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AIA2019 - Gilles de Glerck - Zero-Budget User Acquisition

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ZERO-BUDGET
USER ACQUISTION

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MARKET FITPROBLEM FIT
SOLUTION FIT GROWTH & SCALEDISCOVERY
LAUNCHING STARTUPS

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GET YOUR
STORY STRAIGHT
‣ no tactic will work if your messaging doesn’t resonate
‣ great messaging helps people tell other...

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AIA2019 - Gilles de Glerck - Zero-Budget User Acquisition

  1. 1. ZERO-BUDGET USER ACQUISTION
  2. 2. MARKET FITPROBLEM FIT SOLUTION FIT GROWTH & SCALEDISCOVERY LAUNCHING STARTUPS
  3. 3. GET YOUR STORY STRAIGHT ‣ no tactic will work if your messaging doesn’t resonate ‣ great messaging helps people tell other people about your product SIMPLE.
 It’s easy to understand by prospective customers. COMPELLING. It describes something that is interesting or desirable to them. SPECIFIC. It captures what your product does, not an overly abstract statement of it. DIFFERENTIATED. It highlights what makes your product unique.
  4. 4. A quality of your product matched with a customer benefit. “HERE’S WHAT OUR PRODUCT CAN DO.” “HERE’S WHAT YOU CAN DO WITH OUR PRODUCT.” VS. VALUE PROPOSITION
  5. 5. A quality of your product matched with a customer benefit. IMAGINE YOUR PRODUCT IS FAST Benefit: Speed — Get work done faster. Benefit: Higher output — Get more work done. Benefit: Higher efficiency — Save yourself time. VALUE PROPOSITION
  6. 6. A quality of your product matched with a customer benefit. IMAGINE YOUR PRODUCT IS SECURE Benefit: Privacy — Only friends can see your messages. Benefit: Protection — If your phone gets stolen, your data is safe. VALUE PROPOSITION
  7. 7. VALUE PROPOSITION GENERATION example: livechat app FIRST, DESCRIBE HOW LIFE IS BAD WHEN PEOPLE DON’T HAVE YOUR PRODUCT THEN, DESCRIBE HOW LIFE GETS BETTER WHEN THEY DO HAVE YOUR PRODUCT NOW, ALIGN CUSTOMER BENEFITS TO EACH OF YOUR TARGET PERSONAS Visitors leave the site
 — Lost sales opportunities Visitors read FAQs
 — No one reads them Visitors email support
 — Most don't bother Help more visitors get more questions answered by immediately handling objections via live chat. Address objections proactively so you can better satisfy visitors and close more deals. Head of marketing
 —  Conversion rates
 —  Traffic volume Chief revenue officer
 —  Reduce churn
 —  Increase ARPU/LTV Head of sales
 —  Increase qualified leads
 —  Qualify leads accurately
  8. 8. VALUE PROPOSITION GENERATION GOOD EXAMPLES Tired of switching between accounts? Get Shift. Visually design and develop websites from scratch. No coding. Groceries delivered in 1 hour. Say goodbye to traffic, parking, and long lines. Start accepting payments on your website in one click. No coding knowledge required. “When I write an advertisement, I don't want you to tell me that you find it 'creative.' I want you to find it so interesting that you buy the product.” DAVID OGILVY, GODFATHER OF ADVERTISING WHERE TO USE VALUE PROPS —  Landing pages — Ads — Emails/Outreach DMs — Sales calls/meetings (You get the idea) Anywhere you talk about your product. WRITING OUT VALUE PROPS —  Iterate to get to the best version — Ask insiders and outsiders for feedback — Remove unnecessary words — Avoid abstract clichés
 (powerful, incredible, revolutionary etc.) 
 Say a lot with few words.
