Dan Olsen, The Lean Product Playbook , @danolsen
Room: C260
Everyone working on a new product is trying to achieve the same goal: product-market fit. Although product-market fit is one of the most important Lean Startup concepts, it’s also the least well defined. Dan Olsen shares the top advice from his book The Lean Product Playbook, including the Product-Market Fit Pyramid: an actionable model that breaks product-market fit down into 5 key elements. Dan also explains the Lean Product Process, a 6-step methodology with practical guidance on how to achieve product-market fit, illustrated with a real-world case study.
(Last change, July 2: Removed as beyond most teams' scope Eyetracking Study, Clickstream Analysis, Usability Benchmarking; Added Live-Data Prototypes, Demand Validation Test, Wizard of Oz Tests)
For our teams tasked with building products and features for The New York Times, we face a common challenge with many: how do we figure out what’s worth spending our time on?
The answer seems straightforward: test your ideas with real customers, leveraging the expertise of your product, UX, and engineering talent. Figure out the smallest test that you can come up with to test a specific hypothesis, gather data and insights, and keep iterating on it until you know whether the problem is real and your solution will prove valuable, usable, and feasible.
As part of our efforts to adopt such a data-driven, experimental approach to product development, we recently kicked off a product discovery pilot program. Small, cross-functional teams were paired with coaches and facilitators over a six week period to demonstrate how product discovery and Lean Startup techniques could work for real-world customer opportunities at The New York Times.
One of the first things that we learned about the process from our participants was that they wanted a "toolkit" - something to help them figure out what they should be doing, asking or making to get as quickly as possible towards the validated learning, prototypes and user tests that would have the most impact.
To help the facilitate the learning process for our dual-track Agile teams, the Product Architecture team here at The Times (Christine Yom, Jim Lamiell, Josh Turk, Priya Ollapally, and Al Ming) built a "Product Discovery Activity Guide" that rolled up activities, exercises, and testing techniques from all our favorite thought leaders.
This included brainstorming exercises from Gamestorming and Innovation Games, testing techniques from traditional user research, and rapid test-and-learn tactics from Google Ventures, Eric Ries (The Lean Startup), Jeff Gothelf (Lean UX), Steve Blank (Customer Development) and our spirit guide, Marty Cagan (Inspired), among others.
Our goal was to make it a tool not just for learning how to get started, but to be a living document for teams to share knowledge about the process itself. What techniques worked and didn't work? What tactics did they learn elsewhere that might be worth sharing with the rest of the company?
We hope you find it useful, and whether you’d like to share with us what you’re doing with it, or you have suggestions (big or small) to improve it for future product generations, please let us know! (nyt.tech.productarchitecture@nytimes.com)
Al Ming
July 2015
This document discusses the concept of a growth hacker and strategies for sustainable growth. A growth hacker focuses on scalable growth through experiments and data analysis. Their goal is viral and repeat growth through word of mouth, embedded social features, paid advertising, and recurring use. The document provides examples of how companies achieve growth through these channels and outlines psychological factors that influence word-of-mouth sharing. It emphasizes thinking like a growth hacker by constantly considering growth opportunities across communication platforms.
This document discusses building a Minimum Desirable Product (MDP) rather than a Minimum Viable Product (MVP). It recommends focusing on understanding user goals and creating a product that maximizes engagement and sustainable growth through a few key scenarios. An MDP can be built quickly in 4-6 weeks to test if people will use it daily and recommend it to others. The document cautions that desirability alone may not lead to viability, so MDP ideas still need to consider business feasibility. The goal of an MDP approach is to deliver compelling consumer value through the optimal minimal set of features.
These are my slides from a free public workshop I conducted for JCI Beirut about the basics of Social Media Strategy that includes examples of brands that do not have a proper strategy, defining your goals, the sales cycle, asset mapping, defining your audience and creating personas, choosing channels, voice & tone, posting frequency & time, crisis management, and understanding Facebook's algorithm.
This document provides a template for creating a digital marketing plan using the RACE framework (Reach, Act, Convert, Engage). It includes recommendations and worksheets to define opportunities, strategies, and actions for each stage of the customer lifecycle. The template emphasizes creating SMART objectives, integrating digital and traditional marketing, and optimizing tactics like content marketing, social media, and conversion rate optimization. Expert members can access additional guides, templates, and online courses to develop a comprehensive digital marketing plan.
A talk I gave at Google on Strategy and Product Discovery
We discussed:
Discovering Features and Products (Product Strategy)
Discovering Products and Product Lines (Product Line / Company Strategy)
Marty Cagan: Using High Fidelity Prototypes for Product Discovery
This is a 5-step model for creating a metrics framework for your business & customers, and how to apply it to your product & marketing efforts. The "pirate" part comes from the 5 steps: Acquisition, Activation, Retention, Referral, & Revenue (AARRR!)
Google's Official Note to Product Management CandidatesLewis Lin 🦊
Google's official note to product management candidates
Updated October 2016
Uploader's Note
Google's Text Borrows Heavily from my Google PM prep blog post from 2013: http://www.impactinterview.com/2013/09/google-product-manager-interview/
This deck aims at providing entrepreneurs, startup employees and young product managers a toolbox of actionable digital product management tools & techniques. It will help them discover, design & launch great products.
Product Development with Spotify's Product ManagerProduct School
Companies treat the role of product management differently. Miles Davis, Product Manager at Spotify, shared how they articulate the product development process at Spotify and the role and expectations of a PM.
From Zero to a Million Users - Dropbox and Xobni lessons learnedAdam Smith
Drew Houston and Adam Smith discuss how their startups Dropbox and Xobni reached 2 million users in 2 years through focusing on product-market fit, learning from early users, and designing viral features. They emphasize the importance of talking to potential users early, generating buzz through scarcity and word of mouth, and optimizing the user funnel through metrics to understand what drives acquisition and retention.
How I apply the Value Proposition Canvas to convince my clients to invest mor...Matina Moreira
This document discusses the Value Proposition Canvas methodology for understanding customers' needs and pains. It introduces the speaker, Matina Moreira, and provides an agenda for the presentation. It then gives an example of using the Value Proposition Canvas for a case study about creating a job finding service for senior professionals. Key aspects of the canvas are explained, including creating a customer profile listing pains, gains, and tasks, and mapping these against potential products and services to find the best fit. The speaker explains how she uses the canvas methodology at the beginning of new projects and with clients to build empathy for customers.
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationJason Evanish
An overview of the first two stages of Steve Blank's Four Steps to the Epiphany: Customer Discovery and Customer Validation. Includes in depth advice on the customer development interview as well.
