lean marketing - how to maximize growth with a minimum budget

Lean MarketingHow to Maximize Your Growth with a

Minimum BudgetBy

Shamir Ozery

[email protected]

@ozery

It’s not about Digital Marketing…It’s about Marketing in a Digital World.

by @ozery

2011Tech Marketing Landscape

~150 Companies

2016Tech Marketing Landscape

~3,800 Companies

Marketing is becoming a Digital Profession

by @ozery

Rapid Change• Technology• Market• Competitors• Tools• Customer needs• …

Thriving in a Digital World demands the ability – and willingness to adapt.

by @ozery

First, some

Basic Terms

What is Lean ?

centered on making obvious what adds valueby reducing everything else

Lean is

using fewer resources and eliminating waste while maximizing valueLean is

A Brief History of Agile/Lean…

ManufacturingSoftware

DevelopmentProcess

Development

Marketing

Development

• Ford (early 1900s)• Toyota TPS (1940s)• Genchi gembutsu• …

• Scrum (1995)• The Agile Manifesto

(2001)• Kanban• …

• The Lean Startup (2009)• Agile Project Mgmt• Lean Leadership• …

• The Agile Marketing Manifesto (2011)

• Lean Marketing• …

by @ozery

Lean=

optimizing the efficiency of a given process to eliminate

waste

Agile=

increasing speed and adaptability, embracing change

and feedback

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The LeanStartup

- By Eric Ries

1. Customer Discovery2. Build an MVP3. Measure Results4. Validate5. Pivot or Optimize

MVPMinimum Viable Product

The smallest or simplest incarnation of a product that a company believes will resonate with its target audience

Example…

Not Lean

Lean

by @ozery

Lean/Agile Marketing

• Small experiments

• Testing and data

• Intimate customer tribes

• Engagement + transparency

vs

Conventional Marketing

• A few large bets

• Opinions and conventions

• Impersonal mass markets

• Posturing and ego

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KPI’sKey-Performance-Indicators

Organizational Success Metrics“The most important performance information that enables organizations or their stakeholders to understand whether the organization is on track or not.”

- Bernard Marr

CPACost Per Acquisition

LTVLifetime Value

Two Key Metrics:

Example…

$100 LTV- $60 CPA

=$40 RPURevenue Per User

Beware of

Vanity Metrics

Ad A

5% CTR @$2 CPC

Ad B

PPC Example…

Campaign Landing Page

2% CTR @$3 CPC


Which ad is the better performer?

by @ozery

Ad A

5% CTR @$2 CPC

Ad B

PPC Example…


Conversion

2% Conversion Rate

2% CTR @$3 CPC


Conversion

5% Conversion Rate

CPA = $100 CPA = $60

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Actionable Metric Examples

• CPA

• LTV

• Revenue

• Leads/Customers

• Conversion Rates

• Attribution

• …

Vanity Metric Examples

• Impressions

• Traffic

• Click-Through-Rate (CTR)

• Time on site

• Social Likes

• Yes. Blog comments too…

• …

by @ozery

The Customer Journey(aka Conversion Funnel)

The 80/20 Rule

(aka The Pareto Principle)

80%of effects come from

20%of causes

The 80/20 Rule

In Business…80% profits

20% customers

80% sales

20% products

80% complaints

20% customers

…

In Marketing…80% revenue

20% campaigns

80% sales

20% marketing channels

80% website traffic

20% keywords

The 80/20 Rule

In Marketing…

80% of your growthwill come from 20%of your efforts & resources

20%

20%

80%

80%

by @ozery

Guiding Principles

1 2 3Work Smarter Not Harder

EliminateUncertainty

Build-Measure-Learn

by @ozery

1


by @ozery

Define your

KPIs“The only metrics that entrepreneurs should invest energy in collecting are those that help them make decisions”

-Eric Ries

Track your

KPIs

Business Metrics• CPA• LTVAnalytics Metrics• Goals• EventsCampaign Metrics• …

DiscoverGo qualitative

before you go

quantitative

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Discover

• Ask• Observe(your customers)

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MorningPass the time,

Energy,Wake up(!)

Parents (for kids)

Professionals

AfternoonThin, fruit flavored

Buyer Persona

Consumer need

Product adjustment

Messaging adjustment

Example: Milkshake Marketing

Rich, coffee flavored

“It gets your day started!”

Less messy, Health (!)

