A review of Traction

1. TRACTION: A STARTUP
GUIDE TO GETTING
CUSTOMERS…A REVIEW
Willa Fogarty

2. Traction is…
 Growth
 Quantitative evidence
of consumer demand…
 A sign that something is working…
 The best way to improve
your chances of startup success


3. In other words….
Traction Trumps Everything

4. Traction Channels
 Viral Marketing
 PR
 Unconventional PR
 Search Engine Marketing
 Social and Display Ads
 Offline Ads
 SEO
 Existing Platforms
 Community Building
 Content Marketing
 Email Marketing
 Engineering as Marketing
 Targeting Blogs
 Business Development
 Sales
 Affiliate Programs
 Offline Events
 Speaking Engagements
 Trade Shows
--------------------------------------------
--
--------------------------------------------
--

5. Don’t worry, there’s a framework
for that!
To find the channel that will get you traction…
1. Brainstorm 2. Rank
3. Prioritize 4. Test
5. Focusing
If no channel is promising, rinse and repeat.

6. Most startups focus on this
***Product Development

7. But not you!!
“Almost every failed startup has a product. What
failed startups don’t have are enough
customers.”
***Focus on product development AS WELL AS
traction.
50%--Each should get half of your attention.

8. Test, Test, Test
 Inner circle tests
 A/B Tests
 Quantify your results
Do this ^^^
to combat this

9. Which way do you go?
Startups get pulled in a lot of different directions…
Instill goals and milestones; use the critical path
method (the path with the fewest number of steps) to
get there.
**Insight: Suppose you have a traction goal of increasing your
advertising presence. Once you meet your goal, the authors
would suggest shifting focus to something else. While this
makes sense, does shifting focus too much compromise your
now established advertising presence?

10. Time to pick a channel!

11. Viral Marketing
Existing users refer others to your product; every
acquired customer brings in at least 1 other.
Use inherent virality,
Incentives, social networks,
etc., to increase viral loop.
Viral Coefficient
K= i*conversion percentage

12. Public Relations
Leveraging traditional news outlets, newspapers, and
magazines to increase your startup’s awareness.
Notice: stories and content now filter up the media
chain, rather than down.
Package your pitch to media organizations
as a compelling story.

13. Unconventional PR
2 Types: publicity stunt & customer appreciation
Publicity stunts can foster instant
national recognition.
____________________________________________________________________________________________________________________
Customer appreciation, “be
awesome to your customers,” more
sustainable
***Insight: I see a creative PR stunt as one of
the most effective ways to get
traction these days, especially with a
generation like the millennials who
appreciate a more creative
approach

14. Search Engine Marketing
Placing advertisements on search engines like
Google-- works well for companies selling directly to
their target market.
Testing areas include keywords, ad copy,
demographic targeting, landing pages, and CPC
bids
***Insight: The book touched on using negative
keywords to prevent your ads from showing up for
certain keywords. If you’re selling eyeglasses, you
prevent your ad from coming up for “wine glasses…”
However, what is the harm in having your ad there
just in case? Maybe it could remind someone they
need to change their eyeglass prescription?

15. Social and Display Ads
Banner ads, Facebook and Twitter ads, etc.
Social and display ads generate demand by
building awareness of products, hoping to
eventually convert the audience to customers.
Create compelling
content that people
will like/share.

16. Offline Ads
Ads that appear in mediums such as TV, radio,
magazines, newspapers, yellow pages, billboards,
direct mail etc.
 Consider demographics
 Look for remnant advertising
 Use URLS and unique web
addresses for tracking
***Insight: Although remnant advertising is cheap, how
large are the benefits? If there are spaces that aren’t
selling, couldn’t the publication be unpopular or seen by
less people? E.g. The New York Times probably doesn’t

17. Search Engine Optimization
The process of improving
your ranking in search engines
in order to get more people
to your site.
2 Approaches
Fat Head and Long Tail
Your ability to rank on the 1st page should be a deciding
factor in whether to pursue this channel.

18. Content Marketing
Blogging--quality content is essential, write
about problems your customers have.
Drives search and word of mouth, users funnel
through the blog and onto the website.

19. Email Marketing
Email promotions for sales, discounts,
newsletters, etc.
Should be personalized
Lifecycle emails work
well for moving
customers through your
funnel.

20. Engineering as Marketing
Creating useful tools such as calculators,
widgets, and micro-sites to get your company in
front of more people.
Use single purpose tools, and make them easy
to find.

21. Targeting Blogs
Finding influential bloggers in your area of
business-- having them promote your product.

22. Business Development
BD primarily focuses on exchanging value
through partnerships.
Good deals align with
co. and are focused on
critical product and
distribution milestones.
Joint ventures, licensing, Distribution Deals,
Supply Partners, etc.

23. Sales
Generating leads, qualifying them, and
converting them into paying customers.
Use
Situation questions
Problem questions
Implication questions
Need-Payoff questions
Build a repeatable sales model.^ ^

24. Affiliate Programs
Paying people or companies for performing
actions such as making a sale or getting a
qualified lead.
*Ability to use affiliate programs effectively
depends on how much you are willing to pay
to acquire a customer.
Found in spaces such as retail, information
product, or lead generation.

25. Existing Platforms
Using websites, apps, or networks with a huge
number of users to gain traction.
App stores, social platforms, browser extension
stores, etc. ----main goal is to rank highly on
these platforms
*Focus on new and untapped platforms—your
competition isn’t there yet.

26. Trade Shows
Events that are exclusive to
industry insiders, and
designed to foster interactions
between vendors and their
prospects.
Amount of preparation will determine level of
success.
*Schedule meetings with people you want to meet.
*Have an inbound and outbound strategy for booth.

27. Offline Events
Sponsoring or running offline events, from small
meet-ups to large conferences.
Co. with customers who have
shared interests or a
kind of community will
benefit most.

28. Speaking Engagements
Speaking at trade shows or offline events.
Tell a story
through your
speech.
*Increases your business visibility and connections
*Presents you as an expert

29. Community Building
Investing in the connections among your users,
fostering those relationships and helping them
bring more people into your circle.
Establish your mission, foster cross-
connections, communicate with your audience,
be transparent and ensure quality.
Results in evangelists for your company

30. Go forth and get traction!
“You can still build a business without being
creative. If you don’t have creativity, you need
money. You need one or the other.”