[WMD 2015] Tradesy >> Tracy Dinunzio, "The CEO Growth Playbook: How To Be Your Own CMO"
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Tracy Dinunzio, Founder & CEO, Tradesy
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[WMD 2015] Tradesy >> Tracy Dinunzio, "The CEO Growth Playbook: How To Be Your Own CMO"
- 1. THE CEO GROWTH PLAYBOOK How To Be Your Own CMO @tracydinunzio @tradesy
- 2. The story of Tradesy’s marketing-driven growth 0 75 150 225 300 2012 2013 2014 2015 Valuation GMV (pace) @tracydinunzio @tradesy TRADESY GROWTH SINCE LAUNCH
- 3. The true story of Tradesy’s marketing-driven growth 0 75 150 225 300 2009 2010 2011 2012 2013 2014 2015 Valuation GMV (pace) @tracydinunzio @tradesy WHAT REALLY HAPPENED
- 4. THE METHOD IDENTIFY TEST EXPLOIT AUTOMATE Find channel opportunities off the beaten path Use rigorous methodology paired with agile process Make what’s working 25% more valuable Productize and delegate channel, rinse + repeat A simple + direct methodology for lean, early-stage marketing development
- 5. Go where no (wo)man has gone before Find paid, earned, and organic media + marketing opportunities where the crowd isn’t looking LIMITED UPSIDE Mature Channels Already established and saturated; ad unit prices reflect the LTVs of your biggest competitors. ! ! • SEM • Facebook Ads • Google Display • Retargeting • Email Marketing IDENTIFY: MATURE VS EMERGING CHANNELS LIMITLESS UPSIDE New + Emerging Channels Underpopulated channels set ad prices lower to drive growth ! ! • Podcast Ads • Snapchat Content Marketing • YouTube Ads • TV Commercials • Direct Mail Marketing @tracydinunzio @tradesy
- 6. Interest Over Time Source: Google Trends ! • Facebook Marketing • YouTube Marketing • Pinterest Marketing • Podcast Marketing • Snapchat Marketing ! ! Increased demand makes your marketing channels expensive Popular channels with increasing demand result in higher advertising prices Getting in before the curve peaks gives you the best chance for a home-run ROI IDENTIFY: THE NOT-SO-BEATEN PATH INFLECTION POINT @tracydinunzio @tradesy
- 7. Projecting and Prioritizing for Next Steps IDENTIFY: PRIORITIZING OPPORTUNITES Measure level of ease/affordability of testing, and projected upside on a 1-10 scale*, then prioritize your tests accordingly *Warning: Dramatically simplified! Example analysis - Ease/upside of channels are unique to each business Snapchat Marketing ! Podcast Advertising Television Commercials Direct Mail Marketing Level of Ease/Affordability Is it low-cost? Fast? Resource-light? 3 7 1 5 Potential Upside How big is the projected opportunity? 5 5 9 2 Average 4 6 5 3.5 @tracydinunzio @tradesy
- 8. TEST: 3 KPIS Visitor CPC ! ! ! Signup CPL ! ! ! Buyer CPA ! Traffic TEST 1 TEST 2 SPEND $10,000 $10,000 CPC Cost per Click $1 $2 NEW UNIQUE VISITORS 10,000 5,000 CPL Cost per Lead (a lead = a signup) $10 $20 NEW SIGNUPS 1,000 500 CPA Cost per Acquisition (acq = a buyer) $100 $200 NEW BUYERS 100 50 Example Test Results Conversion-to-signup rate = 10% Conversion-to-purchase rate = 10% Keep Marketing KPIs Dead Simple: CPC - CPL - CPA @tracydinunzio @tradesy
- 9. TEST: CALCULATE LTV @tracydinunzio @tradesy Forget LTV and Focus on CAC Payback Period Early stage startups often don’t have enough data to accurately project lifetime value. Here’s a hack.
- 10. TEST: CALCULATE LTV @tracydinunzio @tradesy Forget LTV and Focus on CAC Payback Period Early stage startups often don’t have enough data to accurately project lifetime value. Here’s a hack. X
- 11. Apply ruthless rigor to your testing TEST: AVOID COMMON PITFALLS How you test matters as much (or more) as what channels you test Testing outcomes are the “information” your team will base future decisions on. DON’T LEAD YOUR TEAM ASTRAY! @tracydinunzio @tradesy
- 12. Iterate toward world-class creative TEST: CREATIVE IS EVERYTHING $160 CPA $32 CPA $210 CPA $37 CPA Better creative = increased network effects (branding), and lower CPA @tracydinunzio @tradesy
- 13. THE METHOD AT EARLY STAGES IDENTIFY TEST EXPLOIT AUTOMATE In 2011, Recycled Bride became profitable using this method This is what my marketing stack looked like • PR • Blog • FB Organic • FB Ads • Google SEM • YouTube Organic • Influencer Partnerships • YouTube Ads • Print Ads • Affiliate Marketing ! @tracydinunzio @tradesy
- 14. ! Now throw away channels that didn’t work, and exploit the ones that did EXPLOIT: GOING DEEPER Make it 25% more valuable than during testing +25% @tracydinunzio @tradesy
- 15. Productize and Delegate What’s Working AUTOMATE: PASS THE BATON Move on to conquer new channels @tracydinunzio @tradesy
- 16. THE METHOD AT MATURITY IDENTIFY TEST EXPLOIT AUTOMATE The Method Expands as Your Marketing Team Does Find great people to start automation, then have them work backwards down the chain • PR • SEM • Blog • FB Organic • FB Paid Mobile • Google PLA • Retargeting ! ! ! ! • FB Ads • SEO • Affiliate Marketing • Shopping feeds • Polyvore Paid • Pinterest Organic • Instagram • Email mktg ! • Influencer Partnerships • Print Ads • Pinterest Paid • TV Ads • Tumblr • Comparison shopping eng. • Pop-up shop • Event mktg ! @tracydinunzio @tradesy • YouTube Ads • Billboards • Tumblr Paid • Outbrain Content Mktg • Radio • In-air video • Exit Intent Offer • Forums + FB groups • xx