp take away notes
March 21-22 Rosemarie
Topics- Growth Model - Content Marketing - Email Marketing - Sales Hacking - Pricing - PR for Startups
Growth = 2 Funnels
- Run 3-5 per week (at least) - Start with the most impactful - Run Smoke Tests - Analyze - Iterate - Share Knowledge - Get Ideas From ALL STAKEHOLDERS
Constant ExperimentsIterations matter more than perfect stats
AARRRAcquisition: more traffic, higher SERP rankings Activation: more signups become active users MAU Retention: higher engagement and LTV Revenue: higher conversion rate and AOV Referral: tell ur friends -more new users! SHARE
Content Marketing Tips- Irresistible subject lines - Cross-promote own content - User research-backed content clairvoyance - Pulls in influencers - Multi-channel distribution and engagement
(blog, Twitter, FB, YouTube, email, influencer networks)
Content + Reach!! Build Channels
- post 10-15 times in 2 month - Use# on twitter
Golden RulesThe best sales is based on listening, the best CM is based on RESEARCH.
Keyword research Topic research
Talking At is boring. Listening + responding to what u hear is Engaging
5 Factors that Influence OpenRates Average open rate is below 30%
1. Subject line 2. Sender 3. list quality 4. Snippet preview 5. Content
Golden RulesSubject lines MATTER: They impact a subscribers perception of your ENTIRE email. First 10-15 characters MOST important: use action words.
Target and segment: based on previous behavior (open, click, buy) based on events outside of email (ie, use MixPanel)
Measure what matters: Opens/ Click/ Conversion/ Subscribe/ Unsubscribe
Mobile First!!! Over 65% of email gets opened on mobile FIRST.
Golden RulesThe Content REALLY Matters - Subject line - Preview text - IMAGES - Body - Always have a CTA (Call To Action) - Include link reminding people
Susans Advice- Title: 3 Free Office Hour you are invited - Wow / Free/ What!! - Red botton - Signup for free now - Signup now-$0
Use CRM (SaaS)customer Relationship Management
- Track leads - Provides data on your sales process - Example - Percentage of wins v loss - Transparency on outside
communication across teams
Define Sales StagesCodementor- Lead - Signup - Request - Matched - Buy Credits - Sessions - Payment
Lead Scoring- Chance that the customer will close - Based on metrics of previous sales performance
- Have assumptions about whom the best customers are, and prove that through your sales process by selling to them.
DATA HARVESTING TOOLSLEADS AS A SERVICE
LEAD VERIFICATIONSALES AUTOMATION TOOLS
- The amount of potential customers (revenue) you have in yours sales process
- Understand the % of your won/lost ratio so you can forecast to meet sales goals
Before PricingBenchmarking - What are customers paying now? - What do competitors charge? - Are you offering a comparable service?
Benefit Analysis - Why are people buying? - Financial Motive - Convenience - Risk Reduction
Pricing Skill- Skimming Model = Monopolies - Penetration Model = Capture market - Higher Prices = More SALES (Based on quality, Trust) - Always Be A/B Testing: Sensitivity/ Targeting - Exclude key features to drive up-sell - Price Anchoring
Incentives- Upfront discount for annual plans - Subscription Discounts - Referral / Reference Discounts - Freemium - Visual Focus
PR for Startups
Public Relations and Press Relations
- Awareness - Social proof of brand - Fundraising
Get PRStep0- Press Kit Step1- Know ur customers Step2- Honeypot Technique aka attraction Step3- Dont pitch, let them know. Step4- ROI on the Techcrunch Effect
Step0- Press Kit
Step1- Know ur customers
- Follow reporter / outlet - Look 4 reporters who are covering ur
competitors - Relate ur story to smthg they just published
Step2- Honeypot Technique aka attraction
1. Stepping stones through smaller coverage
2. Ur own content marketing
3. Syndication of ur own content
Step3- Dont pitch, let them know.
- Multi-channel, esp Twitter - Press release & press contact.
Step4- ROI on the Techcrunch Effect
- Landing page!!!!! - Let more press know
The endOpen Discussion Time