getting to traction - growth hacking for startups - my presentation from google campus

You are here

Getting to traction

Objective1. Talk through where to focus!2. Give practical advice on how to

kick start growth

Characteristics of successful founders

1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!

!

Characteristics of successful founders

1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!

!

1. Focus!!

2. Improving your unit economics!

!

3. Performance marketing!

!

4. Viral growth!

5. Hustle!!

Practical adviceFocus Improving unit economics Performance marketing (or Viral growth) Hustle ____________________ Gets you to traction

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@nilanp

But first introductions…

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sAverage price of CHF49 per guest per night

4,000,000 nights…

@nilanp Vice President Growth HouseTrip.com

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Startups

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Startups Tequila

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Back to traction

Revenue

Revenue

Revenue

Death Zone

Revenue

What does traction feel like ?

GROWTH

Revenue

The anatomy of traction

The anatomy of traction

1. Identified a scalable acquisition channel!

2. Improved unit economics support scaling

Product - market fit

1. Your earning enough per customer!

2. To support acquiring customers in a scalable channel

Product - market fit

1. Your earning enough per customer!

2. To support acquiring customers in a scalable channel

1. Your earning enough per customer!

2. To support acquiring customers in a scalable channel

Objective

1. Talk through where to focus!2. Give practical advice on how to

kick start growth

Practical adviceFocus A great product Performance marketing (or Viral growth) Hustle ____________________ Traction

+

@nilanp

Characteristics of successful founders

1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!

!

Characteristics of successful founders

1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!

!

1. Focus!!

Practical adviceCharacteristics of

successful founders

@nilanp

Practical adviceCharacteristics of

successful founders

1. Empathy for the end consumer 2. Belief 3. Knowing when to give up 4. Focus

@nilanp

Practical adviceCharacteristics of

successful founders

1. Empathy for the end consumer 2. Belief 3. Knowing when to give up 4. Focus

@nilanp

Practical adviceFocussing to get to traction means…

1. Pick one lever 2. Define a prioritising metric 3. Prioritise features and

activities 4. Execute

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Practical adviceFocus on

1. Getting good unit economics 2. Systemically finding a scalable

acquisition channel 1. Performance marketing 2. Viral 3. Hustling

3. Execute

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2. Improving your unit economics!

!

Practical adviceImproving your unit economics means…

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Practical advice

…Building a great product

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Improving your unit economics means…

Practical adviceBuilding a great product means…

…Delighting your customers

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Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

What does improving your unit economics mean ?

@nilanp

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

Improve unit economics1. eCommerce businesses

1. Margin 2. Conversion rate

2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium / added service

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

Improve unit economics1. eCommerce businesses

1. Margin 2. Conversion rate

2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium

Why is this important pre-traction?

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

Improve unit economics1. eCommerce businesses

1. Margin 2. Conversion rate

2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium

Increase the amount you can spend to acquire a

customer

Practical adviceBuilding a great

product

… some practical advice on how to do this

@nilanp

Practical adviceBuilding a great

product1. Look at cohorts of user behaviour 2. Build micro conversion events 3. Introduce features to transition

users from passive to active 4. Ruthlessly focus on the parts of

the funnel where you can have the most impact

5. But above all…

Practical adviceFocus on single

userscredit: Klinger.io

Practical adviceDo this and you

will…

1. Improve your unit economics 2. Earn more per customer 3. Delight your customers

@nilanp

3. Performance marketing!

!

3. Performance marketing!

!(Now you’ve got working unit economics - focus on traffic)

Money in Money out

Money in < Money out

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

What’s your objective with performance marketing ?

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

What’s your objective with performance marketing ?

Find a scalable channel

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

What’s a scalable channel ?

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

What’s a scalable channel ?

A scalable channel is one that if you focus on will enable you take at least 20% of your target market

Improve unit economics

1. eCommerce businesses!1. Margin!2. Conversion rate!

2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium

What’s scalable volume ?

1. Impression volume 2. High intent traffic 3. Relevant targeting

Do the maths !

The performance marketing landscape

Kwaja slide

• Where to focus ?

Kwaja slide

• Where to focus ?Where to start ?

What I need…

Targeting

Intent

Relevance

Google Everything!else

Practical advicePerformance

marketing in detail

1. Google 2. Facebook 3. Other stuff

@nilanp

Google - How it works

Practical adviceWhen to trial

Google ?

