how to growth hack your way to startup traction - entrepreneurship 101
TRANSCRIPT
How To Growth Hack Your Way To Startup TRACTION
By
Jeff Goldenberg
Who Am I?
What Is TracEon?
Quantitative evidence of customer demand. Traction is a sign that something is working. Traction trumps everything
John Doe / CEO
What Does TracEon Look Like?
NO YES 10,000 Facebook Fans
10,000 App Downloads
10,000 Emails Collected
120% ROI on Facebook Ads
40% Weekly AcEve Users
First 1,000 Paying Customers
Focus on What Can’t Be Faked!
I Wrote a Book
100 Growth Hack Recipes
Recommended tools and soVware For non-‐technical marketers
9 Case Studies on some of the fastest growing companies like Shopify, Zenefits and Frank & Oak
The Stages of Growth
Growth
TransiEon To Growth
Product-‐Market Fit
Product – Market Fit
Growth
TransiEon To Growth
Product-‐Market Fit
Value ProposiEon and Buyer Personas
Interview 100 Customers
Talk to Some Real Experts
Figure Out Your Unit Economics
CAC= 1/3 LTV
Track Your Key Metric Obsessively
Find a Great Name for your Product/Business
Build Your Minimum Viable Product
PrioriEze and then A/B Test
Test The Most Important Things First
Sample A/B Test: The Decoy Effect
Plan A $20
Plan B $50
Plan A $20
Plan B $30
Plan C $50
VS
Talk to you Customers on a Full Time Basis
Add an Email Lead Magnet
Collect and Segment Your Email Addresses
Install Heat Maps
Keyword Research for Content Keywords
Start a Blog
Upgrade Your Branding
Watch Users Interact with your Site
Create Awesome Forms and Score Your Leads
Micro-‐Test Your MVP on AdWords
Pre-‐Target Your Email List
Bullseye Methodology – Round 1
Bullseye Methodology – Round 2
This is the RIGHT WAY to Launch a Business
• Minimizes cash burn • Tests early and tests oVen • Constant communicaEon with customers • Cheap and Accessible Technology • SystemaEzes Learning
CASE STUDY: Frank & Oak
• Pivoted off of first business Modasuite • Pre-‐launch got them 12,000 signups • Viral Loop got them tons of referrals • “Premium Threads for Under $50”
The UlEmate List of Excuses to Not Launch Your Business
like a Growth Hacker
There’s NEVER been a Bejer Time To Launch A Business