  9. 9. USER ACQUISITION GET AS MANY POTENTIAL USERS AS POSSIBLE TO LEARN AND TALK ABOUT YOUR STARTUP STAGE 1 STAGE 2 CLAIM THOUGHT LEADERSHIP BY BUILDING AN AUDIENCE YOU CAN MARKET AND SELL TO STAGE 3 EXPERIMENT YOUR WAY TO SCALABLE PRODUCT-CHANNEL FIT (GET TO PRODUCT-MARKET FIT FIRST) “DO THE RIGHT THINGS RIGHT”
  10. 10. USER ACQUISITION — STAGE 1 GET AS MANY POTENTIAL USERS AS POSSIBLE TO LEARN AND TALK ABOUT YOUR STARTUP
  11. 11. RECRUIT USERS MANUALLY — OFFLINE EDITION events, coffee bars, the street — wherever your audience is WIN THEM OVER ONE-BY-ONE BE RUTHLESS Stripe is one of accelerator Y Combinator most successful startups. YC co-founder Paul Graham remembers: Most founders ask "Will you try our beta?" and if the answer is yes, they say "Great, we'll send you a link." But the Collison brothers weren't going to wait. When anyone agreed to try Stripe they'd say "Right then, give me your laptop" and set them up on the spot. Today, Airbnb is valued at $31 billion. 8 years ago, the picture was different. Founders Brian Chesky & Joe Gebbia would commute from California to as far as New York to recruit new hosts and improve the listings of existing ones. “Knock knock. Hello. Hey, this is Brian, Joe, we’re the founders of Airbnb and we just want to meet you.”
  12. 12. RECRUIT USERS MANUALLY — ONLINE EDITION use email and direct messages to start conversations and build relations “In the early days, I used to literally email people and ask them to use Intercom. If you look at the first 200 emails I sent from my Intercom email, almost all of them were along the lines of, “Would you like to try Intercom?” For a customer we really wanted, I’d mock up a screenshot showing how we’d nail a reasonable use case for their product. That helped people understand both what we could do for them and what it would look like in their product.” DES TRAYNOR, CO-FOUNDER INTERCOM
  13. 13. RECRUIT USERS MANUALLY — HOW TO NAIL OUTREACH what to write KNOW WHO YOU’RE TALKING TO if you’re an online design testing platform, don’t pitch a designer the same value proposition as you’d pitch a marketer. Align your pitch to specific customer profiles. BE CONTEXTUAL — GIVE THEM A REASON TO CARE • remind them where you know each other from (event, school, LinkedIn, intro) • describe a relevant bad situation and show or offer help • invite them as early users - make them feel ‘special’ • invite them to an exclusive event you’re organising (or as speaker) • invite them an online community like a Facebook Group (more on this later) Resource: Mailshake Cold Email Playbook
  14. 14. RECRUIT USERS MANUALLY — HOW TO NAIL OUTREACH what to write: example 1 Hey [first name], I noticed you're in the Growth Hacking LinkedIn Group that has little engagement. I wanted to personally invite you to a growth hacking Facebook Group I organize that's very active, Marketers & Founders. I happen to run one of the largest marketing communities in Silicon Valley (2000+ members) and the Facebook Group (6000+ members). The Marketers & Founders Facebook Group is moderated by a few of the best, so it’s invite only. Our moderators: Aj Cartas; 1.2 million social media fans and is an influencer lead @TopBuzz
 Taylor Pipes; content strategist @Evernote
 Me :) Past head of growth for @22Social, @UpOut, and @GrowthX. I'm now a growth evangelist @Autopilot
 You can join the Marketers and Founders Facebook Group here: https://www.facebook.com/groups/growthmarketers/ If you want to know more info, feel free to reply. Cheers, Josh Fechter Growth Evangelist @Autopilot | Adviser @Praxis calling out a bad situation to make your value obvious creating fear of missing out social proof showing the value make taking action easy and straigtforward
  15. 15. RECRUIT USERS MANUALLY — HOW TO NAIL OUTREACH what to write: example 2 Hi Andrew, I just noticed a few months ago you were looking for a solution to auto-import Paypal addresses into Highrise. http://webapps.stackexchange.com/questions/13007/how-can-i-auto-import-contacts-from-paypal-into-highrise Have you found a solution for this yet? If you have, what did you do? If you haven't, would you be interested in a service that let's you do exactly this for you without having to hire a developer or write a single line of code? Keep kicking butt with Mixergy. I listen to at least one new interview every week. Thanks! Wade shows genuine interest straight to the point killer value proposition
  16. 16. RECRUIT USERS MANUALLY — HOW TO NAIL OUTREACH more important stuff SUBJECT LINES: TO GET OPENED OR TO NOT GET OPENED • make it stand out in their inbox • entice, create curiosity, make them want to open the email • avoid looking spammy FOLLOW UP: PERSISTENCE WINS • 2-3 times • intervals of 3-5-7 days • avoid looking spammy NAIL IT BEFORE YOU SCALE IT: TRACK METRICS • open rate — emails sent / emails opened • response rate — replies / emails opened • clickthrough rate — links clicked / emails opened • Tool: Streak — in-Gmail CRM that tracks data (free)
  17. 17. SOURCING PROSPECTS where to find potential users to reach out to WARM INTROS Ask mentors, co-students, friends, and family for intros to anyone your product may be relevant to EVENTS, CONFERENCES THAT ARE WORTHWHILE • worthwhile means events that allow you to get personal with quality prospects in your space • try to get your hands on the guest list beforehand to determine whether the event is worthwhile • you can reach out to people you want to meet beforehand • you can also reach out to them without going to the event THE INTERNET see next few slides YOUR ALREADY EXISTING NETWORK Address book, Facebook friends, LinkedIn connections and alike
  18. 18. SOURCING PROSPECTS ON THE INTERNET everyone is on the internet, you just need to find them 1. People on the internet are grouped around commonalities.
