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Lean Marketing & Growth Hacking - How to Create Growth with Limited Resources

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Maximizing Marketing with Minimum Resources -
There’s a lot you can be doing with your marketing budget, so how can you determine what you should be doing?

Thriving in a changing digital world demands the ability – and willingness to adapt, as well as thoughtful resource allocation.

This presentation suggests some ways to plan and execute effective, predictable and scalable marketing initiatives with limited resources.

This Presentation Includes:
- “Lean” principles and how they can be applied to your growth efforts
- How to determine the right Key Performance Indicators (KPIs) that will lead to your success
- How to test and choose the best channels and messaging for your marketing campaigns
- How to run efficient, evolving marketing campaigns that save you time and money
- Maximize your business growth and the impact of your marketing budget
- Tested and proven “growth hacks” you can start using today
- Selected growth marketing tools
- Selected growth marketing reading

Published in: Marketing
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Lean Marketing & Growth Hacking - How to Create Growth with Limited Resources

  1. 1. Lean Marketing & Growth Hacking Maximizing Your Marketing with Minimum Resources by Shamir Ozery shamirozery@gmail.com Shamirozery.com linkedin.com/in/shamirozery @ozery
  2. 2. Before we can talk about Marketing Some Assumptions…
  3. 3. 1. You know your Value Proposition
  4. 4. Your customers are not buying your product Your customers are buying your solution
  5. 5. Your customers are buying your Value Proposition
  6. 6. Example McDonalds sells Fast Food? Time
  7. 7. 2. You know who your audience is
  8. 8. http://www.uxbooth.com/articles/breaking-the-ux-status-quo/
  9. 9. 3. Have product-market-fit
  10. 10. You’re making something that people want
  11. 11. Great idea Great product Great product market fit
  12. 12. 4. Know how to measure Growth
  13. 13. “If you can’t measure it, you can’t manage it…” -Peter Drucker
  14. 14. What is Growth?
  15. 15. Growth → Different Metrics for Different Businesses
  16. 16. To manage growth we need Growth metrics (Key-Performance-Indicators)
  17. 17. Your organizational success metrics KPIsKey-Performance-Indicators
  18. 18. 1.Accessible 2.Auditable 3.Actionable KPIsKey-Performance-Indicators
  19. 19. Growth → Different KPIs have Different Importance (some are useful, some are not)
  20. 20. Example:
  21. 21. Useful Metric Examples • Cost Per Acquisition (CPA) • Return on Investment (ROI) • Lifetime Value (LTV) • Revenue • Leads/Customers • Conversion Rates • … Vanity Metric Examples • Impressions • Traffic • Click-Through-Rate (CTR) • Time on site • Social Likes • Blog Comments • …
  22. 22. Lets Talk about Growth Hacking
  23. 23. Growth hacking is a process of rapid experimentation across marketing channels, product development, sales segments, and other areas of the business to identify the most efficient ways to grow a business. - Wikipedia Growth Hacking
  24. 24. Some (Growth Hacking) Guiding Principles: 1. Find Shortcuts (& avoid waste) 2. KISS (Keep it simple. stupid.) 3. Build-Measure-Learn
  25. 25. Find Shortcuts (& Avoid Waste) (work smarter, not harder) Source: https://www.herolab.us/2017/07/shortcuts-sometimes-but-not-always/ Guiding Principle #1
  26. 26. The 80/20 Rule (aka The Pareto Principle)
  27. 27. 80%of effects come from 20% of causes
  28. 28. In Business… ~80% profits  20% customers ~80% complaints  20% customers ~80% industry  20% companies… …
  29. 29. In Marketing… 80% revenue  20% campaigns 80% leads  20% channels 80% website traffic  20% keywords 20% 20% 80% 80%
  30. 30. Image source: https://betterexplained.com/articles/understanding-the-pareto-principle-the-8020-rule/
  31. 31. 80% of your growth will come from 20% of your efforts & resources 20% 20% 80% 80%
