You need to think more. @annaqcheng Growth Marketing
My name is Anna Cheng. I do growth for Spaceship. @annaqcheng Growth Marketing
1. What is the difference between growth marketing and traditional marketing? 2. First principles of growth and how to think like a growth marketer 3. Spaceship’s Viral Waitlist @annaqcheng Growth Marketing
What’s the difference between growth marketing and traditional marketing? c @annaqcheng Growth Marketing
What’s the difference between growth marketing and traditional marketing? c CBF @annaqcheng Growth Marketing
Growth Marketing vs Traditional Marketing Traditional @annaqcheng Growth Marketing
Growth Marketing vs Traditional Marketing Traditional Growth @annaqcheng Growth Marketing
Growth vs Marketing In organizations where engineering is completely separate, technology tasks to support marketing are almost always de-prioritized. @annaqcheng Growth Marketing
Anna’s growth philosophy “You can’t sprinkle growth on top of the product as an afterthought. Product should be used as a vehicle for growth, driven by data.” @annaqcheng Growth Marketing
To be successful in growth, you need to know how to think . @annaqcheng Growth Marketing
@annaqcheng Growth Marketing
Start your thinking or reasoning with the most essential facts. @annaqcheng Growth Marketing
@annaqcheng Growth Marketing
Don’t underestimate how much time you need to be spending on the fundamentals. @annaqcheng Growth Marketing
Fail. Often. With your eyes open. Growth Marketing
Tools to use for tracking the process Prioritising: PIE Scoring @annaqcheng Growth Marketing
Tools to use for tracking the process Doing: Kanban Board @annaqcheng Growth Marketing
Tools to use for tracking the process Tracking @annaqcheng Growth Marketing
Books to read to learn more: The Lean Startup - Eric Ries The Checklist Manifesto - Atul Gawande @annaqcheng Growth Marketing
Where did I even start? @annaqcheng Growth Marketing
Where did I even start? Understand your customers @annaqcheng Growth Marketing
Prime yourself to think about people Creating simple customer personas will help you know which features to build/test to acquire and retain more users, rather than guessing and wasting marketing money. Growth Marketing
Hubspot Customer Persona Template BACKGROUND: •Basic details about persona’s role •Key information about the persona’s company •Relevant background info, like education or hobbies DEMOGRAPHICS: •Gender •Age Range •HH Income (Consider a spouse’s income, if relevant) •Urbanicity (Is your persona urban, suburban, or rural?) IDENTIFIERS: •Buzz words, mannerisms Growth Marketing
Hubspot Customer Persona Template GOALS: •Persona’s primary goal •Persona’s secondary goal CHALLENGES: •Primary challenge to persona’s success •Secondary challenge to persona’s success HOW WE HELP: •How you solve your persona’s challenges •How you help your persona achieve goals Growth Marketing
Hubspot Customer Persona Template REAL QUOTES: •Include a few real quotes – taken during your interviews – that represent your persona well. This will make it easier for employees to relate to and understand your persona. COMMON OBJECTIONS: •Identify the most common objections your persona will raise during the sales process. Growth Marketing
Hubspot Customer Persona Template MARKETING MESSAGING: •How should you describe your solution to your persona? ELEVATOR PITCH: •Make describing your solution simple and consistent across everyone in your company. Growth Marketing
Don’t try to scale this process if you’re not at scale. @annaqcheng Growth Marketing
Talk to your customers in their language, not yours. @annaqcheng Growth Marketing
Test and track each step of your growth funnel Growth They hear about us We have their attention. (ie. Signup) They’ve tried the product. We’ve delivered value. They stuck around/they’re coming back for more. We’ve extracted some value for ourselves $$ Happy customers invite others Growth Marketing
Test and track each step of your growth funnel Growth Marketing
Acquisition: Get them interested Growth Marketing Ba
The Bullseye Framework Bullseye is a framework that lets you ideate and prioritise your growth initiatives. It also helps you track what channels you’ve tested, results and new ideas. Book to read on this: Traction: A Startup Guide to Getting Customers by Gabriel Weinberg Growth Marketing
Bullseye: 19 channels for traction 1. Viral Marketing: Incentivizing your customers to refer other customers. 2. Targeting Blogs: Target the blogs your prospective customers are reading. 3. Publicity: Getting your name out there via news outlets, magazines, TV, etc. 4. Unconventional PR: Publicity stunts, self published media. 5. Search Engine Marketing: Placing advertisements on search engines. 6. Social and Display Ads: Advertisements on social media and other websites. 7. Offline Ads: Newspapers, billboards, direct mail, etc. 8. Search Engine Optimisation: Using keywords & content to attract traffic to your website. 9. Content Marketing: Writing blogs and articles to gain a loyal following. 10. Email Marketing: Emails! 11. Engineering as Marketing: Making useful tools that expose customers to you. 12. Business Development: Making strategic, mutually beneficial connections. 13. Sales: Just what it sounds like. Push. 14. Affiliate Programs: Paying a person or company to get sales or leads. 15. Existing Platforms: Facebook, Twitter, Snapchat, earned audience 16. Trade Shows: Great for fostering interactions between vendors and prospects. 17. Offline Events: Helps to attract customers to one place. 18. Speaking Engagements: One effective pitch can make a world of difference. 19. Community Building: Investing in connections among your customers. *Lifted this from: http://blog.sticksnleaves.com/2016/01/28/early-marketing-the-bullseye-method/ Growth Marketing
The Bullseye Framework Growth Marketing
Channel example: Virality Your users and customers bring you new users and customers without you having to advertise or ● market to those users via: Word of mouth: Users and customers organically tell their friends about you ○ Inherent virality: User value increases when their friends sign-up (e.g. LinkedIn, Whatsapp) ○ Collaboration: Products benefit from having other users on them you can work with (Trello) ○ Communication: The product is meant for communicating so you need the people you ○ communicate with to use it (Slack) Incentives: Your users can earn rewards by getting their friends to sign up (Airbnb) ○ Embedding: Your product can be embedded on other people’s sites, so new users are ○ exposed to it (Youtube) You’re trying to achieve viral loops . Source: Zapier Growth Marketing
Case study: Spaceship’s virality Growth Marketing
Case study: Spaceship’s virality Growth Marketing
Case study: Spaceship’s virality Growth Marketing
Case study: Spaceship’s virality Growth Marketing
Case study: Spaceship’s virality Growth Marketing
Anna’s Referral Principles Only use an incentivised referral program if word-of-mouth/organic referrals are low and your ● product needs to kickstart/amplify the network effect to survive (like PayPal) Try to use an incentive that would improve the user’s experience of your product/service ● because it will feed back into retention Things to watch out for (cost-benefit analysis): Diminishing returns at (massive) scale ● “As the network got bigger and bigger, the value of the network itself exceeded any sort ○ of carrot that we could offer.” - Elon Musk (PayPal) Customer Acquisition Cost (CAC) exceeding Customer Lifetime Value (CTV) ● Signups/shares are free to do so referral systems are often gamed/exploited, which can ○ make it incredibly costly and turn off high-quality influencers who don’t want to be associated with spammy behaviour. Use profit to determine the referral reward for referring paying customers ○ Growth Marketing
Q&A Growth Marketing Ba
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