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How to Do User Acquisition.pdf

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How to Do User Acquisition.pdf

  2. 2. What is user acquisition Channels for user acquisition Inbound marketing framework Important metrics What you'll learn today ITEMS TO BE DISCUSSED
  3. 3. if budget is not the issue, how big your product launch should be? LET'S START WITH A QUESTION
  4. 4. 60% of new product launch ideas never even make it to market. Of the 40% that do, only 60% are able to generate enough revenue to become commercially viable. Other studies found that between 30% and 80% of new products fail, depending on the industry. FACTS!
  5. 5. WHAT happened mostly AFTER PRODUCT LAUNCH Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 40 30 20 10 0 Pass product market fit Customer acquisition cost is too expensive Current marketing model can't sustain the high CAC
  6. 6. Fine-tuning your operations & marketing runway are essential in achieving your exponential growth Product isn't ready for rapid growth WHY MOST PRODUCT LAUNCHes FAIL You don't want to just acquire people, you want to win their heart & loyalty Not having a strong onboarding & retention plan Mapping your marketing plan more than just making 3-months social media campaign Lack of long-term acquisition strategy
  7. 7. The goal of today's workshop is to help you prepare Against bad product launches, unclear marketing strategy and most importantly-- against every odds in your user acquisition
  8. 8. THE ELEMENTS OF USERS ACQUISITION Setting up marketing objectives Defining your channels Building your campaign Scaling up your ops & growth
  9. 9. THE ELEMENTS OF USERS ACQUISITION Setting up marketing objectives Defining your channels Building your campaign Scaling up your ops & growth
  10. 10. KNOW THE DIFFERENCE! Metrics that drive your business directly, affecting your overall company growth E.g: gross merchandise value (GMV), monthly recurring revenue (MRR) Business Objectives Metrics that drive your brand presence & equity directly. Might or might not affect your business growth directly. E.g: total installs, registration, new customers Marketing Objectives Metrics that drive the growth of your individual marketing channels e.g: organic installs, installs from FB ads, total participants in webinar, etc Marketing Channel Objectives
  11. 11. Earn 700M IDR monthly GMV through passenger acquisition Capture 300M IDR monthly GMV through food delivery product Champion customer perception as number 1 superapp in Indonesia Example: Gojek Business Objective: Grow annual GMV to 12b IDR Referral: earn 300M through referral campaign Paid: capture 400M monthly GMV through FB ads Google Ads: Secure 30k daily food transaction through SEM campaign Survey: Conduct a. brand awareness survey 2x per quarter Top-of-mind awareness: score 30% brand recall for superapp category Marketing Objectives: Marketing Channel Objectives:
  12. 12. Drive 300,000 new trial users Increase trial-to- paid user conversion rate from 5% to 10% Establish brand perception as no. 1 point-of-sale system in Indonesia FB Ads: garner 200K new trial users FB Ads: improve cost-per-leads from 150k to 100k Organic: earn 30k new registration through social media link Website: implement new UI element to drive conv. rate for top funnel Pop-up: implement pop- up campaign for any drop-off user in registration page Survey: Conduct a. brand awareness survey 1x per quarter Social media: surpass competitors' follower base by +30% Example: moka pos Business Objective: Get 30,000 new paid users in 2019 Marketing Objectives: Marketing Channel Objectives:
  13. 13. MAKE SURE YOU MONITOR THE COST PER ACQUISITION How much does it cost to acquire one user? Does it correlate positively with how much you're gaining from each customer?
  14. 14. e.g: partnership with a particular brand/product/government institution that might elevate your brand equity, doing product/feature launch, etc When you saw an opportunity that you need to take to grow your brand/product Making sure that we have a proper tracking system for ad campaign, having a working report for our analytics purpose, etc When you want to establish a particular hygiene process/habit when do we use qualitative metrics?
