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Growth. Marketing. Distribution. MASTERCLASS by 500 Startups

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What's better than raising a million bucks? A million users / customers! Even better, BOTH! Sadly many startups in this region struggle to get their first thousand customers.

The video of the workshop can be found at http://goo.gl/84mP10

Key Takeways :
- Learn the latest in customer acquisition tactics and technology, brought to you by 500 Startups growth mentor, Juan Martitegui
- See how local and regional companies like iMoney, CatchThatBus, TheLuxeNomad and Orori transform their marketing efforts using what they learned from Juan
- Let local serial entrepreneur turned venture capitalist Khailee Ng share his observations on what limiting belief systems prevent local founders from growing fast!

Speaker Profile :

Juan Martitegui was flown in from Argentina after building a reputation for himself. As an entrepreneur, he built 3 Million leads and $20M in revenue with no venture capital funding. As a mentor he is one of the most highly rated out of 300 mentors globally in the 500 Startups network, known for helping companies transform how they grow.

Website : www.mymagic.my
Facebook : https://www.facebook.com/magic.cyberjaya
Twitter : https://twitter.com/magiccyberjaya
Youtube :
SlideShare : http://slidesha.re/1BfSncP
Email : enquiries@mymagic.my

Growth. Marketing. Distribution. MASTERCLASS by 500 Startups

  1. 1. #500STRONG CEREBRO PROGRAM FULL CONTACT DISTRIBUTION FOR FAST GROWTH & SOME OTHER TRICKS
  2. 2. IDEA #1/12 WE ARE ALL IN THE SAME BUSINESS
  3. 3. WE ARE ALL IN THE SAME BUSINESS
  4. 4. SO… I F T H I S I S T R U E + <
  5. 5. YOU’VE GOT A PROFITABLE BUSINESS
  6. 6. IF NOT… GAME OVER
  7. 7. IDEA #2/12 HOPEFULLY YOU BUILD A UNICORN
  8. 8. BUT UNICORNS ($1B COMPANIES) ARE UNLIKELY AND NORMALLY THEY FIRST LOOK LIKE HORSES • I know you have dreams an all, but it’s statistically improbable that your idea it’s a billion dollar idea and that you’ll be able to build a billion dollar company • It’s also not that probable that your product is as amazing as Dropbox and Evernote • Hey even if it’s awesome (think AirBnB) they still need traction and traffic.
  9. 9. IDEA #3/12 DISTRIBUTION WON’T MAKE YOUR PRODUCT SUCK LESS
  10. 10. BUT WILL HELP GET DATA T O F I X I T • Normal Cycle: You launch, press coverage, some friends, users… they don’t stick to your product! • You deploy some fixes (most of the times based on intuition) • But you are out of friends and press! • So you’ll need fresh blood. Here’s where this presentation will help you.
  11. 11. IDEA #4/12 MASTER INSTANT PAID TRAFFIC
  12. 12. I T W I L L S AVE YOU TIME AND MAKE YOUR LEARN FASTER • First: No such thing as free traffic. You pay with sweat and time, or with money. • SEO works and it’s beautiful but by the time it works your accel period is over or you are out of money. • You can turn paid traffic on and off as you wish. Make some tweaks, turn it on, measure, turn it off. Rinse and repeat. • I’m aware paid traffic doesn’t work for every business model (for dropbox in the early days did not work), but it does work to prove concepts, designs, if you don’t have enough organic/viral traffic yet.
  13. 13. IDEA #5/12 MOST NEW STARTUP FUNNELS ARE TOO “LAZY”
  14. 14. MOST STARTUPS FUNNELS LOOK LIKE THIS main keyword www.
