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The Lean Startup - Growth Hacking, Traction

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Lecture: 24 April 2018

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The Lean Startup - Growth Hacking, Traction

  1. 1. Lean Startup Dr. Judith Grummer (Gentz) Fachhochschule Wedel | 25. April 2018 Traction/Growth Hacking & Startup-Analytics
  2. 2. „Treat your first 100 customers like gold.“ Alexis Ohanian, Co-Founder reddit
  3. 3. „We are fanatical about creating meaningful relationships with our users“ Kevin Hale, Co-Founder wufoo
  4. 4. „Traction is a sign that something is working.“ Gabriel Weinberg, Founder DuckDuckGo
  5. 5. „A startup is a company designed to grow fast.“ Paul Graham, Co-Founder Y-Combinator Bildquelle: https://bootstrapping.dk/wp-content/uploads/2018/04/1960-1-1.jpg
  6. 6. Problem/ Solution-Fit Product/ Market-Fit Scale Start here! Achieve this Traction Time Lean Startup Stages Making something people want Marketing something people want Dominate the market „Do things that don‘t scale“
  7. 7. Growth Hacking | Sean Ellis Quelle: Sean Ellis (2010) Term „Growth Hacker“ / Arnoux, David (2014) Growth Hacking: The Mindset. The Framework. The Tools. Some Hacks, Slideshare David vs. Golliath You are David Software Engineering & Automation Data Analytics & Testing Creative Marketing Test by hand then automate and code Know your customers by heart Measure (almost) everything
  8. 8. Validiertes Lernen Build MeasureLearn Experiment MetricHypothesis Quelle: Ries, Eric (2011): The Lean Startup. New York 2011 / Lennarz, Hendrik (2017) Growth Hacking mit Strategie, Köln 2017 Ein Hacker verfolgt ein bestimmtes Ziel und probiert verschiedenste Methoden aus, um in ein System einzudringen.
  9. 9. P.S.: I Love You. Get your free E-Mail at hotmail Bildquelle: http://www.omninnov.com/wp-content/uploads/2016/03/courbe-Hotmail-600x320.jpg
  10. 10. The Bullseye Framework | Gabriel Weinberg, Justin Mares Quelle: Weinberg, Gabriel; Mares, Justin (2015) Traction: How any startup can achieve explosive customer growth, St. Ives 2015 1 2 3 Core- Channel 1. Targeting Blogs 2. Publicity 3. Unconven- tional PR 4. SEM 5.Social & Display Ads 6.Offline Ads 7. SEO 9.Email Marketing 10.Viral Marketing 8.Content Marketing 11. Engineering as Marketing 12. Business Development 13. Sales 14.Affiliate Programs 15. Existing Platforms 16.Trade Shows 17. Offline Events 18.Speaking Engage- ments 19. Community Building II Middle Ring: What‘s probable (by hand) 1. Was kostet ein Neukunde, der über diesen Kanal akquiriert wird? 2. Wie viele Kunden können über diesen Kanal maximal erreicht werden? 3. Sind die Kunden, die über diesen Kanal akquiriert werden können, die Richtigen? I Outer Ring:What‘s possible Brainstroming III Inner Ring: What‘s working Den zentralen Kanal finden. Traction Testing IV Redo after Testing Traction Goal
  11. 11. Focus Learning Speed Running Lean Das Handeln in einem Lean Innovation Process ist ein schneller, kontinuierlicher Vorgang. Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012
  12. 12. Ein klarer Plan für „Growth Hacking“ - Experimente - Optimierung - Anpassung 1. Ein Ziel zur Zeit 2. Wissen, was man messen möchte 3. Wissen, wann man den Stecker zieht
  13. 13. Growth Results Metric KPI Key Performance Indicator  Business Performance  Grad der Zielerreichung  Status des (strat.) Fortschritts  Business Prozesse  Iteratives Management  Kann zum KPI werden KPIs müssen ein für das Business wesentlichen Outcome mit einem bestimmten Ziel über einen festgelegten Zeitraum anzeigen (max. 10 KPIs) Metrics messen das Ergebnis bestimmter Geschäftsprozesse im täglichen Handeln. Sie werden für die Optimierung einzelner Aktivitäten herangezogen.
