Growth in the ukraine.key

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Growth in the ukraine.key

  1. 1. @nilanp NPS driven growth OR How to grow without spending a TON on marketing Nilan Peiris VP Growth TransferWise
  2. 2. @nilanp
  3. 3. Startups @nilanp
  4. 4. Startups Tequila @nilanp
  5. 5. X
  6. 6. Opinion is an outcome of experience
  7. 7. Back to traction @nilanp
  8. 8. Revenue
  9. 9. Revenue
  10. 10. Revenue
  11. 11. Death Zone
  12. 12. Revenue
  13. 13. How do I get out of the death zone ?
  14. 14. A typical founder conversation
  15. 15. Anonymised using characters from the Wire
  16. 16. x
  17. 17. GROWTH Dude - we’re running outta cash in 6 months
  18. 18. GROWTH Lets go see the Man - he can give us funding
  19. 19. Introducing the Man @nilanp
  20. 20. GROWTH
  21. 21. GROWTH Come back when you have traction…
  22. 22. GROWTH We need to get traction, we need to find customers, you know what we need ?
  23. 23. GROWTH Marketing
  24. 24. GROWTHWord. Marketing is what we need… but marketings expensive. You know what we need ?
  25. 25. GROWTH Money… lets go see the Man.
  26. 26. GROWTH
  27. 27. How do I get out of the death zone ?
  28. 28. 4 principles for NPS driven growth @nilanp
  29. 29. 1. Supply is your biggest scaling lever 2. Systemically improve your experience for your customers through curating supply 3. Once product is working, focus on building NPS to drive growth 4. Once product is growing add marketing @nilanp
  30. 30. Supply is usually your biggest scaling lever PRINCIPLE 1
  31. 31. Focus on supply or customers first ?
  32. 32. Chicken Egg OR
  33. 33. Chicken Egg OR I came first
  34. 34. SUPPLY CAME FIRST
  35. 35. SUPPLY IS THE BIGGEST DRIVER OF YOUR CONVERSION RATE @nilanp
  36. 36. e Drivers of conversion rate
  37. 37. Availability of product I WANT A T SHIRT
  38. 38. Availability of in right size / date I WANT A MEDIUM T SHIRT
  39. 39. Availability at price point ITS GOT TO BE UNDER £30
  40. 40. MARKETING BULLSHIT (CRO)
  41. 41. 1. Availability of product 2. Availability of product on right date / size 3. Availability at right price point 4.Marketing bullshit (CRO) Drivers of conversion rate
  42. 42. Start with one market and build from there @nilanp
  43. 43. Summary 1. Acquiring supply solves the chicken / egg problem 2. Focus on availability of product at price point 3. Figure out how to scalable acquire supply and get clear over time on your value proposition to suppliers 4. Focus on growth through systemically improving your supply base @nilanp
  44. 44. PRINCIPLE 2 Systemically improve the experience of your customers
  45. 45. Practical advice Focus on single users credit: Klinger.io
  46. 46. Figure out your supply curation metrics @nilanp
  47. 47. HouseTrip’s recommendation algorithm measures quality of stay
  48. 48. Facebook’s news feed optimises for engagement
  49. 49. 1. Systemically improve your customer experience by improving the quality of supply 2. Focus on outcome metrics for your customers Summary
  50. 50. Focus on NPS and your business will grow PRINCIPLE 3
  51. 51. Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters
  52. 52. Would you recommend us to your friends? 1 2 3 4 5 6 7 8 9 10 Detractors Neutral Promoters Total Promoters - Detractors = NPS
  53. 53. If promoters > detractors you WILL grow
  54. 54. N.B. This is fucking hard.
  55. 55. It works ! (But barely)
  56. 56. It works ! (But barely) It works with no significant issues !
  57. 57. It works ! (But barely) It works with no significant issues ! It works. Wow that was slick
  58. 58. 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
  59. 59. ONLY focus on NPS once the product is working
  60. 60. Every app on your phone has an insanely high NPS
  61. 61. What drives recommendation ?
  62. 62. Rational Emotional
  63. 63. Rational Emotional • Product • Brand
  64. 64. You can’t copy that !
  65. 65. ONLY focus on NPS once the product is working
  66. 66. Summary 1. Focus on NPS and you will grow 2. Understand the drivers of NPS and align your product and marketing organisation behind this
  67. 67. Once product is growing add marketing PRINCIPLE 4
  68. 68. 1. Performance marketing 2. Viral growth 3. Inbound marketing
  69. 69. Money in Money out 1. Performance marketing
  70. 70. Money in < Money out
  71. 71. Practical advice When to focus on performance marketing ? 1. If your unit economics are better than anyone else in the industry 2. You can target relevant traffic @nilanp
  72. 72. Viral growth
  73. 73. Viral growth = Word of Mouth Referral programs Crazy social sharing
  74. 74. Focus Give away value NOT money
  75. 75. Focus =
  76. 76. What amplifies viral growth rate ?
  77. 77. Frequency of use Relevance Shareability
  78. 78. Practical advice Pre-requisites 1. Have a great product 2. Have your first 1000 customers 3. Customers are part of high trust networks with other target customers @nilanp
  79. 79. Inbound marketing
  80. 80. Build acquisition into your app
  81. 81. NPS driven growth 4 principles
  82. 82. 1. Supply is your biggest scaling lever 2. Systemically improve your experience for your customers through curating supply 3. Once product is working, focus on building NPS to drive growth 4. Once product is growing add marketing @nilanp
  83. 83. @nilanp

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