Product School San Francisco January 31 2015
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Transcript of Product School San Francisco January 31 2015
3twitter @meetsamir
The Growth Master
• Founder, CEO of DoRevolution and Growth
Mentor at 500Startups Silicon Valley,
Optimized $1B+ in Ads.
• Founder of SearchForce and pioneer to apply
Wall Street Analytics and Quantitative Trading
Techniques to Advertising for Portfolio
Optimization. Raised $10M+ in financing,
developed a Cross-Channel Optimization SaaS
Platform Based and took the company to
profitability.
• MBA in Brand Marketing from Cornell's Johnson
School of Business.
9twitter @meetsamir
Dave McClure Startup
Ecosystem
9
• 1,000 Bootstrap Startups ($0-10K)
• = 1,000 Parents/Garages/Basements @ $0-500/mo food+rent
• 300 Accelerator Startups ($10-100K)
• = 10-20 Accelerators @ $1-5M/yr, 20-50 co’s/yr
• 100 Seed-Stage Startups ($100K-$1M)
• = 5-10 Micro-VC Funds @ $10-30M/yr, 10-20 co’s/yr
• 30 Series A/B Startups ($1-10M)
• = 3-5 Early-Stage Funds @ $25-100M/yr, 5-10 co’s/yr
• 10 Later-Stage Companies ($10-100M)
• = 2-3 Later-Stage Funds @ $50-250M/yr, 3-5 co’s/yr
• 1-3 Mature Company IPOs ($100M+)
12twitter @meetsamir
Growth Trumps all Metrics
12
• High growth companies return 5X more to
share holders
• Growth predicts long-term success
• SuperGrowers (growth rate >60%) when
reached $100M were 8X more likely to
reach $1B than ones <20% growth rate
• Growth matters more than margin or cost
structure. Increases in revenue growth rates
drive 2X as much market cap gains
- McKinsey & Company
13twitter @meetsamir
Be Vanilla or a Gorilla
International Ice Cream Association the Top 10 flavours of ice cream in order are: vanilla,
chocolate, butter pecan, strawberry, neapolitan, chocolate chip, french vanilla and cookies ‘n’ cream.
Vanilla (#1) got approximately 28% of sales and chocolate (#2) got approximately 8% of sales.
The rest got 6% or less.
In this instance, being #1 makes you 350% better off than #2.
16twitter @meetsamir
Why is Growth Hard?
• Law of Vanilla Ice-cream
• Rapid Evolution of Platforms
• Increasing precision brings
complexity
• Speed & Machines
• Lots of Money at Stake
17twitter @meetsamir
Platforms 2.0Search, Social, Mobile,
Video, Messaging
$100M+ Users Available
~ Dave McClure
32twitter @meetsamir
Marketing Department vs
(Machines + Geniuses)
Do you have
DataStarson your team?
33twitter @meetsamir
Actions• Grow Fast or Die Slow
• Markets are hyper-competitive and inflated
• Companies are using Artificial Intelligence,
Math and Stats to gain competitive
advantage
• Companies are hiring the best and brightest
minds and paying billions for them. It’s the
TEAM stupid.
• Easy to spend money, hard to make money
• Bottom-line : Pay attention OR you will end
up in the dead pool.
38twitter @meetsamir
8 Qualities of World Class Growth
Teams• Possess Data-Driven Thinking
• Rapid Learners of Dynamically Changing
Marketing Channels and Growth Platforms
• Understand Growth Process
• Are Highly Product-Savvy
• Have a Hustle Mindset
• Possess a Cross-Disciplinary Skillset
• Connect Marketing to Product Development
• Possess Technical Acumen
• Hiring connections
43twitter @meetsamirTraffic Acquisition
Market Research & User Feedback
Email Marketing
Competitive Research Tools Sales Intelligence
Lead & Customer Acquisition
AB / Multivariate Testing
46twitter @meetsamir
Website.com
Emails &
widgets
Campaigns,
Contests
Biz DevAds, Lead Gen,
Subscriptions, etc
Homepage /
Landing Page
Product
Features
1. ACQUISITION
SEOSEM
Apps &
Widgets
Affiliates
PR Biz
Dev
Campaigns,
Contests
Direct, Tel,
TV
Social
NetworksBlogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features
~ Dave McClure, 500Startups
53twitter @meetsamir
Customer Lifecycle
• Acquisition: users come to the site from various channels
• Activation: users enjoy 1st visit: "happy" user experience
• Retention: users come back, visit site multiple times
• Referral: users like product enough to refer others
• Revenue: users conduct some monetization behavior
AARRR!
~ Dave McClure, 500Startups
55twitter @meetsamir
Experiment
• Objective
• Hypothesis
• Design
• Resource Estimation
• Results
• Findings
• Action Items
59twitter @meetsamirEstablish Objectives and Key
Results (OKRs)
• Set your objective based on what’s going to
have the greatest impact on your business
right away
• Establish a timeline for testing
• Set multiple Key Results (KRs) based on
level of difficulty:
KR 1 – 90% chance of success. You did a good job.
KR 2 – 50% chance of success. You did a great job.
KR 3 – 10% chance of success. You hit it out of the park!