1. When you have a product with better unit economics than the incumbent

2. People already search for your product on Google

Practical adviceHow to set up your

first campaign

1. When you have a product with better unit economics than the incumbent

2. People already search for your product on Google

Practical adviceGoogle hacks

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Hacking Google - off topic

1. On and off topic traffic!2. Gmail ads

Hacking Google - off topic

1. On and off topic traffic!2. Gmail ads

Gmail ads

Hacking Google

1. On and off topic traffic!2. Gmail ads

Off topic adsOff topic targeting

Hacking Google

1. On and off topic traffic!2. Gmail ads

Hacking Google

1. On and off topic traffic!2. Gmail ads

Practical advice2. Facebook

@nilanp

Practical adviceWhen to trial Facebook ?

1. No volume on Google 2. You can target an audience

for your product on Facebook

Practical adviceWhen to trial Facebook ?

1. No volume on Google 2. You can develop an

audience for your product on Facebook

Practical adviceFacebook hacks

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Hacking Facebook

1. Similar audiences!2. Intent targetting:!

Hacking Facebook

1. Similar audiences!2. Intent targetting:!

Similar audiences

Behavioural targeting

Practical adviceContent marketing

on facebook1. Build an audience 2. Engage customers in a

conversation about your product / industry

3. Promote unique content that ties hand in glove with your product

4. Support positioning

Practical adviceContent marketing

on facebook1. Build an audience 2. Engage customers in a

conversation about your product / industry

3. Promote unique content that ties hand in glove with your product

4. Support positioning

Not always scalable

Practical advice

Performance marketing growth

hacks

1. Google 2. Facebook 3. Other stuff

@nilanp

Practical advice

Performance marketing growth

hacks

1. Google 2. Facebook 3. Other stuff

@nilanp

Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram

Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram

Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram

Retargetting

1. Email!2. Social!

Practical advicePerformance

marketing summary

1. Performance marketing can get you to scale

2. Focus on scalable channels 3. Look for unorthodox routes

to market@nilanp

4. Viral growth!

Practical advicePre-requisites

1. Have a great product 2. Have your first 1000

customers 3. Customers are part of high

trust networks with other target customers

@nilanp

Building a viral loop

Building a viral loop

Customers find customers

Conversion to sign up

Conversion to repeat / premium

Practical adviceVirality

1. Model virality 2. Give away value 3. Identify the right moment

to strike 4. Optimise

@nilanp

Practical adviceModelling virality

Viral co-efficient <1credit: Andrew Chen / Rahul Vohra

Practical adviceModelling virality

Viral co-efficient >1credit: Andrew Chen / Rahul Vohra

Practical adviceModelling virality

Add in carrying capacity Add in retentioncredit: Andrew Chen / Rahul Vohra

Practical adviceModelling virality

Decrease retention to 50%credit: Andrew Chen / Rahul Vohra

Practical adviceVirality

1. Model virality 2. Give away value 3. Identify the right moment

to strike 4. Optimise

@nilanp

Focus!!

Give away value!NOT money!

Focus!!

=

Focus!!

=

Focus!!

=

Practical adviceVirality

1. Model virality 2. Give away value 3. Identify the right moment

to strike 4. Optimise

@nilanp

Practical adviceModel engagement

engagement

time

Practical adviceModel engagement

engagement

time

Practical adviceModel engagement

engagement

time

5. Model and optimise!!

Optimise!

Practical adviceVirality

1. Modelling virality 2. Give away value 3. Curves of engagement 4. Model and optimise

@nilanp

Hustle!!

5. Hustle!!

1. Talk to your customers

1. Talk to your customers

Talk to customers!

2. Find more customers!

2. Find more customers!

Find more customers!

Guerilla marketing!

3. Testathon!4. !

4. UserTest!!

Conferences!!

Objective1. Talk through where to focus!2. Give practical advice on how to

kick start growth

Characteristics of successful founders

1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!

!

Characteristics of successful founders

1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!

!

1. Focus!!

2. Improving your unit economics!

!

3. Performance marketing!

!

4. Viral growth!

5. Hustle!!

Practical adviceFocus Improving unit economics Performance marketing (or Viral growth) Hustle ____________________ Traction

+

@nilanp

You are here

Getting to traction

@nilanp