  15. 15. THE ELEMENTS OF USERS ACQUISITION Setting up marketing objectives Defining your channels Building your campaign Scaling up your ops & growth
  17. 17. Cognitive & practical usage of your products as seen by the users e.g: list of features, product benefits, ease-of-use, etc Reason-to-use Emotional & perceptual reason of credibility & efficacy as seen by the users e.g: number of existing users, availability throughout Indonesia, endorsement, co-branding, etc Reason-to-believe there are two reasons why people use your products
  18. 18. Reason-to-use Reason-to-believe
  19. 19. Rinso identified that its users believe that the more bubbles one detergent generated, the more effective is the product. Hence, they added it to their formula of success. REASON-TO- BELIEVE CAN BE ANYTHING
  20. 20. Which part of my products would be most appealing to my users? P.S: not everything is that important though QUESTIONS TO BE ASKED What are the elements that I need to add to my product to make it more believable? From progress bar, loading screen, or celebrity endorsement-- all toward one end: preventing people from dropping off
  22. 22. How do people discover you? What kind of product category, moment, or use cases that your product would be most useful in? Remember that being discovered is the key Juggling between multiple type of hardsell & softsell content is the key Know when to convert fans to users Stop buying followers! They will give you instant credibility but sluggish organic followers' growth Engagement is the key BEHOLD, THE THREE PHASES OF MANAGING SHARED MEDIA
  23. 23. What topics that you want to focus on? Is there any particular subjects that you want to be the thought leader in? Focus on the discovery-based content You might have limited resource, but that's okay. Everyone starts somewhere. Make sure your channel let it be IG, Google My Business, are well managed Pick channels that you can manage How do you want your user to perceive you as a brand? Is it witty, caring, ambitious, or quirky? Establish your tone-of-voice Ready as in having a minimum of 1k+ followers. You don't want to create unsustainable growth where you have to pay to reach each new plateau Use ads/scale up whenever you feel like ready what to do in your first 100 days of social media presence
  24. 24. Product education (they are among the 1st in marketplace model), seller education, and the potential of tapping into online business Focus on the discovery-based content Instagram, Facebook, seller community, and a little bit of SEO in between. Pick channels that you can manage Down-to-earth, approachable. This is necessary to capture the interest of both sellers & buyers. Establish your tone-of-voice Start scaling up at 5k followers for both customers & seller acquisition Use ads/scale up whenever you feel like ready
  25. 25. WHEN TO USE offline MARKETING? - [Event] When you want to convey your product education/presence to targeted pool of audience - [Community] When you want to create a strong C2C relationship of your product users - [Partnership] When you want to leverage others' brand audience for your own
  26. 26. THE ELEMENTS OF USERS ACQUISITION Setting up marketing objectives Defining your channels Building your campaign Scaling up your ops & growth
  27. 27. Remember the funnel?
  28. 28. CAMPAIGN HAS ONE TOO! Think beyond just making an attractive campaign--think about making your brand experience delightful to your users. Introducing Inbound Marketing framework.
  29. 29. ATTRACT Regularly post about international travel destination in blogs and social media CLOSE Sending targeted promo to selected users based on their browsing behaviour CONVERT Develop a newsletter containing upcoming & current travel promo to all registered users DELIGHT Loyalty points that can be redeemed for another flight HERE'S HOW the inbound marketing framework works for airasia
  30. 30. ATTRACT Create e-book & bite-sized content about business growth for SMEs. Focus the SEO strategy around 'ide bisnis' CLOSE Tailored promo from sales & telesales team based on length of product subscription CONVERT Utilize free 14-day trial in website form registration & DELIGHT Subs renewal promo & exclusive community membership for existing users HERE'S HOW the inbound marketing framework works for MOKA POS
  31. 31. This means picking SEO-focused keyword that will lead people to knowing your brand Centralize your content marketing strategy oround brand discovery TIPS IN BUILDING YOUR INBOUND MARKETING FRAMEWORK When people type your brand, what would be the top 3 search results that popped up? Focus on building your digital PR SEO & content marketing take some time to grow. If your current approach doesn't work, do more A/B testing Be patient!
  33. 33. THE ELEMENTS OF USERS ACQUISITION Setting up marketing objectives Defining your channels Building your campaign Scaling up your ops & growth
  34. 34. How much in months/year does it take for you to pay off your CAC Payback Period THREE metrics TO BE CONSIDERED! How much profit that you gained from one user over time Customer Lifetime Value How much cost does it take to acquire one user Customer Acquisition Cost
  35. 35. THE FORMULA CAC = Operational expense+marketing expense/#new customers CLTV = (Contribution Margin from Customer) x (Average Lifespan of Customer) Payback period = CAC/Contribution margin from customer (how much $$ you gain from each trx)
  36. 36. THE CAVEAT BE WARY OF THESE WHEN SCALING UP YOUR OPS & GROWTH - Ratio between CAC & CLTV. Aim for CAC<CLTV - Monitor your payback period. It will be helpful for your future investment round - Know when to cut corners & maintaining quality--you don't want to piss off your loyal customers
  37. 37. case study: Tokopedia OVERVIEW As Tokopedia is growing, their CAC and CLTV grew exponentially to the point in which they have to slow down the CAC rise while maintaining a solid growth in CLTV. ACTION STEPS - Reduce the cap on free ongkir feature - Shift the free ongkir as a vital part of their loyalty program - Utilize cashback discount from mobile payment & bank partners instead of subsidizing it
  38. 38. Thanks! Now, let's go to the brainstorming session