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Getting to traction - Growth Hacking for startups - my presentation from Google Campus. This presnetation covers high level strategy and practical insights on 5 steps to get to traction: - Focus - Delight your customers - Performance marketing - Viral marketing - Hustling
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Getting to traction
Objective1. Talk through where to focus!2. Give practical advice on how to
kick start growth
Characteristics of successful founders
1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!
!
Characteristics of successful founders
1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!
!
1. Focus!!
2. Improving your unit economics!
!
3. Performance marketing!
!
4. Viral growth!
5. Hustle!!
Practical adviceFocus Improving unit economics Performance marketing (or Viral growth) Hustle ____________________ Gets you to traction
+
@nilanp
But first introductions…
@nilanp
sAverage price of CHF49 per guest per night
4,000,000 nights…
@nilanp Vice President Growth HouseTrip.com
@nilanp
Startups
@nilanp
Startups Tequila
@nilanp
Back to traction
Revenue
Revenue
Revenue
Death Zone
Revenue
What does traction feel like ?
GROWTH
Revenue
The anatomy of traction
The anatomy of traction
1. Identified a scalable acquisition channel!
2. Improved unit economics support scaling
Product - market fit
1. Your earning enough per customer!
2. To support acquiring customers in a scalable channel
Product - market fit
1. Your earning enough per customer!
2. To support acquiring customers in a scalable channel
1. Your earning enough per customer!
2. To support acquiring customers in a scalable channel
Objective
1. Talk through where to focus!2. Give practical advice on how to
kick start growth
Practical adviceFocus A great product Performance marketing (or Viral growth) Hustle ____________________ Traction
+
@nilanp
Characteristics of successful founders
1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!
!
Characteristics of successful founders
1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!
!
1. Focus!!
Practical adviceCharacteristics of
successful founders
@nilanp
Practical adviceCharacteristics of
successful founders
1. Empathy for the end consumer 2. Belief 3. Knowing when to give up 4. Focus
@nilanp
Practical adviceCharacteristics of
successful founders
1. Empathy for the end consumer 2. Belief 3. Knowing when to give up 4. Focus
@nilanp
Practical adviceFocussing to get to traction means…
1. Pick one lever 2. Define a prioritising metric 3. Prioritise features and
activities 4. Execute
@nilanp
Practical adviceFocus on
1. Getting good unit economics 2. Systemically finding a scalable
acquisition channel 1. Performance marketing 2. Viral 3. Hustling
3. Execute
@nilanp
2. Improving your unit economics!
!
Practical adviceImproving your unit economics means…
@nilanp
Practical advice
…Building a great product
@nilanp
Improving your unit economics means…
Practical adviceBuilding a great product means…
…Delighting your customers
@nilanp
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
What does improving your unit economics mean ?
@nilanp
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
Improve unit economics1. eCommerce businesses
1. Margin 2. Conversion rate
2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium / added service
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
Improve unit economics1. eCommerce businesses
1. Margin 2. Conversion rate
2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium
Why is this important pre-traction?
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
Improve unit economics1. eCommerce businesses
1. Margin 2. Conversion rate
2. Apps / Freemium 1. Engagement 2. Usage frequency 3. Sign up to premium
Increase the amount you can spend to acquire a
customer
Practical adviceBuilding a great
product
… some practical advice on how to do this
@nilanp
Practical adviceBuilding a great
product1. Look at cohorts of user behaviour 2. Build micro conversion events 3. Introduce features to transition
users from passive to active 4. Ruthlessly focus on the parts of
the funnel where you can have the most impact
5. But above all…
Practical adviceFocus on single
userscredit: Klinger.io
Practical adviceDo this and you
will…
1. Improve your unit economics 2. Earn more per customer 3. Delight your customers
@nilanp
3. Performance marketing!
!
3. Performance marketing!
!(Now you’ve got working unit economics - focus on traffic)
Money in Money out
Money in < Money out
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
What’s your objective with performance marketing ?
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
What’s your objective with performance marketing ?
Find a scalable channel
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
What’s a scalable channel ?
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
What’s a scalable channel ?
A scalable channel is one that if you focus on will enable you take at least 20% of your target market
Improve unit economics
1. eCommerce businesses!1. Margin!2. Conversion rate!
2. Apps / Freemium!1. Engagement!2. Usage frequency!3. Sign up to premium
What’s scalable volume ?
1. Impression volume 2. High intent traffic 3. Relevant targeting
Do the maths !
The performance marketing landscape
Kwaja slide
• Where to focus ?
