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F&F Marketing Lesson of the Day: Lean Startup Marketing
1. Lean Marketing for Broke Startups
By: Marcus Lee, Project Director, @MarcusJulienLee
2. The Lean Startup by Eric Ries
A book written in 2011 by this guy
Replace traditional marketing with
experimentation
―Validated Learning‖
Definitely had online businesses in
mind
Try an idea
Measure It
Repeat what works
Try something else
Your Product = Your Marketing
3. Job Opening: Growth Hacker (WTF?)
Growth Hacking—How do I get more users?
Aaron Ginn defines a growth hacker as:
I define growth hacking this way:
―One who’s passion is pushing the metric through use of
testable and scalable methodology‖
A marketing mindset that involves taking creative risks and
testing them in order to accelerate product
Even though I think it’s more of a mindset then a position,
some startups are actually hiring ―Growth Hackers‖
4. The Lean Marketing Funnel
Goal is to build a self-perpetuating marketing machine
where the cost of growing your customer base is $0.00
5.
6. Case Studies: Dropbox User Onboarding
•
•
•
200 milllion users
Worth $4 Billion
Spent almost no
money on
advertising
•
•
They tried. Would be
$400 per new
customer on Adwords
Invested in their user
onboarding to make
visitors into
customers
1. Signup Driven homepage
(above)
1. Easy signup process
2. Making it social
1. Sharing with simplicity
2. Product referrals with
incentives
3. Social Media – more
sharing, more data space
7. Case Studies: Upworthy Content Strategy
Upworthy is making social
good videos go viral.
Attracting readers not
pageviews
Test different content in
different locations
Pop-ups that ask for social
follows
Around 10M unique views
per month in the first year
419% more FB likes
Make 25 headlines for
every single story
Can be the difference
between 8,000 views and
474,000.
8. Case Studies: Tinder
One of my favorite grow
hacks of all time – Tinder
Founders were at USC
Held exclusive frat parties
where people had to
download the app to get in.
Built a local following
1,000 users on a
campus>>>1,000 users
around the country
9. Key Takeaway #1
The key to a successful business is not the size of
your marketing budget!
Testing creative ideas
Agility – Adjust and Adapt
Measuring Actual Progress
Knowing your customers
10. Key Takeaway #2
Be innovative in your marketing approach. Don’t be
afraid to take risks!
Don’t copy any of the techniques! They probably won’t
work for you!
However, these cases contain lessons about consumers.
Starting point for your marketing adventures.
Reid Hoffman – Founder of LinkedIn ―Building a startup is
like jumping off a cliff and building an airplane on the way
down.‖