  15. 15. THIS CAUSES SEVERAL PROBLEMS • If you are in a competitive market like “CRM” you’ll be scared paying $50 USD per Click and you’ll quit. Plus your competitors have a lot more thought out funnel. • Even if you make it work, it’s hard too scale. What would you do to get more people searching for your main keyword? Yeah exactly! Hard to do something about it. • Then you raise money and you promise your investors that your CAC (Customer Acquisition Cost) is $X. When in reality is $X only for very targeted limited traffic. • If your competitor CAN and IS WILLING TO spend more money than you because he insists more with a funnel that “tries harder” and has better conversions, he’ll end up with most of the impressions in the market.
  16. 16. IDEA #6/12 CHANNELS AND APPROACHES
  17. 17. Channels: Places to Advertise on Approaches: Your Strategy to Get Seen main keyword your brand (or product name, etc.) competitor (or product name, etc.) lateral thinking Google Display Network gMail
  18. 18. MIXING OUR CHANNELS AND APPROACHES WE GO FROM THIS main keyword www.
  19. 19. people who signed up and not activated www. Google Display Network gMail main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking obvious interests your brand competitor lateral thinking remarketing Google Display Network remarketing people who visited and did not signup people who visited cart page and abandoned people who activated and haven’t purchased people who bought, sell them some more people who visited and did not signup people who signed up and not activated people who visited cart page and abandoned people who activated and haven’t purchased repeat what works on: people who bought, sell them some more
  20. 20. IDEA #7/12 25+ CAMPAIGNS THAT EVERY STARTUP SHOULD RUN
  21. 21. CAMPAIGN TYPE #1 GOOGLE SEARCH - MAIN KEYWORDS
  22. 22. CAMPAIGN TYPE #1 - HOUSTON, WE HAVE A PROBLEM! GOOGLE SEARCH - MAIN KEYWORDS
  23. 23. CAMPAIGN TYPE #2 GOOGLE SEARCH - YOUR BRAND
  24. 24. CAMPAIGN TYPE #3 GOOGLE SEARCH - YOUR COMPETITORS
  25. 25. CAMPAIGN TYPE #4 GOOGLE SEARCH - LATERAL THINKING
  26. 26. CAMPAIGN TYPE #4 MORE EXAMPLES OF LATERAL THINKING • Weight Loss Infoproduct • Women Buying Diapers • Wedding Dresses • Wedding Catering • Wedding Gifts • How to Breast Feed
  27. 27. HOW FAR CAN YOU GO LATERAL? UNTIL GROSS MARGIN AND CONVERSIONS ALLOW!
  28. 28. CAMPA I G N T Y P E # 5 , 6 , 7 , 8 GOOGLE DISPLAY NETWORK • When people read blog/articles/webpages about your topic, about your main keywords • When people read blog/articles/webpages about your brand or products. • When people read about your competitors blog/articles/webpages (ie. software “a” vs. software “b”) brand or products • When people read blog/articles/webpages that can be interesting for your target market
  29. 29. WHO KNOWS… WHICH SITE IS THE SECOND SEARCH ENGINE IN THE WORLD?
  30. 30. CAMPA I G N T Y P E # 9 , 1 0 , 1 1 , 1 2 YOUTUBE ADS • When people watch videos about your topic, about your main keywords • When people watch videos about your brand or products. • When people watch videos about your competitors (ie. software “a” vs. software “b”) brand or products or how to. • When people watch videos that can be interesting for your target market
  31. 31. CAMPAIGN TYPE #13, 14, 15, 16 GMAIL ADS
  32. 32. CAMPAIGN TYPE #17, 18, 19, 20 REMARKETING VIA GDN • Target People that Visited but did not Signup • Target People that Signed up but did not Activate —> “Hey…Finish what you started!” • Target People that Activated but did not Purchase —> “You are missing this features!” • Target People that Went to your Checkout Page —> “Here’s a coupon?”
  33. 33. CAMPAIGN TYPE #21, 22, 23, 24 REMARKETING VIA FACEBOOK • Target People that Visited but did not Signup • Target People that Signed up but did not Activate —> “Hey…Finish what you started!” • Target People that Activated but did not Purchase —> “You are missing this features!” • Target People that Went to your Checkout Page —> “Here’s a coupon?”
