payumoney startup growth masterclass kolkata

#GrowKolkata @PayUmoneyIGD

The StartupGrowth Masterclass

#GrowKolkata | @PayUmoneyIGD


PayUmoney India Growth Drivers“PayUmoney is more than an online payments solution. We are partners in your venture growth”

Offline:High impact workshops/ Events

Online:IGD Platform


Every person has an image of who he/ she wants to be. Your product/ service needs to ensure that you take the user closer to this lifelong quest in the simplest possible manner.


HomeBrewed Growth Stories• Cloud Catalogue : m-commerce for

SMEsHacking early growth in Gurgaon

• Infinity Assurance : Insuring your gadgets

Raised 3.8 Crores from IAN

• Twikster : set up your e-commerce store the awesome way!

A hack for a niche target audience


What’s unique about this pricing page?


Can an interesting advisory board be a growth hack?Ask the team at Infinity Assurance. They raised the first round of funds relatively quickly compared to many other startups.

The biggest strength they have is an advisory team which has helped them create a powerful distribution across 10 cities in 6 months.


Let the user be ‘emotionally’ and ‘propositionally” be in control!


How do you grow at the idea stage?1. Content Marketing (tell powerful, moving stories)

2. Language is everything!

3. Audience segmenting + Community building

4. Imagination and the ‘what if’ landing page

5. Build mindshare, reduce friction


Remove the imaginary wall that you create when you call a human on the other end ‘your customer’. He’s as much a human as you!

Now build your story & your venture!Download the e-book: Do You Collide With Your Customers from Amazon!


Ask for help!

The most genuine way to do it is “if you believe someone can actually add value to what you’re building, tell them. Then invite them over and simply talk about your mission”

Leave it right here. Wait for the inspired one’s to revert.


Content = powerful, moving stories!Remember the good old days, when your grandma used to tell you stories of kings, queens, super heroes may be!

Stories involve. Stories ignite imagination.

Stories drive action. Stories make people share!


Sandi MacPherson did an incredible job of using powerful content to grow Quibb amongst the early adopters.

Sandi MacPherson did an incredible job of using powerful content to grow Quibb amongst the early adopters.

A Quibb GDC Breakfast meet


A personal Email nails it. This is the beginning of a relationship and not a ‘transactional customer-business engagement’


Powerful stories work.The proof: FirstRound, a highly admired venture capital firm creates high quality content which shares ‘key learnings’.

PayUmoney, the online payments company from India uses content to help Startups and SMEs get massive visibility and get their growth challenges discovered by the one’s who can solve them!


Meet, Neetzan Zimmerman!In November 2013, Zimmerman, was responsible for more traffic to Gawker than all of the rest 20 writers combined.

Source: https://medium.com/@morganb/what-does-this-guy-know-about-virality-that-no-one-else-does-955e1efc17f9


Language is everything.Look around, everyone’s looking to create a door for opportunities to knock.

Help them create those doors in your language. Your positive communication will create a VIRAL impact.

The hack: ask this question from everyone you meet:

how can I help you?


Audience SegmentingBuild a clear ‘archetype’ of your audience.1. Age2. Income group3. Geographical location4. Needs5. Choices6. Is he/ she married?

And every possible piece of information which helps you ‘know the person personally’.


Build a passion community! Its magical!There’s nothing more powerful than getting like minded people together around a certain context.

If others share your context to the extent that they will passionately share your word, you have a large game at hand.


Imagination and the ‘what if’ landing pageImagine if every startup attending this Startup Growth Masterclass today, looking to raise money, gets discovered on “PayUmoney India Growth Drivers” platform?

Imagination is a powerful tool to engage humans. The critical caveat is: be honest. Don’t sell.

Create a world where this “imaginative solution” that you propose, solves the real world problem and see the receivers reaction.


Build mindshare between the problem and ‘you’You can’t control when people see great opportunities. But you can make sure that they think of you first.

At an idea stage, ensure that you meet people like a problem solver. They must appreciate your value in their life.


How do you grow at the MVP stage?1. SPEED matters : build the must have

product that your user imagines as a solution!

2. Build an MEP instead : the minimum experiential product!

3. Emails are magical : if done right!!


When you are invited to be part of something far bigger than your normal life, you buy into the much bigger vision, satiating your-self.

*BTW, your users are like you!


Hack: Build a personal entertainment system in under $50.This should make your customers “imagine” and “experience” your solution and believe that they will pay you for the future of personal entertainment.


Establish a framework of growth (things to measure and improve upon)

1. Acquisition2. Activation3. Retention4. Referral5. Revenue6. Churn


A product will not grow by itself. It needs distribution.At PayPal our initial user base was 24 people, all of whom worked at PayPal. Acquiring customers through banner advertising proved too expensive.

