Startup Marketing Conference - Stacking the Odds for Authentic, Sustainable Growth
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Startups require a very different marketing approach than established companies. This slide deck from the first marketer at Dropbox, LogMeIn, Lookout and others explains how you prioritize your marketing efforts in a startup. It starts by give you a way to determine startup’s growth potential or if it's even growable at all. It then explains why stacking the odds is critical for reaching your startup’s growth potential and tells you how to stack the odds for growth. Finally it shares a case study explaining how a startup overcame growth frustrations to become worth more than one billion dollars today.
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Startup Marketing Conference - Stacking the Odds for Authentic, Sustainable Growth
- 1. Stacking the Odds For Authentic,SustainableGrowth Sean Ellis Founder& CEO Qualaroo& GrowthHackers.com
- 2. Agenda • How todetermine startup’sgrowthpotential • Whystackingthe oddsis critical forreachingyourstartup’sgrowth potential • How tostacktheoddsforgrowth • Casestudy–How stackingthe oddsforgrowthwascritical tobuilding a$1B+company
- 3. About Me • Founder/CEOatQualaroo& GrowthHackers.com • PreviouslyVP MarketingfromcustomerzerotoIPO filing at LogMeIn & Uproar.com • Then6-monthmarketingrolesatDropbox,Lookout, Eventbrite…
- 4. Marketer’sRole? Marketer’s Role? Realize full growth potential of a product • Tapintofull potentialforauthenticgrowth • Growingbeyondpotentialisunsustainable • Product/marketfit definespotential
- 5. P/M Fit Foundation P/M Fit Foundation Foundation of all sustainable growth Growth Stacking the Odds Product/Market Fit
- 6. Product/MarketFit Product/Market Fit Authentic growth requires product marketfit • Largegroupwantsorneeds yourproduct
- 7. MustHave Experience MeasuringP/M Fit Measuring yourstartup’s growth potential “Very Disappointed” Recommendation More than 40% Focus on retention cohorts, start transitioning Less than 40% Keep iterating product, positioning, and targeting Must HaveQuestion How wouldyoufeel if youcouldno longer user [Product]? Usage • Lengthofvisits • Repeatvisits
- 8. MustHave Experience Must Have Experience Thekeyasset for a product/marketfit startup • How do“musthave” customersuseproduct? • Ask:Whatisthemain benefityoureceive? • Ask:Whyis thatbenefit importanttoyou?
- 9. P/M Fit Foundation Stackingthe Odds Critical for reachingyourgrowth potential Growth Stacking the Odds Product/Market Fit
- 10. WhyStack the Odds? Stack the Odds for Growth Optimize percentage that reachmust have experience • Opens profitablemarketingchannels • Makesallmarketingmoreprofitable • Beatcompetitionin channels Growth Stacking the Odds Product/Market Fit
- 11. Stacking the Odds How to Stack theOdds Optimize to reachyourgrowth potential • Increasedesireformusthaveexperience • Reducefrictiontodelivering MH experience Growth Stacking the Odds Product/Market Fit Desire–Friction =ConversionRate
- 12. IncreaseDesire Increase Desire Understand visitor intent • Ask:Whatareyouhoping[X]can doforyou? • Ask:Doesthispagemakeyouwanttosign up? • User test for“ahamoments”
- 13. Reduce Friction Reduce Friction Find friction preventing must have experience • Studyfunnelanalyticsfordropoffs • Ask:Anythingpreventing youfromsigning up? • Runusabilitytests(Usertesting.com)
- 14. Start testing variations StartTesting Variations Test to increase desire and reduce friction • Stronghooksbasedonintent research • Fix issues(fearandconfusionfriction) • Testing never stops…
- 15. Calibrate growth engine CalibrateGrowth Engine Valuedelivery machine • Hookandpromiseconnect • “Promise”aboutmust haveexperience(authenticityover response) Must-Have experience Hook Promise
- 16. OrganicGrowth Organic Growth Strong value delivery drives organic growth • Retention/loyalty • Wordof mouth • Up selling
- 17. P/M Fit Foundation ScaleGrowth JoinFreeGrowthHackers.com Community Growth Stacking the Odds Product/Market Fit
- 18. Case Study Case Study Optimization unlocks growth • Growthbeforeoptimizationwasfrustrating • First 4monthsofOptimization:1000%visit-to-purchaserate improvement • Growthchannelsnowscaled • Over $1Bvaluationtoday
- 19. Key Takeaways Key Takeaways Optimization unlocks growth 1. Marketerroleis toreachpotential 2. Product/marketfit definespotential 3. Understandmusthaveexperience 4. Increasedesire, reducefriction 5. Valuemachinedrives organicgrowth