Advanced Growth Hacking for startups - 4 big conundrums
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Advanced growth hacking for startups. The big unanswered questions. My slides from the DFJ CMO / growth round table
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Advanced Growth Hacking for startups - 4 big conundrums
- 1. You are here Getting to traction Advanced growth hacking for startups! ! 4 conundrums @nilanp
- 2. How much should I burn ?
- 3. What are your scaling levers ?
- 4. How do I deal with competition ?
- 5. How do I build a product with acquisition built in ?
- 7. Lets start…
- 8. How much should I burn ?
- 11. Strong intent SEM! SEO foundation! ! Display! Move to LTV model! Broader SEM and SEO! TV! Offline! Multichannel attribution! !
- 12. Discussion points 1. Do you agree with the model ? Have you explicitly followed it ?! 2. The big downside of the model is that it doesn’t drive customer centricity - which can impact repeat rates and a path to profitability!
- 13. How much should I burn ?
- 14. 3 models!
- 16. Burn Life Time Value (LTV)!
- 17. Burn equity!
- 18. Discussion point 1. Which model do you employ ?! 2. How much do you burn and why ?! 3. Burning LifeTime Value is much more difficult that it sounds, modelling LTV on sparse data is hard, modelling cash-flow is hard. Do you model Life Time Revenue ? or Life Time Contribution ?! 4. What are the leading indicators of LTV that you track ?! 5. What is the right data architecture to do progressively evolve this ?
- 19. What are your scaling levers ?
- 20. What are your scaling levers ? Improve! conversion! rate Improve! margin Grow supply Launch new markets Launch new channels Optimise channel performance
- 21. Discussion points 1. Almost always in every business I’ve been involved in the single biggest driver of growth within a market has been supply - do you agree (Businesses normally find a couple of scaling channels - and optimise them (e.g. SEO and SEM) - then focus on acquiring supply to grow within a market)? ! 2. If this is the case - how do you separate this from marketing driven growth ? How do you explicitly make this clear within the business KPIs ?! 3. How do you prioritise a dev queue over market expansion, supply growth, new channel testing and optimisation ?! 4. I used to say that a performance marketing powered business grew at the rate it grew conversion rate - but these days I see conversion rate as an optimisation and a competitive benchmark of your product - not a scaling lever of growth - do you agree ?
- 24. CPA LTV
- 28. Discussion points 1. Do you agree ? That CPA and LTV are the most competitive metrics within the business ?! 2. Do you agree that conversion rate and repeat rate demonstrate how better your product offering is vs the competition?! 3. What other metrics do you track to understand how good your competitors product is ?!
- 29. How to build a product with acquisition built in
- 30. Some examples of products with acquisition built in
- 31. Products with acquisition built in Channel Product SEO LinkedIn Virality Facebook, LinkedIn SEM booking.com Social AirBnB
- 32. Recently I’ve realised that your product and traffic are linked in a more fundamental way
- 33. There is a symbiotic relationship between product and traffic
- 34. Not only in landing pages, but also in conversion rate optimisation and product
- 35. If grow an audience from SEM, your product will iterate towards converting high intent commoditised traffic
- 36. If grow an audience from facebook, social validation throughout your product will be key
- 37. Traffic and product teams cannot be siloed
- 38. Discussion points 1. There is a symbiotic relationship between product and traffic! 2. If you explicitly set your self the goal of increasing conversion rate, or revenue per customer, this will be highly dependent on the traffic stream you have built the business on! 3. This stretches beyond landing page optimisation to the core product - the products that sell, and the UX you need to develop to sell them is dependent on - hence separating traffic from product is not a good idea !
- 39. Beyond the rocket internet model
- 40. The future of growth
- 41. 2 steps
- 42. 1. Build a great product
- 43. 2. Encourage your customers to find more customers
- 45. Building a viral loop
- 46. Building a viral loop Customers find customers Conversion to sign up Conversion to repeat / premium
- 47. The levers of viral driven business:! ! 1. Viral mechanics! 2. NPS
- 48. Discussion points 1. Is this ever really an option ? Or only a route for category leaders ?! 2. How do you layer this on post launch ? Who has done this ?! 3. What is the direction this pushes product in - does it support the same ends as performance marketing ?
- 50. How much should I burn ?
- 51. What are your scaling levers ?
- 53. How to build a product with acquisition built in