I'm writing a book on How to Build Customer Driven Products based on tactics like the ones in this presentation. You can sign up to learn more here: http://eepurl.com/RZoO9
TikTok Facebook Stories Instagram Stories Social Media Success Feb 2022Jonny Ross
This document discusses using TikTok, Facebook Stories, and Instagram Stories for business marketing. It provides an overview of each platform and their key user demographics and engagement stats. Examples are given of campaigns run by Fortnite, the NBA, Minimalist Baker, and Buffer that utilized trends, challenges, recipes, and quizzes. Best practices outlined include using interactive features, directing audiences to websites, and creating paid ads that catch attention. The document advocates using simple, authentic, and engaging content tailored to each platform's audience.
The document discusses the Customer Development methodology for startups as an alternative to the traditional Product Development model. It argues that Customer Development should be treated as equally important as Product Development from the beginning. The Customer Development process involves four steps: Customer Discovery, Customer Validation, Customer Creation, and Company Building. The goal at each step is to learn about customers through experiments and feedback rather than assume the business model is correct from the start.
This document discusses the importance of timing for startup success and provides examples of startups that succeeded or failed based on their timing. It emphasizes exploring trends, technologies, regulations and demographic shifts that could impact markets in the future. Startup founders are advised to focus on disruptive innovations and understand factors like how large companies struggle with disruption due to their structures. Understanding customer needs and penetrating customer communities directly is presented as an advantage for startups over large companies.
Customer Interviews Lessons After 300 Interviews by Zillow Sr PMProduct School
Main Takeaways:
1. Before the interview, set clear goals and align with your team:
-What do we want to learn at a high level?
-What questions do we want to ask?
-What types of interviews do we want to conduct?
2. During the interview, focus on the customer ("the customer is king/queen"):
-Use the 80/20 rule and listen 80% of the time and talk 20%
-Make the customer feel at ease by treating the meeting as a conversation, not an interview
-Ask open-ended questions and... listen
3. After the interview, debrief with your team:
-What went well and what can be improved?
-What were the big takeaways?
-Share big takeaways with the whole team and start prioritizing!
Data Analytics for Startups - Tetuan Valley Startup School Fall 2015Justo Hidalgo
This document contains an agenda and slides for a data analytics workshop. The workshop covers metrics for different stages of the customer lifecycle including acquisition, activation, retention, referral, and revenue. Key metrics discussed include conversion rates, churn rates, lifetime value, and monthly recurring revenue. Case studies are presented for different companies and how they measure user activation, retention, and virality. The presentation emphasizes measuring meaningful metrics that provide insights rather than just vanity metrics, and having dedicated staff to track metrics over time.
Pivot Pyramid - A guideline to experiment with and pivot your startup★ Selcuk Atli
In a presentation at the Accelerate Ottawa conference, 500 Startups Venture Partner Selcuk Atli introduced the Pivot Pyramid Framework. Pivot Pyramid is an intuitive and visual process that founders can rely on as they experiment with their startup in search for product market fit. It explains how companies can pivot in different areas of their company such as customers, problem, solution, technology and growth - and how these changes affect each other.
The Innokin iTaste MVP is an electronic cigarette with the following key specifications and features:
- Battery capacity of 2600mAh with output voltage adjustable between 3.3-5V.
- Maximum output current of 3A with circuit protection.
- Features a puff counter and voltage display that can be adjusted in 0.1V increments.
- Can charge other devices through its micro-USB port while its high capacity battery allows all-day vaping.
The minimum viable product (MVP) is the minimum set of features needed to learn from early adopters and avoid building products that nobody wants. It maximizes learning per dollar spent and is probably much more minimum than you think. An MVP allows achieving a big vision in small increments through iteration without going in circles chasing what customers think they want. The unit of progress is validated learning about customers through techniques like smoke testing landing pages, in-product split testing, and customer discovery to minimize the total time in the build-measure-learn loop.
The document provides tips on pitching startups to investors. It emphasizes that investors care most about traction, which is demonstrated through profit, revenue, customers or pilot customers using the product. If a startup has strong traction in a large market, they can raise money even with just an okay product and team. The document recommends startups get some level of traction, such as testing their idea with potential customers, before seeking funding from investors. It also suggests using introductions, elevator pitches, high-concept pitches, and slide decks to tell a compelling story when pitching to investors.
We've gathered the most surprising, horrifying, and enlightening sales statistics on cold calling, social selling, sales training, and much more.
Whether you are a sales rookie or an experienced veteran, these 21 sales stats will knock your socks off and perhaps inspire you to improve the way you sell. Enjoy and share!
The document discusses life after bypass surgery and provides alternatives according to Ayurveda to prevent blockages and the need for bypass surgery. It recommends following a proper lifestyle as described in Ayurveda, including a healthy diet low in calories and fried foods but high in fruits and vegetables. It also suggests regular exercise like walking, yoga, and relaxation techniques along with maintaining positive relationships and attitudes to allow one to live actively even after bypass surgery.
The UK nuclear inspection industry has invested heavily over 40 years in developing inspection technology and training personnel. This includes support for new technique development from both industry and government. The UK's investment has made it a world leader in nuclear inspection technology. Doosan Babcock provides integrated inspection solutions around the world, drawing on expertise gained from inspections done in numerous countries. It tests inspection systems using realistic mockups before applying the systems at actual plant sites. All inspections are qualified following standards like ENIQ to ensure reliable defect detection.
High Rent Vacancy: Not Actually Automatic Deregulation.
Throughout the residential housing industry, there is dangerous ignorance of the amendments promulgated this year, amending the Rent Stabilization Code. All owners should be reading as much as possible about these amendments. Business is simply not the same as it was.
One of the massive changes is in the notice that an owner must give to a new tenant immediately after deregulating the premises for rent that has gone above the $2,500 threshold. Prior to 2014, it was enough for the landlord to furnish the new tenant with a copy of the annual rent registration immediately following the deregulation. Under the old rules, the owner delivered it to the new tenant the later of 30 days after the registration or 30 days after signing a lease with the new tenant. That requirement is preserved.
Startup Metrics for Pirates (Startonomics Beijing, June 2009)Geeks On A Plane
This document outlines Dave McClure's presentation on startup metrics. It discusses the AARRR framework for measuring acquisition, activation, retention, referral, and revenue. McClure emphasizes keeping metrics simple, focusing on actionable metrics, and using an iterative feedback loop to continuously optimize and improve based on data. He also provides examples of metrics for different roles like CEO, product, and marketing.
The document provides an overview of using metrics to make better decisions for startups. It discusses moving from tracking vanity metrics that are easy to measure to actionable metrics that matter. An example is given of a SaaS web app that tracks key metrics like sign-ups, activations and upgrades at each step. The actual baseline results are compared to assumptions, and different tests are discussed, like a video test that decreased conversions and an inspired test that increased revenue. The importance of learning faster through tests and data is emphasized, as is measuring faster and minimizing the time to get customers through the process.
