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[Elite Camp 2016] Nilan Peiris Product == People

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Nilan will be talking through how finding its cause helped TransferWise build an evangelical brand and drive product driven growth.

TransferWise is the leader in international money transfer transferring over £0,5bn a month, doubling in size every 3 to 4 months mainly through Word of Mouth. Nilan will be talking through how defining its purpose helped TransferWise unlock “NPS driven growth”.

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[Elite Camp 2016] Nilan Peiris Product == People

  1. 1. @nilanp THE MISSION DRIVEN STARTUP
  2. 2. @nilanp HOW BUILDING YOUR CULTURE AROUND A CAUSE CAN CREATE A PRODUCT WHICH GROWS ITSELF
  3. 3. @nilanp + A FEW GROWTH HACKS
  4. 4. FIRST INTRODUCTIONS
  5. 5. @nilanp INTROS
  6. 6. WTF IS ONE ANYWAY ?
  7. 7. A MISSION DRIVEN STARTUP IS A VEHICLE FOR CHANGING THE WORLD
  8. 8. TRANSFERWISE WAS STARTED TO SOLVE A PROBLEM @nilanp@nilanp
  9. 9. IN OUR CASE A PERSONAL PAIN POINT HELPED TO SEE AN EPIDEMIC DYSFUNCTION IN THE ENTIRE INDUSTRY, WHICH LACKED ANY NATURAL FORCE OF IMPROVEMENT OR MOVE TOWARDS RESOLUTION.  — KRISTO KÄÄRMANN & TAAVET HINRIKUS@nilanp@nilanp
  10. 10. @nilanp A BANK COULD HAVE STARTED TRANSFERWISE AT ANY POINT IN THE LAST 100 YEARS @nilanp
  11. 11. GROWTH
  12. 12. @nilanp £0.5 MILLION ➤ £0.5 BILLION
  13. 13. @nilanp 60 TRANSFERWISERS ➤ 600 TRANSFERWISERS
  14. 14. @nilanp EVANGELISM IS THE BIGGEST DRIVER OF GROWTH
  15. 15. WE BELIEVE WE CAN CREATE EVANGELICAL CUSTOMERS
  16. 16. SO WHY DO PEOPLE RECOMMEND OUR PRODUCT ?
  17. 17. RATIONALRATIONAL EMOTIONAL
  18. 18. RATIONALPRODUCT BRAND
  19. 19. RATIONAL SPEED CONVENIENCE PRICE COVERAGE BRAND
  20. 20. TO ACHIEVE ADVOCACY YOUR PRODUCT NEEDS TO BE AN ORDER OF MAGNITUDE BETTER THAN THE ALTERNATIVE
  21. 21. BUT DON’T DO THIS AS “GROWTH HACK” DO IT BECAUSE THE WORLD DESERVES IT
  22. 22. RATIONAL SPEED CONVENIENCE PRICE COVERAGE BRAND
  23. 23. @nilanp PEOPLE DO NOT TALK ABOUT MONEY TRANSFER IN THE PUB @nilanp
  24. 24. @nilanp GIVE YOUR CUSTOMERS STORIES TO TELL @nilanp
  25. 25. @nilanp INSPIRE PEOPLE WITH YOUR CAUSE AND YOU WILL CREATE A MOVEMENT BIGGER THAN YOUR STARTUP @nilanp
  26. 26. You can’t copy that !
  27. 27. CULTURE
  28. 28. WE WORK IN AUTONOMOUS INDEPENDENT TEAMS THAT FOCUS ON KPIS THAT MAKE A DIFFERENCE TO OUR CUSTOMERS AND DRIVE OUR GROWTH @nilanp@nilanp
  29. 29. @nilanp THE CURRENCIES TEAM WORKS ON LAUNCHING NEW CURRENCIES @nilanp
  30. 30. @nilanp IT IS AUTONOMOUS & INDEPENDENT @nilanp
  31. 31. Currencies Operations Verification Conversion Experience Virality Marketing @nilanp
  32. 32. @nilanp
  33. 33. VALUES : CUSTOMERS > TEAM > EGO
  34. 34. @nilanp
  35. 35. @nilanp WEAK PRODUCT OWNERSHIP
  36. 36. @nilanp EVERY PART OF THE PRODUCT IS OWNED
  37. 37. @nilanp ANY TEAM CAN CHANGE ANY PART OF THE PRODUCT
  38. 38. @nilanp@nilanp
  39. 39. MARKETING PRODUCT @nilanp@nilanp
  40. 40. METRICS - NPS
  41. 41. Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
  42. 42. 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. If promoters > detractors you WILL grow
  44. 44. N.B. This is fucking hard.
  45. 45. It works ! (But barely)
  46. 46. It works ! (But barely) It works with no significant issues !
  47. 47. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
  48. 48. 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 fucking incredible
  49. 49. TRADE OFFS
  50. 50. TRADE OFFS - Consistency - Efficiency - Singularity of vision - Swiftness of collective decision making - Ownership - Speed - Agility
  51. 51. 3 GROWTH HACKS FOR EARLY STAGE STARTUPS
  52. 52. @nilanp 1. FIND YOUR GROWTH LEVERS
  53. 53. Supply was the biggest growth lever at HouseTrip
  54. 54. Facebook’s news feed optimises for engagement
  55. 55. @nilanp 2. BUILD ACQUISITION INTO YOUR PRODUCT
  56. 56. @nilanp 3. USE MARKETING TO AMPLIFY YOUR PRODUCT
  57. 57. Focus =
  58. 58. @nilanp TITLE TEXT
  59. 59. @nilanp 1. FIND YOUR SCALING LEVERS 2. BUILD ACQUISITION INTO YOUR PRODUCT 3. ADD MARKETING
  60. 60. ONWARDS @nilanp

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