500Startups Mexico #500Strong
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Growth Hacking with Samir Patel at 500Startups Mexico
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500Startups Mexico #500Strong
- 1. 1twitter @meetsamir @500 Mexico City, Feb 12th
- 2. 2twitter @meetsamir The Growth Master • Founder, CEO of DoRevolution and Growth Mentor at 500Startups, Optimized $1B+ in Ads. • Founder of SearchForce and pioneer to apply Wall Street Analytics and Quantitative Trading Techniques to Advertising for Portfolio Optimization. Raised $10M+ in financing, developed a Cross-Channel Optimization SaaS Platform Based and took the company to profitability. • MBA in Brand Marketing from Cornell's Johnson School of Business.
- 3. 3twitter @meetsamir Dave McClure Startup Ecosystem 3 • 1,000 Bootstrap Startups ($0-10K) • = 1,000 Parents/Garages/Basements @ $0-500/mo food+rent • 300 Accelerator Startups ($10-100K) • = 10-20 Accelerators @ $1-5M/yr, 20-50 co’s/yr • 100 Seed-Stage Startups ($100K-$1M) • = 5-10 Micro-VC Funds @ $10-30M/yr, 10-20 co’s/yr • 30 Series A/B Startups ($1-10M) • = 3-5 Early-Stage Funds @ $25-100M/yr, 5-10 co’s/yr • 10 Later-Stage Companies ($10-100M) • = 2-3 Later-Stage Funds @ $50-250M/yr, 3-5 co’s/yr • 1-3 Mature Company IPOs ($100M+)
- 4. 4twitter @meetsamir Growth Trumps all Metrics 4 • High growth companies return 5X more to share holders • Growth predicts long-term success • SuperGrowers (growth rate >60%) when reached $100M were 8X more likely to reach $1B than ones <20% growth rate • Growth matters more than margin or cost structure. Increases in revenue growth rates drive 2X as much market cap gains - McKinsey & Company
- 5. 5twitter @meetsamir Action for You Grow Fast or Die Slow
- 7. 7twitter @meetsamir Reach by Network • Google Search -100 billion global web searches per month. 71% of search market share • Google Display – Over 1 billion monthly users, 6 billion ad impressions per month • AdWords for Video – Over 1 billion unique users per month on YouTube alone • AdCenter – 29% search market share • Facebook – 1.28 billion active users • Twitter – 645 registered users • Linkedin – 300 million users
- 8. 8twitter @meetsamir Platforms 2.0 Search, Social, Mobile, Video, Messaging $100M+ Users Available ~ Dave McClure
- 9. 9twitter @meetsamir Hyper Inflation & Irrational Bidders
- 11. 11twitter @meetsamir But Growth is Hard • Rapid Evolution of Markets • Speed & Machines • Lots of Money at Stake • Increasing precision brings complexity
- 12. 12twitter @meetsamir Easy to Lose Money It’s Complex. Figure out the Gap in your skillset. Pre-mature conclusions
- 14. 14twitter @meetsamir Where to Start? • If you’re trying to drive sales, have a limited budget, and need your advertising investment to deliver a specific return, or at least be directly profitable, start with the Search Network only. • If you’re trying to drive sales but you feel you’ve exhausted the Search market and still have additional budget to spend, expand to Google Display Network (GDN ) & Adwords for Video (AFV) targeting. • If you’re trying to drive sales plus expand awareness and grow your brand, go with all three. • If you have a product or service that’s not well known, and users aren’t likely to search for it directly, or it’s value is hard to explain in a text ad, stick with GDN and AFV targeting. (Video can be particularly useful here!)
- 15. 15twitter @meetsamir Actions • Grow Fast or Die Slow • Markets are hyper-competitive and inflated • Companies are using Artificial Intelligence, Math and Stats to gain competitive advantage • Companies are hiring the best and brightest minds and paying billions for them. It’s the TEAM stupid. • Easy to spend money, hard to make money • Bottom-line : Pay attention OR you will end up in the dead pool.
- 16. 16twitter @meetsamir How to Build an Adwords Growth Engine •Scalable •Repeatab le •Predictab le
- 21. 21twitter @meetsamir 8 Qualities of World Class Growth Teams • Possess Data-Driven Thinking • Rapid Learners of Dynamically Changing Marketing Channels and Growth Platforms • Understand Growth Process • Are Highly Product-Savvy • Have a Hustle Mindset • Possess a Cross-Disciplinary Skillset • Connect Marketing to Product Development • Possess Technical Acumen • Hiring connections
- 23. 23twitter @meetsamir Action for You Reflect on your current know-how
- 25. 25twitter @meetsamir Process • KPI’s • Growthaly tics • Kaizen
- 26. 26twitter @meetsamir Website.com Emails & widgets Campaigns, Contests Biz DevAds, Lead Gen, Subscriptions, etc Homepage / Landing Page Product Features 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Emails & Alerts Blogs, Content System Events & Time-based Features ~ Dave McClure
- 28. 28twitter @meetsamir ~ Brian Balfour
- 31. 31twitter @meetsamir Customer Lifecycle • Acquisition: users come to the site from various channels • Activation: users enjoy 1st visit: "happy" user experience • Retention: users come back, visit site multiple times • Referral: users like product enough to refer others • Revenue: users conduct some monetization behavior AARRR! ~ Dave McClure, 500Startups
- 33. 33twitter @meetsamir Steps to Build an Adwords Account • Expertise to manage Adwords • Define your Audience • Budgeting • Keyword Research • Writing Ads • Building out the Account Structure • 5 Pillars of Optimization
- 34. 34twitter @meetsamir Experiment • Objective • Hypothesis • Design • Resource Estimation • Results • Findings • Action Items
- 35. 35twitter @meetsamir Running Growth Experiments
- 38. 38twitter @meetsamir Establish Objectives and Key Results (OKRs) • Set your objective based on what’s going to have the greatest impact on your business right away • Establish a timeline for testing • Set multiple Key Results (KRs) based on level of difficulty: KR 1 – 90% chance of success. You did a good job. KR 2 – 50% chance of success. You did a great job. KR 3 – 10% chance of success. You hit it out of the park!