However, by directly paying people to sign up and then paying them more to refer friends, we achieved extraordinary growth. This strategy cost us $20 per customer, but it also led to 7% daily growth.


How Spotify builds products?Set a clear “human definition” for your product/ service.Use words which map “human emotions” to your product features.

The products are designed to be easy, personal, and fun.

Even Metallica, long known as die-hard opponents to music streaming services, now say that Spotify is “by far the best streaming service” and are “stunned by the ease of it”.

Source: http://quibb.com/links/how-spotify-builds-products/view


How PayUmoney removed complexity and built features which users fell in love with!

The SMEs wanted to go slow and adopt technology of which they already know: Email and SMS.

All we did, was build over these existing tech layers!


1.Email Invoice2.SMS Invoice3.PayUmoney Button


How Watsi got people to donate with a wildly successful Email campaign?What we ended up with was an email that reads like a real-life introduction to a person, like, ‘This is Chanda. He’s a 14-year-old student in Cambodia who needs surgery to use his hands again after severe burns, and is really happy to connect with you to get the treatment he needs,’”

Source: http://firstround.com/review/what-startups-can-learn-from-watsis-wildly-successful-email-campaign/


How do you grow once the product/ service is LIVE?1. Be awesome and Be Trustworthy

Build on human nature!

2. Human psychologyTriggers that work!

3. Be aggressive. Respect time*Be discoverable : SEO + Push people’s interest in other people

4. PR works. You like it OR not!


How @PayUmoney’s Buyer Protection Guarantee increased transaction volumes for SMEs and Startups?Its not about a ‘transaction’. Its about ‘how safely can I transact’, ‘what will happen if the transaction gets stuck somewhere’, ‘who will protect my rights as a consumer’?

The BPG is the simplest and the most powerful answer for small businesses and it worked!


The Karma Hotspot!Every time a new user finds your hotspot and logs onto it, you’re rewarded with 100 megabytes of extra data


Medium does it beautifully well!

If I liked Oguz’s story that I read it till the end, it pulls me to read more of him. And that’s perfectly how it should be!


Google: usage of calendar!

Logic: expecting a user to add events to a Google calendar was not always the most optimal fashion of making every Gmail user actively use Google Calendar.

Google added ‘add to calendar’ call to action within your Email. So now when you get an Email like “call tomorrow” Google automatically asks if you would like to add it to your Google calendar!


Get a phone number. Create a scalable in-bound process!Source: aircall


But how do you build distribution as a nature?1. Define your product’s core value, the key atomic

unit. Eg:1. Medium: post2. Dropbox: file3. Twitter: tweet4. Instagram: picture

Linkedin uses this beautifully well when it suggests “Who’s viewed your profile”.


Incredible psychological triggers:

• The in-group effectWe tend to like and trust people who we feel are similar to us. This also affects our decision making.

• The ohh Iv seen a similar thing effectAffinity breeds automatically for things that you can relate to with a past experience.

• There is safety in numbersWe tend to believe in something that many others already believe in


image via source 6

Airbnb photography program was launched in 2010. Hosts could schedule a professional photographer. The service became an instant hit

Source: TC

http://www.gettingmoreawesome.com/2010/11/24/airbnb-leverages-craigslist-in-a-really-cool-way/

http://techcrunch.com/gallery/a-brief-history-of-airbnb/slide/23/


How to get great PR, without spending a bomb!!HARO/ HASO: most startups keep looking for PR. The trick to get great PR is to add value to a story which a reporter is doing.

Use HARO/ HASO lists to add value to stories that journalists around the world are doing. You might get published in the Huffington World tomorrow!


Be where your customer are.

BUT, don’t be where they most expect you to be!

*Tissue papers by hike app!*Flipkart and Citibank ATMs (as seen in June May 2015 at a Citibank ATM)


Retention is always more important than Acquisition.Hashtaag.com : pushing notifications to facebook increased daily active user base by 70% compared to the previous month.*The venture is now closed


What internal factors affect growth?

1. Team2. Common sense!


Team!


Just ensure, no BS!

1. Keep it very very lean

2. Let go of the one’s who don’t match up to the speed of growth that the venture requires.


Who should look after growth in your team?

Everyone in your team must have understanding of these analytics and every week everyone must know how the market is growing!

Hire the head of growth after the first 1000 users


The biggest growth hack:Common sense!

You could be data driven and that’s exactly where the fault lines lie. In early days of growth data is always to be inspired by NOT be driven by.


Paritosh SharmaHead, SME and Channel Partner BusinessPayUmoney, PayUbiz

Email: [email protected]

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