Growth hacking and marketing
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Startup Marketing key concepts and Growth Hacking approaches. Relationship to marketing and viral growth.
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Growth hacking and marketing
- 1. vvv Growth Hacking + Marketing May 28 2013 @wmougayar #GrowthHackTO wmougayar@gmail.com
- 2. vvv Topics • Full stack of marketing • The Product/Market fit • Market Positioning • Marketing Warfare • Marketing your customers and letting them market you • Linking growth hacking to marketing • What did we at Engagio • Q&A – Town hall style 7:40pm.
- 3. vvv Growth is the most important thing for a startup. If you don’t grow, you won’t exist. May 2013 (C) William Mougayar www.startupmanagement.com
- 4. vvv Hacking…the tough part is figuring out organic growth. May 2013 (C) William Mougayar www.startupmanagement.com
- 5. vvv Growth Hacking is . . . ① Analytics ② Marketing ③ Product ④ User Experience User Growth Revenue Growth Engagement GrowthMay 2013 (C) William Mougayar www.startupmanagement.com 6
- 6. vvv Hacking your Growth is a temporary thing…hopefully.
- 7. vvv Marketing is a Mix of Activities
- 8. vvv Marketing in Motion Segmentation Pricing Advertising Branding Distribution Product Positioning Research Communications Events Email marketing for Outbound Interruption advertising Direct-mail Demand generation Customer marketing Account-based marketing Gamification SEO/SEM Social Customer Advocacy Inbound/Content Analytics/Growth Hacks Mobile Video Virality Real-time Native Traditional Table stakes Fading Digital © 2013 William Mougayar May 2013 (C) William Mougayar www.startupmanagement.com
- 9. vvv Positioning: The Battle for your Mind “It’s the first company to build the mental position that has the upper hand, not the first company to make the product. IBM didn’t invent the computer; Sperry-Rand did. But IBM was the first to build the computer position in the prospect’s mind.” - Al Ries & Jack Trout 10
- 10. vvv Positioning starts with your product, but it is not what you do to a product. Positioning is what you do to the mind of the prospect. May 2013 (C) William Mougayar www.startupmanagement.com 11
- 11. vvv Some rules for Positioning 1. Be First 2. Blogging is communicating 3. Understand the meaning of words 4. What will you sacrifice? 5. Position for defensability 6. Dissociate your company from your product 7. If you’re not #1, try to be the first to occupy #2 8. Don’t forget the less viral physical world May 2013 (C) William Mougayar www.startupmanagement.com 12
- 12. vvv “You must create a position in the prospect’s mind that takes into consideration not only your strengths and weaknesses, but also those of your competitors as well.” May 2013 (C) William Mougayar www.startupmanagement.com 13 -- Al Ries & Jack Trout, Positioning: The Battle for your Mind
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- 15. vvv Marketing Warfare -- Al Ries & Jack Trout, Marketing Warfare
- 17. vvv Marketing your Customers • Telling stories about what they are doing with your product • Letting them tell their own stories • Uncover how your product has transformed them, not how they are using it, e.g. Google, Prius. See book “Who do you want your customers to become” by Michael Schrage May 2013 (C) William Mougayar www.startupmanagement.com 18
- 18. vvv Marketing and Growth MVP + Iterations Growth Hyper-Growth Leadership Ecosystem # employees Market your position # users Figure out your virality Enrich your value Nurture your partners Product Company Market focus focus focus Variables Post Pre © 2013 William Mougayar Product/Market Fit Revenues May 2013 (C) William Mougayar www.startupmanagement.com
- 19. vvv Growth Hacking Evolution • Operationalize what works • Email is also a growth marketing tool • Retention and re-engagement are growth related • Blow some metric • Don’t think Analytics…Think Actionable Analytics • Data Analysts in big co’s – take longer to get decisions approved, can’t trial and error too much • Reporting is for stable businesses that have known growth characteristics. You want to model the velocity and dynamism of your business as a startup. • Growth hacking will not help a product that sucks May 2013 (C) William Mougayar www.startupmanagement.com 20
- 20. vvv Discussion • Is Growth Hacking part of Marketing, linked to Marketing or parallel to Marketing? • Does Growth Hacking end when you have figured out Product/Market fit? • Anything I said that you didn’t agree with, or that we should be discussing further? May 2013 (C) William Mougayar www.startupmanagement.com 21
- 21. vvv Thank you William Mougayar @wmougayar wmougayar@gmail.com www.wmougayar.com Startup Management: www.startupmanagement.com May 2013 (C) William Mougayar www.startupmanagement.com