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Sean Ellis
Lean Startup Circle
March 24, 2010
Lean Startup Marketing
Channeling Resources to Create a
Fast Growing Startup
Cross startup learning…
for betterment of all startups
Led by entrepreneurs
- Steve Blank
- Dave McClure
- Eric Ries
- Everyone here
2startup-marketing.com
My Lean Experience
• Collective experience outweighs mine
• Steve Blank recommended “lean” preso
• Then couple Eric Ries posts/presentations
• Limited time to participate in lean revolution
• But 15 years of “lean-ish” principles
3startup-marketing.com
Objectives for Today’s Meeting
1. Share insights for growing a valuable startup
2. Fresh look at my approach growing startups
using lean startup principles
3. Work together to evolve our understanding of
startup growth
4startup-marketing.com
What are the Lean Startup Principles?
• Low burn by design (no scaling until revenue)
• Learn fast (fail fast)
• Rapid hypothesis testing about market, pricing,
customers (customers & markets unknown)
• Metrics, iteration…
• Agile development
• What else?
startup-marketing.com 5
“Lean-ish” Marketing = Back-to-Back IPOs
First Startup (1996 launch)
– Lead online game category
– Get users at cost lower than user value (ARPU)
– Minimize waste via sophisticated metrics
Second Startup (2003 launch)
– Added qualitative research and funnel optimization
6startup-marketing.com
startup-marketing.com
Goal: Build Sustainable Valuable Company
7
Low value startups:
Scaling or cost-effective marketing
Valuable startups:
Scaling cost-effective marketing
8startup-marketing.com
Valuable Company Starts with Value
• Product/market fit = product is “must have” (value)
• Become a “must have” with customer development
– Validate “value” assumptions early (who needs/why?)
– Get users on first release ASAP
– Find “must have” users/use cases (facts outside building)
– Pivot if necessary to create value
startup-marketing.com 9
Getting to Scalable
Cost-Effective Marketing
startup-marketing.com
Scale
Get Efficient
Conversion
Product/Market Fit (Value)
10
Pyramid through Lean Startup Lens
• Waste – Eliminate wasted time, money, effort…
• Focus – Channel resources to create value
• Speed - Get to next level as quickly as possible
• Learn – Hypothesize, test, refine
startup-marketing.com 11
Survey User Perceived Value
• Free template at Survey.io
startup-marketing.com 12
startup-marketing.com
Key “Value” Question
“Very Disappointed” My Recommendation
0% – 25% Keep burn low, engage, iterate
26% – 39% Try repositioning, retargeting
40% – 100% Proceed up pyramid
“How would you feel if you
could no longer use Product?”
13
Start Transition to Growth
startup-marketing.com
Scale
Get Efficient
Conversion
Product/Market Fit
14
startup-marketing.com 15
Better conversion efficiency
Improves range & scalability of viable channels
Race to Scale – Key Projects
1. Positioning - based on perceived value
2. Right metrics - to channel resources
3. Optimize conversions - LP & funnel
4. Viable economics – monetize user value
5. Scalable growth strategy - who/intent?
6. What else?
startup-marketing.com 16
Optimize Landing Pages & Full Funnel
Signup
Home Page
Path 1
200,000
100,000
100000
50000
X000
Paid
X00
Paid
X00
Free
X000
X00025000
50%
12.5& 12.5%
X% X% X% X%
Path 1 (step 2)
Path 2
25000
X000
X%
X00
Free
startup-marketing.com 17
Scalable Growth Now Possible
startup-marketing.com
Scale
Get Efficient
Conversion
Product/Market Fit (Value)
18
Test from Free to Paid Channels
startup-marketing.com
Channel Cost/user Scalability
Viral/referral Free High
Email (internal) Free Organic
Blog Free Organic
SEO Free or Paid Organic
Widget Free or Paid Organic
Biz Dev/Partners Free or Paid High
Domains Paid (low) Low
PR Paid (low) High
Email (external) Paid (TBD) High
SEM Paid (TBD) Can be High
Contest Paid (TBD) Organic
Affiliate/lead gen Paid (TBD) High
Radio Paid (TBD) High
TV Paid (TBD) High
19
Driving/Managing Growth
Monitor
Conversions
• Anything broken?
