Stacking the OddsFor Authentic, Sustainable Growth
Sean EllisFounder & CEO
Qualaroo & GrowthHackers.com
Agenda
• How to determine startup’s growth potential
• Why stacking the odds is critical for reaching your startup’s growth potential
• How to stack the odds for growth
• Case study – How stacking the odds for growth was critical to building a $1B+ company
About Me
• Founder/CEO at Qualaroo & GrowthHackers.com
• Previously VP Marketing from customer zero to IPO filing at LogMeIn & Uproar.com
• Then 6-month marketing roles at Dropbox, Lookout, Eventbrite…
Marketer’s Role?
Marketer’s Role?Realize full growth potential of a product
• Tap into full potential for authentic growth
• Growing beyond potential is unsustainable
• Product/market fit defines potential
P/M Fit Foundation
P/M Fit FoundationFoundation of all sustainable growth
Product/Market Fit
Product/Market FitAuthentic growth requires product market fit• Large group wants or needs your product
Must Have Experience
Measuring P/M FitMeasuring your startup’s growth potentialMust Have QuestionHow would you feel if you could no longer user [Product]?
Usage• Length of visits• Repeat visits
Must Have Experience
Must Have Experience The key asset for a product/market fit startup
• How do “must have” customers use product?
• Ask: What is the main benefit you receive?
• Ask: Why is that benefit important to you?
P/M Fit Foundation
Stacking the OddsCritical for reaching your growth potential
Why Stack the Odds?
Stack the Odds for GrowthOptimize percentage that reach must have experience• Opens profitable marketing channels
• Makes all marketing more profitable
• Beat competition in channels
Stacking the Odds
How to Stack the OddsOptimize to reach your growth potential• Increase desire for must have experience
• Reduce friction to delivering MH experience
Desire – Friction = Conversion Rate
Increase Desire
Increase DesireUnderstand visitor intent
• Ask: What are you hoping [X] can do for you?
• Ask: Does this page make you want to sign up?
• User test for “aha moments”
Reduce Friction
Reduce FrictionFind friction preventing must have experience
• Study funnel analytics for drop offs
• Ask: Anything preventing you from signing up?
• Run usability tests (Usertesting.com)
Start testing variations
Start Testing VariationsTest to increase desire and reduce friction• Strong hooks based on intent research
• Fix issues (fear and confusion friction)
• Testing never stops…
Calibrate growth engine
Calibrate Growth EngineValue delivery machine• Hook and promise connect
• “Promise” about must have experience (authenticity over response)
Must-Have Must-Have experienceexperience
Hook Promise
Organic Growth
Organic GrowthStrong value delivery drives organic growth
• Retention/loyalty
• Word of mouth
• Up selling
P/M Fit Foundation
Scale GrowthJoin Free GrowthHackers.com Community
Case Study
Case StudyOptimization unlocks growth
• Growth before optimization was frustrating
• First 4 months of Optimization: 1000% visit-to-purchase rate improvement
• Growth channels now scaled
• Over $1B valuation today
Key Takeaways
Key TakeawaysOptimization unlocks growth
1. Marketer role is to reach potential
2. Product/market fit defines potential
3. Understand must have experience
4. Increase desire, reduce friction
5. Value machine drives organic growth
THANK YOU!
#startupmarketingconf
