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Mission-Driven Growth—How
Building a Culture Around Your
Cause Can Create Explosive Word
of Mouth Growth
Nilan Peiris, Tra...
@nilanp
Mission Driven
Marketing.
@nilanp
What I’ve
learned
building a
unicorn with
Word of
Mouth.
@nilanp
What I’ve learned ….
1. About getting to traction
2. About marketing
3. About Word of Mouth
@nilanp
What I’ve learned ….
1. About getting to traction
2. About marketing
3. About Word of Mouth
@nilanp
INTROS
Death Zone
Revenue
Revenue
Revenue
Revenue
How do I get
out of the
death zone ?
A typical founder
conversation
Anonymised using
characters from
The Wire
x
GROWTH
Dude - we’re running
outta cash in 6 months
GROWTH
Lets go see the Man -
he can give us funding
Introducing the Man
GROWTH
Come back
when you have
traction…
GROWTH
We need to get
traction, we need to
find customers, you
know what we need ?
GROWTH
Marketing
GROWTH
Word.
Marketing is what we
need… but marketings
expensive. You know
what we need ?
GROWTH
Money… lets go see
the Man.
@nilanp
What I’ve learned ….
1. About getting to traction
2. About marketing
3. About Word of Mouth
Revenue
Marketing $$$$
Revenue
Marketing $$$$
THE INFINITELY
SCALABLE
MARKETING CHANNEL
DOESN’T EXIST
Revenue
Marketing $$$$
What is the problem
marketing is solving ?
MARKETINGS JOB IS TO FIX THIS
Affiliates.
SEO.
Facebook.
@nilanp
Lets not building marketing teams
that are focussed on spending
money…
@nilanp
… lets instead build marketing teams
that are better at solving problems
1. Marketing channels are saturated
2. Category defining startups have no
latent demand
3. Alignment between marketing and...
Marketing channels are saturated.
No margin, No clicks
Category defining startups have no
latent demand
If you are building a category defining
product
No one has been trained t...
Product.
Marketing.
@nilanp
What I’ve learned ….
1. About getting to traction
2. About marketing
3. About Word of Mouth
@nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
@nilanp
Would you recommend us to
your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Total
Promoters - Detrac...
@nilanp
The NPS Richter scale
@nilanp
1 2 3 4 5 6 7 8 9 10
@nilanp
@nilanp
@nilanp
@nilanp
@nilanp
@nilanp
@nilanp
If promoters >
detractors you WILL
grow
@nilanp
N.B. This is hard.
It works !
(But barely)
It works !
(But barely)
It works with
no significant
issues !
It works !
(But barely)
It works with
no significant
issues !
It works. Wow
that was slick
It works !
(But barely)
It works with
no significant
issues !
It works. Wow
that was slick
You’ve just blown
my socks off ...
Every app
on your
phone has
an insanely
high NPS
Systemising Word of Mouth at
TransferWise
TransferWise was started
to solve a problem
@nilanp@nilanp
@nilanp
$100,000 ➤ $1,000,000,000
@nilanp
60 ➤ 700 TransferWisers
@nilanp
Word of Mouth is the biggest
driver of growth
We believe our customers will
become evangelists after using our
product
Why do people recommend our
product ?
@nilanp
RATIONalRational Emotional
RATIONalProduct Cause
RATIONal
Speed
Price
Convenience
Cause
To achieve advocacy your product
needs to be an order of magnitude
better than the alternative
HINT: But don’t do this as “growth
hack”
RATIONal
Speed
Price
Convenience
Cause
Money without borders.
Instant, convenient, transparent
and eventually free
We’re powering money for people and businesses...
You can’t copy
that !
So…
10x product
+ Cause driven marketing
= Explosive Word of Mouth growth
@nilanp
ONE question:
@nilanp
So how you do build a 10x product ?
@nilanp
Money moves just fine
around the world today
Its just slow, expensive
and hard to use
We’re building an alternate
network that’s faster,
cheaper, easier to use
If we were just a
pretty UX no-one
would use us
@nilanp
Brazil
@nilanp
Singapore
United Kingdom
So how you do build a 10x product ?
Solve really hard problems that
haven’t been solved before
@nilanp
So…
10x product
+ Cause driven marketing
= Explosive Word of Mouth growth
@nilanp
TransferWise
@nilanp
Want video access
Jamie Siminoff, Ring
This
could
be
you!
View recordings of all #GHConf17 presentations with our virtual ...
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth
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[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth

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In this presentation, Nilan Peiris from Transferwise, talks about how building a culture around your cause can create explosive word of mouth growth.

