BDP 7 – Marketing for Pirates

Show Notes Today’s talk is based on Dave McClure’s “500 Startups.” We will take you through the ins and outs of what they call “marketing for pirates.” AARRR! Show Description The Business Design Podcast helps entrepreneurs design and build businesses that succeed on their own even if you take a 6 month vacation. Hosted by Ian Labardee, John Hwang and Scott Andersen, they share their successes and pitfalls and equip you to make daily progress in your business. Resources Marketing for Pirates – “AARRR” Dave McClure – 500 Startups Link to slideshare – http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version Link to youtube presentation – Ignite Seattle – https://www.youtube.com/watch?v=irjgfW0BIrw Conversation Outline Acquisition How do you get people to know about you and to your site? SEO SEM Inbound Marketing Content Marketing Advertising PR Social Media High volume channels Low cost channels Best conversion channels Activation Happy first experience 10-20 seconds on the site # of pages Low bounce rates A/B Testing Retention How to get people to come back? Figure out what are retention measurements Life Cycle Emails +3, +7, +20 days Email open rates RSS click throughs Revenue How you get people to pay for your product? Minimum revenue Break-even revenue Referral How to get people to share about your company/product? Viral co-efficient (x > 1) Only encourage people to refer if your product is worth referring or good Conversion Metrics Multiple Marketing channel High volume channel Low cost channel High conversion channels Types of Metrics and measurements Measure for conversion Less, not more – Choose 5 metrics Measure bottom of funnel not the top of the funnel A/B testing Hypothesis Testing Why is this important to us and how are we using this? Product Management Tool – Focus & Define theme for the iteration/week. Helps keeps tabs on what’s working and not working… (Foundational to build on – Customer Journey Map) If we didn’t have this, I wouldn’t know what to work on and fall back to my engineering tendencies and just work on more features that nobody wants. Prioritization – Visually it helps us focus on what we need to solve first Keeps your eye on the forest and not just the tree Makes metrics and measurements front and center