• AARRR
Manage
Campaigns
•Optimize and scale
campaigns on ROI
Develop New
Campaigns
• Test new sources
startup-marketing.com 20
Budget to maximize positive ROI spend
Valuable Company
• Some loss of control is good
• Understand via triangulation
– Origin tracking
– Trend correlation
– Surveys
• Feed the beast
startup-marketing.com 21
Channel Your Resources
to Climb the Pyramid
Twitter: @seanellis
Blog: startup-marketing.com
Scale
Optimize
Economics
Positioning
Product/Market Fit (Value)

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Lean startup marketing

  • 1. Sean Ellis Lean Startup Circle March 24, 2010 Lean Startup Marketing Channeling Resources to Create a Fast Growing Startup
  • 2. Cross startup learning… for betterment of all startups Led by entrepreneurs - Steve Blank - Dave McClure - Eric Ries - Everyone here 2startup-marketing.com
  • 3. My Lean Experience • Collective experience outweighs mine • Steve Blank recommended “lean” preso • Then couple Eric Ries posts/presentations • Limited time to participate in lean revolution • But 15 years of “lean-ish” principles 3startup-marketing.com
  • 4. Objectives for Today’s Meeting 1. Share insights for growing a valuable startup 2. Fresh look at my approach growing startups using lean startup principles 3. Work together to evolve our understanding of startup growth 4startup-marketing.com
  • 5. What are the Lean Startup Principles? • Low burn by design (no scaling until revenue) • Learn fast (fail fast) • Rapid hypothesis testing about market, pricing, customers (customers & markets unknown) • Metrics, iteration… • Agile development • What else? startup-marketing.com 5
  • 6. “Lean-ish” Marketing = Back-to-Back IPOs First Startup (1996 launch) – Lead online game category – Get users at cost lower than user value (ARPU) – Minimize waste via sophisticated metrics Second Startup (2003 launch) – Added qualitative research and funnel optimization 6startup-marketing.com
  • 8. Low value startups: Scaling or cost-effective marketing Valuable startups: Scaling cost-effective marketing 8startup-marketing.com
  • 9. Valuable Company Starts with Value • Product/market fit = product is “must have” (value) • Become a “must have” with customer development – Validate “value” assumptions early (who needs/why?) – Get users on first release ASAP – Find “must have” users/use cases (facts outside building) – Pivot if necessary to create value startup-marketing.com 9
  • 10. Getting to Scalable Cost-Effective Marketing startup-marketing.com Scale Get Efficient Conversion Product/Market Fit (Value) 10
  • 11. Pyramid through Lean Startup Lens • Waste – Eliminate wasted time, money, effort… • Focus – Channel resources to create value • Speed - Get to next level as quickly as possible • Learn – Hypothesize, test, refine startup-marketing.com 11
  • 12. Survey User Perceived Value • Free template at Survey.io startup-marketing.com 12
  • 13. startup-marketing.com Key “Value” Question “Very Disappointed” My Recommendation 0% – 25% Keep burn low, engage, iterate 26% – 39% Try repositioning, retargeting 40% – 100% Proceed up pyramid “How would you feel if you could no longer use Product?” 13
  • 14. Start Transition to Growth startup-marketing.com Scale Get Efficient Conversion Product/Market Fit 14
  • 15. startup-marketing.com 15 Better conversion efficiency Improves range & scalability of viable channels
  • 16. Race to Scale – Key Projects 1. Positioning - based on perceived value 2. Right metrics - to channel resources 3. Optimize conversions - LP & funnel 4. Viable economics – monetize user value 5. Scalable growth strategy - who/intent? 6. What else? startup-marketing.com 16
  • 17. Optimize Landing Pages & Full Funnel Signup Home Page Path 1 200,000 100,000 100000 50000 X000 Paid X00 Paid X00 Free X000 X00025000 50% 12.5& 12.5% X% X% X% X% Path 1 (step 2) Path 2 25000 X000 X% X00 Free startup-marketing.com 17
  • 18. Scalable Growth Now Possible startup-marketing.com Scale Get Efficient Conversion Product/Market Fit (Value) 18
  • 19. Test from Free to Paid Channels startup-marketing.com Channel Cost/user Scalability Viral/referral Free High Email (internal) Free Organic Blog Free Organic SEO Free or Paid Organic Widget Free or Paid Organic Biz Dev/Partners Free or Paid High Domains Paid (low) Low PR Paid (low) High Email (external) Paid (TBD) High SEM Paid (TBD) Can be High Contest Paid (TBD) Organic Affiliate/lead gen Paid (TBD) High Radio Paid (TBD) High TV Paid (TBD) High 19
  • 20. Driving/Managing Growth Monitor Conversions • Anything broken? • AARRR Manage Campaigns •Optimize and scale campaigns on ROI Develop New Campaigns • Test new sources startup-marketing.com 20 Budget to maximize positive ROI spend
  • 21. Valuable Company • Some loss of control is good • Understand via triangulation – Origin tracking – Trend correlation – Surveys • Feed the beast startup-marketing.com 21
  • 22. Channel Your Resources to Climb the Pyramid Twitter: @seanellis Blog: startup-marketing.com Scale Optimize Economics Positioning Product/Market Fit (Value)