Growth Hacking Intro and Marketing Fundamentals from GrowthRocks Session 01

GrowthRocks Session 01 - 20150330 (NL)
Growth Hacking Intro
Nestor Louizidis, CEO @GrowthRocks

Why start or join a startup?
1. Find meaning in life?
2. Find friends and social activity?
3. For the money?
4. Something to do?
5. Change the world?
6. Why not?
7. Help others?
8. All of the above? 2
Or any other business for that matter?

Prerequisites
You will always need at least 3 things:
1. Time. There are 24 hours in each day. Period.
2. Money. There is no free lunch. Someone always
pays for you, most of the time it will be you.
3. People. There is only one of you. How much can
you do each day?
3

Startup Ingredients - Part 1
● Idea → market, proof, love
● Team → attitude, history, matching skills, contribution,
roles
● Commitment → drive, duration, focus, stamina, lifestyle
● Organization → setup, planning, measurement,
execution
4

Startup Ingredients - Part 2
When do you start Product Dev and how much
time are u going to spend on it: ???%
When do you start Marketing activities and
how much time are u going to send on them:
???%
5
Why would you split it like

What is Marketing?
6
Marketing is communicating the
value of a product, service or brand
to customers, for the purpose of
promoting or selling that product,
service, or brand.

Inbound vs Outbound
Inbound marketing is promoting a company
through blogs, podcasts, video, eBooks,
enewsletters, whitepapers, SEO, social
media marketing, and other forms of
content marketing which serve to attract
customers.[1][2][3] In contrast, buying
attention,[1] cold-calling, direct paper mail,
radio, TV advertisements,[2] sales flyers,
spam, telemarketing[3] and traditional
advertising[4] are considered "outbound
marketing". Inbound marketing refers to
marketing activities that bring visitors in,
rather than marketers having to go out to
get prospects' attention.
7

What is a marketing plan?
Product specific, market specific, or company-wide plan that describes
activities involved in achieving specific marketing objectives within a set
timeframe. A market plan begins with the identification (through market
research) of specific customer needs and how the firm intends to fulfill
them while generating an acceptable level of return. It generally includes
analysis of the current market situation (opportunities, trends and
threats) and detailed action programs, budgets, sales forecasts,
strategies, and projected financial statements.
Read more: http://www.businessdictionary.com/definition/marketing-plan
8

What is Growth Hacking?
“...activities involved in achieving specific marketing
objectives within a set timeframe…”
Growth Hacking is an expression of value: getting as
much as possible measurable return from marketing
actions while minimizing the marketing spending.
By this definition, ‘best value’ is achieved by
embedding the marketing in the product itself. We call
this design a viral loop. Why?
9

Back to the split: why
50/50?
● Most startups have a product
● Most startups don’t have customers
● Immediate market feedback
● Provable traction
● Experimentation and learning
● No time lag after launch for first sales
● MVP confirmation
10

The Funnel
What is ‘The
Funnel?’
What is the shape of
the perfect funnel?
http://growthrocks.com/blog/growth-action-plan-and-funnel/
11

The Funnel
You should operate by
designing your
marketing actions and
processes in such a
way as to enlarge each
subset as close as
possible to its parent
superset.
12

Traction Channels: Part 1
There are 19 traction channels defined in Gabriel Weinberg
and Justin Mares 2014 book:
Traction: a Startup Guide to Getting Customers
Viral marketing (I), Public Relations (O), Unconventional PR (O), Search
Engine Marketing (O), Social and display Ads (O), Offline Ads (O), Search
Engine Optimization (I), Content Marketing (I), eMail Marketing (IO),
Engineering as Marketing (I), Targeting Blogs (I), Business Development (O),
Sales (O), Affiliate Programs (IO), Existing Platforms (IO), Trade Shows (O),
Offline Events (O), Speaking Engagements (IO), Community Building (I)
13

Traction Channels: Part 2
1. Brainstorm
2. Rank
3. Prioritize
4. Test
5. Focus
14

Traction Experiments: Looking for
gold
Early success depends on
finding growth in one traction
channel.
Once found it should be
exploited to its fullest extend.
15

Pre-launch campaign?
What is a pre-launch campaign?
Should startups do it and what are the
risks?
Always be measuring! Always be testing!
16

What is a Growth Plan?
1. Main Target
2. Duration of Growth Project
3. Main Milestones (if any)
4. Determine Traction channels
5. Define the experiment(s) & how to measure
6. Implement
7. Measure
17

Workshop (15’)
1. Each member of your group should write what
he/she believes your startup should have as a goal
or target for the next 30 days
2. Write down why you chose this target as compared
to other targets that crossed your mind
3. Discuss with other group members and
finalize/justify one goal/target per team
18

Present your goal
● Each team presents their goal and
their rationale
● Each team accepts questions on
their methodology
19

Goal/Target Test
Is your goal a growth goal?
Is it clearly defined? i.e. Get 2000 visitors per month
Can it be measured accurately?
Does it consist of micro-goals?
Can it be translated to actions easily or it takes a lot of
explaining?
20

Homework Part 1
Create a growth plan to achieve this target/goal
● Research & propose traction channel(s)
● Research your goal/target (have others done it
and how)
● Do Research on how to measure the results of
your actions against your goal
21

Homework Part 2
Submit:
1. One page with your prioritized traction channels
2. One page with a detailed description of your goal
and your justification. Why this particular goal?
3. One page with a list of the actions in your growth
plan and how you plan to measure the results
22

What is Marketing?
23
A Professor was explaining marketing concepts to the Students:-
1. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" - That's Direct Marketing
2. You're at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: "He's
very rich. Marry him." - That's Advertising
3. You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: "Hi, I'm very rich.
Marry me." - That's Telemarketing
4. You're at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door
(of the car)for her, pick up her bag after she drops it, offer her ride and then say:"By the way, I'm rich. Will you marry me?" - That's Public
Relations
5. You're at a party and see gorgeous girl. She walks up to you and says: "You are very rich! Can you marry ! me?" - That's Brand
Recognition
6. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. -
That's Customer Feedback
7. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" And she introduces you to her husband. -
That's demand and supply gap
8. You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: "I'm rich. Will you
marry me?" and she goes with him - That's competition eating into your market share
9. You see a gorgeous girl at a party. You go up to her and before you say: "I'm rich, Marry me!" your wife arrives. - That's restriction for
entering new markets.

Growth Hacking Intro and Marketing Fundamentals from GrowthRocks Session 01

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