The document provides an overview of startup metrics using the AARRR framework. It discusses how to measure key metrics around user acquisition, activation, retention, referral, and revenue. For each stage, it outlines example metrics to track, tools to use, and tips for improving performance. The goal is to help startups understand their customer lifecycle and focus on metrics that provide actionable insights to optimize their business model.
Explains the key drivers for a Freemium software offering with measured examples of companies that have accomplished it. Such as Dropbox, EverNote, Freshbooks, and others.
The document discusses startup metrics and focuses on the AARRR model, which stands for Acquisition, Activation, Retention, Referral, and Revenue. It emphasizes optimizing the customer experience and prioritizing the most critical metrics like usage, retention, and revenue. The overall message is that startups should iterate quickly, test different metrics and conversion funnels, and optimize for both user happiness and business outcomes.
Startup Metrics for Pirates (Nov 2012)Dave McClure
This document summarizes Dave McClure's presentation on startup metrics and building a minimum viable product (MVP). The key points are:
1) McClure introduces the AARRR framework for measuring startup success - Acquisition, Activation, Retention, Referral, and Revenue.
2) To build an MVP, focus on understanding customer problems and testing solutions using measurable conversion metrics like usage, signups, retention, and referrals.
3) An MVP should start with the minimum needed to validate a problem and solution with customers through iterative testing and optimization. The goal is product/market fit before worrying about features or launch.
Startup Metrics 4 Pirates (Wildfire Interactive, May 2012)Dave McClure
The document discusses startup metrics and focuses on the AARRR framework, outlining key concepts like MVP, PMF, and metrics for acquisition, activation, retention, referral, and revenue. It provides examples and recommendations for constructing an MVP, testing for product/market fit, designing marketing campaigns, and choosing metrics to focus on for winning in the market.
Startup Metrics for Pirates (Twiistup, Jan 2010)Dave McClure
slides from my talk at Twiistup (LA, Jan 2010). note these slides are almost exactly the same as my previous talk earlier this week in San Francisco... so yes, i'm stealing my own shit.
whatEVer.
Startup Metrics 4 Pirates (DogPatch Labs, Boston, March 2010)Dave McClure
The document provides an overview of startup metrics and models presented by Dave McClure at Dogpatch Labs Boston in March 2010. It discusses the AARRR pirate metrics model for measuring acquisition, activation, retention, referral, and revenue. It emphasizes the importance of defining key metrics and conversion funnels, testing marketing channels, and optimizing products and marketing using fast iteration and A/B testing to improve conversions.
The document discusses startup metrics and provides a model called AARRR for measuring the success of a startup. The AARRR model focuses on Acquisition, Activation, Retention, Referral, and Revenue. It describes each step of the model and provides examples of metrics and goals for activation and retention, which involve getting users to engage with the product and come back to the site. The document also discusses approaches for testing features and marketing channels to improve conversions at each step of the AARRR model.
How to be a Web 2.0 Metrics Jedi (Web 2.0 Expo, April 2009)Dan Olsen
How to use metrics to optimize your product, marketing, and business by Dave McClure, Dan Olsen, and Ted Rheingold at O'Reilly San Francisco Web 2.0 Expo, April 2009.
Conversion conference london nov 2011 - multi channel testing - craig sullivanCraig Sullivan
Cross channel testing tips including how to optimise your call tracking, call centres, contact methods, contact flows. Also how to deflect, manage or remove cost from contact handling.
This set of slides also covers our optimisation process, results and shows some case studies.
If you're a serious marketer, cross channel is going to be vital for you in 2012.
Silicon Valley 2.0: Lean Startup, Lean VCDave McClure
This document discusses the evolution of venture capital and startups, enabled by new technologies and business models. Specifically:
1. Lower costs and online platforms have lowered barriers to building products and acquiring customers.
2. Successful startups are using metrics and iterative development to quickly validate products and business models.
3. Incubators and accelerators are making many small bets to identify the few startups that succeed, through mentoring and collaborative environments.
4. Venture capital is also making many small bets through incremental funding, focusing on validating products, markets, and revenue before larger investments.
5. Global trends are creating new opportunities for startups to reach global audiences and expand internationally.
This document discusses metrics for product marketing and management. It introduces the AARRR framework for understanding the customer lifecycle, which stands for Acquisition, Activation, Retention, Referral, and Revenue. Each step of the lifecycle is defined. The document also provides examples of conversion metrics and percentages at different stages, and discusses qualitative and quantitative measurement approaches. It emphasizes testing marketing channels and features to improve conversion rates.
• 1. Techniques to Increase ConversionsFor Your SaaS BusinessHiten ShahKISSmetrics Webinar • February 22nd, 2011
• 2. Twitter Hash Tag #measure
• 3. SaaS: Software as a Service
• 4. SaaS Sales Models• Customer Self Service (sign up and pay online) • Examples: 37signals, Zoho, Dropbox• Transactional Sales (inside sales)
• 5. SaaS Pricing Models• Paid Sign Up (no free trial or free plan) • Examples: CrazyEgg, Mozy• Free Trials (timed trials) • Examples: 37signals, Backupify• Freemium (free forever → upgrades) • Examples: YouSendIt, LogMeIn, Evernote
• 6. CrazyEgg Pricing BeforeFreemium (free forever → upgrades) Visited Site Free Sign Up Upgraded
• 7. CrazyEgg Pricing AfterPaid Sign Up (no free trial or free plan) Visited Site Sign Up Pay
• 8. CrazyEgg Results• Sign ups decrease by 10x• Doubled revenue in the first month• 2 years later, 25% of the revenue is from free customers• There is a free plan in CrazyEgg’s future =)
• 9. Funnel Testing & Optimization
• 10. Macro Conversions“ It’s important not to get distracted by intermediate metrics like the click-through rate of the button itself...we only care about the customer behaviors that lead to something useful” Eric Ries, The Lean Startup
• 11. Activation• Web analytics application • Install javascript code and start tracking data• Project management application • Create first project and invite a person• Customer relationship management application • Add their first contact and follow up with them• Customer support application • Receive and respond to a customer support request
• 12. SaaS Macro Conversion Funnels
• 13. 5 Step Process for Funnel Optimization
• 14. Baseline your macro conversions
• 15. Identify optimization opportunities• Which step has the highest drop off?
• 16. Gather qualitative data• Identify conversion barriers• Surveying • Survey.io, KISSinsights, Wufoo, SurveyMonkey, etc...• Usability Testing • In-person, UserTesting.com, FiveSecondTest, etc...• Example • Task completion survey http://kiss.ly/biUD9L • SaaS plans page survey http://kiss.ly/f9ZlAb
• 17. Create and implement A/B tests• Many ways to improve funnels• Modify your steps • Combine, remove or change the order of steps. • Add UI elements to guide users• Test your designs • Headlines, images, buttons, microcopy, etc... • Try radical variations
• 18. Measure against your baseline, rinse & repeat
• 19. Segmenting Your Customers
• 20. Account type segmentation http://rowfeeder.com/plans
• 21. Company size segmentation http://box.net/pricing
• 22. Custom segmentation
• 23. Custom segmentation data
• 24. Testing Your Call to Actions
• 25. Funnel A/B Testing Rules!