60twitter @meetsamir
Example -- Growth via Adwords:
Goal: Lower their CPA for accredited investor signups via AdWords without a significant drop in conversion volume.
1. Focus on Search Network to drive lower CPA
2. Set timeline for 60 days
3. Three Key Results will be attempted:
• KR1 -- (90% change of success): Raise conversion volume by 10% by focusing on strategic bid modifications RLSA audience lists.
• KR2 – (50% chance of success): Lower CPA by 20% by limiting the keywords they buy to high performing terms only, and setting location bid modifications by income-tier.
• KR3 – (10% chance of success): Lower CPA by 20% and raise conversion volume by 10% by combining these two strategies.
67twitter @meetsamirTraffic Acquisition
Market Research & User Feedback
Email Marketing
Competitive Research Tools Sales Intelligence
Lead & Customer Acquisition
AB / Multivariate Testing
70twitter @meetsamir
Website.com
Emails &
widgets
Campaigns,
Contests
Biz DevAds, Lead Gen,
Subscriptions, etc
Homepage /
Landing Page
Product
Features
1. ACQUISITION
SEOSEM
Apps &
Widgets
Affiliates
PR Biz
Dev
Campaigns,
Contests
Direct, Tel,
TV
Social
NetworksBlogs
Domains
Emails &
Alerts
Blogs,
Content
System Events &
Time-based Features
~ Dave McClure
71twitter @meetsamir
Customer Lifecycle
• Acquisition: users come to the site from various channels
• Activation: users enjoy 1st visit: "happy" user experience
• Retention: users come back, visit site multiple times
• Referral: users like product enough to refer others
• Revenue: users conduct some monetization behaviorAARRR!
~ Dave McClure, 500Startups
79twitter @meetsamir
Experiment
• Objective
• Hypothesis
• Design
• Resource Estimation
• Results
• Findings
• Action Items
84twitter @meetsamirEstablish Objectives and Key
Results (OKRs)
• Set your objective based on what’s going to
have the greatest impact on your business
right away
• Establish a timeline for testing
• Set multiple Key Results (KRs) based on
level of difficulty:
KR 1 – 90% chance of success. You did a good job.
KR 2 – 50% chance of success. You did a great job.
KR 3 – 10% chance of success. You hit it out of the park!
85twitter @meetsamir
Example -- Growth via Adwords:
Goal: Lower their CPA for accredited investor signups via AdWords without a significant drop in conversion volume.
1. Focus on Search Network to drive lower CPA
2. Set timeline for 60 days
3. Three Key Results will be attempted:
• KR1 -- (90% change of success): Raise conversion volume by 10% by focusing on strategic bid modifications RLSA audience lists.
• KR2 – (50% chance of success): Lower CPA by 20% by limiting the keywords they buy to high performing terms only, and setting location bid modifications by income-tier.
• KR3 – (10% chance of success): Lower CPA by 20% and raise conversion volume by 10% by combining these two strategies.
89twitter @meetsamir
Samir [email protected]
President & CEO,
DoRevolution
Growth Mentor
@500Startups
Connect on Linkedin
Twitter@MeetSamir
94twitter @meetsamir
Hack#7 : Six Killers of Mobile
Sites
1. Unplayable videos
2. Faulty redirects
3. Smartphone-only 404s
4. App download interstitials
5. Irrelevant cross-linking
6. Page speed
99twitter @meetsamir
Hack#12 : Pay Using a Tweet
Provides users access to your content,
product, or service once they’ve tweeted or
posted about it
Impact on Growth:
• Invite people to pay with a post across
major social media channels
• Measure traffic, conversions, click and
geo data
100twitter @meetsamir
Hack# 13 : Nimble, Social Signals
Hack
Consolidates your contacts, email, social signals,
activities and follow-ups from everywhere, allowing
you to manage your relationships more effectively.
Impact on Growth:
• Easily manage contacts across multiple channels
• Tracks the complete history you and your contact
share—on every channel
104twitter @meetsamir
Hack#17: BuiltWith
DoubleClick, Twitter Ads, AdRoll, RocketFuel, MailChimp, AppNexus, GA, CloudFront etc
107twitter @meetsamir
Hack#20: ListBuilder
A free way to collect the email addresses of
users who visited your site.
Impact on Growth:
• Build your subscriber list and easily
download it as a CSV
• Integrates with other email services and
allows you to use your own custom email
form
110twitter @meetsamir
• Unplayable videos
• Faulty redirects
• Smartphone-only 404s
• App download interstitials
• Irrelevant cross-linking
• Page speed
Hack #23 : Mobile Site Killer
Hacks
111twitter @meetsamir
1. Mobile Bid Adjustments : Need to get on top
positions because of form factor, bid higher for
location based targeting.
2. Mobile Preferred Ads : Separate mobile/desktop,
Call directly or provide a promotion based on time.
Different URL for mobile.
3. Call Extensions: Ad scheduling based on call
center, Your own number or Google’s forwarding
number
4. On Site Call Conversions: Track calls from phone
number embedded on website when users need to
reach more before they buy
Hack #24 : Mobile SEM Hacks