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5 Secrets of Growth by Lincoln Murphy

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5 Secrets of Growth by Lincoln Murphy

  1. 1. 5 SECRETS OF GROWTH Lincoln Murphy, Founder Sixteen Ventures Presented to: June 3, 2015
  2. 2. 5 SECRETS TO GROWTH Lincoln Murphy, Founder Sixteen Ventures Presented to: June 3, 2015 THE ONE SECRET OF
  3. 3. 100% of the time, the biggest barrier to progress - traction, growth, etc. - is NOT being DELIBERATE.
  4. 4. Deliberate = “done consciously and intentionally”
  5. 5. Customer Success Desired Outcome Eliminate FOMO Ideal Customer Deliberate Growth Framework Get Deliberate
  6. 6. Deliberate Growth Framework Customer Success Desired Outcome Eliminate FOMO Ideal Customer Get Deliberate
  7. 7. Why Get Deliberate? •  Throwing a bunch of stuff at the wall and seeing what sticks is for amateurs •  It wastes time, resources, energy, money, etc. Deliberate Growth Framework
  8. 8. Question! How many of you believe that, given enough time, money, and resources, anything is possible? Deliberate Growth Framework
  9. 9. HAND RAISING CLINIC!
  10. 10. Why Get Deliberate? •  Grow because of – not in-spite - of your efforts •  No More Sloppy Progress! Deliberate Growth Framework
  11. 11. Sloppy Progress •  Accepting any growth as good growth •  Focusing on Vanity Metrics •  Seeds of Churn are Planted Early Deliberate Growth Framework
  12. 12. Deliberate Growth Framework Churn = Bad
  13. 13. Deliberate Growth Framework Customer Success Desired Outcome Eliminate FOMO Ideal Customer Get Deliberate
  14. 14. Question! How many of you had heard of Customer Success before today? Deliberate Growth Framework
  15. 15. Question! How many of you have implemented Customer Success in your business? Deliberate Growth Framework
  16. 16. customer success = “Your customer achieving their Desired Outcome through their interactions with your company.” Deliberate Growth Framework
  17. 17. Customer Success Management = “Proactively managing the process of your customers achieving their Desired Outcome” Deliberate Growth Framework
  18. 18. Customer Success is Hot Deliberate Growth Framework •  Part of the SaaS Business Model now •  Driver of Customer Lifetime Value (LTV) •  Longer Lifetime •  More Revenue •  Second Order Revenue
  19. 19. When to do Customer Success? Deliberate Growth Framework •  Before you Launch (or Now) •  Churn Kills •  Company Value •  Morale •  Total Addressable Market
  20. 20. When to do Customer Success? Deliberate Growth Framework •  Only Acquire Customers with Success Potential •  Technical Fit •  Functional Fit •  Experience Fit •  Support Fit
  21. 21. Deliberate Growth Framework Customer Success Desired Outcome Eliminate FOMO Ideal Customer Get Deliberate
  22. 22. What is Desired Outcome? Deliberate Growth Framework •  What they want to achieve through their interactions with your company •  Required Outcome + Appropriate Experience
  23. 23. The Success Gap Deliberate Growth Framework •  Their Desired Outcome may only be achieved outside of your product •  The best companies understand & bridge this gap
  24. 24. Question! How many of you have – or had - an MVP? Deliberate Growth Framework
  25. 25. Question! How many of you feel your MVP is/was successful? Deliberate Growth Framework
  26. 26. Deliberate Growth Framework
  27. 27. MarCom-Specific Deliberate Growth Framework Your customers don’t want to send an email, distribute a press release, or inject themselves into conversations on the web
  28. 28. MarCom-Specific Deliberate Growth Framework •  Your customers want more users, more customers, more revenue, etc. •  If they fail to achieve that they will blame you (so… bridge the Success Gap)
  29. 29. Protip: How to use Desired Outcome in your Marketing Deliberate Growth Framework
  30. 30. “Enter the conversation already taking place in your customer’s mind.” – Robert Collier Deliberate Growth Framework
  31. 31. “Enter the conversation already taking place in your customer’s mind.” – Robert Collier, c1937 Deliberate Growth Framework
  32. 32. Success = Their Desired Outcome
  33. 33. The topic of the conversation in their mind Success = Their Desired Outcome
  34. 34. Deliberate Growth Framework Customer Success Desired Outcome Eliminate FOMO Ideal Customer Get Deliberate
  35. 35. Question! How many of you know what FOMO means? Deliberate Growth Framework
  36. 36. What is FOMO? Deliberate Growth Framework •  Fear of Missing Out •  “… we must sign that customer no matter what” •  “… ‘go wide’ … don’t narrow your focus” •  “… take that custom dev …”
  37. 37. Question! How many of you have experience FOMO before? Deliberate Growth Framework
  38. 38. The Reality of FOMO Deliberate Growth Framework •  You ARE missing out by not focusing •  Real, Actionable Insights •  It’s better to not sign a customer who’s a bad fit now and possibly sign them later when they are a good fit
  39. 39. Deliberate Growth Framework Customer Success Desired Outcome Eliminate FOMO Ideal Customer Get Deliberate
  40. 40. Question! How many of you have developed an Ideal Customer profile? Deliberate Growth Framework
  41. 41. What is an Ideal Customer? Deliberate Growth Framework The customer type that – over a strictly- defined time frame - you will dedicate Sales and Marketing Resources to acquire.
  42. 42. Ideal Customer Profile Framework Goal + Time + Maturity = Situation
  43. 43. Deliberate Growth Framework Ideal Customer Profile Ready Willing Able Success Potential Acquisition Efficiency Expansion Potential Advocacy Potential
  44. 44. Ideal Customer Profile Framework Ideal Customer Profile Ready Willing Able Success Potential Acquisition Efficiency Expansion Potential Advocacy Potential Situation
  45. 45. Ideal Customer Profile Framework Situation DETERMINES Success How are you doing 30-days in? On your way to the 90-day goal?
  46. 46. Is this just Persona Mapping? Deliberate Growth Framework •  No. •  Persona mapping comes AFTER you’ve identified your Ideal Customer •  Personas are different depending on customer type
  47. 47. Ideal Customer Profile is Powerful Deliberate Growth Framework •  Deliberate Customer Acquisition! •  Generally you can only test tactics; this allows you to test customers •  Kills FOMO because it’s temporary
  48. 48. Deliberate Growth Framework Customer Success Desired Outcome Eliminate FOMO Ideal Customer Get Deliberate
  49. 49. Lincoln Murphy @lincolnmurphy http://sixteenventures.com

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