Kwaja slide
• Where to focus ?Where to start ?
What I need…
Targeting
Intent
Relevance
Google Everything!else
Practical advicePerformance
marketing in detail
1. Google 2. Facebook 3. Other stuff
@nilanp
Google - How it works
Practical adviceWhen to trial
Google ?
1. When you have a product with better unit economics than the incumbent
2. People already search for your product on Google
Practical adviceHow to set up your
first campaign
1. When you have a product with better unit economics than the incumbent
2. People already search for your product on Google
Practical adviceGoogle hacks
@nilanp
Hacking Google - off topic
1. On and off topic traffic!2. Gmail ads
Hacking Google - off topic
1. On and off topic traffic!2. Gmail ads
Gmail ads
Hacking Google
1. On and off topic traffic!2. Gmail ads
Off topic adsOff topic targeting
Hacking Google
1. On and off topic traffic!2. Gmail ads
Hacking Google
1. On and off topic traffic!2. Gmail ads
Practical advice2. Facebook
@nilanp
Practical adviceWhen to trial Facebook ?
1. No volume on Google 2. You can target an audience
for your product on Facebook
Practical adviceWhen to trial Facebook ?
1. No volume on Google 2. You can develop an
audience for your product on Facebook
Practical adviceFacebook hacks
@nilanp
Hacking Facebook
1. Similar audiences!2. Intent targetting:!
Hacking Facebook
1. Similar audiences!2. Intent targetting:!
Similar audiences
Behavioural targeting
Practical adviceContent marketing
on facebook1. Build an audience 2. Engage customers in a
conversation about your product / industry
3. Promote unique content that ties hand in glove with your product
4. Support positioning
Practical adviceContent marketing
on facebook1. Build an audience 2. Engage customers in a
conversation about your product / industry
3. Promote unique content that ties hand in glove with your product
4. Support positioning
Not always scalable
Practical advice
Performance marketing growth
hacks
1. Google 2. Facebook 3. Other stuff
@nilanp
Practical advice
Performance marketing growth
hacks
1. Google 2. Facebook 3. Other stuff
@nilanp
Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram
Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram
Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram
Retargetting
1. Email!2. Social!
Practical advicePerformance
marketing summary
1. Performance marketing can get you to scale
2. Focus on scalable channels 3. Look for unorthodox routes
to market@nilanp
4. Viral growth!
Practical advicePre-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
Building a viral loop
Building a viral loop
Customers find customers
Conversion to sign up
Conversion to repeat / premium
Practical adviceVirality
1. Model virality 2. Give away value 3. Identify the right moment
to strike 4. Optimise
@nilanp
Practical adviceModelling virality
Viral co-efficient <1credit: Andrew Chen / Rahul Vohra
Practical adviceModelling virality
Viral co-efficient >1credit: Andrew Chen / Rahul Vohra
Practical adviceModelling virality
Add in carrying capacity Add in retentioncredit: Andrew Chen / Rahul Vohra
Practical adviceModelling virality
Decrease retention to 50%credit: Andrew Chen / Rahul Vohra
Practical adviceVirality
1. Model virality 2. Give away value 3. Identify the right moment
to strike 4. Optimise
@nilanp
Focus!!
Give away value!NOT money!
Focus!!
=
Focus!!
=
Focus!!
=
Practical adviceVirality
1. Model virality 2. Give away value 3. Identify the right moment
to strike 4. Optimise
@nilanp
Practical adviceModel engagement
engagement
time
Practical adviceModel engagement
engagement
time
Practical adviceModel engagement
engagement
time
5. Model and optimise!!
Optimise!
Practical adviceVirality
1. Modelling virality 2. Give away value 3. Curves of engagement 4. Model and optimise
@nilanp
Hustle!!
5. Hustle!!
1. Talk to your customers
1. Talk to your customers
Talk to customers!
2. Find more customers!
2. Find more customers!
Find more customers!
Guerilla marketing!
3. Testathon!4. !
4. UserTest!!
Conferences!!
Objective1. Talk through where to focus!2. Give practical advice on how to
kick start growth
Characteristics of successful founders
1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!
!
Characteristics of successful founders
1. Empathy for the end consumer!2. Belief !3. Knowing when to give up!4. Focus!
!
1. Focus!!
2. Improving your unit economics!
!
3. Performance marketing!
!
4. Viral growth!
5. Hustle!!
Practical adviceFocus Improving unit economics Performance marketing (or Viral growth) Hustle ____________________ Traction
+
@nilanp
You are here
Getting to traction
@nilanp