[Webinar] The growth playbook from $0 to $1 billion - with Mike Volpe
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Mike Volpe, former CMO and founding team member at HubSpot shares what he learned growing the company from zero to over 15,000 customers and a $1 billion valuation.
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[Webinar] The growth playbook from $0 to $1 billion - with Mike Volpe
- 1. Mike Volpe Former CMO at HubSpot @mvolpe The growth playbook from $0 to $1 billion #UTwebinar @UserTesting
- 2. I joined HubSpot in 2007 as the fifth employee and grew the marketing team to 90 people. I love chocolate, lead generation, whiskey, Excel, red wine, marketing metrics and Jay Z. I have advised and invested in more than a 20 different startups and hired over 100 marketers. I’m Mike Volpe, or @mvolpe on Twitter. Hi.
- 3. AGENDA 1. Category Creator vs Better Mousetrap 2. Align Sales & Marketing with Business Strategy 3. Create Competitive Advantage in Everything You Do 4. Evolve Faster with Shorter Cycles 5. Hire Exceptional Marketers 6. Manage Well with Org Structure & Process in Marketing
- 4. 1 Category Creator vs Better Mousetrap
- 5. Which Business are You? Better Mousetrap Big Market w/$$$ Start in last place Hard to compete with established players “Why would I switch?” Category Creator New Market w/$0 You are #1! (out of 1) Hard to create a new market “Why do I need this?”
- 6. 2 Align Sales & Marketing with Business Strategy
- 7. Align Sales & Marketing with Business Strategy http://www.forentrepreneurs.com/startup-killer/
- 8. Align Sales & Marketing with Business Strategy Viral / Free Product, No Sales Reps Content, SEO, Social with Inside Sales SDR Cold Call Sourcing, Inside Sales Outside Enterprise Sales Low LTV Medium LTV High LTV
- 9. Align Sales & Marketing with Business Strategy Content, SEO, Social with Inside Sales 80-90% of leads were unpaid (inbound) 90% of new customers from those leads 40% channel / agency Low / Medium LTV ($800/mo)
- 10. 3 Create Competitive Advantage in Everything You Do
- 11. Competitive Advantage Technology Data Network
- 12. Competitive Advantage: Not Just for Product HiringSalesMarketing Content (High authority) Create Category (Inbound Mktg) Channel (Agencies) Process (Free Trial) Tools (Website Grader) Best Place to Work Boston (not Silicon Valley) Culture Code
- 13. 4 Evolve Faster with Shorter Cycles
- 15. Generations per year Quarterly = 4 Monthly = 12 Weekly = 52
- 16. Monthly Goals Tracked Daily
- 17. Monthly Goals Tracked Daily
- 18. 0% 50% 100% %ProgresstoLeadsGoal Business Days Left in Month Actual Leads Leads Goal React to Alarms to Ensure Success Create new offers Publish more Promote more Increase paid ads
- 19. 5 Hire Exceptional Marketers
- 20. Desired Skills for Great Marketers Digital Analytical Reach Content
- 21. DIGITAL Look for people who speak “digital” without an accent. Digital natives or immigrants are both fine as long as they have full digital citizenship.
- 22. ANALYTICAL Everyone should be more analytical than the average person in their role elsewhere. Even a writer should want to evaluate their performance using metrics.
- 23. REACH Great marketers leave evidence that they have a gravitational pull. They have done something that “attracted” people to them or their work before.
- 24. Find people who create content by their nature, not arm twisting. You do not want content creation to be a chore. CONTENT
- 25. SKILLS BY FUNNEL STAGE CloseConvertAttract Key Skills • Blogging • Social Media • SEO • Writing, Design, Creative D A R C Key Skills • Optimization: LPs, CTAs, Workflows • Analytics • Lead Scoring D A R C Key Skills • Product expert • Teacher / trainer • User testing • Messaging • Persuasion D A R C
- 26. Interviewing Marketers 1. Funnel Question 2. Lead Scoring Question 3. Website Homepage Question
- 27. The Funnel Question “Pretend you're the CMO for this company, and you have to decide on what your marketing team should focus. What do you do?" 25,000 Visitors 250 Leads 100 Sales Ready Leads 25 Opportunities 5 Customers
- 28. The Lead Scoring Question “I just emailed you an Excel file of 10,000 leads with data like company size and industry for each of them, and you can see the 200 leads that became customers. How can you use that data to make a lead score to help us prioritize leads in the future?”
- 29. The Website Homepage Question “The CEO likes version A, the COO likes version B, and the company is evenly divided. Which homepage do you launch?” Millions Love Our Company Text text text Text text text Text text text Text text text Text text text Text text text Text text text Text text text Text text [Video] Make More Money With Us • Text text text Text text text Text text text Text text text text text • Text text text Text text text Text text text • Text text text Text text text Text text text Text [Picture 1] [Picture 2]
- 30. 6 Manage Well with Org Structure and Process
- 31. Organization by Team Size AttractAttract, Convert + Close Team = 9Team = 3Team = 1 Team = 18 Convert Close Attract (2) Convert + Close OR Attract (5) Blog = 2 Offers = 1 SEO/SM = 1 Design = 1 Convert (2) Close (2) Attract (9) Blog = 3 Offers = 2 SEO/SM = 2 Design = 2 Convert (6) By Persona, Geo or Sales Team Close (3) PM / SE Split, or by Product
- 32. HubSpot Mktg Org Over Time 2012 (25 ppl) 2009 (8 ppl) 2007 (2 ppl) 2014 (70 ppl) VP • Lead gen & inbound background • Management of 15 College Grad • 2 internships • Generalist ToFu Team • 3 people MoFu Team • 3 people Teams by Channel (email, blog, social) MoFu Teams by Personas Prod Mktg VP/Dir Content VP/Dir Funnel VP/Dir Product Mktg VP/Dir Brand & Buzz (detail on next slide)
- 33. HubSpot Marketing in 2014 Dir. Product Mktg (~12) VP Funnel (~30) VP Content (~12) Dir. Brand & Buzz (~13) Results / Metrics • Website visitors • New contacts generated Activity • Blog articles • Ebooks & webinars • Other content Results / Metrics • Marketing pipeline • Sales goal % Activity • Lead nurturing • Lead scoring • Sales alignment • Optimization Results / Metrics • Sales test scores • % sales selling various features Activity • Product content • Sales enablement Results / Metrics • PR hits • Event #s and feedback • Satisfaction of others Activity • PR & Events • Creative: Videos, graphics, design CloseConvertAttract
- 34. Monthly Process for Teams Goals for month set by CMO Teams decide on activities Teams execute on activities Teams report on metrics / activity CMO Feedback to Teams
- 35. Summary: Keys to Success 1. Category Creator vs Better Mousetrap 2. Align Sales & Marketing with Business Strategy 3. Create Competitive Advantage in Everything You Do 4. Evolve Faster with Shorter Cycles 5. Hire Exceptional Marketers 6. Manage Well with Org Structure & Process in Marketing
- 36. Thank You! If you liked this, you should: Follow me on Twitter www.twitter.com/mvolpe Subscribe to my blog (0-2 articles / month): www.MikeVolpe.com I’m on the Snapchat bandwagon too: https://www.snapchat.com/add/Mike-Volpe
- 37. Questions? Learn more from Mike at MikeVolpe.com Questions about UserTesting? Email adam@usertesting.com #UTwebinar