• 26. Survey, segment, analyze & then create tests 27. Segment and analyze
• 28. Don’t copy “best practices” blindly
• 29. Learn what works best for your customers
• 30. 3 Techniques for Increasing SaaS Conversions
Startup Metrics for Pirates (March 2009)Dave McClure
Slightly updated presentation from my talk at http://EntrepreneurTrek.org at Stanford University (March 2009). note: basically same as FOWA talk, minor update added slide 17.
Slides from the talk at BLN CEO Tales by Eric Ries, The Lean Startup, 16th January 2012.
Also includes supporting material including: 'The myths of lean'.
Thanks to DFJ Esprit, TechCity, Brown Rudnick, Fidelity Growth Partners, Microsoft BizSpark, Red Gate and Springboard - for making such an excellent evening possible.
For more information about BLN events in the UK and US: http://thebln.com
Similar to Startup Metrics for Pirates (SeedCamp, Sept 2009) (20)
How to VC: Creating a VC fund portfolio modelDave McClure
This article aims to help VCs figure out how to size a venture capital fund, how many companies to include in your portfolio, and when and how to do follow-on investments. Most VCs aim to make a 3X (net) return on initial fund capital, at a ~20% net IRR. Note however, likely less than 10% of most VC funds achieve that goal.
Basic concepts of marketing and branding for venture capital. Emphasis on competitive differentiation (aka "How are you different/better than other VCs in your category?"). Specific focus on defining areas of "value add" that aren't BS.
How to define and position your VC brand to attract funding and dealflow.
* note: more recent updated version below:
https://www.slideshare.net/dmc500hats/branding-strategies-for-better-dealflow-and-fundraising-aka-the-helpful-vc
Tech and Venture Capital in the Time of Corona Dave McClure
Isomer Capital is a private investment firm based in London that focuses exclusively on venture capital investments in European companies. It makes primary investments in VC funds as well as direct co-investments in companies. It has notable portfolio unicorns, investments in over 30 funds across 6 countries, and underlying portfolio companies. Venture capital has delivered strong returns over the past 25 years, outperforming other major asset classes like stocks and bonds. The European VC market has also outperformed the US market over the past 20 years based on Cambridge Associates indices.
This document provides advice on how venture capital firms can position themselves competitively through branding, marketing, and clearly communicating their value proposition. It emphasizes defining an investment thesis focused on specific industries, stages of funding, and deal sizes. It also stresses developing a unique value-add service that portfolio companies need and marketing activities to generate dealflow. Finally, it discusses fundraising by targeting the right limited partner profiles and addressing their needs and motivations for alternative investments.
Bringing Silicon Valley to LatAm: Startup Ecosystems & InvestmentDave McClure
Dave McClure is a founding partner at 500 Startups, a $350 million venture capital fund and startup platform. He discussed 500 Startups' strategy of making many small investments in early-stage startups, with the goal of a few large exits. He explained how 500 Startups supports startups through different investment stages as they progress from validating their product to achieving revenue and growth. McClure also talked about opportunities for building startup ecosystems in Latin America and Miami, noting the need for more venture capital funds and critical factors like mentorship, capital, and a path to exits.
Dave McClure is the founding partner and chief troublemaker of 500 Startups, a global seed fund and startup platform. The document provides biographical details about McClure's background and career, which spans from being an entrepreneur and developer in the 1980s and 1990s to becoming an investor and venture capitalist through funds like Founders Fund and 500 Startups. It also summarizes 500 Startups' strategy of making many small, early-stage investments in startups across different countries and industries in hopes that some will achieve significant growth and success.
Take a Walk on the Dark Side: Branding for Startups & Sith LordsDave McClure
This document provides advice on branding for startups and emphasizes embracing negative emotions and controversial positioning to stand out. It recommends focusing a brand on a single element, being different than competitors by taking risks early, and not worrying about offending some people. Further, it suggests tapping into human emotions like fear, sex, power and anger; being a hero or villain rather than boring; using pictures over words; and always staying authentic while bringing out your most passionate self.
Dave McClure, a founding partner at 500 Startups, gave a presentation on technology trends in 2017. He discussed how startups have become cheaper, faster, and better. He also talked about how VCs are making lots of small bets through many new, small funds. McClure highlighted several investment areas including fintech, AI, AR/VR, blockchain, and other new technologies. He emphasized 500 Startups' strategy of making many small investments to find the next big winners.
Farming Unicorns: Building Startup & Investor Ecosystems for Emerging MarketsDave McClure
The poem describes the Statue of Liberty and the values she represents. The statue stands welcoming at the "sea-washed, sunset gates" of America, holding a torch to guide immigrants. Her name is "Mother of Exiles" and she offers a "world-wide welcome" to "the tired, the poor, [and] the huddled masses yearning to breathe free." She invites "the homeless, tempest-tost" people of the world to come to her, lifting her lamp "beside the golden door" of opportunity in America.
Farming Unicorns in Emerging Markets (Dubai, Oct 2016) #GitexDave McClure
Dave McClure is a founding partner at 500 Startups, a global seed fund and startup accelerator. 500 Startups has invested in over 1700 companies across 60+ countries. McClure discussed building startup ecosystems in emerging markets like MENA. He said the critical factors include optimism, mentorship, universities/talent, capital/infrastructure, product skills, platforms/customers, payments, and exit opportunities like IPOs and acquisitions. The most important thing is developing a culture of innovation and entrepreneurship locally, even if not physically located in Silicon Valley.
Farming Unicorns: Building Startup & Investor EcosystemsDave McClure
This document discusses building startup ecosystems and the 500 Startups investment strategy. It begins with Dave McClure's background in venture capital and entrepreneurship. It then discusses 500 Startups, which is a $250 million global seed fund and accelerator that has invested in over 1,600 companies across more than 20 countries. McClure outlines 500 Startups' strategy of making many small "moneyball" style bets on early stage startups. He believes this approach maximizes the chances of finding unicorns, or billion dollar companies, despite the high failure rate of startups. The document concludes by discussing the critical factors for building strong startup ecosystems and emphasizes the importance of fostering an entrepreneurial spirit.
