Startup Customer Development (Seedcamp, London)

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    Notes on slide 1

    Startup success today becoming less mysterious

    40% to 100% proceed up pyramid

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    Startup Customer Development (Seedcamp, London) - Presentation Transcript

    1. Startup Customer Development
      Sean Ellis
      Seedcamp 2009 (London)
      Sept 22, 2009
    2. #1 Startup Risk = Customers
      Huge challenge to acquire & convert
      Little useful guidance available
      Hard to know where to start (hundreds of things you “could do”)
      2
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    3. What Really Mattered on Road to IPOs?
      Understand users and use cases
      Focus on right metrics & optimize
      Apply engineering to marketing
      Early execution is most critical
      3
      startup-marketing.com
    4. Primary Focus Now Critical Zone
      Critical
      Zone
      IPOs
      Growth Stage
      Then light advising in growth stage
      4
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    5. Customer Development Framework
      5
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    6. Growth Starts with the Product
      6
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    7. What is Product/Market Fit?
      People want/need your product
      And they represent large enough market
      Differentiated from alternatives
      Users will pay for your product
      Or you are advertising supported
      7
      startup-marketing.com
    8. “Life of any startup can be divided into two parts -before P/M fit and after P/M fit”
      Marc Andreessen
      Founder Netscape, Opsware, Ning
      8
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    9. PayPal’s Quest for P/M Fit
      $200K seed funding - cryptography
      “No one really needed it” Max Levchin
      $4.5M VC funding - PDA payments
      People preferred web demo (100X users)
      $1.5B sale to eBay – web payments
      9
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    10. Survey Your Product/Market Fit
      Free template at Survey.io
      10
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    11. Key Product/Market Fit Question
      “How would you feel if you could no longer use Product?”
      11
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    12. Transition to Growth
      12
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    13. Transition to Growth
      Track/report right metrics
      Positioning (based on perceived value)
      Viable economics (business model)
      13
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    14. Optimize Before Growing
      Landing pages
      Funnel (acquisition through transaction)
      12%
      13%
      8%

      14
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    15. Scalable Growth Now Possible
      15
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    16. Test from Free to Paid Channels
      16
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    17. Driving/Managing Growth
      Budget to maximize positive ROI spend
      17
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    18. Improve Lifetime Value
      Customer retention is critical
      Cross/up sell additional products
      This expands profitable channels
      18
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    19. Complete Startup Pyramid
      Growth
      Optimize
      Economics
      Positioning
      Product/Market Fit
      Twitter: @seanellis
      Blog: startup-marketing.com

    + Sean EllisSean Ellis, 2 months ago

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