  14. 14. ? Was sind Metriken/ Key Performance Indicators (KPIs) bei einem Startup? Visits Logins Satisfaction Clicks Usage Returns SharesAccess Sign-ups Downloads Tell friends Payments Gross Profit ROI (Return on Invest) Life Time Value Churn Rate Conversionrates Month-on-month Growth Customer Acquisition Costs Cost per Action Active Users Revenue Recurring Revenue
  15. 15. Accessible Auditable Actionable 3 A‘s of metrics ties specific, repeatable actions to observed results can be understood by entire team go behind the numbers Quelle: Ries, Eric (2011): The Lean Startup. New York 2011
  16. 16. Vorgehen Schritt 1: Wichtigstes Geschäftsziel definieren Bsp. Zalando (Schuhe): Schuhe verkaufen Bsp. Airbnb: Zimmer vermieten Schritt 2: KPIs definieren Bsp. Zalando: Anzahl verkaufter Schuhe Bsp. Airbnb: 1. Anzahl bereitgestellter Zimmer 2. Anzahl vermieteter Zimmer Schritt 3: Conversion Funnel definieren Bsp. Zalando: Host: Visited a page > clicked on „list my space“ > clicked „continue“ > clicked „validate“ Bsp. Airbnb: Guest: Visited a page > clicked on a place to rent > clicked book > clicked on „make payment“ Quelle: Arnoux, David (2014) Growth Hacking: The Mindset. The Framework. The Tools. Some Hacks, Slideshare
  17. 17. Acquisition Activation Retention Referral Revenue Customer Funnel How do users find you? Do users have a great first experience? Do users come back? Do users tell others? How do you make money? Quelle: McClure, Dave (2007) Startup Metrics for Pirates. Pirate Metrics
  18. 18. 5 Step Web-Startup Metric Model Activation Acquisition Referral Retention Revenue Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  19. 19. 1. Problem/Solution-Fit Activation & Retention 2. Product/Market-Fit Acquisition & Referral 3. Skalierung Revenue & Profitability Prozess Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  20. 20. Activation 1st visit happy experience Homepage/ Landing Page Product Features Was machen die Nutzer bei Ihrem ersten Besuch? Schlüssel-Metriken  Pages per visit  Time on site  Conversions Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  21. 21. Retention come back multiple usage Warum kommen Nutzer zurück und wie oft? Schlüssel-Metriken  Quelle der Wiederkehrer  Wiederkehrrate  Conversions  Nutzerloyalität  Session-Länge E-Mails, Alerts System-Events, Time- based features Blogs, RSS, News Feeds Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  22. 22. Acquisition come from various channels Wo kommen die Nutzer her? Schlüssel-Metriken je Quelle  Anzahl Nutzer  Kosten  Conversion SEO SEM Social Networks PR Blogs Campaigns, Contents Biz DevDirect, Tel, TV Domains Apps, Widgets E-Mail Affiliates Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  23. 23. Referral like product enough refer to others Wie empfehlen Nutzer das Produkt weiter? Schlüssel-Metriken  % Einladungen X  # Einladungen Y  % akzeptierte Einladungen Z Viral Growth Factor = X*Y*Z Viral Loops E-Mail Widgets Affiliates Contests Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  24. 24. Revenue monetization behavior Wie verdiene ich Geld? Schlüssel-Metriken  Minimum Umsatz  Break-even Umsatz  Profitabilität Ads, Lead Generation, Subscriptions, Ecommerce Biz Dev Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  25. 25. Beispiel Stage Conversion Status Conv. % Est. Value Acquisition Visitors on Site/Widget/Landing Page (2+ pages, 10+ sec, 1+ clicks = don‘t abandon) 60% $ 0.05 Activation „Happy“ 1st visit; Usage/Signup (clicks/time/pages, email/profile reg, feature usage) 15% $ 0.25 Retention Users come back; Multiple visits (1-3x visits/mo; email/feed, open rate/CTR) 5% $ 1 Referral Users refer others (cust sat >= 8, viral g factor > 1 1% $ 5 Revenue User pay; Generate $$$ (first rev, break-even, target profitability) 1% $ 50 Quelle: McClure, Dave (2007) Startup Metrics for Pirates.
