Finding Startup Traction

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This presentation covers how startups can gain traction and find sustainable growth by navigating through Sean Ellis's Startup Pyramid framework. With a focus on product/market fit, product instrumentation, and early-stage acquisition channels, the goal is to give entrepreneurs a framework to manage against with their early stage growth efforts.

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Finding Startup Traction

  1. 1. Unlocking Growth Building a sustainable growth engine with the new rules of marketing.
  2. 2. “Most startups don’t fail at building a product. They fail at acquiring customers.” – Gabriel Weinberg
  3. 3. Startup Growth Pyramid Growth Stacking the Odds Product/Market Fit Source: Sean Ellis
  4. 4. Growth Stacking the Odds Product/Market Fit Source: Sean Ellis
  5. 5. Get to Product Market Fit First
  6. 6. What is Product/ Market Fit? A large group wants/needs your product – it’s a ‘must have’.
  7. 7. “Focus obsessively on getting to product/ market fit.” – Mark Andreessen
  8. 8. Do you have PMF? Ask “How would you feel if you could no longer use the product?”
  9. 9. Source: Sean Ellis
  10. 10. “Very Disappointed” 0 – 25% 26 – 39% 40 – 100% Keep burn low, engage, iterate Try repositioning, retargeting Proceed up pyramid
  11. 11. After PMF, transition to growth
  12. 12. Growth Stacking the Odds Product/Market Fit Source: Sean Ellis
  13. 13. Race to scale Instrument your product Activate users Increase exposure—the race to scale
  14. 14. Instrument your product Source data (referral source in user record) Event & cohorts Conversion rates Engagement/retention Lifetime value
  15. 15. Dave McClure’s Pirate Metrics Acquisition Activation Retention Revenue Referral
  16. 16. Find your metric that matters “x people did x searches in past week” “y people visited my site x times last month” “z users send n messages via my app each day” Source: Josh Elman
  17. 17. Build a Value Delivery Engine
  18. 18. Build a must-have product Understand must-have experience (MHX) Calibrate hook & promise messaging Optimize flows to deliver MHX Must-Have experience Hook/ Promise Source: Sean Ellis
  19. 19. Steps for value delivery engine Understand MHX Macro   Optimization Segment/ Personalize
  20. 20. Optimize Value Delivery Engine
  21. 21. Successful optimization process Funnel Analytics Insights Test Variations
  22. 22. Max % that reach MH experience Build desire, reduce friction Must-Have experience Hook/ Promise Goals
  23. 23. Desire – Friction = Conversion Rate Source: Sean Ellis
  24. 24. PIE test prioritization Potential Importance Ease Source: Wider Funnel
  25. 25. A/B test combos Messaging Flows Hooks based on intent/pain Promise based on MHX Clear description of solution Flows that reduce friction Flows that frontload MHX
  26. 26. Language market fit What is this thing you’ve built to your users? Store your photos Share your photos Find a date Help people find a date
  27. 27. Developing promise statements Focus on a single benefit for each Limit to about 10 words Write wildly different statements
  28. 28. Segment/personalize last Default to macro first, then segment At a minimum manage active vs. inactive Develop programs to manage full lifecycle
  29. 29. Growth Stacking the Odds Product/Market Fit Driving Growth is Last Step Source: Sean Ellis
  30. 30. Four Types of Growth 0 20000 40000 60000 80000 100000 120000 140000 160000 180000 1 2 3 4 5 6 7 8 9 10 11 12 13 Topline Activated Retained Monetized Source: James Currier
  31. 31. “Growth is about taking your product and optimizing it to create compound interest. There are very few (if any) silver bullets when it comes to growth.” – Andy Johns
  32. 32. Why Growth Hacking? $0 $20 $40 $60 $80 $100 $120 $140 $160 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 US Online Ad Spend per User
  33. 33. “Growth hacking: A cool-sounding euphemism for making the doer feel good about using the same old sleazy marketing tricks.” – David Heinemeier Hansen
  34. 34. “Growth hacking is a recognition that when you focus on understanding your users and how they discover and adopt your products, you can build features that help you acquire and retain more users, rather than just spending marketing dollars.” – Josh Elman
  35. 35. Don’t delegate growth to a ‘hacker’ Original vision on customer need Don’t abdicate fate to a marketer Growth as an organizational priority
  36. 36. Growth = fx (Probability of Success, Impact, Resources Required) Source: Brian Balfour
  37. 37. Right marketing mix for you? What are you optimizing for? (Learning, volume, cost) What are your constraints? (Time, money, audience, legal) Source: Brian Balfour
  38. 38. New User Channels Email Facebook Twitter Pinterest Craigslist Google+ iOS Android Blog widget Google SEO Tumblr Twitter WOM Press Appstore Featured TV Apps Mobile ads Web ads Online video TV ads Radio ads SEM Affiliates Viral Paid WOM Source: James Currier
  39. 39. Categories of growth hacks Platform integrations Powered by Instrumented virality Data-driven hacks Igniting word of mouth
  40. 40. 0 20 40 60 80 100 120 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Viral Channel Effectiveness WOM Email MySpace Facebook Craigslist Twitter iOS Android James Currier
  41. 41. Growth Stacking the Odds Product/Market Fit Build Growth on a Solid Foundation Source: Sean Ellis
  42. 42. Growth EnginesCase Studies of How Today's Most Successful Startups Unlock Extraordinary Growth DOWNLOAD ON AMAZON.COM

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