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Agile Marketing Meetup - Distribution to raise VC $
- 1. Distribution to Raise VC $ Agile Marketing Meetup - February 11, 2014 Mike Harden - Artis Ventures Paul Willard - Subtraction Capital Sponsors: Mindjet + Hotwire
- 2. Disclaimers • Never legal/tax advice • Distribution focus • Still too broad • Snowflakes • Disruptive software
- 3. My Scars • 4 Tech Startups • >$500m raised • Dozens of advisory raises • Move to the Dark Side
- 4. Series Seed: The Problem • Problem • Not “how does this make the world a better place” • Vitamin pain pill: Addiction? • 7 deadly sins • Portfolio test
- 5. Series Seed - The Rest • Market - Run rate • People - Tech/Product/Distribution • Multiple - perceived value • Bonus points: virality, network, ip • Pilot - the bar
- 6. Series A: Product-Market Fit • Beta customers • • Enterprise - 5 Consumer - fanboys • Take the product away? • LTV proxies • • • Conversion/Activation Engagement/1st Time UX Retention
- 7. Reverse Engineering Active User % 100% Active % Month since sign-up
- 8. Series A: Revenue Model • eCommerce • Media • Seat License • Freemium • Free for consumers • Fortune 500 premium • Sales method
- 9. Series A: Bonus Points • Funnel • Cohorts • Addictive design • Seeding the funnel • Virality, network, ip • Scalable growth • Progress - the bar A
- 10. Growth Rounds B+ Cumulative Customers • Up and to the right/scalable • Quality/LTV/ROI - Cohorts • Revenue • Ramp • Quality % Customers Paying
- 11. Cohorts (the shizzles) Cumulative LTV/customer • Vintage curves • Very predictive • Almost anything can be cohorted • Unitization • Cohort buildup vs averages Active User %
Hinweis der Redaktion
- I did not raise > $500m, rather I was in leadership positions in the product, marketing, and design areas at companies that raised > $500m
- relieving pain = dopamine to the brain The Power of Habit: Duhig Hooked: Eyal & Hoover
- Pilot: People are first time at the rodeo? Then pilot must be further
- Net referrer score Customer Satisfaction
- Most common: people think their product is for everyone but learn verticals after rollout Tuning product to appeal to the right market Chicken & eggs: creating active users
- Revenue distribution Broadest adoption Least friction Most defensible