 They are in the same communities, read the same articles, follow the same influencers and brands and search for the same terms.
 2. You can find anyone’s email address from first name, last name and domain.
 3. From names, it’s fairly easy to find everything else. Most notably social media profiles.
 4. You can use tools to automate both prospect sourcing and data enrichment
  19. 19. SOURCING PROSPECTS — FINDING EMAIL ADDRESSES FIND EMAIL ADDRESSES BY NAME FIND EMAIL ADDRESSES BY DOMAIN • first name, last name • domain or company • domain or company if a tool only accepts domains and you only have companies, follow these instructions to convert EMAIL FINDING TOOLS hunter.io contactout.com voilanorbert.com anyleads.com Resource — The Growth Hacker’s Playbook To Find Anyone’s Email Address
  20. 20. SOURCING PROSPECTS — FACEBOOK EVENTS GROUPSPAGES profile URL, name, current location, current employer phantombuster.com YOU GET click the column headers to access Phantombuster links
  21. 21. SOURCING PROSPECTS — LINKEDIN PROFILE SEARCH phantombuster.com Search users by • location • industry • current/past company • connections of • school • job role (Pro) • company headcount (Pro) • seniority in position (Pro) • … and more GROUPS COMPANIES POSTS ENGAGERS YOU GET profile URL, name, location, company, job role, industry linkedhelper.com click the column headers to access Phantombuster links
  22. 22. SOURCING PROSPECTS — LINKEDIN LINKEDHELPERPHANTOMBUSTER * both tools are able to directly source email addresses from LinkedIn profiles
  23. 23. phantombuster.com SOURCING PROSPECTS — MORE PHANTOMBUSTER EXAMPLES
  24. 24. AUTOMATE TO SCALE REACH Hi {{prospect firstname}},  I noticed you guys at {{prospect company}} help brands to generate qualified leads by building tools their audience can use for free. It’s a great new space, but I know it’s hard for agencies to scale their offering because development takes up a lot of time. Because these apps tend to have the same building blocks, we’ve built {{your startup name}} software that gives you those building blocks so you can develop and deliver much faster. Agencies like {{similar company to prospect company}} tried our first version and were impressed. Here’s what their {{decision-maker}} said: {{testimonial}}. I’m confident {{prospect company}} would have similar results. Do you have time next week for a chat? You can book a slot with me here. {{your firstname}} , Co-Founder {{your startup name}} 
 {{landing page URL}} SPREADSHEET WITH PROSPECTS EMAIL AUTOMATION mailshake.com mixmax.com Don’t use tools that send emails from their own server — your emails will end up in spam. Only use tools that connect to your personal email account. BE HUMAN TO BUILD RELATIONS personalize with variables like • first name, last name • company • industry • similar company • testimonial • landing page url • {{anything}}
  25. 25. useorca.comdux-soup.comlinkedhelper.com LINKEDIN DOESN’T LIKE AUTOMATION. MOST TOOLS ALLOW TO SET LIMITS ON AUTOMATED ACTIVITY. THEY USUALLY ALSO OFFER ADVICE ON WHAT LIMITS TO SET. AUTOMATE MESSAGES TO 1ST DEGREE CONNECTIONS AUTOMATE INMAILS TO 2ND & 3RD DEGREE CONNECTIONS AUTOMATE CONNECTION REQUESTS TO 2ND & 3RD DEGREE CONNECTIONS Automatically reach out to prospects you already are connected to. The same principles introduced earlier for email outreach apply. Do not mindlessly and blatantly pitch your product. Focus on giving them a reason to care. Automated cold outreach to prospects you source from Profile Search, Groups, Companies or Post Engagement via InMail. Only available if you have LinkedIn Pro and the (low) number of InMails you can send per day is limited. Automatically send invites to prospects you source from Profile Search, Groups, Companies or Post Engagement.