  32. 32. Apply the 80/20 Rule wherever possible Map out all potential marketing activities. Hypothesize which will: • Require less time & resources • Result in more growth
  33. 33. The Customer Journey (aka Conversion Funnel)
  34. 34. LITTLE BY LITTLE A LITTLE BECOMES A LOT- Tanzanian proverb Compounding Growth
  35. 35. The Customer Journey (aka Conversion Funnel) +10% +10% +10% +10% = 46% revenue increase
  36. 36. The Customer Journey (aka Conversion Funnel) +20% +20% +20% +20% = 207% revenue increase
  37. 37. The Customer Journey (aka Conversion Funnel) +50% +50% +50% +50% = 506% revenue increase
  38. 38. Automate
  39. 39. Automate Reporting (example) Google Analytics Dashboard
  40. 40. Reporting (example) Moz Keyword Dashboard Automate
  41. 41. Consider using a marketing automation tool or a CRM Automate
  42. 42. Example: Evernote’s Onboarding Framework • Day 1 - Welcome Email. We will send you 5 tips. • Day 3 - Quick Tip #1. Main activation action. • Day 10 - Quick Tip #2. Secondary activation action. • Day 17 - Promotional Email #1. Go Premium. • Day 19 - Quick tip #3. Cool feature. • Day 27 - Quick Tip #4. Another cool feature. • Day 29 - Did you know? • Day 31 - Promotional Email #2. Go Premium. • Day 36 - Quick tip #5. Awesome feature.
  43. 43. Example: “If this then that” (IFTT) email automation
  44. 44. Spy on your competitors
  45. 45. • Estimated Spend? • Online Assets? • Channel Strategies? • Tactics? • Keywords? • USP & Messaging? • Conversion Funnel? • … Spy on your competitors
  46. 46. Copy efficiencies Exploit inefficiencies Spy on your competitors
  47. 47. Create a Lead MagnetGive them something GREAT for FREE
  48. 48. Create GREAT Content (and tell your story in a way that sticks)
  49. 49. It’s not about SEO, it’s about delivering value to your audience Create GREAT Content (and tell your story in a way that sticks)
  50. 50. Examples: • Blog posts • Social posts • Infographics • Videos • Whitepapers • Webinars • Podcasts • … Create GREAT Content (and tell your story in a way that sticks)
  51. 51. “Content is fire, Social Media is gasoline” -Jay Baer Share GREAT Content (and tell your story in a way that sticks)
  52. 52. Wrote a great blog post? • Consider outreach for guest post • Get it in front of influencers • Share it on Social Media • Share it via Email • Look for online discussions • Turn it into an infographic • … Prioritize & Leverage (marketing activities, content creation etc…)
  53. 53. Presenting at a Tradeshow? • Blog about it • Leverage Email • Run PPC campaign around it • Strategic Connections? follow on Twitter, connect on LinkedIn • … Prioritize & Leverage (marketing activities, content creation etc…)
  54. 54. Prioritize prospects over strangers with remarketing and email Prioritize & Leverage (marketing activities, content creation etc…)
  55. 55. Don’t spread yourself thin – focus on Traction channels and align your activities with resourcesPrioritize & Leverage (marketing activities, content creation etc…) Email Blog Example
  56. 56. KISS keep it simple. stupid. Guiding Principle #2
  57. 57. Choose One KPI Your north star
  58. 58. Why you need a North Star Metric? Different metrics will take you on different paths If you don't know where you're going you can’t know which way to go
  59. 59. North Star KPI Examples
  60. 60. North Star KPI?
  61. 61. Messages sent
  62. 62. North Star KPI?
  63. 63. Monthly Active Users
  64. 64. North Star KPI?
  65. 65. Nights Booked
  66. 66. North Star KPI = Traction
  67. 67. Evidence that your business is heading in the right direction Traction
  68. 68. Spend 50% of your time on product and 50% on traction The 50% Rule
  69. 69. What stands Between you and Traction?
  70. 70. You need to find the right Traction Channels
  71. 71. Finding Your Traction Channel/s: - Right person(a) - Right value proposition - Right time - Right place
