Product School San Francisco January 31 2015
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Product School San Francisco January 31 2015
- 1. 1twitter @meetsamir @Product School Jan 31st, SF
- 3. 3twitter @meetsamir The Growth Master • Founder, CEO of DoRevolution and Growth Mentor at 500Startups Silicon Valley, Optimized $1B+ in Ads. • Founder of SearchForce and pioneer to apply Wall Street Analytics and Quantitative Trading Techniques to Advertising for Portfolio Optimization. Raised $10M+ in financing, developed a Cross-Channel Optimization SaaS Platform Based and took the company to profitability. • MBA in Brand Marketing from Cornell's Johnson School of Business.
- 4. 4twitter @meetsamir How to Build a Growth Engine •Scalable •Repeatab le •Predictab le
- 5. 5twitter @meetsamir BOTS Take Over Social Selling
- 6. 6twitter @meetsamir Automate Visits to Profiles
- 7. 7twitter @meetsamir Profile Current & Clear Action
- 9. 9twitter @meetsamir Dave McClure Startup Ecosystem 9 • 1,000 Bootstrap Startups ($0-10K) • = 1,000 Parents/Garages/Basements @ $0-500/mo food+rent • 300 Accelerator Startups ($10-100K) • = 10-20 Accelerators @ $1-5M/yr, 20-50 co’s/yr • 100 Seed-Stage Startups ($100K-$1M) • = 5-10 Micro-VC Funds @ $10-30M/yr, 10-20 co’s/yr • 30 Series A/B Startups ($1-10M) • = 3-5 Early-Stage Funds @ $25-100M/yr, 5-10 co’s/yr • 10 Later-Stage Companies ($10-100M) • = 2-3 Later-Stage Funds @ $50-250M/yr, 3-5 co’s/yr • 1-3 Mature Company IPOs ($100M+)
- 10. 10twitter @meetsamir - McKinsey & Company
- 11. 11twitter @meetsamir - McKinsey & Company
- 12. 12twitter @meetsamir Growth Trumps all Metrics 12 • High growth companies return 5X more to share holders • Growth predicts long-term success • SuperGrowers (growth rate >60%) when reached $100M were 8X more likely to reach $1B than ones <20% growth rate • Growth matters more than margin or cost structure. Increases in revenue growth rates drive 2X as much market cap gains - McKinsey & Company
- 13. 13twitter @meetsamir Be Vanilla or a Gorilla International Ice Cream Association the Top 10 flavours of ice cream in order are: vanilla, olate, butter pecan, strawberry, neapolitan, chocolate chip, french vanilla and cookies ‘n’ cre anilla (#1) got approximately 28% of sales and chocolate (#2) got approximately 8% of sales The rest got 6% or less. In this instance, being #1 makes you 350% better off than #2.
- 15. 15twitter @meetsamir Everyone needs to Grow. But Growth is Hard.
- 16. 16twitter @meetsamir Why is Growth Hard? • Law of Vanilla Ice-cream • Rapid Evolution of Platforms • Increasing precision brings complexity • Speed & Machines • Lots of Money at Stake
- 17. 17twitter @meetsamir Platforms 2.0 Search, Social, Mobile, Video, Messaging $100M+ Users Available ~ Dave McClure
- 18. 18twitter @meetsamir A Zillion Ways to Acquire Users
- 19. 19twitter @meetsamir SEO is not JUST SEO ~ Rand Fishkin, Wizard, Moz
- 20. 20twitter @meetsamir Billions at Stake ~ Rand Fishkin, Wizard, Moz
- 23. 23twitter @meetsamir Action : A Historical Opportunity Laser-Like Precision Marketing
- 24. 24twitter @meetsamir Action Reflect on your current knowledge and know the delta
- 25. 25twitter @meetsamir The Rise of the Machines
- 26. 26twitter @meetsamir Hedge fund Spent $300M to increase speed by 3 Milliseconds
- 27. 27twitter @meetsamir High-frequency trading factoids 80% Bot Trading!
- 28. 28twitter @meetsamir Hyper Inflation & Irrational Bidders
- 29. 29twitter @meetsamir Google Pays $500M
- 30. 30twitter @meetsamir Moneyball for Growth
- 32. 32twitter @meetsamir Marketing Department vs (Machines + Geniuses) Do you have DataStars on your team?
- 33. 33twitter @meetsamir Actions • Grow Fast or Die Slow • Markets are hyper-competitive and inflated • Companies are using Artificial Intelligence, Math and Stats to gain competitive advantage • Companies are hiring the best and brightest minds and paying billions for them. It’s the TEAM stupid. • Easy to spend money, hard to make money • Bottom-line : Pay attention OR you will end up in the dead pool.