 You can turn this into outreach by attaching a personalized message (limited to 300 characters). If you do this, avoid pitching your startup right away. Focus on starting a conversation instead. phantombuster.com AUTOMATING LINKEDIN TO SCALE REACH & BUILD RELATIONS
  26. 26. IDENTIFY INFLUENCERS IN YOUR NICHE Find Instagram accounts your target audience follows and engages with. You can use a tool like Heepsy for a first exploration of your niche, then dive into Suggested Accounts and optimize from there based on your results. AUTOMATING INSTAGRAM TO SCALE REACH, BUILD AWARENESS & DRIVE TRAFFIC READ THIS FOR STEP-BY-STEP INSTRUCTIONS TO AUTOMATE INSTAGRAM GROWTH POST THE SAME TYPE OF CONTENT 5-7x A WEEK AUTOMATE ENGAGEMENT WITH INFLUENCERS’ AUDIENCES INCLUDE LINK TO LANDING PAGE IN BIO WITH CLEAR CTA You’ll need to have relevant content on your Instagram profile to get prospects to engage with it and click through. To nail value-audience fit, draw (steal) inspiration from the best performing posts of the influencers in your niche. Get on your audience’s radar by automatically engaging with them: follow, like posts, comment on posts. TARGETING POSSIBILITIES • by engagement on posts of target accounts (this tends to work well) • by followers of target accounts • by engagement on posts with specific hashtags • by location Drive traffic to your landing page by including the URL on your bio — combine with a killer Call-To- Action. Add a retargeting pixel to your URL so you can target link clickers with ads on Facebook, LinkedIn or Twitter. • ClickMeter • PixelMe BONUS instazood.com jarvee.comsocialcaptain.com (PRO-LEVEL)
  27. 27. BE EVERYWHERE THEY LOOK FULL NAME COMPANY NAME and/or you and everyone else on the internet have 1 friend in common: Google PB automates Google Search & scraping first result — example: “Steve Jobs Apple site:linkedin.com" PHANTOMBUSTER.COM
  28. 28. THE BEST WAY TO TALK TO AND LEARN FROM USERS BUILD A COMMUNITY RESOURCE — “HOW I GROWTH HACKED ONE FACEBOOK GROUP POST TO MAKE S200,000’ BY JOSH FECHTER STAGE 1 DIRECT LINE WITH USERS FOR LEAN PRODUCT FEEDBACK STAGE 2 THOUGHT LEADERSHIP AND ENGAGED AUDIENCE READY TO BUY
  29. 29. LAUNCH YOUR PRODUCT ON EARLY ADOPTER HEAVEN THE DAILY HUNT Every day again, products compete to end up on top of the site. UPVOTES You rise in the ranking by getting upvotes from community members. But that’s not the only thing that counts (there’s a secret algorithm). HUNTERS & MAKERS Only community members with Hunter permissions can post new products. Members that creaed the product are called ‘Makers’. WHAT YOU’LL GET OUT OF IT GETTING ON THE RADAR OF EARLY ADOPTERS These are the type of people who’ll try your product when it’s still a baby. They’re okay with it having growing pains from time to time. THE BASICS TRAFFIC & SIGNUPS People will come flocking to your landing page and sign up for your trial, demo or early access. INVALUABLE PRODUCT FEEDBACK While the traction is awesome, early stage this is still mostly about getting as many peopple as possible to talk about your product. RESOURCE #2 TO NAIL YOUR LAUNCH RESOURCE #1 TO NAIL YOUR LAUNCH
  30. 30. USERS WAITING FOR YOU TO SOLVE THEIR PROBLEMS Quora means to give the world the best possible answer to any question humans could possibly have. Users can ask questions, write answers and upvote answers of others. Answers with the best upvotes end up on top. People from your target audience have likely posted questions you can answer. You just have to show up and gently point them to the solution: your startup. WHAT YOU CAN GET OUT OF QUORA HIGH-QUALITY TRAFFIC — Because of the 1-1 relationship between what the user is looking for and your value, on-site conversion rates for traffic incoming from Quora tends to be signficantly higher than other channels (10% -15%). THOUGHT LEADERSHIP — As you help your target audience to advance in what they care about, answering questions relevant to them, you’ll become an influential voice in your space. Go beyond questions that directly invoke your product and also answer other questions relevant to your specific target audience. HOW TO WRITE GOOD ANSWERS Don’t be spammy and mindlessly pitch. Instead, focus on providing real help. Align your answer to the question and gradually build a convcincing narrative towards your product. Think of your answers as landing pages: be mindful of who you’re writing to and make the value obvious and relevant. Make it very clear how your product makes their lives better. Make it impossible for them not to click through when they arrive at the call-to-action.