  72. 72. Bullseye Channel Framework Based on the book: Traction by Gabriel Weinberg & Justin Mares
  73. 73. Choosing marketing channels • Blogs • Publicity • Unconventional PR • Search Engine Marketing • Search Engine Optimization • Social and Display Ads • Offline Ads • Content Marketing • Speaking Engagements • Email Marketing • Viral Marketing • Engineering as Marketing • Business Development • Sales • Affiliate Programs • Existing Platforms • Trade Shows • Offline Events • Community Building
  74. 74. Identifying 1. What’s possible? 2. What’s probable? 3. What’s working? The Bullseye Framework
  75. 75. Begin by targeting active seekers of your solution Start HYPER FOCUSED
  76. 76. “Gifts” “Anniversary Gifts” “15th Wedding Anniversary Crystal Gifts”
  77. 77. “Gifts” “Anniversary Gifts” “15th Wedding Anniversary Crystal Gifts” SEO PPC SEO + PPC
  78. 78. Make it Super Easy to buy
  79. 79. Make it Super Easy to buy
  80. 80. No nav bar or external links Prominent (very) yellow button Next time - buy from us with one click! Promotion Buy More!
  81. 81. Create Feedback Loops Guiding Principle #3
  82. 82. 2011Tech Marketing Landscape
  83. 83. ~150 Companies
  84. 84. 2017Tech Marketing Landscape
  85. 85. ~4,800 Companies
  86. 86. It’s not about Digital Marketing… It’s about Marketing in a Digital World.
  87. 87. Rapid Change • Technology • Market • Competitors • Tools • Customer needs • … Thriving in a Digital World demands the ability – and willingness to adapt.
  88. 88. Adaptation is key to gaining (and sustaining) Traction
  89. 89. Lean & Agile
  90. 90. A Brief History of Lean/Agile Manufacturing Software Development Process Development Marketing Development
  91. 91. Lean: The scientific method applied to Business
  92. 92. What is Lean?
  93. 93. What is Agile?
  94. 94. Agile is Source: Waterfall vs. Agile Development: How they differ and why it matters http://www.business-software.com/blog/waterfall-vs-agile-development-differ-matters/
  95. 95. Lean = optimizing the efficiency of a given process to eliminate waste Agile = increasing speed and adaptability, embracing change and feedback
  96. 96. Example… Not Lean/Agile Lean/Agile
  97. 97. Lean/Agile Marketing • Small experiments • Testing and data • Intimate customer tribes • Engagement + transparency vs Conventional Marketing • A few large bets • Opinions and conventions • Impersonal mass markets • Posturing and ego
  98. 98. You don’t know what you don’t know EVERYTHING IS A HYPOTHESIS (until proven otherwise)
  99. 99. The smallest marketing activity that will generate learning & traction for your business Run MVCs Minimum Viable Campaigns
  100. 100. Minimum Viable Campaigns (MVC’s) Purposes 1. Test a Marketing hypothesis with minimal resources 2. Accelerate learning 3. Reduce wasted marketing hours and budget 4. Get in front of customers as soon as possible 5. Base for other campaigns
  101. 101. Ask and observe your customersDiscover
  102. 102. Discover Go qualitative before you go quantitative
  103. 103. • Customer discovery • Product interaction • Market research • Competitor research • Keyword Research • Channel Research • … Discover
  104. 104. Plan “In preparing for battle, I have always found that plans are useless but planning is indispensable” - Dwight D. Eisenhower
  105. 105. There’s a lot you can do, hypothesize what you should do? Build a marketing plan around: 1. Expected results 2. Existing resources Plan
  106. 106. There’s a lot you can do, hypothesize what you should do? Realize your plan is most likely WRONG Plan
  107. 107. Explore New & Underutilized Channels Time Avg CPC Marketing Channel Cycle
  108. 108. “Weight Loss” or “Lose weight” ? Analyze & Optimize
  109. 109. “Weight Loss” converts better than “Lose weight” PPC  SEO feedback PPC can be turned on/off and teach you about keyword performance Analyze & Optimize
  110. 110. Analyze & Optimize
  111. 111. Analyze & Optimize
  112. 112. Analyze & Optimize
  113. 113. Analyze & Optimize