500 Startups #Batch17 #DemoDay: "Beauty and the GEEK"Dave McClure
This document provides information about Batch17 Demo Day, an event hosted by 500 Startups to showcase their accelerator and portfolio companies. Some key details include that the event will feature 20 countries and 25+ languages represented among 150 attendees. 500 Startups has managed $250 million across multiple funds and supported over 500 accelerator companies and 600 companies started outside the US, including over 400 with women co-founders. The portfolio includes 3 unicorns (companies valued over $1 billion, one of which had an IPO), over 300 "ponies" valued between $10-99 million, and 37 "centaurs" valued between $100-999 million. Information is also provided on 500 Startups' various funds, programs, and
Dinosaurs vs Unicorns aka "Bubble My Ass, All Dinosaurs Gonna Die" (London, J...Dave McClure
my talk on corporate innovation (or the lack thereof), the death of many dinosaurs, the survival of a smart few Raptors, and how to avoid getting trampled by Unicorns.
Farming Unicorns: Building Startup & Investor Ecosystems (Madrid, June 2016)Dave McClure
This document summarizes Dave McClure's presentation on building startup ecosystems and investing strategies. The key points are:
1) McClure discusses 500 Startups' strategy of making many small "spray and pray" investments in early stage startups to increase the chances of finding a unicorn.
2) He outlines the typical stages and structures of startup investments from incubation to growth, focusing on validating products, markets, revenue, and growth at each stage.
3) McClure emphasizes the importance of building strong startup ecosystems through factors like capital, mentors, universities, and successful exits to attract more entrepreneurs and investors.
Farming Unicorns: Building Startup & Investor Ecosystems (Dublin, June 2016)Dave McClure
This document summarizes Dave McClure's presentation on building startup and investor ecosystems. It discusses what 500 Startups is and their approach of making lots of small investments. It outlines changes in how startups are built more leanly and how venture capital has adapted a portfolio approach of many small bets. It covers building startup ecosystems by providing capital, community, education and exits. Finally, it discusses questions around defining entrepreneurs and challenges and solutions for investing in new tech markets.
500 Startups / Batch 16 Demo Day (Q1/2016 update)Dave McClure
The document announces Batch 16 Demo Day, a one-day event showcasing 20 early-stage companies from 500 Startups' accelerator and portfolio. Some key details about 500 Startups include that they have $250 million under management, have funded over 1,500 companies across 60+ countries, including over 500 from their accelerator programs and over 500 founded outside the US. The document provides statistics on portfolio company outcomes and funds raised by 500 Startups. It also announces related programs on investor education and global startup support.
'The Attention Game' Report by Mavericks.pdfSocial Samosa
According to the report, consumers perceive long-form content as more accurate and reliable than short-form content with 34% of respondents find long-form writing more credible and engaging than any other format.
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The Rise of Young Chris Hemsworth: From Australian Shores to Hollywood Stardomgreendigital
Introduction
When discussing contemporary Hollywood A-listers, Chris Hemsworth is one name that surfaces. Known for his towering physique, captivating screen presence, and undeniable charisma. Hemsworth has become a household name. But, the journey of young Chris Hemsworth from his Australian roots to global fame is a story of hard work, dedication, and a bit of luck. This article delves deep into the life and career of young Chris Hemsworth. Exploring his early years, breakthrough roles. and the path that led him to become one of the most sought-after actors in the industry.
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Early Life and Background
Family and Upbringing
Young Chris Hemsworth was born in Melbourne, Australia, on August 11, 1983. He raised in a close-knit family. He is the middle child of three brothers, all whom have made their mark in the entertainment industry. His parents, Leonie, an English teacher, and Craig Hemsworth, a social services counselor. provided a nurturing environment that encouraged creativity and exploration.
Growing up, the Hemsworth family moved. living in urban Melbourne and the rugged Australian Outback. This dichotomy of environments instilled in young Chris Hemsworth a love for nature and adventure. traits that would later reflected in his choice of roles and his off-screen persona.
Early Interests and Education
From a young age, Chris interested in sports, particularly surfing. a popular pastime in Australia. His athletic build and natural talent made him a standout in various sports during his school years. But, it was his passion for acting that set him apart. Encouraged by his parents and inspired by his older brother Luke. who had already begun his acting career. young Chris Hemsworth decided to pursue acting.
Hemsworth attended Heathmont College in Melbourne. balancing his academic responsibilities with his burgeoning interest in drama. After completing his secondary education, he enrolled in acting classes. honing his craft and preparing for a career in the competitive entertainment world.
The Early Career of Young Chris Hemsworth
Breakthrough in Australian Television
Young Chris Hemsworth's first foray into acting began with minor roles in Australian television series. His persistence paid off when he landed a recurring role on the famous soap opera Home and Away in 2004. Playing the character of Kim Hyde, Hemsworth became a fan favorite. thanks to his good looks and compelling performances. His time on the show lasted for three years. during which time he garnered significant attention and praise.
"Home and Away" was a crucial stepping stone for Hemsworth. It allowed him to showcase his talent and gain valuable experience. It also provided him with a platform to build a loyal fanbase, a crucial factor in his future success.
Transition to Hollywood
With his reputation growing in Australia, young Chris Hemsworth set his sights on Hollywood. His first significant break came in 2009 when he was cast as George Ki
The Raw Fury and Measured Rage: A Look at Connor Kenway's SpeechRodney Thomas Jr
#SSAPhilosophy #Philosophy #Education #VideoGames #Smooth #Steady #Aggressive #ConnorKenway #AssassinsCreed #AssassinsCreed3 #Justice #CulturalIdentity #Revolution
Welcome to SSA Philosophy, your premier destination for deep dives into the minds and philosophies of iconic characters from video games, movies, and TV shows. In today's episode, we journey into the turbulent world of Assassin's Creed III to explore the intricate character of Connor Kenway. Join me as we dissect "The Raw Fury and Measured Rage: A Look at Connor Kenway's Speech" and uncover the profound layers of his philosophy. Connor Kenway, the half-Mohawk, half-English Assassin, stands out in the Assassin's Creed series for his unwavering commitment to justice, his deep-seated rage against oppression, and his eloquent, impactful speech. His words, often marked by a blend of raw emotion and calculated reasoning, offer a window into his soul and the complex dynamics of his world. Don’t forget to like, comment, and subscribe to SSA Philosophy for more in-depth analyses of your favorite characters. Together, let’s uncover the profound insights and emotional depths embedded in the speech of Connor Kenway.
Link to video: https://youtu.be/2m5UTp7soPc
FROM THE EDITOR'S DESK: 527TH BIRTH ANNIVERSARY OF TULSIDAS - Tulsidas (1497-1623 C.E.) was a Hindu saint and the poet. Tulsidas is renowned for his great devotion towards Lord Rama. Tulsidas composed several works, but he is best known as the author of the epic Ramcharitmanas, a retelling of the Sanskrit Ramayana in the vernacular Awadhi language. Tulsidas was acclaimed to be a reincarnation of Maharishi Valmiki, the composer of the original Ramayana in Sanskrit; YOGA: A POWERFUL MEDIUM FOR WOMEN EMPOWERMENT AND WORLD PEACE - This year the theme of Yoga Day is based on women to promote the physical, mental, emotional, social and spiritual well-being of women by using yoga as a tool.