  31. 31. HUSTLE FOR UPVOTES To get your answer on top, you’ll have to get upvotes. While the algorithm is about more than just upvotes, upvotes are the one thing you can immediately influence. Use your network. You can create a group with other people looking for upvotes or some other kind of social media proof and help each other out. BEST KEPT SECRET: ANSWER WIKIS WHAT MAKES A GOOD QUESTION? Good questions typically have more followers than answers. The higher this ratio, the better. This means a lot of people are interested while not a lot of people have provided answers. The optimal ratio is said to be 7 followers for every 1 answer. HOW TO FIND GOOD QUESTIONS RELATEDQUESTIONSMOSTVIEWEDWRITERSANSWERWIKI Answer Wikis are supposed to combine the best answers on a question in a convenient overview. You can create and even edit Answer Wikis - blatantly adding your startup with a link to your website. Changes typically have to be approved by moderators, but in reality they rarely get dismissed. ON-SITE — Check out related questions, check out topics and study the questions influencers in your space answer. To find influencers, check out Most Viewed Writers for a topic, then click to their profile. SEO TOOL — Quora questions tend to rank highly in Google. This allows for easy SEO wins. To find questions with high SEO value, use a tool like Moz, Ahrefs or SEMRush. SEARCH VIA QUORA ADS — Within Quora Ads Targeting, you can view the average weekly views for every question out there. Creating an Ads account is free and you don’t have to run actual ads to get these insights. STEP-BY-STEP GUIDE ON FINDING GOOD QUORA QUESTIONS
  32. 32. YOUR BEST SHOT AT BIG TIME BUZZ Reddit is the world’s 17th website for traffic (5th in the US). As users don’t use their real names, it’s not a place you can source potential users for. You can however use it to get people talking about your startup. Because of its huge user base, high levels of engagement and wide variety of subreddits, it’s a place where a lot of stories go viral before they reach other social platforms and mainstream media. BBC WORLD REDDIT LIKES LAWS (& LAW ENFORCEMENT) To maintan order in the chaos, Reddit has a lot of posting rules - specific ones per subreddit. Moderators are ruthless and will take every opportunity to take your post down. For every subreddit you try to post in, read the rules, study the posts that stay up and get traction, plus make sure you post with a high-karma account. REDDIT DOESN’T LIKE OUTSIDERS (LOW KARMA) As a Reddit user you can accumulate karma through the amount of upvotes and comments your posts get. A user’s karma indicates the seniority of a Reddit user and determines how severely moderators judge their actions. In short: don’t create a new Reddit account and immediately post a story about yourself. Instead, accumulate karma first in easy subreddits (see list) or get your hands on an account that already has a good amount of karma. TELL A CAPTIVATING STORY + WRITE KILLER HOOK To go viral, a piece of content need To tell a story that audience feel something — this can be happiness, motivation, inspiration, sadness etc — in a way that makes them want to share it with other people. Rather than the startup itself, focus on the story — even if that story wouldn’t directly involve your product. To get people to read the story in the first place, you’ll need to write a hook (subject) that stands out in the list of posts in the subreddit. Think of the type of headlines that make you want to click them, but avoid clickbait where you the story doesn’t deliver on the promise of the hook: users will feel cheated and vote your post down. Mind that it doesn’t need to have a text post: images and (especially) videos can work too, if done well. HOW TO GET YOUR STARTUP ON THE FRONT PAGE OF REDDIT REDDIT HATES BLATANT MARKETING: HERE’S HOW YOU STILL CAN GET THOUSANDS OF VISITORS FACEBOOK GROUP TO GET UPVOTES
  33. 33. MAKE PEOPLE SHARE INHERENT VIRALITY ARTIFICAL VIRALITY Your product has inherent virality if the experience of the user improves as more users use it. • Users use your app to transact or collaborate with others. • Users use your app to create content that is intended to be shared. If your product doesn’t have inherent virality, you can incentivize users to share with rewards. This can be money, but what tends to work better is to give greater access to the product itself. THE STARTUP PRE-LAUNCH BY VIRAL LOOPS VALUABLE LESSONS FROM DROPBOX UNDERSTANDING THE ENGINE OF ADOPTION
