Why CMOs need to adopt Growth Hacking

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by Stephen Goodman, Director, Cambridge Office and Partner

by Stephen Goodman, Director, Cambridge Office and Partner

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  • 1. Why CMOs need to adopt Growth HackingB2B CampMicrosoft NERD, Cambridge, MASeptember 29th, 2012Stephen GoodmanDirector, Cambridge Office and Partner @ViewfromMadrone Stephen Goodman Confidential and Proprietary September 2012
  • 2. Complexity of Marketing Disruption of Digital Channels September 29 , 2012 th Growth HackingSeptember, 2012 Stephen Goodman / Confidential and Proprietary 2
  • 3. Growth hacking reflects the continuous integrationof technology into the art of marketing Growth hacking is a marketing approach that combines technical methods, data-centric and analytical problem solving, and marketing expertise to cultivate customer acquisition and retention in rapidly evolving digital channelsSeptember, 2012 Stephen Goodman / Confidential and Proprietary 3
  • 4. Today’s hacking ethos embraces creativity, continuous problem solving and analytical iteration.September, 2012 Stephen Goodman / Confidential and Proprietary 4
  • 5. Growth Hacking Growth through building, not breaking, marketing.September, 2012 Stephen Goodman / Confidential and Proprietary 5
  • 6. The CMO is under tremendous pressure “Traditional marketing - including advertising, public relations, branding and corporate communications - is dead” “Why CMOs Should Get Used to Less Control” “CMO will Spend More on IT Than the CIO”“79% of CMOs expect high to very highlevel of complexity in their roles” “CMO is under growing pressure to keep pace with rapidly changing digital media and globalisation.”September, 2012 Stephen Goodman / Confidential and Proprietary 6
  • 7. Growth Complicated by Constant Disruption¨  Influencer and Socially-Driven Buyer’s Behavior¨  Escalating Customer Channels¨  New Buyer’s Journey¨  Expectation of Anywhere All-the-time Access¨  Evolution of Marketing Technology is Not Slowing¨  Customers Now Grow BrandSeptember, 2012 Stephen Goodman / Confidential and Proprietary 7
  • 8. And it is only going to get more complicatedSeptember, 2012 Stephen Goodman / Confidential and Proprietary 8
  • 9. Buying Now Occurs on Escalating Numbers ofDigital Channels Gaming Social Apps Payment Mobile Commerce Video¨  Emerging digital platform technologies enable a direct path to the customer.¨  Businesses can now add specialized digital, social, mobile and ecommerce functionality, content or experience to their customer channel.September, 2012 Stephen Goodman / Confidential and Proprietary 9
  • 10. … Very Technical Digital Platforms Gaming Social Apps Payment Mobile Commerce Video APIs Native Apps 3GP HTML5 SSL OpenID Connect Oauth 2.0September, 2012 Stephen Goodman / Confidential and Proprietary 10
  • 11. Marketers must appeal to customers wherever and however they want to interact with your brand. Digital techniques enable this to happen with unprecedented ease.September, 2012 Stephen Goodman / Confidential and Proprietary 11
  • 12. API Case: Billions of Customer Touch PointsSeptember, 2012 Stephen Goodman / Confidential and Proprietary Source: ProgrammableWeb 12
  • 13. Brands Using APIsSeptember, 2012 Stephen Goodman / Confidential and Proprietary 13
  • 14. B2B Brands Using APIsSeptember, 2012 Stephen Goodman / Confidential and Proprietary 14
  • 15. Marketing Teams are Struggling“We get a lot of complaints [from Boeing] about implementing ourAPIs. We don’t have big teams doing trouble shooting or educationon our API offerings…” Boeing’s marketing needs “dedicatedengineering and consulting resources to take advantage of variousAPIs.” – Senior Sales Executive at Google“My background is really communications… it is just not an areathat I’m familiar with.” – Executive in CMO’s office“…they still test by showing the C-boss multiple trade boothsoptions. A/B testing, landing pages, HTML5 video is not part of theirmarketing analysis, no less optimizing customer channels” – SeniorAgency Executive to Global B2B Company September, 2012 Stephen Goodman / Confidential and Proprietary 15
  • 16. Channels are going to be disrupted again…and again“In the past when a customer would interact with a business, the customerhad to go to the business’ context. With mobile devices, we’re seeingcustomers bring their own context with them. So the merchant has to startentering the customer’s space.” - Andy Raskin, MasherySeptember, 2012 Stephen Goodman / Confidential and Proprietary Source: ProgrammableWeb 16
  • 17. Growth hacking tackles the digital complexity§  Data and Analytics§  Test, Iterate, Measure, Repeat§  Programming§  A/B Testing, landing page analysis, social integration§  Security, Open Graph, Mobile User Agent§  Channel & funnel optimization§  Inbound Marketing, CRM and MobileRMSeptember, 2012 Stephen Goodman / Confidential and Proprietary 17
  • 18. Yes, ProgrammingSeptember, 2012 Stephen Goodman / Confidential and Proprietary 18
  • 19. Programming strategy drives companystrategy¨  LuLu publishing, printing and distribution: 1.1 million titles, 200 countries¨  In order to grow global distribution channels, LuLu made their API strategy a business strategy: “The API for LuLu is not an engineering initiative. With LuLu, this is a company-wide initiative. Everybody in the company is focusing on our APIs. We care about our API strategy.” – Ryan Bloom, VP of Product DevelopmentSeptember, 2012 Stephen Goodman / Confidential and Proprietary 19
  • 20. Launch a new B2B service to millions¨  1+ Million small business running online payroll¨  $3.9 Billion in Revenue¨  Twilio API build was “unprecedented time to market.” Built over a weekend, resulted in: Launching an easy-to-use service ensuring “the experience for customers was paramount.” •  Enhanced existing product with “must-have” security •  New customer acquisition and revenue streamsSeptember, 2012 Stephen Goodman / Confidential and Proprietary Source: Twilio 20
  • 21. But it is still Marketing! •  Grow customer acquisition and retention •  Broaden reach into niche or large communities •  Maintain a meaningful online presences •  Contribute to revenue •  Manage emerging digital channel portfolio - mobile, social, video, payment, and othersSeptember, 2012 Stephen Goodman / Confidential and Proprietary 21
  • 22. Stephen GoodmanDirector, Cambridge Office and Partnerstepheng@nexuspartners.com+1.415.684.8513 @ViewfromMadrone Stephen Goodman Confidential and Proprietary September 2012