Building your Startup Sales & Traction
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Presentation prepared for the Founder Institute session on Sales & Traction in Santiago, Chile. Talking about Traction, Lead Gen, Sales operations, Marketing stunts.
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Building your Startup Sales & Traction
- 1. SALES & TRACTION BUILDING YOUR BUSINESS Guillaume Balas / Co-founder of Tings & Tings Labs guillaume@tingslabs.com
- 2. REMEMBER?
- 4. THE PROBLEM IS THAT IT DOES NOT SAY HOW YOU WILL GET TRACTION AND SELL YOUR PRODUCT OR SERVICE…
- 6. SALES & TRACTION TRACTION 1.Revenues 2.Traffic 3.Registered Users 4.Active users/Clients 5.Partnerships 6.Profitability Source: https://www.quora.com/How-do-you-define-traction-for-a-start-up, http://www.entrepreneur.com/article/225902, Guillaume Balas M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 M13 M14 M15 M16 M17 M18 25% MoM 30% MoM 35% MoM 40% MoM Growth X
- 7. FOCUS ON MARKETING AND SALES TACTICS!
- 8. SALES & TRACTION “BUILD IT AND THEY WILL COME” ACQUISTION MISTAKE#1
- 9. SALES & TRACTION Source: http://www.forentrepreneurs.com/predictable-revenue/, Inbound Online Offline INBOUND LEADS MARKETING PERSONAS SECTOR REVENUES EMPLOYEES B2BB2C SALES NEW CUSTOMERS ACCOUNT EXECUTIVES INBOUND QUALIFIED LEADS MARKET RESPONSE REPS. Cold calling 2.0 OUTBOUND QUALIFIED LEADS SALES DEVELOPEMENT REPS. (SDR) CAMPAIGNS CONTENT WOM
- 10. SALES & TRACTION INBOUND QUALIFIED LEADS Source: http://www.forentrepreneurs.com/predictable-revenue/, PERSONAS SECTOR REVENUES EMPLOYEES Inbound Online Offline INBOUND LEADS MARKETING B2BB2C OUTBOUND QUALIFIED LEADS CAMPAIGNS SALES Cold calling 2.0 NEW CUSTOMERS ACCOUNT EXECUTIVES MARKET RESPONSE REPS. SALES DEVELOPEMENT REPS. (SDR) CONTENT WOMIt takes time, efforts and money to build a well-oiled repeatable and scalable marketing engine…
- 11. MARKETING STUNT
- 12. SALES & TRACTION Source: http://fundersandfounders.com/traction-how-successful-startups-first-got-users-infographic/ , http://www.businessinsider.com/10-brilliant-marketing-stunts- that-put-startups-on-the-map-2014-8#tinder-visited-sororities-and-their-partnering-fraternities-on-campus-and-devised-a-master-plan-to-get-tons-of-signups-1 Paul Graham mentioned Reddit in one of his essays BLOGGER REVIEW Paul English made a deal with AOL with only a 10-page slide deck and a 2-person team to show. Kayak launched with 15,000 daily searches DEAL WITH A BIG CO. AirBnB massively replied to listers of rental property, offering them to list on AirBnb. CRAIGSLIST POSTS Noah Kagan built up a mailing of 20,000 subscribers. When Mint launched, they blasted the news out to 20k interested people. MAILING LIST Foursquare launched at SXSW which kicked off their growth. They added around 4k users that month. After that they began aggressively adding new cities. DEMO AT TECH SHOW Dollar Shave Club blew up in 2012 with a launch video that both echoed Old Spice's popular ads. The video, staring CEO Michael Dubin, has over 15 million view. VIRAL VIDEO Josh Kopelman paid 100K to a small town for it to be named half.com, which gained him national media coverage. PUBLICITY STUNTS
- 13. SALES & TRACTION DOLLARSHAVECLUB.COM Our Blades Are F***ing Great https://www.youtube.com/watch?v=ZUG9qYTJMsI
- 14. COLD CALLING 2.0
- 15. SALES & TRACTION Source: http://www.forentrepreneurs.com/predictable-revenue/,
- 16. WHAT'S NEXT? NOW YOU HAVE A BUNCH OF LEADS…
- 17. SALES & TRACTION “A GOOD PRODUCT SELLS BY ITSELF” MISTAKE#2
- 18. SALES & TRACTION “SELL” DEFINITION 1.give or hand over (something) in exchange for money. 2.persuade someone of the merits of. synonyms: persuade someone to accept, convince someone of the merits of, talk someone into, bring someone round to, win someone over to, get acceptance for, win approval for, get support for, get across, promote 3.(archaic) trick or deceive (someone). Source: https://www.google.cl/webhp?sourceid=chrome-instant&rlz=1C5CHFA_enES564ES564&ion=1&espv=2&ie=UTF-8#q=sell%20definition
- 19. LET’S GO & !