  34. 34. USER ACQUISITION — STAGE 2 CLAIM THOUGHT LEADERSHIP BY BUILDING AN AUDIENCE YOU CAN MARKET AND SELL TO
  35. 35. content marketing is the long-term capital investment of growth strategy IT PAYS DIVIDENDS INDEFINITELY CONTENT, THEN MARKETING For content marketing to work, the ‘content’ needs to come first. Rather than to sell, aim to educate, inspire, delight and/or entertain. Your goal is to build an audience that trusts you to advance in the area you create value in, with both your content and startup. This kind of thought leadership takes consistent creation of quality value. And time. Nothing burns a relationship quicker than trying to close the deal on the first date. GROWTH NEEDS QUALITY Content only helps you grow if it stands out for quality.
 
 (1) The better the post, the more users will opt-in to your newsletter, sign up for your product and share with others. (2) The better the post, the more people will read it to the end (and not bounce), and the more other blogs will link to it. Metrics like these make Google rank you higher in searches. When people need something, they turn to Google. The better your posts, the more likely they’ll find you.
  36. 36. BEING MAGNETIC ONLINE value/audience fit * reach THE MAJORITY OF THE VALUE SHOULD BE RELEVANT TO THE MAJORITY OF THE AUDIENCE
  37. 37. topics keywords resources angles principles distribution A FRAMEWOK FOR EASY, ROI-DRIVEN CONTENT MARKETING Identify areas where you can provide unique value to your audience. From those areas, go deeper down into specific topics you can create create posts on. Example If I’m selling matcha, I can write about ‘healthy lifestyle’ and ‘productivity’. Within healthy lifestyle I can write about nutrition and workouts. Within productivity I can write about habits that help to get done more in less time. Identify related keywords your target audience uses to find find value like yours. To nail SEO, speak the language of your target audience from the start. Keyword volume indicates audience relevant. Keyword difficulty indicates degree of competition. Connect search trends with real-world trends: Google Trends and Google Correlate. Look at questions people have on topics: Quora and AnswerThePublic. Make a list with possible angles you can use to address content subjects. This post will show you how much possibilities you have to address one and the same topic. Consider possible formats, ranging from high-level (video, podcast, post) to low-level (text post can be blog post, LinkedIn post, Facebook Group post Quora answer etc. Define editorial principles to ensure consistency and quality throughout your content in a way that is aligned to your audience’s needs and preferences. Examples • tone of voice: authoritative, conversational, rebellious • no passive voice • avoid adverbs, adjectives • use personal pronouns • be specific and give examples involve influencers in content creation for quick & warm access to target audiencesBONUS RESOURCE — NO-NONENSE GUIDE TO NAILING KEYWORD RESEARCH For every subject you want to create content around, collect high-quality resources: other articles, YouTube videos, Quora answers etc. Seek content that has already proven to have great fit with your audience. Here’s how: • study best performining social posts from brands (personal and company) • use Buzzsumo to identify best performing content per website • use Moz or alike to identify best performing content per domain (by backlinks or traffic). Make a checklist you follow to ensure proper distribution of every new piece of content. Constantly dapt this checklist based on results. Examples • distill into LinkedIn post • repurpose as article onf Medium • post as Google Doc in Facebook Group with reference to original URL • transcribe podcast into post on your blog • include in newsletter • share to Messenger bot subscribers
  38. 38. PEOPLE BUY FROM PEOPLE THEY KNOW, LIKE AND TRUST REPURPOSE WHAT ALREADY WORKS BUILD A PERSONAL BRAND TELL INSPIRING STORIES HAVE AN OPINION TELL EDUCATING STORIES RESOURCE —LINKEDFLUENCER: EBOOK BY JOSH FECHTER RESOURCE — COPYWRITING BIBLE: EBOOK BY JOSH FECHTER
