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!
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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
How do you get people to know about you and to your site?
- Inbound Marketing
- Content Marketing
- Social Media
- High volume channels
- Low cost channels
- Best conversion channels
- Happy first experience
- 10-20 seconds on the site
- # of pages
- Low bounce rates
- A/B Testing
- 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
- How you get people to pay for your product?
- Minimum revenue
- Break-even revenue
- 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
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