1. Dave McClure, Founders Fund
http://www.foundersfund.com/
http://500hats.typepad.com/
http://slideshare.net/dmc500hats/
2. Startup Metrics for Pirates
• Acquisition: users come to site from various channels
• Activation: users enjoy 1st visit: "happy” experience
• Retention: users come back, visit site multiple times
• Referral: users like product enough to refer others
• Revenue: users conduct some monetization behavior
AARRR!
(note: If you’re in a hurry, Google
“Startup Metrics” & watch 5m video)
3. 50 Slides + 30 Min = Crap.
The Basics
• Measure Stuff. Keep It Simple.
• 5 Steps: Startup Metrics for Pirates (AARRR!)
• 3 Metrics Frameworks + 3 Roles (CEO, Dev/Product, Marketing)
• Iterate & Optimize. Feedback Loop. (Loop. Loop.)
• One Step at a Time. The “Ass vs. Face” Issue.
Appendix (we won’t have time)
• Activation
• Retention
• Acquisition
• Referral
• Revenue
4. Dave McClure
2001-2009:
• Startup Investor: 500 Hats LLC, Founders Fund
• Tech Marketing: PayPal, Simply Hired, Mint
• Advisor, Angel Investor: 40+ Startups
• Conf. Organizer: Web 2.0, O’Reilly, Startonomics
• Stanford Visiting Lecturer: Facebook, Startup Metrics
80’s & 90’s:
• Entrepreneur: Founder/CEO Aslan Computing (acq.)
• Developer: Windows Apps / SQL DB Admin
• User Groups: E-Commerce, Internet, Client-Server
• Engineer: Johns Hopkins ‘88, BS Eng / Applied Math
7. Web 2.0: Hell Yes, Good Times.
1. # Users, Bandwidth = Bigger.
2. Lower Startup Costs = Badder.
3. PPC, E-Com $ Growing = Uncut.
Collect Usage Metrics in Real-Time
Decisions Based on Measured User Behavior
8. The Startup Metrics Religion
• Progress ≠ Features (Less = More)
• Focus on User Experience
• Measure Conversion; Compare 2+ Options
• Fast, Frequent Iteration (+ Feedback Loop)
• Keep it Simple & Actionable
9. Minimize TOTAL time through the loop
IDEAS
LEARN BUILD
DATA
CODE
MEASURE
Source: Eric Ries,
The Lean Startup
10. There’s much more…
IDEAS
Learn Faster Code Faster
Split Tests LEARN BUILD Unit Tests
Customer Interviews Usability Tests
Customer Development Continuous Integration
Five Whys Root Cause Analysis Incremental Deployment
Customer Advisory Board Free & Open-Source
Falsifiable Hypotheses Components
Product Owner Accountability Cloud Computing
Customer Archetypes
Cross-functional Teams
DATA CODE Cluster Immune System
Just-in-time Scalability
Semi-autonomous Teams Refactoring
Smoke Tests Developer Sandbox
Minimum Viable Product
Measure Faster Funnel Analysis
MEASURE
Split Tests Cohort Analysis
Clear Product Owner Net Promoter Score
Con?nuous Deployment Search Engine
Usability Tests Marketing
Real‐?me Monitoring Real-Time Alerting Source: Eric Ries,
Customer Liaison Predictive Monitoring The Lean Startup
11. The Startup Pyramid
(Sean Ellis, Startup-Marketing.com)
Growth
Transition to
Growth
Product/Market Fit
sean@12in6.com
Blog: startup-marketing.com
12. Q: What’s My Business Model?
Can be one of the following:
1. Get Users (= Acquisition, Referral)
2. Drive Usage (= Activation, Retention)
3. Make Money (= Revenue*)
* ideally profitable revenue
Note: eventually need to turn Users/Usage -> Money
13. AARRR!: 5-Step Startup Metrics Model
SEO Campaigns,
SEM PR Contests
Biz
Social
Networks Dev
Blogs Affiliates
Apps & Direct, Tel,
Widgets Email TV
Domains
ACQUISITION Viral
Loops
Emails & Alerts Homepage / Emails &
widgets
Landing Page
Blogs, RSS, Product Affiliates,
News Feeds Features Contests
Ads, Lead Gen, Biz Dev
System Events & Subscriptions,
Time‐based Features
ECommerce
Website.com
14. Just Gimme the GOOD Metrics.
Users, Pages, Clicks, Emails, $$$...?
Q: Which of these is best? How do you know?
• 1,000,000 one-time, unregistered unique visitors
the • 500,000 visitors who view 2+ pages / stay 10+ sec
good • 200,000 visitors who clicked on a link or button
stuff.
• 20,000 registered users w/ email address
• 2,000 passionate fans who refer 5+ users / mo.
• 1,000 monthly subscribers @ $5/mo
15. Startup Challenges
Startups have problems in 3 key areas:
• Management: Setting Priorities, Defining Key Metrics,
Creating Dashboard, Reporting Progress
• Product: Building the “Right” Features, Getting Product
Out Quickly, Testing for User Conversion / Adoption
• Marketing: Accessing “Web 2.0” Channels (Search,
Social, Viral, New Media), Cost-Efficient Distribution
16. 3 Core Models:
biz model, conversion dashboard, mktg channels
• Define 1-Page Biz Model: customer segments + desired actions / behaviors
• Identify critical Conversion Events & Dashboard for each segment & prioritize
• Test & develop Marketing Channels; measure Volume (#), Cost ($), Conv (%)
Optimize product & marketing using Fast Iteration Cycles & A/B Testing
17. Role: Founder/CEO
Q: Which Metrics? Why?
A: Focus on Critical Few Actionable Metrics
(if you don’t use the metric to make a decision, it’s not actionable)
• Hypothesize Customer Lifecycle
• Target ~3-5 Conversion Events (tip: Less = More)
• Test, Measure, Iterate to Improve
18. The 1-Page Business Model
(Users + Conversions + Priorities)
Q1: What types of people use your website?
• Visitor = Average User / Buyer
• Contributor = Content Contributor / Seller
• Distributor = Passionate Fan (unpaid) / Affiliate (paid)
Q2: What actions could they take to help you or them ?
Visitor Contributor Distributor
(aka “Share Pimp”)
Activation Watch Submit Share/Embed
a slideshow a slideshow a slideshow
Retention Visit 1x/mo. Submit “hi-qual” Share/Embed =>
for 3+ mo’s ppt (=> 1K views/yr) drive 100 visits/mo
every mo. for 3+ mo’s
Revenue Ad Click; $/mo Premium Sub; Drive
Qualified Lead Pay $$+ for traffic or 10+ Premium users;
Generated leads 1K+ Viewers
20. TeachStreet 1-Page Business Model:
Teachers & Students
Teachers Students
Activation • laim Profile
C • ontact Teacher
C
• dd Class
A • iew 3 Pages
V
Retention • isit 1x/mo for 3 mo’s • isit 1x/mo for 3 mo’s
V V
Referral • equest Review
R • uggest Teacher
S
22. Role: Product / Engineering
Q: What Features to Build? Why? When are you “Done”?
