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Sean Ellis - Boston 12 16 09
- 1. Unlocking Your Startup’s Growth Sean Ellis Boston, MA December 16, 2009
- 2. Startup Risk & Upside = Customers Traction is tough Acquiring at scale even tougher Where do you start? Hundreds of things you “could do” Most early marketing effort wasted 2 startup-marketing.com
- 3. Road to IPOs: What I Thought Mattered? Apply engineering to marketing Focus on right metrics & optimize Understand users and use cases Early execution is most critical 3 startup-marketing.com
- 4. My Key Focus Now Critical Zone Critical Zone IPOs Growth Stage Then light advising in growth stage 4 startup-marketing.com
- 5. Customer Development Sequence 5 startup-marketing.com
- 6. Growth Starts with Right Product 6 startup-marketing.com
- 7. What is Product/Market Fit? People want/need your product And they represent large enough market Differentiated from alternatives Users will pay for your product Or you are advertising supported 7 startup-marketing.com
- 8. “Focus obsessively on getting to product/market fit.” Marc Andreessen Founder Netscape, Opsware, Ning 8 startup-marketing.com
- 9. PayPal’s Quest for P/M Fit $200K seed funding - cryptography “No one really needed it” Max Levchin $4.5M VC funding - PDA payments People preferred web demo (100X users) $1.5B sale to eBay – web payments 9 startup-marketing.com
- 10. Survey Your Product/Market Fit Free template at Survey.io 10 startup-marketing.com
- 11. Key Product/Market Fit Question “How would you feel if you could no longer use Product?” 11 startup-marketing.com
- 12. Transition to Growth 12 startup-marketing.com
- 13. Race to Scale Focus on speed rather than short-term burn Long-term burn will be less with speed Difficult after “low burn” VC praise Requires major shift in culture 13 startup-marketing.com
- 14. Transition to Growth Track/report right metrics Positioning (based on perceived value) Start recruiting head of marketing Viable economics (business model) Scalable growth strategy 14 startup-marketing.com
- 15. Hiring/Managing VP Marketing Hire marketer with founder DNA CEO & VP Marketing form partnership CEO shouldn’t abdicate startup’s fate Goal = Scalable, profitable channels Insist on perfect execution 15 startup-marketing.com
- 16. Optimize Before Growing Landing pages 12% 13% 8% … 16 startup-marketing.com
- 17. 2. Optimize Funnel Home Page 200,000 100000 50% Signup 50000 100,000 12.5& 12.5% Path 2 Path 1 25000 X000 25000 X% Path 1 (step 2) X000 X00 X% X% X% X% Paid Paid Free Free X000 X00 X00 X000 17 startup-marketing.com
- 18. Scalable Growth Now Possible 18 startup-marketing.com
- 19. Driving/Managing Growth Budget to maximize positive ROI spend 19 startup-marketing.com
- 20. Test from Free to Paid Channels 20 startup-marketing.com
- 21. Improve Lifetime Value Customer retention is critical Cross/up sell additional products This expands profitable channels 21 startup-marketing.com
- 22. Complete Startup Pyramid Growth Optimize Economics Positioning Product/Market Fit Twitter: @seanellis Blog: startup-marketing.com
Editor's Notes
- Startup success today becoming less mysterious
- Talk about execution when you are below PM fit and how we’ve fixed this…