Getting to traction - Growth Hacking for startups - my presentation from Google Campus

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    29-Oct-2014
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Getting to traction - Growth Hacking for startups - my presentation from Google Campus. This presnetation covers high level strategy and practical insights on 5 steps to get to traction: - Focus - Delight your customers - Performance marketing - Viral marketing - Hustling

Transcript of Getting to traction - Growth Hacking for startups - my presentation from Google Campus

  • 1. You are here Getting to traction

2. Objective 1. Talk through where to focus! 2. Give practical advice on how to kick start growth 3. Characteristics of successful founders 1. Empathy for the end consumer! 2. Belief ! 3. Knowing when to give up! 4. Focus! ! 4. Characteristics of successful founders 1. Empathy for the end consumer! 2. Belief ! 3. Knowing when to give up! 4. Focus! ! 1. Focus! ! 5. 2. Improving your unit economics! ! 6. 3. Performance marketing! ! 7. 4. Viral growth! 8. 5. Hustle! ! 9. Practical advice Focus Improving unit economics Performance marketing (or Viral growth) Hustle ____________________ Gets you to traction + @nilanp 10. But rst introductions @nilanp 11. s Average price of CHF49 per guest per night 4,000,000 nights @nilanp Vice President Growth HouseTrip.com 12. @nilanp 13. Startups @nilanp 14. Startups Tequila @nilanp 15. Back to traction 16. Revenue 17. Revenue 18. Revenue 19. Death Zone 20. Revenue 21. What does traction feel like ? 22. GROWTH 23. Revenue 24. The anatomy of traction 25. The anatomy of traction 1. Identied a scalable acquisition channel! 2. Improved unit economics support scaling 26. Product - market t 1. Your earning enough per customer! 2. To support acquiring customers in a scalable channel 27. Product - market t 1. Your earning enough per customer! 2. To support acquiring customers in a scalable channel 1. Your earning enough per customer! 2. To support acquiring customers in a scalable channel 28. Objective 1. Talk through where to focus! 2. Give practical advice on how to kick start growth 29. Practical advice Focus A great product Performance marketing (or Viral growth) Hustle ____________________ Traction + @nilanp 30. Characteristics of successful founders 1. Empathy for the end consumer! 2. Belief ! 3. Knowing when to give up! 4. Focus! ! 31. Characteristics of successful founders 1. Empathy for the end consumer! 2. Belief ! 3. Knowing when to give up! 4. Focus! ! 1. Focus! ! 32. Practical advice Characteristics of successful founders @nilanp 33. Practical advice Characteristics of successful founders 1. Empathy for the end consumer 2. Belief 3. Knowing when to give up 4. Focus @nilanp 34. Practical advice Characteristics of successful founders 1. Empathy for the end consumer 2. Belief 3. Knowing when to give up 4. Focus @nilanp 35. Practical advice Focussing to get to traction means 1. Pick one lever 2. Define a prioritising metric 3. Prioritise features and activities 4. Execute @nilanp 36. Practical advice Focus on 1. Getting good unit economics 2. Systemically finding a scalable acquisition channel 1. Performance marketing 2. Viral 3. Hustling 3. Execute @nilanp 37. 2. Improving your unit economics! ! 38. Practical adviceImproving your unit economics means @nilanp 39. Practical advice Building a great product @nilanp Improving your unit economics means 40. Practical advice Building a great product means Delighting your customers @nilanp 41. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium What does improving your unit economics mean ? @nilanp 42. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Improve unit economics 1. eCommerce businesses 1. Margin 2. Conversion rate 2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium / added service 43. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Improve unit economics 1. eCommerce businesses 1. Margin 2. Conversion rate 2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium Why is this important pre- traction? 44. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Improve unit economics 1. eCommerce businesses 1. Margin 2. Conversion rate 2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium Increase the amount you can spend to acquire a customer 45. Practical advice Building a great product some practical advice on how to do this @nilanp 46. Practical advice Building a great product 1. Look at cohorts of user behaviour 2. Build micro conversion events 3. Introduce features to transition users from passive to active 4. Ruthlessly focus on the parts of the funnel where you can have the most impact 5. But above all 47. Practical advice Focus on single users credit: Klinger.io 48. Practical advice Do this and you will 1. Improve your unit economics 2. Earn more per customer 3. Delight your customers @nilanp 49. 