Startup Launch - Key Steps to Success

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Based on the process used to launch several successful startups including two that have gone on to file for NASDAQ IPOs (Uproar in 2000 and LogMeIn in 2008 - pending). Recent companies implementing …

Based on the process used to launch several successful startups including two that have gone on to file for NASDAQ IPOs (Uproar in 2000 and LogMeIn in 2008 - pending). Recent companies implementing the methodology have included Dropbox (runner up for best startup in 2008 at the Crunchies), Xobni and Eventbrite. Ideally it is implemented in a company’s first six months of customer engagement, but it can often be used to boost results at any stage.

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  • Check this course on Idea Generation and Selection at https://www.udemy.com/idea-generation-and-selection-methods
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  • Omg, great article. When I hear anything about metrics and startups, I get geeky! I mean numbers make the world go round and how people focus little on metrics blows my mind. Thanks for the Slide :-) I am going to feature SlideShare for sure on http://99Launch.es.
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  • One thing I always recommend individuals do when launching their startup is to try and identify as many weaknesses as they can in their team, plan and idea and then plug them. To do this, I recommend people check out the SWIR (Startup Weakness Identification and Resolution) Canvas here: http://bit.ly/je9Hiv.
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  • Great presentation! Kindly post a link to a video presentation you've done on this subject.....thanks a bunch!!
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  • 1. Startup Marketing Using Metrics Driven Customer Development to Reach Your Startup’s Full Potential Sean Ellis Principal at 12in6 Startup Launch Accelerator Email: sean@12in6.com Blog: Startup-Marketing.com
  • 2. First six months of customer engagement most critical for reaching your full potential Blog: Startup-Marketing.com
  • 3.
    • Prepare for big launch
    • Work like crazy for awareness
    • Build customer acquisition channels
    • Target 1 million users by Jan 1
    Typical execution first six months Blog: Startup-Marketing.com
  • 4.
    • Missed targets
    • High burn
    • VP Marketing turnover
    • Reduced potential
    Typical Results Blog: Startup-Marketing.com
  • 5. 80% of typical startup launch efforts are a waste of time and money 80/20 Rule Applies Blog: Startup-Marketing.com
  • 6. 12in6 Methodology Concentrate effort & resources into 20% that matters, when it matters Blog: Startup-Marketing.com
  • 7.
    • Reduced burn during discovery and optimization
    • Accelerated customer development (12 months in 6)
    • Improved tactical results between 2X & 10X in 6 months
    12in6 Methodology Results Blog: Startup-Marketing.com
  • 8. 12in6 Methodology: The Sequence 1 ) Survey Driven Discovery 3) Experiment driven Growth 2) Metrics Driven Iteration 12in6 Methodology builds momentum Blog: Startup-Marketing.com
  • 9. 12in6 Methodology: The Metrics
    • Potential Conversion Metrics
      • Visit-to-registration rate
        • (Or visit to download rate)
      • Trial-to-transaction rate
    • Potential Transaction Metrics
      • Average revenue per user
      • Average transaction size
      • Transactions per customer
      • Months per subscriber
    • Potential Acquisition Metrics
      • User acquisition sources
      • Campaign ROI management
      • Allowable acquisition costs
    Focus on actionable metrics that drive decisions to improve results Blog: Startup-Marketing.com
  • 10. Evolving Over Several Startups… … and continues to evolve Blog: Startup-Marketing.com Startup When My Role Description Stage Uproar 1996 - 2001 VP Marketing Worldwide Leader Online Games ’00 -’01 NASDAQ IPO in 2000, Acquired by Vivendi Universal LogMeIn 2003 - 2008 VP Marketing 50M active installs for remote access Filed for NASDAQ IPO in Jan 2008 (pending) Xobni Jan 2008 - Current VP Marketing Interim, Advisor Leader Email Contact Profiles VC (A) – Khosla Ventures, FRC Eventbrite Aug 2008 – Feb 2009 Acceleration program Event Ticketing Platform VC (A) – European Founders’ Fund Dropbox Sep 2008 - Current Launch program Cloud/PC/Mac file/folder Sync VC (A) - Sequoia
  • 11. Survey Driven Discovery Attract the right users who are passionate about your solution Blog: Startup-Marketing.com
  • 12. Survey Driven Discovery Your passionate users hold the keys to unleashing massive customer adoption * The Four Steps to the Epiphany by Steven Blank recommended for early customer development. Blog: Startup-Marketing.com Why do they love it? Need/Problem? Messaging that gets more “must have” users? Which users say: “Must Have”?
  • 13. Metrics Driven Iteration Reduce barriers, streamline experience, maximize average revenue per visitor Blog: Startup-Marketing.com
  • 14. Metrics Driven Iteration X% X% Iterate flow to eliminate barriers that prevent gratification and transactions Blog: Startup-Marketing.com
  • 15. Experiment Driven Growth Discover scalable, profitable customer acquisition channels Blog: Startup-Marketing.com
  • 16. Develop Free Channels First
    • Develop External Free Drivers
      • SEO (self) – Ideal for products/services that disrupt existing categories.
      • Blog - Blog about passion to solve a problem. Link with other blogs in category.
      • Widgets make it easy to embed your content (brand experience) on other sites/platforms
    • Potential User-Get-User Channels
      • Viral replication - if your product has a social element
    Blog: Startup-Marketing.com
  • 17.
    • Paid channel testing sequence
      • PR : Great for “innovators”
      • Demand harvesting channels (easier than demand creation)
        • Create unique onramps for each usage and user type
        • SEM, directories
      • Demand creation last (challenging and expensive)
        • Get ideas by monitoring competitors and overall trends
        • Widgets, webcasts, sponsorships, banners, radio, trade shows
    Then Test Paid Channels
    • Test lowest hanging fruit first
      • Begin by testing user acquisition channels most likely to have easy, positive ROI
    Blog: Startup-Marketing.com
  • 18. Budget For Profitable Growth
      • World Domination Budget Strategy
        • Budget max spend for allowable acquisition of a new user that returns investment more slowly.
      • Low Burn Budget Strategy
        • Budget max spend for allowable acquisition cost of a new user that gives fast payback.
    With the 12in6 Methodology you should always invest for a positive ROI – but payback period changes by strategy. Blog: Startup-Marketing.com
  • 19. Need More Help?
    • 12in6’s mission is to help as many startups as possible reach their full potential through a metrics driven go to market approach.
    • Help ranges from free guidance (this presentation and the startup-marketing.com blog) to a hands on go to market program for qualifying startups.
    What is 12in6? 12in6 uses a metrics driven approach to help startups gain customer traction and build long-term momentum. The name represents the objective of achieving twelve months of customer development progress in only six months of execution. Sean Ellis Email: sean@12in6.com Blog: Startup-Marketing.com Learn More About 12in6