Planning for Customer Growth by Stephen Neville

Stephen Neville (@wheressteve) discusses strategies that help businesses plan, measure and optimise for customer growth.

Transcript

1. PLANNING FOR CUSTOMER GROWTH
2. “If you build it they will come” - Ray Kinsella, 1989!
4. Acquiring customers = $$
5. Distribution hacking, growth hacking, growth engineering, viral loops, engines of growth, lean marketing, inbound marketing… …positive, repeatable, customer relationships in the most efficient manner possible!
6. 1. Make something of value 2. Your funnel is your friend 3. Go fishing (& good measurement)
7. 1. Make something of value 2. Your funnel is your friend 3. Go fishing
8. “focus relentlessly on achieving product/market fit” - Marc Andressen (Moziaic, Netscape, Ning, Andressen Howitz… and a whole lot of other stuff) “sustainable growth programs are built on a core understanding of the value of your solution in the minds of your most passionate customers” - Shaun Ellis (Logmein, Dropbox, KissMetrics, Qualaroo)
9. Net Promoter Score: Would you recommend this product to a friend? Quantifying value Avg. +10 -15, World Class. +50 “Very” Recommendation >40% Focus on funnel metrics, transitioning for growth <40% Keep iterating product, positioning and targeting
10. Find out why Knowing why you matter informs your messaging through the remaining stages of growth
11. 1. Make something of value 2. Your funnel is your friend 3. Go fishing "
12. 1. Make something of value 2. Your funnel is your friend 3. Go fishing "
13. The Funnel
14. AARRR Acquisition - users come to site from various channels Activation – customers use product for the first time Retention – customers come back multiple times Referral – customers refer others Revenue – customers make your business money Things you are in control of now - Dave McLure (500 Startups)
15. Acquisition Activation Referral Retention Revenue
16. Acquisition Activation Retention Revenue Referral 20 100 20 10 (10%) (2%) (1%) (2%) 1,000 (*$67 = $670) v1.0 ($1000) Example only: totally made up numbers
17. Acquisition Activation Retention Revenue Referral 40 200 40 20 (20%) (4%) (2%) (4%) 1,000 (*$67 = $1340) v1.0 v2.0 ($1000) Example only: totally made up numbers
18. Activation
19. Retention
20. Revenue
21. Referral
22. To make life easier To help others To build relationships To build our identity Why we share Paul Adams (Head of Brand @ Facebook)
23. Referral “Fortunately, we spent almost all our effort on making an elegant, simple product that ‘just works’ and making users happy”
24. 1. Make something of value 2. Your funnel is your friend 3. Go fishing " "
25. 1. Make something of value 2. Your funnel is your friend 3. Go fishing (Acquisition) " "
26. Pond Fishing
27. Pond Integrations
28. Ocean Fishing
29. 1. Make something of value 2. Your funnel is your friend 3. Go fishing " " "
30. Tools of the Trade: Data
31. Tools of the Trade: Insight
32. Tools of the Trade: Testing
33. Tools of the Trade: Cohorts
34. Reading List http://www.justin.tv/startuplessonslearned/b/262672510 http://www.youtube.com/watch?v=irjgfW0BIrw Customer Development Case Study: Dropbox Startup Mertics For Pirates Sean Ellis Noah Kagan Dave Mclure Andrew Chen http://www.youtube.com/watch?v=X88sztwM-fg Growing Your Startup
35. Thanks Stephen Neville @wheressteve! au.linkedin.com/in/stephenneville/!