  34. 34. CAMPAIGN TYPE #25+ FACEBOOK CAMPAIGNS • People who are interested in topics that make sense to you • People who are part of groups that tell you they might need your product/service • People who have jobs/positions/live, etc. that make you think they might need your services • People that are fans of some of your competitors or complementary products • People that read books, watch movies, etc. • Create Similar Audiences of your Leads, Customers and Audiences that Work Well
  35. 35. CAMPAIGN TYPE # ¿STILL COUNTING? YAHOO/BING (CLONE WHAT WORKED) Yeah Some People Still Use Them and Traffic is Cheap and Might Convert Better!
  36. 36. SOME RESULTS IS IT WORTH THE TROUBLE? 83% from the Traffic comes from Display ….y 87% of the Conversions!
  37. 37. IT’S NOT ONLY WORTH IT IT’S NEEDED!
  38. 38. OPPPS! WE HAVE A PROBLEM: CHANNEL FATIGUE
  39. 39. IDEA #8/12 THE EGO-FUNNEL LENGTH CORRELATION
  40. 40. NORMALLY, NO ONE GETS MARRIED IN THE FIRST DATE • Except in Vegas ;)
  41. 41. HOW DO I KNOW? TOOK ME MONTHS OF BEING IN HER INBOX!
  42. 42. SO… LET’S TURN THIS:
  43. 43. people who signed up and not activated www. Google Display Network gMail main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking obvious interests your brand competitor lateral thinking remarketing Google Display Network remarketing people who visited and did not signup people who visited cart page and abandoned people who activated and haven’t purchased people who bought, sell them some more people who visited and did not signup people who signed up and not activated people who visited cart page and abandoned people who activated and haven’t purchased repeat what works on: people who bought, sell them some more
  44. 44. INTO SOMETHING… MORE PRO LIKE THIS ONE:
  45. 45. people who signed up and not activated viral loops phone www. Google Display Network gMail main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking obvious interests your brand competitor lateral thinking remarketing Google Display Network remarketing people who visited and did not signup people who visited cart page and abandoned people who activated and haven’t purchased people who bought, sell them some more webinars people who visited and did not signup people who signed up and not activated people who visited cart page and abandoned people who activated and haven’t purchased repeat what works on: people who bought, sell them some more Social Media: ebooks infographics drip sequences triggered email email broadcasts triggered email free trial > phone
  46. 46. INSIGHT: THE SHORTER YOUR FUNNEL, THE BIGGER YOUR EGO.
  47. 47. WHY YOU NEED IT? BECAUSE MEDIA BUYING IS A BIDDING PROCESS, THE ONE THAT CAN EXTRACT MORE VALUE FROM THE CLICK (BECAUSE IT HAS MORE “OPPORTUNITIES” TO SELL IN IT’S FUNNEL) CAN PAY THE MOST AND GET THE MOST TRAFFIC.
  48. 48. IDEA #9/12 COPY (AND MESSAGE2MARKET MATCH) MATTERS… A LOT
  49. 49. INCREDIBLE CLICK-THROUGH-RATES WHEN YOU SPEAK TO YOUR PERFECT CUSTOMER
  50. 50. IDEA #10/12 NOW TEST… A LOT.
  51. 51. WHAT AND HOW TO TEST DO YOU LIKE FREE MONEY? • Start with the Point with More Traffic & Higher Dropoff • PPIE = Potential. Proven. Importance. Ease. • Make sure you have enough traffic before starting. • If not… Don’t be afraid of Sequential Testing when you are starting. • Get Ideas from Proven Funnels and Experts (ie. I love: http://useronboard.com/) • Test the Copy and the “Parts of the Funnel” • Get Ideas from your Data
  52. 52. IDEA #11/12 YOU CAN’T SPEND A %
  53. 53. OPTIMIZE FOR GROSS MARGIN • People Take Pride on Their Conversion Rates. • Now you’ll start driving more “broad” traffic and of course, conversion rates will go down! Because it’s people less interested. • Very High Conversion Rates means you are not Spending Enough on Traffic. • What do you prefer: 10% ROI on $1M on Spend or 100% on $1 in Spent
