How to Grow & Gain Traction
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Transcript of How to Grow & Gain Traction
growHow to
& tractionGain
DO ASK QUESTIONS
??????
?
WHO AMI?
Erik Bernskiöld
Consultant
Entrepreneur &
Businessman
Digital Strategist
SpeakerEconomist
A global full-service boutique digital agency
Advisor Goethe Unibator
Frankfurt am Main
growHow to
& tractionGain
MarketingThis is “just”
TractionWhat is?
The startup Customer Problem
“Almost every failed startup has a product. What failed startups don’t have are enough customers.”
– Traction Book
money…Focus on the
valUation…and not just
“Spend 50% of your time on the product and 50% of your time on traction"
– Traction Book
GrowthWhy?
Growingwhen to start?
scalablewhen you have a
business model
AlwaysYou will
want to grow *
LARGESmallMedium
ENTERPRISERule the world
How do IGet customers?
“It just happened…”
purchasehow Do we decide to?
PREDICTIBLY IRRATIONAL By Dan Ariely
BOOK TIP!
Combination of
Trust & Desire
VALUELoyal Customers
Side noteon trust
Case
LUFTHANSA– A story from this morning –
Two Marketing Strategies
Scalable unScalable
19Traction channels
TRACTION: How Any Startup Can Achieve Explosive Customer Growth
BOOK TIP!
Viral Marketing
PRUnconventional PR
Search Marketing
Social & Display AdsOffline Advertising
SEOContent Marketing
Email Marketing
Engineering Marketing
Targeting Blogs
Business Development
Sales
Affiliate programs
Existing Platforms
Trade ShowsOffline Events
SpeakingCommunity Building
Unconventional PR
Viral Marketing
PRUnconventional PR
Search Marketing
Social & Display AdsOffline Advertising
SEOContent Marketing
Email Marketing
Engineering Marketing
Targeting Blogs
Business Development
Sales
Affiliate programs
Existing Platforms
Trade ShowsOffline Events
SpeakingCommunity Building
Unconventional PR
viral marketing
Customer brings customer brings customer brings customer brings customer brings customer brings customer brings customer brings customer brings customer brings customer
User finds or starts using your product
User tells their friends about it, or
invites them
New users begin using your product
k = i * c
K-Factor
Growth rate
number of invites sent by each customer
percent conversion of each invite
k < 1K-Factor
no viral growth at all!
k = 1 each user brings another new user
k > 1 exponential viral growth
What companies can you think of?
Case
Hotmail
Case
Dropbox
Case
Advertising
Online Offline
The Secrets to
AdvertisingSuccess
Having a brand
Selling a “simple” product
Case
Volkswagen
Case
Volkswagen
Case
Apple
CaseBernskiold Media
(Yes, indeed! My own business)
Public relations
why
PRSucceeds
Is not advertising1
Builds brand2
Builds Trust3
3P’s of PR Storytelling
ProductWhat is your product/service and what does it do? PurposeWhat is your company’s “reason for being”? PassionUse an enthusiastic, authentic tone when telling your story.
3P’s of PR Storytelling
Case#Icebucketchallenge
Case
RYANAIR
Case
NORWEGIAN
Content marketing
Shows expertise
Builds trust & Brand
The Secret toContent marketing
Success
Relevant content
Case
Buffer
Case
Callaway Golf
CaseBernskiold Media
SEO & SEM
Is essentially just advertising
…but highly
targeted
Be there when users actively request to find you!
Case
BETSSON
CaseBernskiold Media
Email Marketing
When Asked for: Highly effective
Automated email & Lead Nurturing
Case
HUBSPOT
CaseBernskiold Media
Sales
High-CosT / Enterprise
Lead Generation
Lead Qualification
Deal Closing
The Sales
Pr0cess
Case
IBM
CaseBernskiold Media
LEAN ANALYTICS
IDEAS
PRODUCT
MEASUREMEASURE
DATA
MEASUREBUILDMEASURELEARN
LEAN ANALYTICS USE Data to build a better startup faster
BOOK TIP!
Lean Marketing Method Choice MODEL
Brainstorm
Rank
Prioritize
Test
Focus
BULLSEYE Framework
Summarized
Case Time
1. Pick a case.
2. Discuss with your peers which traction channels you would choose and why.
3. Be ready to present it to the class.
1. Food Delivery You are the founders of a new startup, “JetztEssen” who delivers food from any restaurant in the city to customers’ home or workplace.
2. E-Commerce You and your friends are very passionate about coffee. Thus, you’ve decided to open up an online store for coffee and accessories for other coffee enthusiasts.
Viral Marketing PR Unconventional PR Search Marketing Social & Display Ads Offline Advertising SEO Content Marketing Speaking
Email Marketing Engineering Marketing Targeting Blogs Business Development Sales Affiliate Programs Existing Platforms Trade Shows Offline Events Community Building
So… What say you?
INSIGHTS Monthly newsletter on digital strategy.
ACADEMY Weekly articles on business, marketing, development and digital.
COURSES Online & offline full courses.
www.bernskioldmedia.com
growHow to
& tractionGain
