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Lean Startup Circle: Sean Ellis Teaches the Keys to Explosive Startup Growth

Sean Ellis has helped companies like Dropbox, EventBrite and Xobni grow explosively. His expertise was also essential in guiding Uproar and LogMeIn to IPO. Learn how he did it.

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Lean Startup Circle: Sean Ellis Teaches the Keys to Explosive Startup Growth

  1. Lean Startup Marketing<br />Channeling Resources to Create a Fast Growing Startup<br />Sean Ellis<br />Lean Startup Circle<br />March 24, 2010<br />
  2. Cross startup learning… <br /> for betterment of all startups<br />Led by entrepreneurs<br /><ul><li> Steve Blank
  3. Dave McClure
  4. Eric Ries
  5. Everyone here</li></ul>2<br /><br />
  6. My Lean Experience<br />Collective experience outweighs mine<br />Steve Blank recommended “lean” preso<br />Then couple Eric Ries posts/presentations<br />Limited time to participate in lean revolution<br />But 15 years of “lean-ish” principles<br />3<br /><br />
  7. Objectives for Today’s Meeting<br />Share insights for growing a valuable startup<br />Fresh look at my approach growing startups using lean startup principles<br />Work together to evolve our understanding of startup growth<br />4<br /><br />
  8. What are the Lean Startup Principles?<br />Low burn by design (no scaling until revenue)<br />Learn fast (fail fast)<br />Rapid hypothesis testing about market, pricing, customers (customers & markets unknown)<br />Metrics, iteration… <br />Agile development<br />What else?<br />5<br /><br />
  9. “Lean-ish” Marketing = Back-to-Back IPOs<br />First Startup (1996 launch)<br />Lead online game category<br />Get users at cost lower than user value (ARPU)<br />Minimize waste via sophisticated metrics<br />Second Startup (2003 launch)<br />Added qualitative research and funnel optimization<br />6<br /><br />
  10. Goal: Build Sustainable Valuable Company<br />7<br /><br />
  11. Low value startups: <br /> Scaling or cost-effective marketing<br />Valuable startups: <br /> Scaling cost-effective marketing<br />8<br /><br />
  12. Valuable Company Starts with Value<br />Product/market fit = product is “must have” (value)<br />Become a “must have” with customer development<br />Validate “value” assumptions early (who needs/why?)<br />Get users on first release ASAP<br />Find “must have” users/use cases (facts outside building)<br />Pivot if necessary to create value<br />9<br /><br />
  13. Getting to Scalable Cost-Effective Marketing<br />10<br /><br />
  14. Pyramid through Lean Startup Lens<br />Waste – Eliminate wasted time, money, effort…<br />Focus – Channel resources to create value<br />Speed - Get to next level as quickly as possible<br />Learn – Hypothesize, test, refine<br />11<br /><br />
  15. Survey User Perceived Value<br />Free template at<br />12<br /><br />
  16. Key “Value” Question<br />“How would you feel if you could no longer use Product?”<br />13<br /><br />
  17. Start Transition to Growth<br />14<br /><br />
  18. Better conversion efficiency<br /> Improves range & scalability of viable channels<br />15<br /><br />
  19. Race to Scale – Key Projects<br />Positioning - based on perceived value<br />Right metrics - to channel resources<br />Optimize conversions - LP & funnel<br />Viable economics – monetize user value<br />Scalable growth strategy - who/intent?<br />What else?<br />16<br /><br />
  20. Optimize Landing Pages & Full Funnel <br />Home Page<br />200,000<br />100000<br />50%<br />Signup<br />50000<br />100,000<br />12.5&<br />12.5%<br />Path 2<br />Path 1<br />25000<br />X000<br />25000<br />X%<br />Path 1 (step 2)<br />X000<br />X00<br />X%<br />X%<br />X%<br />X%<br />Paid<br />Paid<br />Free<br />Free<br />X000<br />X00<br />X00<br />X000<br />17<br /><br />
  21. Scalable Growth Now Possible<br />18<br /><br />
  22. Test from Free to Paid Channels<br />19<br /><br />
  23. Driving/Managing Growth<br />Budget to maximize positive ROI spend<br />20<br /><br />
  24. Valuable Company<br />Some loss of control is good<br />Understand via triangulation<br />Origin tracking<br />Trend correlation <br />Surveys<br />Feed the beast<br />21<br /><br />
  25. Channel Your Resources to Climb the Pyramid<br />Scale<br />Optimize<br />Economics<br />Positioning<br />Product/Market Fit (Value)<br />Twitter: @seanellis<br />Blog:<br />