- 20. SALES & TRACTION GLENGARRY GLEN ROSS adapted by David Mamet, directed by James Foley MISTAKE#3 https://vimeo.com/14305226
- 22. SALES & TRACTION MAKE SURE TO: Source: http://www.slideshare.net/thorleifhallund/the-art-of-selling-value CREATE VALUEENGAGE PROSPECTS LEVERAGE COGNITIVE BIAS with a personalized, consultative approach. Create a relationship with your prospects. show you can create more value than your competitors and focus on showing you create greater outcomes get an MBA from Eminem… Source: http://www.slideshare.net/mcpheats/23-killer-questions-to-use- with-your-prospects?
- 23. SALES & TRACTION COGNITIVE BIAS & DEFEATING YOUR COMPETITOR 1.In-group Bias 2.Herd Behavior 3.Availability Cascade 4.Distinction Bias or Outgroup Bias 5.Ambiguity Bias 6.Credential Bias 7.Ingroup / Outgroup 8.Basic Direct Marketing: List The Objections Up Front 9.Humor Bias 10.Extreme Outgroup 11.Credential bias (again) 12.Scarcity Source: James Altucher, http://techcrunch.com/2014/01/18/how-to-get-an-mba-from-eminem/ https://www.youtube.com/watch?v=gatNLacOjC8
- 25. SALES & TRACTION ▸ 48% of sales people never follow up with a prospect ▸ 25% of sales people make a second contact and stop ▸ 12% of sales people only make three contacts and stop ▸ ONLY 10% of sales people make more than three contacts ▸ 2% of sales are made on the first contact ▸ 3% of sales are made on the second contact ▸ 5% of sales are made on the third contact ▸ 10% of sales are made on the fourth contact ▸ 80% of sales are made on the fifth to twelfth contact OH AND… MAKE SURE TO FOLLOW UP !!! Source: https://www.salesgravy.com/sales-articles/closing-techniques/Following-Up-with-Prospects-90-Percent-Never-Do
- 27. SALES & TRACTION SIX FACTORS TO INCREASE CONVERSION RATE ▸ Value Proposition provides the potential for conversion rate ▸ Conversion drivers: • Relevance • Clarity • Urgency ▸ Conversion Inhibitors: • Distraction • Anxiety Source: Wider Funnel, http://www.widerfunnel.com/the-six-landing-page-conversion-rate-factors/
- 28. NEGOTIATIONS
- 29. B2B
- 30. B2C
- 31. SALES & TRACTION = “OBSTACLES DON’T HAVE TO STOP YOU. IF YOU RUN INTO A WALL, DON’T TURN AROUND AND GIVE UP. FIGURE OUT HOW TO CLIMB IT, GO THROUGH IT, OR WORK AROUND IT.” Michael Jordan
- 32. SALES & TRACTION ALL THE ROADS LEAD TO ROME Source: Philipp Schmitt, Benedikt Groß, and Raphael Reimann, Wired, http://www.wired.com/2015/12/here-are-all-the-roads-that-lead-to-rome/#slide-1
- 33. SALES & TRACTION ACTIVATION ACQUISTION RETENTION REVENUE REFERRAL Source: Dave McClure, AARRR Metrics for Pirates How do users find you? How do you find users? Do users have a first great experience? Do users come back? How do you make money? Do users tell others?
- 34. THANK YOU !GUILLAUME BALAS - GUILLAUME@TINGSLABS.COM
- 36. SALES & TRACTION ▸ The Evolution of the Sales & Marketing Relationship ▸ The Company Changing Magic of Sales Operations Done Right ▸ Predictable Revenue ▸ Enterprise 2.0 - The Science of Inside Sales ▸ SaaS Best Practices - SaaS Inside Sales Benchmark Report ▸ A Blueprint from the Woman who Helped Adroll Double its Sales force and sales ▸ 10 Brilliant Marketing Stunts that Put Startups on the Map ▸ Evolving New Sales Model ▸ The Evolution of the Sales Model ▸ The Art of Selling Value ▸ How to get an MBA from Eminem ▸ Five Signs You're Losing a Sale -- And How to Save It ▸ Following Up with Prospects - 90% Never Do ▸ TOOLS ▸ http://www.slideshare.net/mcpheats/23-killer-questions-to-use-with-your-prospects? [Questions for prospects] ▸ https://www.fullcontact.com/blog/sales-prospecting-automation/ [Prospection Automation] ▸ http://firstround.com/review/building-your-best-sales-deck-starts-here/ [Sales Deck Optimization] ▸ http://firstround.com/review/Your-Product-Demos-Suck-Because-Theyre-Focused-on-Your-Product/ [Product Demo]
- 37. SALES & TRACTION