Download - 500 Startups G camp Learning Note

Transcript

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

AARRR

Acquisition: 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 Rules

The 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 Open Rates 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 subscriber’s 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

Susan’s 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 Stages

Codementor

- 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 VERIFICATION

SALES 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 Pricing

Benchmarking - 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- Don’t 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- Don’t 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