A: Easy-to-Find, Fun/Useful, Unique Features that
Increase Conversion (stop iterating when increase decelerates)
• Wireframes = Conversion Steps
• Measure, A/B Test, Iterate FAST (daily/weekly)
• Optimize for Conversion Improvement
– 80% on existing feature optimization
– 20% on new feature development
23. Optimize 4 Happiness $$$
(both User + Business)
• Define States of User + Business Value
• Prioritize (Estimate) Relative Value of Each State
• Move Users: Lower Value -> Higher Value
• Optimize for User Happiness / Business $$$
• Achieve Low Cost + High Value @ Scale
24. Discover Meaning
Keywords, Images, Call-to-Action
Top 10 - 100 words Call-to-Action
• Your Brand / Products • Words
• Customer Needs / Benefits • Images
• Competitor’s Brand / Products • Context
• Semantic Equivalents • Button/Link
• Misspellings • Emotion
Relevant images Result
• People • Positive?
• Products • Negative?
• Problems • Neutral (= Death)
• Solutions • A/B test & Iterate
25. Example Conversion Dashboard
(note: *not* actuals… your mileage may vary)
Stage Conversion Status Conv. Est. Value
% (*not* cost)
Acquisition Visitors -> Site/Widget/Landing Page 60% $.05
(2+ pages, 10+ sec, 1+ clicks = don’t abandon)
Activation “Happy” 1st Visit; Usage/Signup 15% $.25
(clicks/time/pages, email/profile reg, feature usage)
Retention Users Come Back; Multiple Visits 5% $1
(1-3x visits/mo; email/feed open rate / CTR)
Referral Users Refer Others 1% $5
(cust sat >=8; viral K factor > 1; )
Revenue Users Pay / Generate $$$ 2% $50
(first txn, break-even, target profitability)
26. Role: Marketing / Sales
Q: What channels? Which users? Why?
A: High Volume (#), Low Cost ($), High Conv (%)
• Design & Test Multiple Marketing Channels + Campaigns
• Select & Focus on Best-Performing Channels & Themes
• Optimize for conversion to target CTAs, not just site/landing page
• Match/Drive channel cost to/below revenue potential
• Low-Hanging Fruit:
– Blogs
– SEO/SEM
– Landing Pages
– Automated Emails
27. Example Marketing Channels
• PR • Email
• Contest • SEO / SEM
• Biz Dev • Blogs / Bloggers
• Direct Marketing • Viral / Referral
• Radio / TV / Print • Affiliate / CPA
• Dedicated Sales • Widgets / Apps
• Telemarketing • LOLCats ;)
28. MAARRRketing Plan
Marketing Plan = Target Customer Acquisition Channels
• 3 Important Factors = Volume (#), Cost ($), Conversion (%)
• Measure conversion to target customer actions
• Test audience segments, campaign themes, Call-To-Action (CTAs)
[Gradually] Match Channel Costs => Revenue Potential
• Increase Vol. & Conversion, Decrease Cost, Optimize for Revenue Potential
• Avg Txn Value (ATV), Ann Rev Per User (ARPU), Cust Lifetime Value (CLV)
• Design channels that (eventually) cost <20-50% of target ATV, ARPU, CLV
Consider Costs, Scarce Resource Tradeoffs
• Actual $ expenses
• Marketing time & resources
• Product/Engineering time & resources
• Cashflow timing of expense vs. revenue, profit
29. One Step at a Time.
1. Make a Good Product: Activation & Retention
2. Market the Product: Acquisition & Referral
3. Make Money: Revenue & Profitability
“You probably can’t save your Ass and your Face
at the same time… choose carefully.” – DMC
30. Summary
• Measure Stuff. Keep It Simple.
• 5 Steps: Startup Metrics for Pirates (AARRR!)
• 3 Items: Biz Model, Conversion, Mktg Channels
• Iterate & Optimize. Feedback Loop. (Loop. Loop).
• One Step at a Time.
31. Links & Resources
Additional References:
• Influence: The Psychology of Persuasion Robert Cialdini (book)
• Putting the Fun in Functional Amy Jo Kim (etech 2006 preso)
• Futuristic Play Andrew Chen (blog)
• Don’t Make Me Think Steve Krug (book)
• Designing for the Social Web Joshua Porter (book, website)
• Startup Lessons Learned Eric Ries (blog)
• Customer Development Methodology Steve Blank (presentation, blog)
• Startup-Marketing.com Sean Ellis (blog)
• KISSmetrics.com Hiten Shah / Neil Patel (website)
• How To Pitch a VC Dave McClure (slides, NSFW)
34. Activation
SEO Campaigns,
SEM PR Contests
Biz
Social
Networks Dev
Blogs Affiliates Activation Criteria:
Apps & Direct, Tel,
Widgets Email TV • 10-30+ seconds
Domains • 2-3+ page views
• 3-5+ clicks
• 1 key feature usage
Homepage /
Landing Page
Product
Features
do LOTS of landing page
& A/B tests –
make lots of dumb
guesses & iterate FAST
Website.com
35. Activation
What do users do on their first visit?
Example Activation Goals
• Click on something!
• Account sign up / Emails
• Referrals / Tell a friend
• Widgets / Embeds
• Low Bounce Rate
Activation Tips
• Less is more
• Focus on user experience / usability
• Provide incentives & call to actions
• Test and iterate continuously
36. Activation
What do users do on their first visit?
Key Metrics to Track
Pages per visit
Time on site
Conversions
37. Activation
Tools
Crazy Egg (Visual Click Mapping)
http://crazyegg.com
Google Website Optimizer (A/B & Multivariate Testing)
http://google.com/websiteoptimizer
Marketo.com (B2B Lead Generation Management)
http://marketo.com
Resources
Experimentation and Testing: A Primer
kaushik.net/avinash/2006/05/experimentation-and-testing-a-primer.html
Landing Page Design Toolbox: 100 Tips & Tools
http://tinyurl.com/326co6
Landing Page Tutorials & Case Studies
http://www.copyblogger.com/landing-pages/
101 Easy Easy to use Google Website Optimizer
http://conversion-rate-experts.com/articles/101-google-website-optimizer-tips/
39. Retention
SEO Campaigns,
Automated emails: SEM PR Contests
Biz
Social
Networks Dev
• lifecycle emails @ +3, +7, +30d Blogs Affiliates
Apps & Direct, Tel,
• status / “best of” weekly/monthly Widgets Email TV
• “something happened” emails Domains
BUT:
• make it easy to unsubscribe
Emails & Alerts Homepage /
Landing Page
Blogs, RSS, Product
News Feeds Features
Tip on emails:
• > 80% or more on SUBJECT LINE
System Events &
• < 20% or less on BODY TEXT Time‐based Features
Website.com
40. Retention
How do users come back? How often?
