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Market Validation Hacks
•1 Key Stat about Death•Survey Says…
•Market Definition
Thesis“Validate your idea and prove
product/market fit online because it’s fast and easy.”
Key Points CoveredWho I am and why I’m qualified to teach Customer Profile & Online TargetingValidating Ideas through MessagingIterate with Google Consumer SurveysOffer Structure & Landing PagesLive Test Conversion with AdWordsMeasure KPI’s with Analytics
Who is AaronAuthor, Speaker, Owner, Father
•Started as a mortgage telemarketer, 2006.
•Direct Response agency executive•3 other startups, one sold•Went full time with my startup in 2012•Philosophy: Knowledge is power.•Motivation:
–Making ideas reality.–Paying for college!
What is SearcherMagnet
•Direct Response NOT “Branding”•A Lean Approach to Marketing
PART 1: Idea Validation1.Definition of A Persona2.Buyer Persona Example3.Use of Persona4.Developing a Profile5.The Lean Startup Method6.Leveraging Early
Adopters7.Culture Summit Example8.Crucial Conversations
Definition of PersonaQ. What is a customer persona? A. “fictional, generalized representations of your ideal customers”
The SearcherMagnet Buyer
•Business Owner, $500K-$10M Rev, financial services, B2B or ecommerce
•Believes customer uses internet•Demographics: 25-55 years old, single
male
Use a Persona To...•Develop marketing strategies
such as product packaging, advertisements, business location
and pricing
Profile Development•Use an online demographic tool like Quantcast to research audience data on websites
Profile Development•Other demographic tools include alexa.com and the Google Display Planner
•Form hypothesis about your customer and their online habits
Lean Startup Method•Build, Measure, Learn •Guy Kawasaki
Leveraging Early Adopters
•Have pain•Willing to try anything•Often are trying to solve themselves
Culture Summit Example
•Vision & Hypothesis•Spoke to 10 Founders in Person•What are your top 3 challenges? How are you solving? Would you Buy? Why or Not?
Crucial Conversation•Hypothesis was Wrong. Founders Too Busy
•New Decisionmaker - HR, Operations•Linkedin Inmail - 25% Conversion rate!•Asked, “Where can I find people like you?”
•Found a secret message board.
PART 2: Product/Market Fit1.Google Consumer
Surveys2.Actual Example3.Offer Structure
4. Landing Page Tools5. AdWords Strategy6. AdWords Execution7. Analytics KPI’s8. Measuring Success
Google Consumer Surveys
•Do after getting into the field•Or if you lack access to decisionmaker•As low as .10c per response with a $75 credit to sign up
•Don’t assume you know what your customer wants!
Actual Example- AFKW•Targeted job titles of Owner, Entrepreneur
•Screened for “Belief in Internet”•Definitive answer on tagline and message
Offer Structure•Common Types:
–Email (Weak)–Lead or Survey (Good)–Free Trial or Download (Good)–Purchase (Best)
Landing Page Tips & Tools
•A “House” For your offer•Tipping point of pre-sale info different for every industry.
•Why not to use wordpress / Website Tonite
•Sales Copy #1 Important thing
Lean AdWords Strategy
•Why AdWords for this task•Not ideal for B2B (limited volume)•Budget, it’s easy to spend a lot of $$$•Bids, it’s easy to overspend per click•Watch out for low CTR
Lean AdWords Execution
•Pain Point based Keywords •Ad Copywriting- "Simplicity is the ultimate sophistication." – Leonardo Da Vinci
•Ignore bells and whistles like Retargeting, In-App ads, Youtube, Display Network, Shopping Feeds etc
•#1 Mistake: No conversion tracking on your Landing Page.
Analytics KPI’s•Bounce Rate & Time on Site - is traffic “sticky”
•Conversion rate - over time and vs. organic, social etc channels
•Conversion assists & lags - what influences purchase and how long is buying cycle.
Q&A
Who is your Decision-maker?How will you reach them?
How do you validate your offer?And with what tools?
Special Offer Today Only
1.Pre-order A Few Key Words for
the special price of $97 $67
2. Receive a complimentary autographed copy of my recent
book!Our viewers online can get the discount at
http://sarta.afewkeywords.com until midnight 8/27/2015, thereafter pay normal
price