  54. 54. IDEA #12/12 MAKE SURE YOU ARE TRACKING (EXAMPLES OF WHAT COULD HAVE GONE WRONG WITHOUT TRACKING)
  55. 55. BE A SHERLOCK HOLMES OF METRICS AND ASK QUESTIONS
  56. 56. WOULD YOU LIKE TO KNOW WHICH EMAILS PERFORM BEST?
  57. 57. NOT TRAFFIC IS CREATED EQUAL WHICH COUNTRIES MAKE YOU MORE MONEY?
  58. 58. NOT TRAFFIC IS CREATED EQUAL ( 2 ) ARE YOU SURE ALL CITIES ARE WORTH THE SAME?
  59. 59. LET YOUR INTERNAL DATA ALSO SPEAK TO YOU AND NO, ANALYTICS IS NOT A PERFECT SCIENCE
  60. 60. DON’T HIDE FROM YOUR CUSTOMERS WANNA CHAT?
  61. 61. UNDERSTAND THE DATA TO HELP YOU BUILD HYPOTHESIS’ AND TEST WHAT MATTERS DO YOU KNOW WHAT HAPPENS ON YOUR MONEY PAGES?
  62. 62. BE CAREFUL WITH THE “DIRECT” CURSE
  63. 63. TO FINISH… LET’S COMPARE AGAIN
  64. 64. V1: THE “LAZY” STARTUP FUNNEL main keyword www.
  65. 65. people who signed up and not activated viral loops phone www. Google Display Network gMail main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking main keyword your brand competitor lateral thinking obvious interests your brand competitor lateral thinking remarketing Google Display Network remarketing people who visited and did not signup people who visited cart page and abandoned people who activated and haven’t purchased people who bought, sell them some more webinars people who visited and did not signup people who signed up and not activated people who visited cart page and abandoned people who activated and haven’t purchased repeat what works on: people who bought, sell them some more Social Media: ebooks infographics drip sequences triggered email email broadcasts triggered email free trial > phone V2: THE PRO STARTUP
  66. 66. NOW LET’S SEE IF ALL OF THIS IS REAL… LET’S HEAR SOME STORIES
  67. 67. HOW TO BEAT KASPAROV AT CHESS AND OTHER TRICKS
  68. 68. EVERYTIME HE MAKES A MOVE, MAKE TWO.
  69. 69. BUILD A GROWTH TEAM (AND LET THEM TO THEIR JOB) • If you don’t have a Growth Team, at least have Growth Days! • If you are at Growth Stage, guess who has priority on resources? • Keep those guys in check, growth is important but don’t sacrifice long term success for short term gains.
  70. 70. YOU’LL STILL NEED TO WORK YOUR ASS OFF TRY A LOT, I T M ATTERS
  71. 71. SOMETIMES IS JUST A MATH PROBLEM
  72. 72. Source: http://tomtunguz.com/
  73. 73. SOLUTIONS TO THE MATH PROBLEM: • 1) Track Better (give more time, assign direct) • 2) Increase Conversions • 3) Grow a Pair of Balls • 4) Go and Raise More Money (if you need)
  74. 74. YOU ARE A PIECE OF KNOWLEDGE AWAY FROM TREMENDOUS GROWTH STUDY & COPY
  75. 75. WHERE TO LEARN AND FIND IDEAS TO COPY RESOURCES • Look at Successfull Companies… They Test a Lot. • Good Site: http://www.useronboard.com/ • Find out how/where they Advertise: http://www.adbeat.com/ | https:// www.whatrunswhere.com | http://semrush.com/ • Browse, Research, Be a Customer • This is my Feedly (RSS Reader) File… You can read what I read ;) Go to: http://bit.ly/juansfeedly
  76. 76. SOME TOOLS RESOURCES • Campaign Building: • For Adwords: Google Adwords Editor, AdStage.io • For Facebook: Adespresso, Qwaya, AdStage.io • Email Drips/Trigger: Intercom.io, Customer.io, Ontraport • Email Broadcasts: Sendgrid, Mailchimp, Ontraport • Customer Support: Helpscout, Zendesk, desk.com • CRMs: Ontraport, Pipedrive, Pipelinedeals, ZohoCRM, Salesforce • Rapid Landing Page Building: • LeadPages • Unbounce • MegaphoneApp • Tracking: Google Analytics, KissMetrics, Mixpanel • Phone Support: Talkdesk, IfByPhone • Project Management Softare: • Asana (I use this one) • Basecamp • Trello
  77. 77. “Now they call it Growth Hacking. For years I called it doing my job.” @JUANMARTITEGUI

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