[webinar] the growth playbook from $0 to $1 billion - with mike volpe
TRANSCRIPT
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Mike VolpeFormer CMO at HubSpot
@mvolpe
The growth playbookfrom $0 to $1 billion
#UTwebinar @UserTesting
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I joined HubSpot in 2007 as the fifth employee and grew the marketing team to 90 people. I love chocolate, lead generation, whiskey, Excel, red wine, marketing metrics and Jay Z. I have advised and invested in more than a 20 different startups and hired over 100 marketers.
I’m Mike Volpe, or@mvolpe on Twitter.
Hi.
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AGENDA1. Category Creator vs Better Mousetrap2. Align Sales & Marketing with Business Strategy3. Create Competitive Advantage in Everything You Do4. Evolve Faster with Shorter Cycles5. Hire Exceptional Marketers6. Manage Well with Org Structure & Process in Marketing
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1 Category Creator vsBetter Mousetrap
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Which Business are You?
Better Mousetrap Big Market w/$$$ Start in last place Hard to compete with
established players“Why would I switch?”
Category Creator New Market w/$0 You are #1! (out of 1) Hard to create a new
market “Why do I need
this?”
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2 Align Sales & Marketing with Business Strategy
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Align Sales & Marketing with Business Strategy
http://www.forentrepreneurs.com/startup-killer/
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Align Sales & Marketing with Business Strategy
Viral / Free Product, No Sales Reps
Content, SEO, Social with Inside Sales
SDR Cold Call Sourcing, Inside Sales
Outside Enterprise Sales
Low LTV
Medium LTV
High LTV
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Align Sales & Marketing with Business Strategy
Content, SEO, Social with Inside Sales 80-90% of leads were
unpaid (inbound) 90% of new customers
from those leads 40% channel / agency
Low / Medium LTV ($800/mo)
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3 Create Competitive Advantage inEverything You Do
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Competitive Advantage
Technology Data Network
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Competitive Advantage: Not Just for Product
HiringSalesMarketing
Content (High authority)
Create Category (Inbound Mktg)
Channel(Agencies)
Process(Free Trial)
Tools(Website Grader)
Best Place to Work
Boston(not Silicon Valley)
Culture Code
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4 Evolve Faster with Shorter Cycles
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Measure often.
Evolve faster.
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Generations per year
Quarterly = 4 Monthly = 12 Weekly = 52
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Monthly Goals Tracked Daily
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Monthly Goals Tracked Daily
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0%20%40%60%80%
100%Actual Leads Leads Goal
Business Days Left in Month
% P
rogr
ess
to L
eads
G
oal
React to Alarms to Ensure SuccessCreate new offersPublish morePromote moreIncrease paid ads
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5 Hire Exceptional Marketers
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Desired Skills for Great Marketers
Digital Analytical Reach Content
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DIGITALLook for people who speak “digital” without an accent.
Digital natives or immigrants are both fine as long as they have full digital citizenship.
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ANALYTICALEveryone should be more analytical than the average person in their role elsewhere.
Even a writer should want to evaluate their performance using metrics.
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REACHGreat marketers leave evidence that they have a gravitational pull.
They have done something that “attracted” people to them or their work before.
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Find people who create content by their nature, not arm twisting.
You do not want content creation to be a chore.
CONTENT
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SKILLS BY FUNNEL STAGECloseConvertAttract
Key Skills• Blogging• Social Media• SEO• Writing, Design, Creative
D A R C
Key Skills• Optimization: LPs, CTAs, Workflows• Analytics• Lead Scoring
D A R C
Key Skills• Product expert• Teacher / trainer• User testing• Messaging• Persuasion
D A R C
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Interviewing Marketers1. Funnel Question2. Lead Scoring Question3. Website Homepage Question
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The Funnel Question“Pretend you're the CMO for this company, and you have to decide on what your marketing team should focus. What do you do?"
25,000 Visitors
250 Leads
100 Sales Ready Leads
25 Opportunities
5 Customers
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The Lead Scoring Question“I just emailed you an Excel file of 10,000 leads with data like company size and industry for each of them, and you can see the 200 leads that became customers. How can you use that data to make a lead score to help us prioritize leads in the future?”
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The Website Homepage Question“The CEO likes version A, the COO likes version B, and the company is evenly divided. Which homepage do you launch?”
Millions Love Our CompanyText text text Text text text Text text text Text text textText text text Text text text Text text text Text text text Text text
[Video]
Make More Money With Us• Text text text Text
text text Text text text Text text text text text
• Text text text Text text text Text text text
• Text text text Text text text Text text text Text
[Picture 1]
[Picture 2]
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6 Manage Well with Org Structure and Process
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Organization by Team Size
AttractAttract, Convert + Close
Team = 9Team = 3Team = 1 Team = 18
ConvertClose
Attract (2)Convert + Close
OR
Attract (5)Blog = 2
Offers = 1SEO/SM = 1Design = 1
Convert (2)
Close (2)
Attract (9)Blog = 3
Offers = 2SEO/SM = 2Design = 2
Convert (6)By Persona, Geo or Sales Team
Close (3)PM / SE Split, or
by Product
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HubSpot Mktg Org Over Time2012(25 ppl)
2009(8 ppl)
2007(2 ppl)
2014(70 ppl)
VP• Lead gen & inbound background• Management of 15
College Grad• 2 internships• Generalist
ToFu Team• 3 people
MoFu Team• 3 people
Teams by Channel (email, blog, social)
MoFu Teams byPersonas
Prod Mktg
VP/Dir Content
VP/Dir Funnel
VP/Dir Product Mktg
VP/Dir Brand & Buzz
(detail on next slide)
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HubSpot Marketing in 2014
Dir. Product Mktg (~12)
VP Funnel (~30)
VP Content(~12)
Dir. Brand & Buzz (~13)
Results / Metrics• Website visitors• New contacts generated
Activity• Blog articles• Ebooks & webinars• Other content
Results / Metrics• Marketing pipeline• Sales goal %
Activity• Lead nurturing• Lead scoring• Sales alignment• Optimization
Results / Metrics• Sales test scores• % sales selling various features
Activity• Product content• Sales enablement
Results / Metrics• PR hits• Event #s and feedback• Satisfaction of others
Activity• PR & Events• Creative: Videos, graphics, design
CloseConvertAttract
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Monthly Process for TeamsGoals for
month set by CMO
Teams decide on activities
Teams execute on activities
Teams report on metrics /
activity
CMO Feedback to
Teams
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Summary: Keys to Success1. Category Creator vs Better Mousetrap2. Align Sales & Marketing with Business Strategy3. Create Competitive Advantage in Everything You Do4. Evolve Faster with Shorter Cycles5. Hire Exceptional Marketers6. Manage Well with Org Structure & Process in Marketing
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Thank You!If you liked this, you should:Follow me on Twitter www.twitter.com/mvolpeSubscribe to my blog (0-2 articles / month):
www.MikeVolpe.comI’m on the Snapchat bandwagon too:
https://www.snapchat.com/add/Mike-Volpe
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Questions?
Learn more from Mike at MikeVolpe.com
Questions about UserTesting? Email [email protected]
#UTwebinar
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