- 38. 38twitter @meetsamir 8 Qualities of World Class Growth Teams • Possess Data-Driven Thinking • Rapid Learners of Dynamically Changing Marketing Channels and Growth Platforms • Understand Growth Process • Are Highly Product-Savvy • Have a Hustle Mindset • Possess a Cross-Disciplinary Skillset • Connect Marketing to Product Development • Possess Technical Acumen • Hiring connections
- 41. 41twitter @meetsamir Stop PUKING Data. Make Money from it.
- 42. 42twitter @meetsamir Data Storage & Retrieval
- 43. 43twitter @meetsamirTraffic Acquisition Market Research & User Feedback Email Marketing Competitive Research Tools Sales Intelligence Lead & Customer Acquisition AB / Multivariate Testing
- 45. 45twitter @meetsamir ~ Brian Balfour
- 46. 46twitter @meetsamir Website.com Emails & widgets Campaigns, Contests Biz DevAds, Lead Gen, Subscriptions, etc Homepage / Landing Page Product Features 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Emails & Alerts Blogs, Content System Events & Time-based Features ~ Dave McClure, 500Startups
- 47. 47twitter @meetsamir Risk Management ~ Process • KPI’s • Growthaly tics • Kaizen
- 49. 49twitter @meetsamir 49 No Silver Bullet
- 51. 51twitter @meetsamir ~ Brian Balfour, Hubspot
- 53. 53twitter @meetsamir Customer Lifecycle • Acquisition: users come to the site from various channels • Activation: users enjoy 1st visit: "happy" user experience • Retention: users come back, visit site multiple times • Referral: users like product enough to refer others • Revenue: users conduct some monetization behavior AARRR! ~ Dave McClure, 500Startups
- 55. 55twitter @meetsamir Experiment • Objective • Hypothesis • Design • Resource Estimation • Results • Findings • Action Items
- 56. 56twitter @meetsamir Running Growth Experiments
- 59. 59twitter @meetsamir Establish Objectives and Key Results (OKRs) • Set your objective based on what’s going to have the greatest impact on your business right away • Establish a timeline for testing • Set multiple Key Results (KRs) based on level of difficulty: KR 1 – 90% chance of success. You did a good job. KR 2 – 50% chance of success. You did a great job. KR 3 – 10% chance of success. You hit it out of the park!
- 60. 60twitter @meetsamir Example -- Growth via Adwords: Goal: Lower their CPA for accredited investor signups via AdWords without a significant drop in conversion volume. 1. Focus on Search Network to drive lower CPA 2. Set timeline for 60 days 3. Three Key Results will be attempted: • KR1 -- (90% change of success): Raise conversion volume by 10% by focusing on strategic bid modifications RLSA audience lists. • KR2 – (50% chance of success): Lower CPA by 20% by limiting the keywords they buy to high performing terms only, and setting location bid modifications by income-tier. • KR3 – (10% chance of success): Lower CPA by 20% and raise conversion volume by 10% by combining these two strategies.
- 63. 63twitter @meetsamir Platforms • Data Use / Action Ninjas / GrowthStack
- 64. 64twitter @meetsamir Data Storage & Retrieval
- 65. 65twitter @meetsamir How Big is your Data?
- 67. 67twitter @meetsamirTraffic Acquisition Market Research & User Feedback Email Marketing Competitive Research Tools Sales Intelligence Lead & Customer Acquisition AB / Multivariate Testing
- 70. 70twitter @meetsamir Website.com Emails & widgets Campaigns, Contests Biz DevAds, Lead Gen, Subscriptions, etc Homepage / Landing Page Product Features 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains Emails & Alerts Blogs, Content System Events & Time-based Features ~ Dave McClure
- 71. 71twitter @meetsamir Customer Lifecycle • Acquisition: users come to the site from various channels • Activation: users enjoy 1st visit: "happy" user experience • Retention: users come back, visit site multiple times • Referral: users like product enough to refer others • Revenue: users conduct some monetization behaviorAARRR! ~ Dave McClure, 500Startups
- 73. 73twitter @meetsamir Your Eyes are ‘Analytics’
- 74. 74twitter @meetsamir Process • KPI’s • Growthaly tics • Kaizen
- 76. 76twitter @meetsamir ~ Brian Balfour
- 78. 78twitter @meetsamir Action Establish Clear, Quantifiable Goals. Think Attribution Modeling.