“Fruity and nutritious!”

by @ozery

• Owned Media• Paid Media• Distribution Channels• Keywords• Trends• …

Discover

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Spyon your competitors

http://goldy--gry.deviantart.com/favourites/54259507/Spy-vs-Spy

• Estimated Spend?• Online Assets?• Channel Strategies?• Tactics?• Keywords?• USP & Messaging?• Conversion Funnel?• …


by @ozery

Copyefficiencies

Exploitinefficiencies


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Plan“In preparing for battle, I have always found that plans are useless but planning is indispensable”

- Dwight D. Eisenhower

Things will rarely go according to plan(but you should still have one)

There’s a lot you can do, hypothesize what you should do?

Build a marketing plan around:1. Expected efficacy2. Existing resources

Plan

Choosing marketing channels

• Blogs• Publicity• Unconventional PR• Search Engine Marketing• Search Engine Optimization• Social and Display Ads• Offline Ads• Content Marketing• Speaking Engagements

• Email Marketing• Viral Marketing• Engineering as Marketing• Business Development• Sales• Affiliate Programs• Existing Platforms• Trade Shows• Offline Events• Community Building

Traction: How Any Startup Can Achieve Explosive Customer Growth by Gabriel Weinberg & Justin Mares by @ozery

http://amzn.to/1XCBqVN

Choosing marketing channels – Example 1 (B2B)





Choosing marketing channels – Example 2 (B2C)





A Few Eliminate Uncertainty Tools1

Competitive Research

Keyword/ Social Research

Surveys

2

Work SmarterNot Harder

by @ozery

Reporting (example)Google Analytics Dashboard

Automate

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Reporting (example)Moz Keyword Dashboard

Automate

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Consider a CRM

Automate

Example: Evernote’s Onboarding Framework

• Day 1 - Welcome Email. We will send you 5 tips.

• Day 3 - Quick Tip #1. Main activation action.

• Day 10 - Quick Tip #2. Secondary activation action.

• Day 17 - Promotional Email #1. Go Premium.

• Day 19 - Quick tip #3. Cool feature.

• Day 27 - Quick Tip #4. Another cool feature.

• Day 29 - Did you know?

• Day 31 - Promotional Email #2. Go Premium.

• Day 36 - Quick tip #5. Awesome feature.

Create

GREATContent(and tell your story in a way that sticks)

It’s not about SEO, it’s about delivering value

Create


by @ozery

• Blog posts• Infographics• Videos• Whitepapers• Webinars• Podcasts• …

Create


“Gifts”

“Anniversary Gifts”

“15th Wedding Anniversary Crystal Gifts”

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“Gifts”

“Anniversary Gifts”

“15th Wedding Anniversary Crystal Gifts”

SEO PPC

SEO +

PPC

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Create a

Lead MagnetGive them something

GREATfor FREE

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Make it

Super Easy to buy

https://blog.kissmetrics.com/landing-page-design-infographic/ by @ozery

https://blog.kissmetrics.com/landing-page-design-infographic/ by @ozery

(B2B) Example…

Request Demo

Visit Sales Call

CustomerProspect Lead Qualification

Onboarding99%

by @ozery

(Ecommerce) Example…

Add to cartVisit Purchase

Prospect Lead Customer

50%

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No nav bar or external links

Prominent very yellow button

Buy from us with one click next time!

Use our credit card (promotion)!

Wanna buy more?by @ozery

Prioritize & Leverage(marketing activities, content creation etc…)

Wrote a great blog post?

• Consider outreach for guest post

• Get it in front of influencers

• Share it on Social Media

• Share it via Email

• Look for online discussions

• Turn it into an infographic

• …

by @ozery


Presenting at a Tradeshow?

• Blog about it

• Leverage Email

• Run PPC campaign around it

• Strategic Connections? follow on Twitter, connect on LinkedIn

• …

by @ozery

Prioritize prospects over strangers

• Remarketing

• Email

• Google Customer Match

•…


by @ozery

Explore New & Underutilized Channels Time

Avg CPC

Marketing Channel Cycle

by @ozery

Neuroscience Education Company?

Consider Quora

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Ecommerce?

