[U&I SUMMIT 2017] 500 Startups >> Andrei Marinescu "Growth for Startups"

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Transcript of [U&I SUMMIT 2017] 500 Startups >> Andrei Marinescu "Growth for Startups"

  • / Growth for Startups U&I Summit // 2017.01.21

  • Andrei Marinescu | 500 Distro | @malaparte

    Partner, 500 Startups

    UX-focused growth marketer

    Scaled Hulu Plus to $500M run rate

    Also worked in IoT, Fintech, & Healthtech

    Former scientist

    / Hi, Im Andrei

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Agenda About 500 Startups Growth hacking!? Examples What? Why? When? Where? How? Getting started Summary: pillars of growth References

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  • Andrei Marinescu | 500 Distro | @malaparte

    $205M in AUM2 1,500+ Investments2 Since July 2010/ Most active Silicon Valley1 seed investor

    The various geographies highlighted in the map result from investments we have made across all 500 Startups funds.1. The Silicon Valley Tech Venture Capital Almanac, Fall 2013 and TechCrunch Article May 5, 2015, 500 Startups Aims To Be The Largest VC Shop In The World http://techcrunch.com/2015/05/05/500-startups-aims-to-be-the-largest-vc-shop-in-the-world/2. Approximated as of 11/17/2015 and includes the following 500 Startups funds: (a) 500 Startups, L.P. and 500 Startups-A, L.P. (together, Fund I), (b) 500 Startups II, L.P. and 500 Startups II-A, L.P. (together, Fund II), (c) 500 Startups III, L.P. and 500 Startups III-A, L.P. (together, Fund III), (d) 500 Startups IV, L.P. and 500 Startups IV-A, L.P. (together, Fund IV), (e) 500 Startups Annex Fund, L.P. (Annex), (f) 500 Luchadores, L.P. (Luchadores), (g) 500 Durians, L.P. (Durians), (h) 500 Mobile Collective, L.P. (Mobile Collective, (i) 500 Kimchi, L.P. (Kimchi), (j) 500 TukTuks, L.P. (TukTuks), (k) 500 Startups JP, L.P. ("Japan), (l) 500 Istanbul, L.P. ("Istanbul), and (m) 500 Nordics, L.P. (Nordics)

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Growth hacking!?!?

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Ex: viral growth hack

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Ex: WOM growth hack

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Ex: technical growth hack

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Growth is defined neither by tactics...

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  • Andrei Marinescu | 500 Distro | @malaparte

    / ...nor by silver bullets

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  • Andrei Marinescu | 500 Distro | @malaparte

    APPLICATION OF SCIENTIFIC METHOD TO BUSINESS & PSYCHOLOGY

    / What IS growth?

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Why do you apply it? SCALING BUSINESSES IS NOT INTUITIVE

    Oh shit meeting

    Obviousfixes

    Harderfixes

    Stuff that didnt work

    Step back andthink a bit

    Launch

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  • Andrei Marinescu | 500 Distro | @malaparte

    / When do you apply it?THE CUSTOMER DEVELOPMENT FRAMEWORK IS YOUR GUIDE

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  • Andrei Marinescu | 500 Distro | @malaparte

    WHAT METRIC IS MOST IMPORTANT RIGHT NOW?

    / What do you apply it to?Acquisition

    (Signups, Installs)

    Activation(Users)

    Retention(Repeat Usage)

    Referrals(Invites)

    Revenue($$$)

    AARRR!

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Where do you apply it? TEST & PRIORITIZE ALL RELEVANT CHANNELS AND TACTICS

    SEO

    Conversion rate optimization (CRO) & A/B testing

    User experience (UX) and user testing

    Performance marketing (paid search, display, and retargeting)

    Email marketing

    Content marketing

    Viral loops

    Strategic pricing

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  • Andrei Marinescu | 500 Distro | @malaparte

    / How do you apply it? DEVELOP A GROWTH MACHINE

    Adopt the mindset Change is constantchannels and tactics get commoditized over time

    Be motivated by helping customers achieve their goals

    Be curious: let experimentation and data drive your thinking

    Get process-driven & disciplined

    Key qualities Measurable

    Repeatable

    Scalable

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Where should you start? LETS GET TACTICAL: BIG IMPACT OPPORTUNITIES INCLUDE

    Top of funnel How to reach HUGE new audiences in a cost-effective way

    Middle of funnel Attracting and drawing people deeper into engaging with you

    Bottom of funnel Close to the $$$ - convert higher % and simply make more money!

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  • Andrei Marinescu | 500 Distro | @malaparte

    / Summary: 500s pillars of growth WHAT THE 500 STARTUPS DISTRO TEAM FOCUSES ON

    Understand your customers need(s) Talk to your customers!!!

    Communicate your key value propositions

    Reach new customers where they are & build trust

    Build your growth engine: how are you going to grow?

    Understand your KPIs, their levers & drivers Optimize CAC, payback period, retention, and LTV

    Select and experiment with appropriate channels Prioritize & work only on the stuff that matters!

    Optimize your funnel, one section at a time18

  • Andrei Marinescu | 500 Distro | @malaparte

    / ReferencesDIG INTO THESE RESOURCES TO LEARN MORE Dave McClures Startup Metrics for Pirates Steve Blanks Customer Development Methodology Eric Riess Three Drivers of Growth Andy Youngs Analytics for Startups Brian Balfours The Scientific Method: How to Design & Track Viral

    Growth Experiments Andy Johnss 3 Mandatory Skills Every NextGen CMO Should Know 500 Startups daily DISTROSNACK

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    http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-versionhttp://www.slideshare.net/venturehacks/customer-development-methodology-presentationhttp://www.startuplessonslearned.com/2008/09/three-drivers-of-growth-for-your.htmlhttp://www.slideshare.net/andyjy/how-do-i-analytics-a-practical-guide-for-pragmatic-startupshttps://www.youtube.com/watch?v=0APJlxMjPw4https://www.youtube.com/watch?v=0APJlxMjPw4https://www.youtube.com/watch?v=0APJlxMjPw4https://www.youtube.com/watch?v=p-xxkmvPYckhttp://500.co/distrosnack

  • Andrei Marinescu | 500 Distro | @malaparte

    REACH OUT

    Andrei Marinescu

    @malaparte

    andrei@500startups.com

    / Thank you! Questions?

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    mailto:andrei@500startups.commailto:andrei@500startups.com