  26. 26. Acquisition Activation Retention Referral Revenue + UTM TrackersHow do users find you? Do users have a great first experience? Do users come back? Do users tell others? How do you make money? Quelle: McClure, Dave (2007) Startup Metrics for Pirates / In Anl.: Arnoux, David (2014) Growth Hacking: The Mindset. The Framework. The Tools. Some Hacks, Slideshare Conversion Funnel | Tracking-Tools Ereignisbasierte Tracking Tools (Bsp.) + „home made“ tools
  27. 27. Einfache Charts Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012 http://de.slideshare.net/LeanStartupConf/ash-maurya-slides-2013
  28. 28. Fortschritt kommunizieren Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012
  29. 29. EXPERIMENT QUEUE Lean Dashboard | Ash Maurya Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012 SUCCESS METRICS CURRENT METRICS EXPERIMENTS PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE KEY OBJECTIVE ACTIVE EXPERIMENTS COMPLETED EXPERIMENTS BUILD MEASURE LEARN AARRRKEY METRICS REVENUE STREAMS EXPERIMENT REPORT
  30. 30. EXPERIMENT QUEUE Lean Dashboard | Ash Maurya Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012 SUCCESS METRICS CURRENT METRICS EXPERIMENTS PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE KEY OBJECTIVE ACTIVE EXPERIMENTS COMPLETED EXPERIMENTS BUILD MEASURE LEARN 20 Customers 200 Customers 2,000 Customers 8 weeks from now 1.5 years from now 3 years from now Acquisition Activation Revenue Retention Referral 1,000 100% 800 80% 400 50% 200 50% 200 25% $ 20,000 MRR Oct 1 1-Page SaaS Metrics will resonate strongly 1 Experiment Title 2 Experiment Title 3 Experiment Title 4 Experiment Title 5 Experiment Title 1 Experiment Title 2 Experiment Title 3 Experiment Title 4 Experiment Title 5 Experiment Title 6 Experiment Title 7 Experiment Title Experiment Title Aug 14 Experiment Title Aug 20 Experiment Title Aug 21 Experiment Title Jul 30 Experiment Title Aug 3 Experiment Title Jul 27
  31. 31. Vielen Dank.
  32. 32. Problem/ Solution-Fit Product/ Market-Fit Scale Traction Time Lean Startup Stages Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012 Interviews Demos Videos Landing Page MVP Minimum Viable Product
  33. 33. Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012 Problem Interview Skript
  34. 34. 1. Klare Vorstellung vom Kunden/Zielgruppe haben 2. Frei machen von allen Vorstellungen über die Lösung/das Produkt 3. Fragen zum Abklärung der risikoreichsten Annahmen Interview- Vorbereitung Quelle: NG, Grace (2014),: Quick Tips for Effective Customer Interviews, http://uxceo.com/post/80877539095/quick-tips-for-effective-customer-interviews !
