Startup Customer Development (Seedcamp, London)

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This is the first major update to my slides on Slideshare in almost a year. My thinking has evolved significantly after helping take an additional 8 startups to market.

This is the first major update to my slides on Slideshare in almost a year. My thinking has evolved significantly after helping take an additional 8 startups to market.

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  • Startup success today becoming less mysterious
  • 40% to 100% proceed up pyramid

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
    startup-marketing.com
  • 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
    startup-marketing.com
  • 5. Customer Development Framework
    5
    startup-marketing.com
  • 6. Growth Starts with the Product
    6
    startup-marketing.com
  • 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
    startup-marketing.com
  • 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
    startup-marketing.com
  • 10. Survey Your Product/Market Fit
    Free template at Survey.io
    10
    startup-marketing.com
  • 11. Key Product/Market Fit Question
    “How would you feel if you could no longer use Product?”
    11
    startup-marketing.com
  • 12. Transition to Growth
    12
    startup-marketing.com
  • 13. Transition to Growth
    Track/report right metrics
    Positioning (based on perceived value)
    Viable economics (business model)
    13
    startup-marketing.com
  • 14. Optimize Before Growing
    Landing pages
    Funnel (acquisition through transaction)
    12%
    13%
    8%

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