  39. 39. USER ACQUISITION — STAGE 3 EXPERIMENT YOUR WAY TO SCALABLE PRODUCT-CHANNEL FIT (GET TO PRODUCT-MARKET FIT FIRST)
  40. 40. HOW TO THINK ABOUT ACQUISITION 1. NAIL YOUR VALUE PROPOSITION (see earlier slides on value proposition generation) Clearly define how your product makes the lives of your target customers better than it is right now. If you have multiple target audiences, do this for each one. EXAMPLE Our artificial Intelligence shovel helps onion farmers dig holes faster, so they can plant more and sell more with less back pain than traditional shovels. What is the product? An artificially intelligent shovel
 Who is the customer? Onion farmers
 What value is generated for them? Time saved through faster planting
 How is it better than the old way? Less back pain than traditional shovels
  41. 41. 2. UNDERSTAND YOUR CUSTOMER The better you’re able to grasp the mindset and behavior of your target customers, the better you’ll be at reaching them with the right message, in the right place, at the right time. HERE ARE SOME QUESTIONS TO HELP YOU THINK ABOUT THIS • How do your target customers buy products like yours today? • Where do your target customers connect with people like them? • Where do your target customers get their information personally? • Where do your target customers get their information professionally? • Who do your target customers look up to? • Who do your target customers trust? • What time of the year is most important/relevant to your target customers? • Which apps do your target customers use? • Where do your target customers hang out online? HOW TO THINK ABOUT ACQUISITION
  42. 42. 3. IDEATE ON WAYS TO REACH YOUR CUSTOMERS Dream up all the ways you could reach your audience and write each idea on a giant list. Don’t worry about thinking big and crazy. We’ll address feasibility for each later. EXAMPLE SOME WAYS WE COULD REACH OUR ONION FARMERS • Buying sponsor slots on the annual OnionCon conference • Getting an interview on the OnionPod podcast • Start a YouTube channel for onion farmers • Facebook advertising based on interest in onions and shovels • Google Ads targeteted to the word “shovel” • Content creation on onion farming & shoveling • Sending sample shovels to all the speakers at OnionCon • Referral program to incentivize word-of-mouth among onion farmers • Make distribution deal with retailers where onion farmers shop for gear HOW TO THINK ABOUT ACQUISITION
  43. 43. 4. WIN ON PAPER For every idea, imagine the funnel you need customers to go through to make money. Make reasonable assumptions for conversion rates from one stage to the next one, based on data you already have (preferably) or external references. EXAMPLE SPONSOR EPISODE OF ONIONPOD, FOR WHICH THEY CHARGE $1,000 • 25,000 listeners on OnionPod • 2% of listeners (500 people) visit your website because of the ad • 2% of those visitors (10 people) buy a shovel • $100 per shovel sold amounts to $1,000 in sales FROM THERE, SUBTRACT ALL COSTS YOU MIGHT INCUR FOR CREATING THE SHOVEL AND YOU SHOULD HAVE A ROUGH IDEA OF WHETHER THE IDEA IS WORTH PURSUING From here, you can also start to think optimization. Theorize how the outcome could change if you improve a part of your tactic. Maybe you can create a better ad and get 5% of OnionPod’s listeners to click through. Or maybe you should charge more per shovel. While your assumptions don’t need to be perfect to get valuable takeaways, rather be conservative than optimistic. HOW TO THINK ABOUT ACQUISITION
  44. 44. 1. GENERATE IDEAS Use data to ideate traction tactics. 2. PRIORITISE Rate and compare potential impact, confidence and resources needed. 4. ANALYSE DATA Study hard and soft data to learn if and why experiments (didn’t) work. 3. RUN EXPERIMENTS Design experiments to test hypotheses underlying the chosen ideas. FINDING TRACTION 19 TRACTION CHANNELS BULLSEYE FRAMEWORK CHEAP TRACTION TESTS
  45. 45. SCALE SCALABILITY EASE & COST AVAILABILITY PRODUCT/CHANNEL FIT RELEVANCE GUT FEELING BLINK PRIORITISING ACQUISITION IDEAS 1-5 1-5 1-5 1-5X X X MORE FRAMEWORKS TO HELP YOU FIND THE RIGHT TRACTION CHANNELS
  46. 46. TRY TO BE LESS WRONG at all times, in whatever you do

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