F&F Marketing Lesson of the Day: Lean Startup Marketing

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A marketing lesson on how digital businesses use innovative techniques to drive traffic to their websites and grow their audiences.

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F&F Marketing Lesson of the Day: Lean Startup Marketing

  1. 1. Lean Marketing for Broke Startups By: Marcus Lee, Project Director, @MarcusJulienLee
  2. 2. The Lean Startup by Eric Ries   A book written in 2011 by this guy  Replace traditional marketing with experimentation   ―Validated Learning‖      Definitely had online businesses in mind Try an idea Measure It Repeat what works Try something else Your Product = Your Marketing
  3. 3. Job Opening: Growth Hacker (WTF?)  Growth Hacking—How do I get more users?  Aaron Ginn defines a growth hacker as:   I define growth hacking this way:   ―One who’s passion is pushing the metric through use of testable and scalable methodology‖ A marketing mindset that involves taking creative risks and testing them in order to accelerate product Even though I think it’s more of a mindset then a position, some startups are actually hiring ―Growth Hackers‖
  4. 4. The Lean Marketing Funnel Goal is to build a self-perpetuating marketing machine where the cost of growing your customer base is $0.00
  5. 5. Case Studies: Dropbox User Onboarding • • • 200 milllion users Worth $4 Billion Spent almost no money on advertising • • They tried. Would be $400 per new customer on Adwords Invested in their user onboarding to make visitors into customers 1. Signup Driven homepage (above) 1. Easy signup process 2. Making it social 1. Sharing with simplicity 2. Product referrals with incentives 3. Social Media – more sharing, more data space
  6. 6. Case Studies: Upworthy Content Strategy  Upworthy is making social good videos go viral.   Attracting readers not pageviews   Test different content in different locations Pop-ups that ask for social follows   Around 10M unique views per month in the first year 419% more FB likes Make 25 headlines for every single story  Can be the difference between 8,000 views and 474,000.
  7. 7. Case Studies: Tinder   One of my favorite grow hacks of all time – Tinder Founders were at USC    Held exclusive frat parties where people had to download the app to get in. Built a local following 1,000 users on a campus>>>1,000 users around the country
  8. 8. Key Takeaway #1  The key to a successful business is not the size of your marketing budget!     Testing creative ideas Agility – Adjust and Adapt Measuring Actual Progress Knowing your customers
  9. 9. Key Takeaway #2  Be innovative in your marketing approach. Don’t be afraid to take risks!   Don’t copy any of the techniques! They probably won’t work for you! However, these cases contain lessons about consumers.   Starting point for your marketing adventures. Reid Hoffman – Founder of LinkedIn ―Building a startup is like jumping off a cliff and building an airplane on the way down.‖

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