- 39. 39twitter @meetsamir Example -- Growth via Adwords: Goal: Lower their CPA for accredited investor signups via AdWords without a significant drop in conversion volume. 1. Focus on Search Network to drive lower CPA 2. Set timeline for 60 days 3. Three Key Results will be attempted: • KR1 -- (90% change of success): Raise conversion volume by 10% by focusing on strategic bid modifications RLSA audience lists. • KR2 – (50% chance of success): Lower CPA by 20% by limiting the keywords they buy to high performing terms only, and setting location bid modifications by income-tier. • KR3 – (10% chance of success): Lower CPA by 20% and raise conversion volume by 10% by combining these two strategies.
- 42. 42twitter @meetsamir Account Structure Pillar
- 47. 47twitter @meetsamir Landing Page Pillar
- 48. 48twitter @meetsamir Ad Copy Pillar
- 50. 50twitter @meetsamir Core Concept : Relevance
- 51. 51twitter @meetsamir Core Concept : Bounce Rate
- 52. 52twitter @meetsamir Quality Score Calculations
- 53. 53twitter @meetsamir Quality Score Calculations
- 54. 54twitter @meetsamir Core Concept : Quality Score
- 56. 56twitter @meetsamir 10 PPC Optimization Tips • Search Query Report • Keyword Match Types • Cross Pollinations: SEO and SEM • Ad Copy Testing • Segmented Reporting for Day Parting • Using Ad Extensions • Budget Adjustments • Competitive Terms • Campaign Structure • Device Based Bidding
- 57. 57twitter @meetsamir AD EXTENSIONS SELLER RATINGS SITELINKS CALL EXT. LOCATION EXT. GOOGLE+
- 61. 61twitter @meetsamir Tell them before you tell them • Mobile Multiple Touch Points • Calls • Apps • Cross Device • Mcommerce & Mobile Sites • In store • 4 Tips: Optimizing Mobile PPC
- 63. 63twitter @meetsamir Calls • This may sound obvious but let's not forget smartphones facilitate an action that is native to the device itself: phone calls. Customers sometimes prefer to purchase by phone. • how a spontaneous party was made possible with purchases made via phone calls.
- 64. 64twitter @meetsamir Apps • Mobile App Economy is 29.5B Gartner, 50B downloaded, 1M apps, 190 Countries • Apps are a great way to enrich your relationship with your customers. App downloads and transactions that happen within your apps are two important sources of value from mobile. • When consumers download your app, it creates new opportunities for conversions.
- 65. 65twitter @meetsamir Open An Existing App
- 67. 67twitter @meetsamir New App Ads • New Installations: Mobile App promotions across search, display and YouTube. • Extract and suggest keywords based on Google Play and Google Seach • Target Customers based on apps they use, frequency of use and in-app purchase history • Reengagement: Ads that redirect inside of apps already installed, Deep Linking • Conversion Measurement: Installation, Reengagement & In-App Purchases
- 68. 68twitter @meetsamir Mcommerce & Mobile Sites • A mobile-friendly site is the cornerstone of any mobile strategy and makes it easier for your customers to purchase directly from their smartphones.
- 69. 69twitter @meetsamir 4 Mobile PPC Optimization Tips • Mobile Bid Adjustments : Need to get on top positions because of form factor, bid higher for location based targeting. • Mobile Preferred Ads : Separate mobile/desktop, Call directly or provide a promotion based on time. Different URL for mobile. • Call Extensions: Ad scheduling based on call center, Your own number or Google’s forwarding number • On Site Call Conversions: Track calls from phone number embedded on website when users need to reach more before they buy
- 70. 70twitter @meetsamir Hack # 87 Adwords is a every changing Beast. Tame it with Process.
- 72. 72twitter @meetsamir BuiltWith DoubleClick, Twitter Ads, AdRoll, RocketFuel, MailChimp, AppNexus, GA, CloudFront etc
- 75. 75twitter @meetsamir Moz Links Explorer
- 77. 77twitter @meetsamir Exit Intent Technology
- 79. 79twitter @meetsamir Samir Patel samir@dorevolution.com President & CEO, DoRevolution Growth Mentor @500Startups Connect on Linkedin