f&f marketing lesson of the day: lean startup marketing
Post on 13-Sep-2014
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A marketing lesson on how digital businesses use innovative techniques to drive traffic to their websites and grow their audiences.TRANSCRIPT
Lean Marketing for Broke Startups
By: Marcus Lee, Project Director, @MarcusJulienLee
The Lean Startup by Eric Ries A book written in 2011 by this
guy Replace traditional marketing
with experimentation Definitely had online businesses
in mind “Validated Learning”
Try an idea Measure It Repeat what works Try something else
Your Product = Your Marketing
Job Opening: Growth Hacker (WTF?) Growth Hacking—How do I get more users?
Aaron Ginn defines a growth hacker as: “One who’s passion is pushing the metric through use
of testable and scalable methodology” I define growth hacking this way:
A marketing mindset that involves taking creative risks and testing them in order to accelerate product
Even though I think it’s more of a mindset then a position, some startups are actually hiring “Growth Hackers”
The Lean Marketing Funnel
Goal is to build a self-perpetuating marketing machine where the cost of growing your customer base is $0.00
Case Studies: Dropbox User Onboarding• 200 milllion users• Worth $4 Billion• Spent almost no
money on advertising• They tried. Would
be $400 per new customer on Adwords
• Invested in their user onboarding to make visitors into customers
1. Signup Driven homepage (above)1. Easy signup process
2. Making it social1. Sharing with simplicity2. Product referrals with
incentives3. Social Media – more
sharing, more data space
Case Studies: Upworthy Content Strategy Upworthy is making social
good videos go viral. Around 10M unique views per
month in the first year Attracting readers not
pageviews Test different content in
different locations Pop-ups that ask for social
follows 419% more FB likes
Make 25 headlines for every single story Can be the difference between
8,000 views and 474,000.
Case Studies: Tinder One of my favorite
grow hacks of all time – Tinder
Founders were at USC Held exclusive frat
parties where people had to download the app to get in.
Built a local following 1,000 users on a
campus>>>1,000 users around the country
Key Takeaway #1 The key to a successful business is not the
size of your marketing budget! Testing creative ideas Agility – Adjust and Adapt Measuring Actual Progress Knowing your customers
Key Takeaway #2 Be innovative in your marketing approach.
Don’t be afraid to take risks! Don’t copy any of the techniques! They probably
won’t work for you! However, these cases contain lessons about
consumers. Starting point for your marketing adventures.
Reid Hoffman – Founder of LinkedIn “Building a startup is like jumping off a cliff and building an airplane on the way down.”