athens bullseye meetup #1
TRANSCRIPT
Athens Bullseye Meetup #1
Everything About Startup Traction & Growth Hacking Marketing
Get To Know Each Other
Startup Growth Talk
The Bullseye Framework
How We Will Do It
#BullseyeAth
If you don’t know each other, now it’s time for you to do so.
Feel free to introduce yourself and chat about what
you’re working on.
Let’s Get To Know Each Other
#BullseyeAth
Let’s see some examples of startups with outrageous growth and
understand the dynamics of traction. Unfortunately, state-of-the-art
product development is not enough.
Startup Growth Talk
#BullseyeAth
A startup is a company designed to grow fast...The only essential thing is growth. Everything else we associate with startups follows from growth.” – Paul Graham
The #1 reason that we pass on entrepreneurs we’d otherwise like to back, is their focusing on product to
the exclusion of everything else.” – Marc Andreessen
They spent too much time on the product and not enough time on growth and distribution.
The Ugly Truth
About the Traction
Book
Gabriel Weinberg is the Founder & CEO of
DuckDuckGo, the search engine that doesn't
track you with over a billion searches in 2013.
Previously he was the Co-founder & CEO of
Opobox, which was sold to United Online in
2006 for $10 million.
Justin Mares is the former Director of
Revenue at Exceptional, a software company
that Rackspace acquired for 8 figures in 2013.
He has previously founded two startups (one
acquired, one bust) and runs a growth meetup
in San Francisco.#BullseyeAth
Startups Get Traction
Through 19 Traction
Channels
#BullseyeAth
Viral MarketingGet your users to market for you.
Public RelationsGet your name out there via traditional media.
Unconventional PRGet your name out there via traditional media.
Search Engine MarketingReach hundreds of millions of people by advertising on search engines.
Social & Display AdsAdvertise on social mediaand websites to reach millions of potential customers.
Offline AdsReach customers offline via TV, Radio and Print advertising.
Search Engine OptimizationGet to the top of search engines.
Content MarketingUse your blog to educate and reach customers.
Email MarketingReach and convert your prospects with targeted emails.
Engineering As MarketingUse engineering resources to build tools that acquire customers.
Targeting BlogsTarget popular blogs to reach new audiences.
Business DevelopmentUse partnerships to acquire millions of customers.
SalesSell your product to enterprises and other customers.
Affiliate ProgramsGet affiliates to sell your product for you.
Existing PlatformsTie your growth to a larger platform like Facebook, Pinterest or the App Store.
Trade ShowsGet customers and partners by participating in industry trade shows.
Offline EventsCreate an event to bring customers to you.
Speaking EngagementsGive speeches to groups of potential customers.
Community BuildingBuild a community around your company or product.
1. Brainstorming
2. Ranking
3. Prioritizing
4. Testing
#BullseyeAth
5. Focusing
1. BrainstormingThe goal in brainstorming is to come up with reasonable ways you might use each traction channel.
You should know what marketing strategies have worked in your industry, as well as the history of
companies in your space. It’s especially important to understand how similar companies acquired
customers over time, and how unsuccessful companies wasted their marketing dollars.
2. RankingThe ranking step helps you organize your brainstorming efforts.
Which traction channels seem most promising right now?
Which traction channels seem like they could possibly work?
Which traction channels seem like long-shots?
3. PrioritizingNow identify your inner circle: the three traction channels that seem most promising.
The goal is not to to waste valuable time finding your successful traction channel by testing channels sequentially when you can do so
equally well in parallel.
4. TestingThe goal of this step is to find out which of the traction channels in your inner circle is worth focusing on.
When testing, you are not trying to get a lot of traction with a channel just yet. Instead, you are
simply trying to determine if it’s a channel that could work for your startup. Your main
consideration at this point is speed to get data and prove out your assumptions.
4. FocusingThe goal of this focusing step is quite simple: to wring every bit of traction out of the traction channel.
At any stage in a startup’s lifecycle, one traction channel dominates in terms of
customer acquisition.
Repeat The Process
If everything fails, the good
news is you now have data
from all the tests you just did.
Now you know what types
of things are, and are not,
resonating with customers.
#BullseyeAth
How Should We Do It?
Present a very specific startup growth topic
A startup presents their startup growth strategy
Discuss and work on teams on how to solve startup growth issues that participants may have
#BullseyeAth