growth hacking the enterprise sale - san francisco enterprise tech meetup
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This presentation on Growth Hacking was presented by Lincoln Murphy at the San Francisco Enterprise Tech Meetup on September 9, 2014.TRANSCRIPT
Growth Hacking the Enterprise Sale
Presented to SFETMBy Lincoln MurphySeptember 9, 2014
About Me
Customer Success Evangelist at Gainsight Background is Network-Centric Business
Models; not Enterprise Software Gravitated to Growth Hacking - and
Customer Success – movements as I was already doing this at Sixteen Ventures
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
Agenda
Clarity on what “Growth Hacking” is Requirements for Growth Hacking Answer the questions I was given Provide deep-dive resources for you
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
What is Growth Hacking? Growth: A metric we want to improve Hacking: to short-circuit Small Deal Size/Self-Service Model Drove
NEED Doesn’t mean large deal size / Enterprise Sale
can’t MASSIVELY benefit from Growth HackingCopyright© 2014 Lincoln Murphy. All Rights Reserved.
What is Growth Hacking? Building Bridges and Digging Tunnels
Where they are now where they need to be▪ Mindset
▪ Engagement
▪ Buy-In (Champion Uplift)
Exploit Organic Network Effects Your secret weapon – more on this later
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
Growth Hacking Requirements A Culture of Growth Experimentation
Must be OK with false hypotheses (“failure”) Organizational Alignment
Cross-Functional Ability to Execute Autonomously Silos are bad; they appear with company
maturityCopyright© 2014 Lincoln Murphy. All Rights Reserved.
Growth Hacking Requirements Be Data Driven
Everything starts with your Gut (even with data avail)
Be able to quickly iterate (Build – Measure – Learn) Quickly get to a point where decisions are driven
mostly by data, less by opinion & ”pretty” designs HIPPO/VITO/CEO can't be THE voice for very long if
you want to scale
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
Growth Hacking Requirements Align Success Metrics with Reality
Commissions on closed deals? MQL, SQL, etc.? Hypotheses tested? Customer dev interviews? Change if not appropriate Example: Take some BDAs and use then for
testing. Comp separately and based in viable success metric. ▪ Roll winning test variants into production processes
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
http://sixteenventures.com/sfetm
Questions & Answers
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
1. How can B2B businesses hack demand generation?
Demand Generation or Demand Capture?
Depends on market / product category maturity
If demand exists, you need to funnel it your way
If demand doesn’t exist – and assuming it should –
you need to Create, Accelerate & Scale that Demand
Ideal Customer Profile + Awareness Ladder
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
2. How do you generate more leads when search volume is low?
Don’t rely on search if search volume is low
Be at the top for your key search terms
That means Organic & Paid SEM won’t be major channel
Ideal Customer Profile will surface distribution opportunities
You’ll know where you need to be to get their attention and what
you need to do to convert that attention to action
Understand their Buying Cycle and where you can “hack” it
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
3. How can you leverage channels for demand gen?
Who has your Ideal Customer as their primary audience? Adjacent product vendors, consultants, analysts,
etc. How can you motivate them to get you in front of
their audience? WIIFT? Organic Network Exploitation
Understand how they interact with others and figure out how to infiltrate that network
Copyright© 2014 Lincoln Murphy. All Rights Reserved.
4. What tools, techniques & strategies can agile marketers use?
It’s less about the tools and tactics and more about
knowing your audience Who are you targeting?
Who’s your Ideal Customer?
How do they consume marketing? Where are they on the awareness ladder? What bridges / tunnels would work to move them
forward rapidlyCopyright© 2014 Lincoln Murphy. All Rights Reserved.
5. How can marketers measure multi-step conversions?
Understand the entire process (all the steps)
Know what you’re trying to measure
Know what you’re going to do with that data once you have
it.
Build a process to go after ideal customers to reach your
goals
Find the tools that enable / optimize that process
Marketo, KISSmetrics, Hubspot, InfusionSoft, etc.Copyright© 2014 Lincoln Murphy. All Rights Reserved.
6. What are some Key Learnings from Gainsight?
Educate and Elevate Practitioners Boards / Investors Executives
Education – CSU Thought Leadership – Pulse & PulseCheck
Distribution: Leverage partners to spread the word for you
Webinars – Live-event FeelCopyright© 2014 Lincoln Murphy. All Rights Reserved.