3. Performance marketing! ! 50. 3. Performance marketing! ! (Now youve got working unit economics - focus on trafc) 51. Money in Money out 52. Money in < Money out 53. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Whats your objective with performance marketing ? 54. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Whats your objective with performance marketing ? Find a scalable channel 55. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Whats a scalable channel ? 56. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Whats a scalable channel ? A scalable channel is one that if you focus on will enable you take at least 20% of your target market 57. Improve unit economics 1. eCommerce businesses! 1. Margin! 2. Conversion rate! 2. Apps / Freemium! 1. Engagement! 2. Usage frequency! 3. Sign up to premium Whats scalable volume ? 1. Impression volume 2. High intent traffic 3. Relevant targeting Do the maths ! 58. The performance marketing landscape 59. Kwaja slide Where to focus ? 60. Kwaja slide Where to focus ? Where to start ? 61. What I need 62. Targeting 63. Intent Relevance Google Everything! else 64. Practical advice Performance marketing in detail 1. Google 2. Facebook 3. Other stuff @nilanp 65. Google - How it works 66. Practical advice When to trial Google ? 1. When you have a product with better unit economics than the incumbent 2. People already search for your product on Google 67. Practical advice How to set up your first campaign 1. When you have a product with better unit economics than the incumbent 2. People already search for your product on Google 68. Practical advice Google hacks @nilanp 69. Hacking Google - off topic 1. On and off topic trafc! 2. Gmail ads 70. Hacking Google - off topic 1. On and off topic trafc! 2. Gmail ads Gmail ads 71. Hacking Google 1. On and off topic trafc! 2. Gmail ads Off topic adsOff topic targeting 72. Hacking Google 1. On and off topic trafc! 2. Gmail ads 73. Hacking Google 1. On and off topic trafc! 2. Gmail ads 74. Practical advice 2. Facebook @nilanp 75. Practical advice When to trial Facebook ? 1. No volume on Google 2. You can target an audience for your product on Facebook 76. Practical advice When to trial Facebook ? 1. No volume on Google 2. You can develop an audience for your product on Facebook 77. Practical advice Facebook hacks @nilanp 78. Hacking Facebook 1. Similar audiences! 2. Intent targetting:! 79. Hacking Facebook 1. Similar audiences! 2. Intent targetting:! Similar audiences 80. Behavioural targeting 81. Practical advice Content marketing on facebook 1. Build an audience 2. Engage customers in a conversation about your product / industry 3. Promote unique content that ties hand in glove with your product 4. Support positioning 82. Practical advice Content marketing on facebook 1. Build an audience 2. Engage customers in a conversation about your product / industry 3. Promote unique content that ties hand in glove with your product 4. Support positioning Not always scalable 83. Practical advice Performance marketing growth hacks 1. Google 2. Facebook 3. Other stuff @nilanp 84. Practical advice Performance marketing growth hacks 1. Google 2. Facebook 3. Other stuff @nilanp 85. Why u no ? 1. SEO! 2. Email! 3. RTB! 4. Retargetting! 5. Content marketing! 6. Social / instagram 86. Why u no ? 1. SEO! 2. Email! 3. RTB! 4. Retargetting! 5. Content marketing! 6. Social / instagram 87. Why u no ? 1. SEO! 2. Email! 3. RTB! 4. Retargetting! 5. Content marketing! 6. Social / instagram 88. Retargetting 1. Email! 2. Social! 89. Practical advice Performance marketing summary 1. Performance marketing can get you to scale 2. Focus on scalable channels 3. Look for unorthodox routes to market @nilanp 90. 4. Viral growth! 91. Practical advice Pre-requisites 1. Have a great product 2. Have your first 1000 customers 3. Customers are part of high trust networks with other target customers @nilanp 92. Building a viral loop 93. Building a viral loop Customers nd customers Conversion to sign up Conversion to repeat / premium 94. Practical advice Virality 1. Model virality 2. Give away value 3. Identify the right moment to strike 4. Optimise @nilanp 95. Practical advice Modelling virality Viral co-efficient 1credit: Andrew Chen / Rahul Vohra 97. Practical advice Modelling virality Add in carrying capacity Add in retentioncredit: Andrew Chen / Rahul Vohra 98. Practical advice Modelling virality Decrease retention to 50% credit: Andrew Chen / Rahul Vohra 99. Practical advice Virality 1. Model virality 2. Give away value 3. Identify the right mom