Start Up Growth Hacking: Intro to Building Your Own Growth Engine

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As with most startups, there is little time and budget to waste, so this process of identifying marketing solutions that will drive scaleable and repeatable growth must be prioritized, tested, refined and re-tested using a systematic approach. Experienced growth hackers apply a methodical approach to continually performing this process. Ensure Your Goals for Growth Are Clear This systematic approach includes identifying and continually refining your goals for growth. What are you growing? Subscriptions? Downloads? Usage? The process must also continuously identify opportunities (for new acquisition channels and methods, conversion improvements, messaging modifications, product tweaks, and even new customer segments). Use a Framework to Efficiently Execute and Produce Consistent Results A GOOD (goal-oriented, opportunity-driven) Growth Engine, is a systematic customer-centric process and framework that combines marketing and sales strategy, execution, and technology to power consistent, repeatable and scaleable growth to keep your team focused and efficient as you navigate and accelerate growth. This is the presentation from a webinar for presented on December 2013. [View the recorded version here:


<ul><li>1.Webinar December 19, 2013Intro to: Building Your Own Growth Engine A Growth Hackers Framework for Startup Sales &amp; Marketing</li></ul> <p>2. Agenda *Common Growth Challenges What is a Growth Engine? Building Your Own Growth Engine Preferred Channels Prioritizing Initiatives Tuning Your Engine Finding the Hidden Gold Stepping on the Gas Q&amp;ABUSINESSconsultant 3. *About Me Currently: Previously: Clients have included:Speaking Credentials:BlueDeera Growth Agency 4. Common Growth Issues Head down in build mode Unfocused ad-hoc approach Not core skill set, or not enough bandwidth Under resourced in budget, time Junior or untrained team Not ready to hire senior executive team Shrinking sales - longer sales cycle, reduced margins Missed forecasts No plan Lack of process, tools, support*Whats impeding your growth?BlueDeera Growth Agency 5. What is a Growth Engine?* A systematic process and the organizational infrastructure required to commercialize new businesses. It provides a platform to help companies grow by proactively and repeatedly finding, evaluating, and executing new business opportunities.Its a Systematic Process A growth engine is not a short-term, one-off solution, but rather a comprehensive approach to building disciplined and sustainable capabilities. Once in place, the growth engine has the potential to continuously propel new business innovation, thereby sustaining growth for years to come. - Deloitte, Developing a Growth EngineBlueDeera Growth Agency 6. What about a Growth Hacker?* a professional who uses elements of marketing and market research, along with technology and technical strategies, to provide marketing solutions.. - Technopedia A Growth Hacker derives scaleable, repeatable ways to grow the business. - Sean Ellis of Qualaroo and A Growth Hacker Needs a Framework BlueDeera Growth Agency 7. A Shift in Thinking CURRENT STATEFUTURE STATESilosCustomers ExecutivesSalesMarketingDepartmental agendas Short-term sales targets Company focused ScriptedALIGNMENTSystemsUnified strategy Long-term relationships (LTV) Customer focused AuthenticBlueDeera Growth Agency AcquisitionCreating Value 8. Validation to Company Building *Build with a Growth EngineBlueDeera Growth Agency Images courtesy of ValueChainGeneration 9. Where Are You Headed?*Step 1: Goals (Short and Long-Term) Users Customers Downloads Subscriptions Contracts RevenueBlueDeera Growth Agency 10. Whos Going to Get You There?