little known marketing tricks for growing your early stage startup

8/12/2019 Little Known Marketing Tricks for Growing Your Early Stage Startup

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Little KnownLittle KnownMarketing Tricks for Growing Your EarlyGrowing Your Early

Thought by

Stage Startup


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01

1. The analytics structure that we'll takeyou miles ahead of most startups.

2. The single metric for knowing (notguessing!) you truly reached Product

arket

. "anna get li#e user feedback$ %oushould! &ere are some criticaluestions you should ask.

. The must ha#e tools in order to doall the abo#e. %es all of them are free.


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02

1. This analytics structure that we'lltake you miles ahead of most startups.

Ignore it at your own risk.


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The early stage

classic mistakes startup analytics

to avoid...


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05

*sing the basic +oogle ,nalytics setup -only tracking #ague metrics like #isitorspage#iews time on site and ha#ing no

con#ersions and or ecommerce data inplace.

These lea#es you pretty much cluelesson where con#ersions actually come

from from which channels keywordslanding pages etc.

+uesswork and differing opinions o#er what each of the founders think ( but don't

know for sure! ) that works for marketing


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06

/ot ha#ing users retention analyticssystems. Their structure is only trackingtraffic and sign ups.

So you got the visitors to sign up for a(free or even paid) account. Now what?

How do you know if that user will beengaged enough in order for the trial tobecome a paid account? How will youmake your paying users renew theirsubscription?


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07The optimal analytics structure: the funnel approach

*sers

0ngagedusers

*serretention rate

isitor to useron#ersion 3ate

isitors

The funnel gi#es youclarity and structurein the whole startupchaos en#ironment.

4t's a #ery simpleyet insightful #isualrepresentation of

how good (or bad!)you're doing at allstages of your usere5perience.

6tri#e to measure

,77 T&0 ",% fromentering the site tosignup to actualproduct engagement

6ocial media P3 608 PP0mail 3eferrals ,ffiliates


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08Build a funnel according to your

business model

6plit the funnel intomore steps if you ha#eto eg. Visitor > Trial User

> Paying User >Engaged Paying user(uses your productconstantly)

Track con#ersion ratesat each step of the

funnel. 7et the funnel set yourpriorities for instance9

Load of isitors notrials " focus on t#e

alue proposition website$

Loads of trials but #ardlyany paying users "focus on t#e productitself

*sers

0ngagedusers

*serretention rate

isitor to useron#ersion 3ate

isitors

6ocial media P3 608 PP0mail 3eferrals ,ffiliates


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10So to be better at marketing than most

startups you need to:

6etup an analytics system and make your

decisions based on that data. This way you'llknow (not guess!) what happens.

The best structure for analytics is the funnelstructure where you track ,77 the key stagesof your users e5perience

;on't settle for tracking


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11

2. The single most critical metric for knowingyou truly reached Product arket :it

&int9 its related to the funnel


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Now, moving forward....,s an early stage startup getting toproduct market fit is (or at least should be)your absolute no 1 priority.

%ut #ow do you know w#en you get t#ere&


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13

The obvious signals

*sers


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14If only there was one single metric thatcan reliably tell you if you've reached

product market fit that would be...

6ean 0llis has this awesomemetric9

=ut who is 6ean 0llis$

6tartup arketing +odfather was the first marketer for;rop=o5 >obni and7og e4n founder of?ualaroo and+rowth&ackers.com.


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15

6o the metric is....

The @ of your users who will say that9

$ our product is a ust #a e for t#e

(or t#at)

*$ T#ey'd be ery disappointed if t#ey couldno longer use your product


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16How does this work in detail:

+ou send people the following survey ,uestion*

a) ery disappointed A they see it as a must haveb) 6omewhat disappointed A they see it as nice to havec) /ot disappointed (it really isnBt that useful) A they don't care

d) / , A 4 no longer use %our Product A they don't care either


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17

Sean !llis's "olden rule of thumb:

Product arket :it (P :) is when youha#e at least CD@ of your sur#eyresponding users saying they'd be #erydisappointed if they could no longer useyour product.

E CD@ is e#en better2D F D@ scaling is possible but waymore difficultG 2D@ A trying to scale will kill you


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18So keep in mind that for #roduct $arket %it:

he - of users who will say they d be verydisappointed if they could no longer use yourproduct is the most critical metric

+our target for this metric is /0-

+ou get there by really focusing on the product.

s absolute numbers# you don t need thousandsof respondents to validate this conclusion1 a fewdo%ens will do.

he ,uestion will bring you priceless insight on!H+ people in your funnel (don t) go from usersto engaged users.


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19"oing back to the analytics structure that will make you a better at marketing than

most startups:

The funnel(s) will tell you "&,T happens li#euser feedback will tell you "&% that happensF at least e ually important.

...and speaking of user feedback let's mo#e on

to that.


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20

"etting live user feedback: what and how toask users

&ere is a list of critical uestions you shouldha#e the users answer on their e5perience at

different stages of the funnel.


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"here did you first hear

about us$


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&ow could we impro#e this

product (or page or o erall site) $


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"ere you able to find theinformation you were looking for$

%es 4 was looking for..../o 4 was looking for...


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"hat con#inced you to pay

for our product$


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"hat was the one thing (if any)that almost made you abandon

sign up$


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;id you e#aluate any of ourcompetitors before buying our

ser#ice$

%es (please tell us which one)/o


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27

6ur#ey monkey F theone we use forHclassicalI sur#eys(also has a freemium)

4perceptions F great forfiguring out users intent- how you deli#er onthat. (they ha#e a

freemium as well)

?ualaroo F agile onsitesur#ey tool great fortargeting users basedon their time on sitepage traffic sourceetc. (/o freemium#ersion a#ailable butthey do ha#e a trial)

Survey tools you could use to ask this


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Speaking of free tools &ere's the basic list of tools we recommendusing as a startup and that also ha#efreemiums (fore#er free plans)


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+eneral traffic analytics

/ewsletters

Transactional emails

:unnels retentioncohort analysis


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2age speed optimisation

7i#echat 6oftware

H lassicalI 6ur#eys

*ser intent - taskcompletion rateanalysis


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&appy 6tartup arketing

arius Pop:ounder - 08 ;irect 6park

y social contacts9
http://ro.linkedin.com/in/pmarius/https://www.facebook.com/marius.pop.501?fref=tshttps://twitter.com/marius_tweets

little known marketing tricks for growing your early stage startup

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