Startups & Growth - Learn Early. Learn Often.
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Startups & Growth - Learn Early. Learn Often.

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Startups & Growth - Learn Early. Learn Often. Startups & Growth - Learn Early. Learn Often. Presentation Transcript

  • Startups & Growth Learn Early. Learn Often.
  • Most of the startups go through the same phase and face the same set of problems.
  • You create a product which you think is the best solution to a problem already existing in the market.
  • expecting virality and exponential user adoption. You launch the product
  • It’s important for us to remember that every product will not be an Instagram. 99% of time, the traffic falls off after a initial spike.
  • You’re in a stage of your startup called as The Trough of Sorrow Source: @andrewchen
  • Trough of Sorrow because you launch your product hoping You fall into the that the market would accept it and not because the market wanted it.
  • It’s important for a startup to understand the different phases in it’s growth cycle and realize when to launch.
  • 3 Stages of Product Growth Cycle
  • Each stage in the product growth cycle has got certain success end goals. Finding First Set of Customers Validating Your Product Exponential Growth • Problem/Solution Fit • Product/Market Fit • Scale Exponentially
  • Measure.Measure.Measure. Reference: Dave Mcclure’s pirate metrics
  • Identify metrics each stage. that matter during
  • Maximize for speed, learning. Build Learn Measure
  • Iterate. Optimize/ Pivot.
  • Always find your Product/Market fit before scaling. Else You Fail.
  • What Product/Market fit Source : @andrewchen looks like.
  • Traction This is what you should aim for. Pre P/M Fit Post P/M Fit
  • How to scale after P/M Fit?
  • Distribute cheaply to as many people as possible.
  • Use a mix of Paid and Non-Paid Strategies to distribute and acquire.
  • Use the power of Social Media Get your Viral Loops right : (k=invites/user*invite acceptance) k>1
  • Leverage Platforms that work for your product
  • Blog end goal • Establish and identify your target audience. • Churn out world-class content your target audience would be interested in. • Guest-Blog: •Builds natural links •Increases your online authority •Builds Relationship •Opens up your product/ service to a large audience quickly
  • “Solely through guest blogging we've acquired around 100,000 users within the first 9 months of running Buffer.” – Leo Wildrich, Co-founder, Buffer Take a leaf out of Kissmetrics & Moz’s Book. Remember this takes time & effort.
  • Create & Distribute Infographics “KISSmetrics was able to generate 2,512,596 visitors and 41,142 back links from 47 infographics. This strategy helped take the KISSmetrics blog from 56,380 to 146,197 visits per month.” – Neil Patel
  • Search & Connect with Influencers niche. Leverage their reach. in your
  • E-books, Guides and White papers Presentations & Slideshare ( Traffic, SEO)
  • SEO done right.
  • Run Contests & Give-aways
  • Use Paid Channels Keep a check, @LTV = 3*CPA
  • What do I do after acquisition?
  • Build your conversion funnels. Measure.
  • Optimize for conversions in each stage. Get this fixed first. 5000 16% 800 Acqusition Activation 300 Retention 50 Revenue
  • If conversions from visits to sign up is low. Fix that first. A small landing page tweak helped cloudsponge increase conversion by 33%
  • If Activation is low, work on user onboarding. Twitter has a step-by-step onboarding Process. Makes you follow 5 people. Users tend to be more active. 40% of Twitter users use the platform without publishing. 4x number of monthly visitors who don’t login. Just read the stream.
  • If retention is less focus on getting users to come back to the platform. Use both transactional emails and autoresponders to get people back in.
  • LinkedIn was successful in increasing engagement & retention using the double viral loop. Prompting users to connect/ invite during onboarding led to 16% increase in invitations sent & 41% increase in page views. Source: http://www.slideshare.net/joshelman/josh-elman-threegrowthhacksgrowconf81413
  • Not all hypothesis & the resulting experiments result in a better conversion.
  • So A/B Test Version b is better than a. Roll out version b. Source: Smashingmagazine
  • Not just the landing pages and calls to action, but A/B Test product features as well.
  • Iterate on features and use cohort analysis to track engagement/ retention/ revenue/ referral Fig Above : Twitter’s cohort shows how the product improvements resulted in an increase in the percentage of engaged users in the second month.
  • Find your AHA Moment! Turn a visitor to a engaged user. Facebook : 7 friends in 10 days. Twitter : Follow 30 people. Zynga : Day 1 retention. Drop Box : Atleast one file in dropbox folder.
  • Remember the mantra : Learn early, Learn often.
  • Thank You Email me: amarnath.vannarath@gmail.com Follow me: @freaks007