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 Model

  • Conversion)

    Referral)

    Growth = 2 Funnels

    PRO!!

    Paid

    Signup

    Confirm

    Request

    CRO!!

  • - 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

  • Content Marketing

  • 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

    Language research

    Talking At is boring. Listening + responding to what u hear is Engaging

  • Email Marketing

  • 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

  • Must Test

  • Susans Advice- Title: 3 Free Office Hour you are invited - Wow / Free/ What!! - Red botton - Signup for free now - Signup now-$0

  • Sales Hacking

  • 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

    Example

  • 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

  • Use Pipeline

    - 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

  • Pricing

  • 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

    (Anchor Principle)

  • 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

    http://www.shopline.hk/about/team

  • 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