  114. 114. Pivot or Persevere (Frequent, rapid iterations) Zoom-In when things are working Zoom-Out when things are not…
  115. 115. Bonus #1: Some tactical Growth hacks
  116. 116. Some Content Hacks Content Ideas Quotes, Fill-in-the-blank, Polls, Behind the scenes, Statistics, Infographics, Ask for reviews and advice, fan photos, tips, industry news, coupons, expert insights, product Q&A’s etc…. Twitter • Tweets with images: +18% CTR +89% favorites +150% retweets • Add hashtags to your bio and your tweets • Follow your target audience, they may follow back
  117. 117. Perfect email headline formulas: • Who Else Wants [blank]? • The Secret of [blank] • Here is a Method That is Helping [blank] to [blank] • Little Known Ways to [blank] • Get Rid of [problem] Once and For All • Here’s a Quick Way to [solve a problem] • Now You Can Have [something desirable/great circumstance] Some Email Hacks
  118. 118. • Headlines with numbers are x2 more likely to generate clicks vs. “how to headlines” • Odd numbered headlines have a 20% better CTR than headlines with even numbers • Outbrain found that using [brackets] in a headline bumped CTR by 38% • Send THE SAME email with a different subject line to your non-opens. Some Email Hacks
  119. 119. Some PPC Hacks • Improving Google Quality Score from 1 to 10 can reduce CPCs by ~800% • Adding negative Keywords eliminates waste • Comparing CPM with CPCs • Comparing Search with Display • Targeting less competitive (long tail) keywords • Looking for underutilized channels (i.e Pinterest) and mediums (i.e video or VR) • Time of day, geotargeting and mobile bid adjustments
  120. 120. Bonus #2: Some useful Growth tools
  121. 121. A Tools to Eliminate Uncertainty1 Competitive Research Keyword/ Social Research Surveys
  122. 122. A Few Tools for Working Smarter Not Harder2 Social Design Automation CRMEmail
  123. 123. A Few Tools for Build-Measure-Learn3 Analytics A/B TestingLanding page creation
  124. 124. Bonus #3: Some useful Growth reading
  125. 125. Books • The Lean Startup by Eric Ries • Traction: How Any Startup Can Achieve Explosive Customer Growth by Gabriel Weinberg & Justin Mares • Hacking Marketing: Agile Practices to Make Marketing Smarter, Faster and More Innovative by Scott Brinker • Top 101 Growth Hacks by Aladdin Happy
  126. 126. Related Links • http://www.kpcb.com/internet-trends • http://kk.org/thetechnium/1000-true-fans/ • http://fourhourworkweek.com/2009/05/19/vanity-metrics-vs-actionable-metrics/ • http://sethgodin.typepad.com/seths_blog/2005/09/what_makes_an_i.html • http://kk.org/thetechnium/1000-true-fans/ • http://agilemarketingmanifesto.org/ • http://www.businessesgrow.com/2014/04/03/12-experts-define-key-performance-indicators-kpis/ • http://chiefmartec.com/2016/03/marketing-technology-landscape-supergraphic-2016/ • https://blog.kissmetrics.com/landing-page-design-infographic/ • https://en.wikipedia.org/wiki/Lean_software_development • http://mrdgcollins.blogspot.com/2014/05/developing-grit-and-growth-mindset.html • http://www.buzzstream.com/blog/a-crash-course-in-minimum-viable-marketing.html • http://quickbooks.intuit.com/r/marketing/startup-marketing-101-what-is-minimum-viable-marketing • http://www.onedesk.com/2013/07/lean-vs-agile/ • https://www.youtube.com/watch?v=hwQQFTr4WfM • https://www.appcues.com/blog/growth-strategies/ • https://www.youtube.com/watch?time_continue=4&v=raIUQP71SBU • https://innovative-entrepreneurship.de/2016/06/21/buzzword-traction/ • https://medium.com/@yegg/the-bullseye-framework-for-getting-traction-ef49d05bfd7e#.4w5uuzje8 • http://www.prometheusinternetmarketing.com/blog/internet-marketing-strategies-that-save-time/ • https://medium.com/@yegg/the-19-channels-you-can-use-to-get-traction-93c762d19339#.j9eftko1o • https://vertalab.com/blog/minimum-viable-products-of-famous-companies
  127. 127. Thanks! Shamir Ozery shamirozery@gmail.com Shamirozery.com linkedin.com/in/shamirozery @ozery (734) 834-3654

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