* Step 2: Focus on the Customer What need are you filling? What pain are you solving? Who do your target customers see now as filling that need? How are you different? What channels do your target customers prefer to find services such as yours? Who are the top influencers in their buying decision?Facts Exist Outside the Building, Opinions Reside Within So Get the Hell Outside the Building Steve BlankBlueDeera Growth Agency 11. Develop Buyer Personas*BlueDeer Images courtesy of KISS Metricsa Growth Agency 12. Attributes of a Buyer Persona*BlueDeera Growth Agency From 13. Acquisition Channels*Customers Drive GrowthAccording to Eric Ries, author of The Lean Startup there are 4 Ways Customers Drive Sustainable Growth: 1. Word of Mouth 2. The Product 3. Paid AdvertisingBy the time that product is ready to be distributed widely, it will already have established customers. Eric Ries4. Repeat UseBlueDeera Growth Agency 14. Paid, Owned, &amp; Earned Media*Step 3: Discover Your Acquisition ChannelsBlueDeera Growth Agency 15. Typical Acquisition Channels*PartnersNews/PRBlogsVideo and WebinarsEmailSocialSEOAd NetworksBlueDeera Growth Agency 16. Analyze Your Channels*BlueDeera Growth Agency 17. Analyze Existing Conversions*BlueDeera Growth Agency 18. Acquisition ChannelChannel TypePriorityChannel Reach (Rate 1,2,3)Channel Time to Cash (Rate 1,2,3)Channel CAC Channel Channel CAC Estimate Conversions ActualPrioritize Channels for Testing*Google Organic SearchEarned Media111$25TBDTBDTech PressEarned Media122$50TBDTBDWord of Mouth/Customer ReferralEarned Media121$15TBDTBDEmailOwned Media132TBDTBDTBDGoogle PPCPaid Media212$150TBDTBDFacebook AdsPaid Media212$150TBDTBDCompany Blog and WebsiteOwned Media232$15TBDTBDStrategic PartnersPartner213$75TBDTBDGuest BloggingEarned Media322$50TBDBlueDeerTBDa Growth Agency 19. Review Acquisition Channels*Step 4: Surround Your Target Customer(s)BlueDeera Growth Agency 20. Look for Opportunities*According to Ries, there are 3 Engines of Growth: 1. The Sticky Engine of Growth 2. The Viral Engine of Growth 3. The Paid Engine of GrowthTUNE YOUR ENGINE!BlueDeera Growth Agency 21. Become a Funnelholic*Step 5: Where does your engine need tuning? Not enough new prospects entering the top of the funnel? Not enough of the right prospects High acquisition costs Underutilized channels Slow velocity through the funnel Prospects stuck in the wrong stages Not enough prospects reaching your funnel goalPURCHASE FUNNEL The purchase or purchasing funnel is a consumer focused marketing model which illustrates the theoretical customer journey towards the purchase of a product or service.BlueDeera Growth Agency 22. Know Your Funnel*BlueDeera Growth Agency 23. Know Your Funnel*BlueDeera Growth Agency 24. GOOD Growth Engine Funnel Prepare Customer-Centric Strategy User/Customer Acquisition TacticsAttract Engage NurtureGoal OrientedConvertOpportunity Driven$ Upgrade BlueDeer$$$$$a Growth Agency 25. Tuning Your Engine *Test new programs Use an integrated cross-channel approach Create content that inspires Optimize conversion points G.O.O.D. Goal Execute efficiently and consistently Oriented Review KPIs Opportunity Driven KaizenBlueDeera Growth Agency 26. Track Results and Costs*Track results G.O.O.D. and continuously Goal re-prioritize! Track pilotOriented results and Opportunit re-prioritize y DrivenBlueDeera Growth Agency 27. Test New Programs*G.O.O.D. Continuously Goal search for Oriented new Opportunit opportunities y DrivenBlueDeera Growth Agency 28. Manage Your Team*G.O.O.D. Goal Continuousl y Oriented search for Opportunit new y Driven opportunitie s Keep your engine running smoothly with clear goals and deliverables BlueDeera Growth Agency 29. Stay Focused on the Customer *Relentlessly pursue customer delightBlueDeera Growth Agency 30. Build Your Own Growth Engine* DiscussionQ&amp;A BlueDeera Growth Agency 31. Contact Us to Learn More Chris Bechtel Principal, BlueDeer LLC Growth Hacker and CMO 424-625-8773*GET HELP WITH YOUR ENGINE!Twitter: @chrisbechtelBlueDeera Growth Agency </p>