Published in: Business

[#GHConf17] Mission-Driven Growth — How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth

  1. 1. Mission-Driven Growth—How Building a Culture Around Your Cause Can Create Explosive Word of Mouth Growth Nilan Peiris, Transferwise
  2. 2. @nilanp Mission Driven Marketing.
  3. 3. @nilanp What I’ve learned building a unicorn with Word of Mouth.
  4. 4. @nilanp What I’ve learned …. 1. About getting to traction 2. About marketing 3. About Word of Mouth
  5. 5. @nilanp What I’ve learned …. 1. About getting to traction 2. About marketing 3. About Word of Mouth
  6. 6. @nilanp INTROS
  7. 7. Death Zone
  8. 8. Revenue
  9. 9. Revenue
  10. 10. Revenue
  11. 11. Revenue
  12. 12. How do I get out of the death zone ?
  13. 13. A typical founder conversation
  14. 14. Anonymised using characters from The Wire
  15. 15. x
  16. 16. GROWTH Dude - we’re running outta cash in 6 months
  17. 17. GROWTH Lets go see the Man - he can give us funding
  18. 18. Introducing the Man
  19. 19. GROWTH
  20. 20. Come back when you have traction…
  21. 21. GROWTH We need to get traction, we need to find customers, you know what we need ?
  22. 22. GROWTH Marketing
  23. 23. GROWTH Word. Marketing is what we need… but marketings expensive. You know what we need ?
  24. 24. GROWTH Money… lets go see the Man.
  25. 25. @nilanp What I’ve learned …. 1. About getting to traction 2. About marketing 3. About Word of Mouth
  26. 26. Revenue Marketing $$$$
  27. 27. Revenue Marketing $$$$
  28. 28. THE INFINITELY SCALABLE MARKETING CHANNEL DOESN’T EXIST Revenue Marketing $$$$
  29. 29. What is the problem marketing is solving ?
  30. 30. MARKETINGS JOB IS TO FIX THIS
  31. 31. Affiliates.
  32. 32. SEO.
  33. 33. Facebook.
  34. 34. @nilanp Lets not building marketing teams that are focussed on spending money…
  35. 35. @nilanp … lets instead build marketing teams that are better at solving problems
  36. 36. 1. Marketing channels are saturated 2. Category defining startups have no latent demand 3. Alignment between marketing and product is all important @nilanp
  37. 37. Marketing channels are saturated. No margin, No clicks
  38. 38. Category defining startups have no latent demand If you are building a category defining product No one has been trained to Google you
  39. 39. Product. Marketing.
  40. 40. @nilanp What I’ve learned …. 1. About getting to traction 2. About marketing 3. About Word of Mouth
  41. 41. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
  42. 42. @nilanp Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters Total Promoters - Detractors = NPS
  43. 43. @nilanp The NPS Richter scale
  44. 44. @nilanp 1 2 3 4 5 6 7 8 9 10
  45. 45. @nilanp
  46. 46. @nilanp
  47. 47. @nilanp
  48. 48. @nilanp
  49. 49. @nilanp
  50. 50. @nilanp
  51. 51. @nilanp If promoters > detractors you WILL grow
  52. 52. @nilanp N.B. This is hard.
  53. 53. It works ! (But barely)
  54. 54. It works ! (But barely) It works with no significant issues !
  55. 55. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
  56. 56. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick You’ve just blown my socks off that was incredible
  57. 57. Every app on your phone has an insanely high NPS
  58. 58. Systemising Word of Mouth at TransferWise
  59. 59. TransferWise was started to solve a problem @nilanp@nilanp
  60. 60. @nilanp $100,000 ➤ $1,000,000,000
  61. 61. @nilanp 60 ➤ 700 TransferWisers
  62. 62. @nilanp Word of Mouth is the biggest driver of growth
  63. 63. We believe our customers will become evangelists after using our product
  64. 64. Why do people recommend our product ? @nilanp
  65. 65. RATIONalRational Emotional
  66. 66. RATIONalProduct Cause
  67. 67. RATIONal Speed Price Convenience Cause
  68. 68. To achieve advocacy your product needs to be an order of magnitude better than the alternative
  69. 69. HINT: But don’t do this as “growth hack”
  70. 70. RATIONal Speed Price Convenience Cause
  71. 71. Money without borders. Instant, convenient, transparent and eventually free We’re powering money for people and businesses: to pay, to get paid, to spend, in any currency, wherever you are, whatever you’re doing
  72. 72. You can’t copy that !
  73. 73. So… 10x product + Cause driven marketing = Explosive Word of Mouth growth @nilanp
  74. 74. ONE question: @nilanp
  75. 75. So how you do build a 10x product ? @nilanp
  76. 76. Money moves just fine around the world today
  77. 77. Its just slow, expensive and hard to use
  78. 78. We’re building an alternate network that’s faster, cheaper, easier to use
  79. 79. If we were just a pretty UX no-one would use us
  80. 80. @nilanp Brazil
  81. 81. @nilanp Singapore
  82. 82. United Kingdom
  83. 83. So how you do build a 10x product ? Solve really hard problems that haven’t been solved before @nilanp
  84. 84. So… 10x product + Cause driven marketing = Explosive Word of Mouth growth @nilanp
  85. 85. TransferWise @nilanp
  86. 86. Want video access Jamie Siminoff, Ring This could be you! View recordings of all #GHConf17 presentations with our virtual pass & purchase tickets for next year’s event at growthhackers.com/conference

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