- 79. 79twitter @meetsamir Experiment • Objective • Hypothesis • Design • Resource Estimation • Results • Findings • Action Items
- 80. 80twitter @meetsamir Running Growth Experiments
- 83. 83twitter @meetsamir Action You company must breathe Continuous Improvement
- 84. 84twitter @meetsamir Establish Objectives and Key Results (OKRs) • Set your objective based on what’s going to have the greatest impact on your business right away • Establish a timeline for testing • Set multiple Key Results (KRs) based on level of difficulty: KR 1 – 90% chance of success. You did a good job. KR 2 – 50% chance of success. You did a great job. KR 3 – 10% chance of success. You hit it out of the park!
- 85. 85twitter @meetsamir Example -- Growth via Adwords: Goal: Lower their CPA for accredited investor signups via AdWords without a significant drop in conversion volume. 1. Focus on Search Network to drive lower CPA 2. Set timeline for 60 days 3. Three Key Results will be attempted: • KR1 -- (90% change of success): Raise conversion volume by 10% by focusing on strategic bid modifications RLSA audience lists. • KR2 – (50% chance of success): Lower CPA by 20% by limiting the keywords they buy to high performing terms only, and setting location bid modifications by income-tier. • KR3 – (10% chance of success): Lower CPA by 20% and raise conversion volume by 10% by combining these two strategies.
- 86. 86twitter @meetsamir Action Run Growth on OKR’S.
- 87. 87twitter @meetsamir How to Build a Growth Engine •Scalable •Repeatab le •Predictab le
- 89. 89twitter @meetsamir Samir Patel samir@dorevolution.com President & CEO, DoRevolution Growth Mentor @500Startups Connect on Linkedin
- 90. 90twitter @meetsamir Hack#3 : Marketing Strategy
- 91. 91twitter @meetsamir Hack#4 : Brand Experience
- 92. 92twitter @meetsamir Hack #5 : Lean Canvas Hack
- 93. 93twitter @meetsamir Hack#6 : Themeforest + Fiverr + Wordpress
- 94. 94twitter @meetsamir Hack#7 : Six Killers of Mobile Sites 1. Unplayable videos 2. Faulty redirects 3. Smartphone-only 404s 4. App download interstitials 5. Irrelevant cross-linking 6. Page speed
- 95. 95twitter @meetsamir Hack#8 : Wordpress + Yoast
- 96. 96twitter @meetsamir Hack#9 : Buzzsumo for Content Strategy
- 97. 97twitter @meetsamir Hack#10 : Outsource Content Writing
- 98. 98twitter @meetsamir Hack# 11 : Link Twitter Bio
- 99. 99twitter @meetsamir Hack#12 : Pay Using a Tweet Provides users access to your content, product, or service once they’ve tweeted or posted about it Impact on Growth: • Invite people to pay with a post across major social media channels • Measure traffic, conversions, click and geo data
- 100. 100twitter @meetsamir Hack# 13 : Nimble, Social Signals Hack Consolidates your contacts, email, social signals, activities and follow-ups from everywhere, allowing you to manage your relationships more effectively. Impact on Growth: • Easily manage contacts across multiple channels • Tracks the complete history you and your contact share—on every channel
- 101. 101twitter @meetsamir Hack# 14 : Moat
- 102. 102twitter @meetsamir Hack#15: Moz Links Explorer
- 104. 104twitter @meetsamir Hack#17: BuiltWith DoubleClick, Twitter Ads, AdRoll, RocketFuel, MailChimp, AppNexus, GA, CloudFront etc
- 107. 107twitter @meetsamir Hack#20: ListBuilder A free way to collect the email addresses of users who visited your site. Impact on Growth: • Build your subscriber list and easily download it as a CSV • Integrates with other email services and allows you to use your own custom email form
- 108. 108twitter @meetsamir Hack#21: Long Copy Hack
- 109. 109twitter @meetsamir Hack #22: SellHack
- 110. 110twitter @meetsamir • Unplayable videos • Faulty redirects • Smartphone-only 404s • App download interstitials • Irrelevant cross-linking • Page speed Hack #23 : Mobile Site Killer Hacks
- 111. 111twitter @meetsamir 1. Mobile Bid Adjustments : Need to get on top positions because of form factor, bid higher for location based targeting. 2. Mobile Preferred Ads : Separate mobile/desktop, Call directly or provide a promotion based on time. Different URL for mobile. 3. Call Extensions: Ad scheduling based on call center, Your own number or Google’s forwarding number 4. On Site Call Conversions: Track calls from phone number embedded on website when users need to reach more before they buy Hack #24 : Mobile SEM Hacks
- 112. 112twitter @meetsamir Hack #25 : Exit Intent Hack
- 113. 113twitter @meetsamir Hack #26 : Deploy Inbound Software