Consider Pinterest

A Few Work Smarter Not Harder Tools2

Social

Design

Automation CRM Email

by @ozery

3

Build-Measure-Learn

(Think Big Start Small)

by @ozery

The smallest marketing activity you can start generating learningfrom

Run

MVCsMinimum Viable Campaigns

by @ozery

Run

MVCsMinimum Viable Campaigns

Purposes1. Test a Marketing hypothesis with

minimal resources2. Accelerate learning3. Reduce wasted marketing hours4. Get in front of customers as soon

as possible5. Base for other campaigns

by @ozery

“Weight Loss” or

“Lose weight”

?Analyze

& Optimize

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“Weight Loss” converts better than

“Lose weight”

PPC SEO feedbackPPC can be turned on/off and teach you about keyword performance

Analyze & Optimize

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Analyze & Optimize

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Analyze & Optimize

Pivot or

Persevere

• Zoom-In• Zoom-Out• Channels• Customer Segment• Customer Messaging

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A Few Build-Measure-Learn Tools3

AnalyticsA/B TestingLanding page

creation

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Remember…

1 2 3Work Smarter Not Harder


Build-Measure-Learn

by @ozery

ThanksShamir Ozery

[email protected]/in/shamirozery

@ozery

AppendixBooks, Links and other stuff…

Related Links

• http://www.kpcb.com/internet-trends• http://kk.org/thetechnium/1000-true-fans/• http://fourhourworkweek.com/2009/05/19/vanity-metrics-vs-actionable-metrics/• http://sethgodin.typepad.com/seths_blog/2005/09/what_makes_an_i.html• http://kk.org/thetechnium/1000-true-fans/• http://agilemarketingmanifesto.org/• http://www.businessesgrow.com/2014/04/03/12-experts-define-key-performance-indicators-kpis/• http://chiefmartec.com/2016/03/marketing-technology-landscape-supergraphic-2016/• https://blog.kissmetrics.com/landing-page-design-infographic/• https://en.wikipedia.org/wiki/Lean_software_development• http://mrdgcollins.blogspot.com/2014/05/developing-grit-and-growth-mindset.html• http://www.buzzstream.com/blog/a-crash-course-in-minimum-viable-marketing.html• http://quickbooks.intuit.com/r/marketing/startup-marketing-101-what-is-minimum-viable-marketing• http://www.onedesk.com/2013/07/lean-vs-agile/• https://www.youtube.com/watch?v=hwQQFTr4WfM

http://www.buzzstream.com/blog/a-crash-course-in-minimum-viable-marketing.html


http://fourhourworkweek.com/2009/05/19/vanity-metrics-vs-actionable-metrics/

http://sethgodin.typepad.com/seths_blog/2005/09/what_makes_an_i.html

http://kk.org/thetechnium/1000-true-fans/





https://en.wikipedia.org/wiki/Lean_software_development

http://mrdgcollins.blogspot.com/2014/05/developing-grit-and-growth-mindset.html


http://quickbooks.intuit.com/r/marketing/startup-marketing-101-what-is-minimum-viable-marketing

http://www.onedesk.com/2013/07/lean-vs-agile/

http://www.onedesk.com/2013/07/lean-vs-agile/

Books

• The Lean Startup by Eric Ries

• Traction: How Any Startup Can Achieve Explosive Customer Growth by Gabriel Weinberg & Justin Mares

• Hacking Marketing: Agile Practices to Make Marketing Smarter, Faster and More Innovative by Scott Brinker

• Top 101 Growth Hacks by Aladdin Happy

http://amzn.to/25LjU2P


http://amzn.to/1XCBV2a

http://amzn.to/1XCBwwG

Some Content Hacks

Content Ideas

Quotes, Fill-in-the-blank, Polls, Behind the scenes, Statistics, Infographics, Ask for reviews and advice, fan photos, tips, industry news, coupons, expert insights, product Q&A’s etc….

Twitter

• Tweets with images: +18% CTR +89% favorites +150% retweets

• Add hashtags to your bio and your tweets

• Follow your target audience, they may follow back

by @ozery

• Headlines with numbers are x2 more likely to generate clicks vs. “how to headlines”

• Odd numbered headlines have a 20% better CTR than headlines with even numbers

• Outbrain found that using [brackets] in a headline bumped CTR by 38%

• Send THE SAME email with a different subject line to your non-opens.

Some Email Hacks

by @ozery

Perfect email headline formulas:

• Who Else Wants [blank]?

• The Secret of [blank]

• Here is a Method That is Helping [blank] to [blank]

• Little Known Ways to [blank]

• Get Rid of [problem] Once and For All

• Here’s a Quick Way to [solve a problem]

• Now You Can Have [something desirable/great circumstance]

Some Email Hacks

by @ozery

Some PPC Hacks

• Improving Google Quality Score from 1 to 10 reduces CPCs by 800%

• Adding negative Keywords

• Comparing CPM with CPCs

• Comparing Search with Display

• Targeting less competitive (long tail) keywords

by @ozery

Send me a note for more (seriously)!

Shamir [email protected]

linkedin.com/in/shamirozery@ozery