Cohort Analysis:
• Distrib of Visits over Time
• Rate of Decay
• Effective Customer Lifecycle
Retention Methods
Automated Emails
* Track open rate / CTR / Quantity
RSS / News Feeds
* Track % viewed / CTR / Quantity
Widgets / Embeds
* Track impressions / CTR / Quantity
41. Retention
How do users come back? How often?
Example Retention Goals
• 1 - 3+ visits per month
• 20% open rate / 2% CTR
• High deliverability / Low spam rating
• Long customer life cycle / Low decay
• Identify fanatics and cheerleaders
Retention Tips
• Email is simple and it works
• BUT make unsubscribe easy
• 80% subject line / 20% body text
• ACTUALLY 99% subject line / 1% body text
• Fanatics = virality + affiliate channel (bloggers?)
42. Retention
How do users come back? How often?
Key Metrics to Track
Source
Quantity
Conversions
Visitor Loyalty
Session Length
45. Acquisition
SEO Campaigns,
SEM PR Contests Biz
Social
Networks Dev
Blogs Affiliates
Apps & Direct, Tel,
Widgets Email TV
Domains
Marketing Channels:
• largest-volume (#)
• lowest-cost ($)
• best-performing (%)
Website.com
46. Acquisition
Where are users coming from?
Acquisition Methods
SEO / SEM
Blogs
Email
Social Media &
Social Networks
Domains
47. Acquisition
Keyword Vocabulary
Top 10 - 100 words
• Your Brand / Products
• Customer Needs / Benefits
• Competitor’s Brand / Products
• Semantic Equivalents
• Misspellings
Things to analyze
• Sources
• Volume
• Cost
• Conversion
48. Acquisition
Where are users coming from?
Key Metrics to Track Example
Quantity (#)
Cost ($)
Conversions (%)
49. Acquisition
Tools
Google Analytics (web analytics)
google.com/analytics
Google Keyword Tool (keyword research tool)
adwords.google.com/select/KeywordToolExternal
SEO Book Tools (SEO related tools)
tools.seobook.com
Resources
SEO Book Blog
seobook.com/blog
The Social Media Manual: Read Before You Play
searchengineland.com/071120-144401.php
Strategies to ruthlessly acquire users
andrewchen.typepad.com/andrew_chens_blog/2007/04/10_obvious_stra.html
51. Referral
SEO Campaigns,
SEM PR Contests Biz
Social
Networks Dev
Blogs Affiliates
Apps & Direct, Tel,
Widgets Email TV Viral
Domains
Acquisition Loops
Emails &
widgets
Emails & Alerts Homepage /
Landing Page
Affiliates,
Blogs, RSS, Product Contests
News Feeds Features
Focus on driving referrals
System Events &
Time‐based Features
*after* users have a
“happy” experience;
Website.com avg score >= 8 out of 10
52. Referral
How do users refer others?
Referral Methods
Send to Friend:
Email / IM
Social Media
Widgets / Embeds
Affiliates
53. Referral
Viral Growth Factor
Viral Growth Factor = X * Y * Z
X = % of users who invite other people
Y = average # of people that they invited
Z = % of users who accepted an invitation
A viral growth factor > 1 means an exponential organic user acquisition.
54. Referral
Tools
Gigya (social media distribution & tracking tool)
gigya.com
ShareThis / AddThis (sharing buttons)
sharethis.com / addthis.com
GetMyContacts (PHP contacts importing & invitation software)
getmycontacts.com
Resources
Seven Ways to GO VIRAL
lsvp.wordpress.com/2007/03/02/seven-ways-to-go-viral/
What’s your viral loop? Understanding the engine of adoption
andrewchen.typepad.com/andrew_chens_blog/2007/07/whats-your-vira.html
Metrics: Where Users Come From
slideshare.net/guest2968b8/rockyou-snap-summit-32508
56. Revenue
SEO Campaigns,
SEM PR Contests
Biz
Social
Networks Dev
Blogs Affiliates
Apps & Direct, Tel,
Widgets Email TV
Domains
Acquisition Viral
Loops
Emails & Alerts Homepage / Emails &
widgets
Landing Page
Blogs, RSS, Product Affiliates,
News Feeds Features Contests
Ads, Lead Gen, Biz Dev
System Events & Subscriptions,
Time‐based Features
ECommerce
This is the part *you* Website.com
still have to figure out…
(we don’t know jack
about your business)
57. Revenue
How do you make money?
Revenue Tips
• Don’t Rely on AdSense (only)
• Start Free => 2% “Freemium”
• Subscription / Recurring transactions
• Qualify your customers -> Lead generation (arbitrage)
• Sell something! (physical or virtual)
58. Revenue
Resources & Tools
Revenue Metrics (Andrew Chen)
http://tinyurl.com/47r63a
How to Create a Profitable “Freemium” Startup (Andrew Chen)
http://tinyurl.com/8z9ygk
2008 Affiliate Marketing Review (Scott Jangro)
http://tinyurl.com/86wak4
59. Be Bold. Be Humble.
20% Inspiration + 80% Perspiration
Long-term: Audacity + Creative Inspiration
Short-term: Humility + Analytic Rigor
Stuff That Matters:
• Passion for Problem/Solution + Hypothesis of Customer Lifecycle
• 1-page Business Model: Prioritized List of (Users + Conversions)
• Critical, Few, Actionable Metrics + Dashboard of Measured User Behavior
• 1-pg Marketing Plan: (Channels + Campaigns) * (Volume, Cost, Conv %)
• Velocity of (Product Execution + Cycle Time of Testing) * Iteration
60. Passion vs. Precision
• “Solve a Problem” = Passion
• “Optimize the Solution” = Precision
Long-term: Audacity + Creative Inspiration
Short-term: Humility + Analytic Rigor
BUT:
• Precision” is Illusion; “data” is fuzzy
• Collecting & Interpreting data takes time & effort
• Keep Metrics Simple & Actionable
61. Types of Measurement
1. Qualitative: Usability Testing / Session Monitoring
• Watch users, guess problems & solutions from small # of users
2. Quantitative: Traffic Analysis / User Engagement
• Track users, usage, conv %'s for empirical sample # of users
3. Comparative: A/B, Multivariate Testing
• Compare what users do in one scenario vs another
• Measure which copy/graphics/UI are most effective
4. Competitive: Monitoring & Tracking Competitors
• Track competitor activity & compare against yours (if possible)
• Compare channels, keyword traffic, demographics, user sat, etc.