  35. 35. 1. Niemals damit starten, dass man an einer Idee arbeitet 2. Keine Suggestivfragen stellen 3. Keine theoretischen Szenarien 4. Keine Fragen im Konjunktiv 5. Keine Fragen, die mit „ja“ oder „nein“ beantwortet werden können. Interview- Technik Don‘ts Quelle: NG, Grace (2014),: Quick Tips for Effective Customer Interviews, http://uxceo.com/post/80877539095/quick-tips-for-effective-customer-interviews
  36. 36. 1. Gesprächspartner im Kontext der Zielgruppe einordnen 2. Immer über vergangenes Verhalten fragen 3. w-Fragen mit „wer“, „was“, „warum“, „wann“, „wo“ und „wie“ 4. Am Ende Kontaktdaten und Option zum Intro zu anderen 5. Nicht Eltern oder Freunde fragen Interview-Technik Do‘s Quelle: NG, Grace (2014),: Quick Tips for Effective Customer Interviews, http://uxceo.com/post/80877539095/quick-tips-for-effective-customer-interviews
  37. 37. 1. Persönliches Feedback z.B. via Blogs, Kunden-Interviews 2. Offene Fragen/zuhören, was Leute sagen z.B. via Communities 3. Kundenfeedback und Bedarfe ermitteln z.B. via Umfragen mit und ohne monetären Anreiz 4. Substanzielles Feedback durch Vorbestellungen z.B. via Crowdfunding Plattformen, Pre- Orders 5. Kundenversprechen testen/Kundensegmente ermitteln z.B. via Test Ads Quelle: Teten, David (2015): 10 Experiments to Test Your Startup Hypothesis, http://www.entrepreneur.com/article/243528 Weitere Experimente Phase 1: Problem- Solution-Fit
  38. 38. 6. Nutzungs- und Verwendungsexperimente z.B. via A/B-Testings, Prototypen- Designs 7. Feedback über die Verwendung z.B. Gespräche mit echten Kunden über die Benutzung des Prototypen Quelle: Teten, David (2015): 10 Experiments to Test Your Startup Hypothesis, http://www.entrepreneur.com/article/243528 Experimente Phase 2: Product- Market-Fit
  39. 39. 8. Kundensegmentierung z.B. Verkaufsversprechen für welche Zielgruppen, Google Adwords- Analyse mit Kohorten- und Conversiontracking 9. Channel-Analyse (welcher Kanal erzielt die höchste Markttraktion) z.B. Cross-Promotion, Channel- Tests Influencer-Analyse 10. Weiterempfehlungen (mit und ohne monetären Anreiz) Quelle: Teten, David (2015): 10 Experiments to Test Your Startup Hypothesis, http://www.entrepreneur.com/article/243528 Experimente Phase 2: Product- Market-Fit
  40. 40. Build MeasureLearn Idea Code Data Quelle: http://theleanstartup.com/principles MVP Minimum Viable Product
  41. 41. A minimum viable product (MVP) is the "version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort“. Eric Ries
  42. 42. Minimum Viable Product Idea Creation Feature Priori- tisation Implement Feature Test Feature Collect Feedback & Data Customer Analysis Different Base Product Pivot
  43. 43. Time Test Software Test Business Model Software Product Concierge Product Hardware Product Physical Product Test Hardware Test Business ModelTest Software Launch MVP €€ Launch MVP In Anlehnung an: Chen, Elaine (2013): Lean Startup, Hardware Edition, http://de.slideshare.net/chenelaine/lean-startup-hardware-edition-20563840, S. 52
  44. 44. Video Trailer Concierge MVP Mechanical Turk Boomerang Analog/physical Dry-Wallet High Hurdle Lean Experiment Techniques Quelle: Cooper, Brant (2014): Lean Experiment Techniques, http://www.movestheneedle.com/enterprise-lean-startup-experiment-examples/ Kramer, the Movie Expert
  45. 45. Experiment Report | Ash Maurya Background What are you trying to learn or achieve? Results Enter your qualitative/quantitative data. Validated Learning Summarize your learning from the experiment. [VALIDATED or INVALIDATED] Next Action What is the next experiment? Falsifiable Hypotheses Declare your expected outcome. Use this format: [Specific Repeatable Action] will [Expected Measurable Outcome] Details How will you setup this experiment? Title: [TITLE] Author: [NAME] Created: [DATE] Quelle: Maurya, Ash (2012): Running Lean: Iterate from Plan A to a Plan That Works. Sebastopol/CA 2012

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