Lean MarketingAn 80/20 Production...

Chapter 1What is Lean

OverviewLean Marketing is...

OverviewLean Marketing is...

1. Efficient

2. Agile

3. Consumer Centric

4. Value focused

5. Growth Focused

6. Scientific

7. Experimental

8. …

OverviewLean Marketing...

Uses fewer resources and eliminates waste while maximizing value

...

Is the 20% of your marketing that provides 80% of the results

Lean Marketing - Guiding Principles

1. Eliminate Uncertainty

2. Work Smarter, Not Harder

3. Develop an MVC

4. Validated Learning

Guiding Principles - Eliminate UncertaintyPut an idea to the test before

committing to a larger budget

Guiding Principles - Eliminate UncertaintyPut an idea to the test before

committing to a larger budget

The Tim Ferriss example:

● Used AdWords micro-campaign to test book title

● Used Barnes & Noble to test book cover

Guiding Principles - Work Smarter, Not Harder

Do your research and make quick, educated guesses.

Reiterate and optimize.

Guiding Principles - Work Smarter, Not HarderCustomer discovery - Go qualitative before quantitative

● Come up with a list of 20-30 (or 100!) people in your target audience focusing on

specific segments that you’re trying to reach.

● Put together a list of questions that will provide actionable insights (where they

are, what they’re talking about, their pain points, their motivations…)

Tools you can use:

● www.customerdiscovery.ninja

● www.hotjar.com

MVC = Minimum Viable Campaign

Guiding Principles - Develop an MVC

MVC = Minimum Viable Campaign

The smallest marketing activity you can start

generating learning from

Guiding Principles - Develop an MVC

MVC = Minimum Viable Campaign

Guiding Principles - Develop an MVC

Purposes

● Test a Marketing hypothesis with minimal resources

● Accelerate learning

● Reduce wasted marketing hours

● Get in front of customers as soon as possible

● Base for other campaigns

Guiding Principles - Validated Learning

Accept that progress is measured by

validated learning, as well as your KPIs

Guiding Principles - Validated Learning

Build

Measure

Learn

Summary: From Lean Startup to Lean MarketingLean Startup

● Customer Discovery

● Build an MVP

● Measure Results

● Validate

● Pivot or Optimize

Lean Marketing

● Customer/Channel Discovery

● Build an MVC

● Measure Results

● Validate

● Pivot or Optimize

Chapter 2What is Growth

Growth Engines

To grow a sustainable business you

need sustainable growth

Growth Engines - OverviewSticky Growth Engine

→ Customer Acquisition > Customer Departure (KPIs conversions + retention)

Paid Growth Engine

→ Lifetime Customer Value > New Customer Acquisition Cost

Viral Growth Engine

→ Each new customer brings in > 1 new customers

Chapter 3What is Traction

Getting TractionWhat is Traction?

Getting TractionTraction is:

A sign that your company is taking off

or...

Quantitative evidence of customer demand

Getting TractionTraction is:

Growth; The rate at which you capture monetizable

value from customers

App? → Downloads...

B2B? → First few paying customers...

B2C? → First few thousand customers…

...

Getting Traction

So the million dollar question is…

“HOW DO I GET

TRACTION?”

Getting TractionStep 1: Define Your Metrics

“The only metrics that entrepreneurs should invest energy in

collecting are those that help them make decisions”

-Eric Ries

Getting TractionMake sure your metrics are:

● Actionable - demonstrate a clear cause and effect relationship

so you can take definitive action

● Accessible - easily understood and available to stakeholders

● Auditable - provide the ability to go back to the data source

and prove that it is true

Getting TractionStep 2: Find the right marketing channel/s

Getting TractionStep 2: Find the right marketing channel/s

● Blogs

● Publicity

● Unconventional PR

● Search Engine Marketing

● Search Engine Optimization

● Social and Display Ads

● Offline Ads

● Content Marketing

● Speaking Engagements

● Email Marketing

● Viral Marketing

● Engineering as Marketing

● Business Development

● Sales

● Affiliate Programs

● Existing Platforms

● Trade Shows

● Offline Events

● Community Building

Getting TractionToo many options?

Bullseye is a framework that can help you find the

channel that will get you get traction

BullseyeBlogs

Publicity

Speaking

Engagements

Content

Marketing

Offline Ads

Social/Display

Ads

SEO

SEM

Unconventional

PR

Engineering

as Marketing

Viral

Marketing

Community

Building

Business

Development

Affiliate

Programs

Sales

Existing

PlatformsTradeshows

Offline

Events

Bullseye - From Outer Ring To Inner RingThe outer ring - What’s possible?

➔ Brainstorm every single traction channel and define what success would look like

The middle ring - What’s probable?

➔ Run cheap traction tests in the channels that seem the most promising.

The inner ring - What’s working?

➔ Focus solely on the core channel that will move the needle.

Bullseye - ConsiderationsThroughout the process, try to roughly answer the following 3 Questions:

1. What is the cost-per-acquisition?

2. What is the possible reach?

3. Are these customers the right kind of customers?

Getting Traction - Step 3Step 3: Pivot or Persevere

● Zoom-In - double down on a single extremely effective campaign to get the best ROI

● Zoom-Out - where a single campaign is too limited to support your goals, go broad with

multiple campaign

● Channels - find less competitive and more efficient “disruptive” channels with the best

possible ROI

● Customer Segment - change who you’re targeting when you realize your product solves a

need for a segment of customers that is different than the one you started with.

● Customer Messaging - change what you communicate when you realize your customers

don’t understand your true value proposition.

Channels - Think IntegratedCreate Cross-Channel Synergy

Presenting at a Tradeshow?

● Blog about it

● Leverage Email

● Run a PPC campaign around it (it’ll be cheaper and more

targeted)

Channels - Think IntegratedCreate Cross-Channel Synergy

Create a feedback loop:

Example: Experiment (cheaply) and validate with Paid, implement in Owned

“Weight Loss” Campaign > “Lose Weight” Campaign

→ Write Content Around Weight Loss

Thoughts & QuestionsLean Marketing

shamirozery@gmail.com

linkedin.com/in/shamirozery

@ozery

Linkshttp://theleanstartup.com/principles

http://tractionbook.com/

http://www.buzzstream.com/blog/a-crash-course-in-minimum-viable-marketing.html

http://quickbooks.intuit.com/r/marketing/startup-marketing-101-what-is-minimum-viable-marketing

http://www.onedesk.com/2013/07/lean-vs-agile/

http://fourhourworkweek.com/2009/05/19/vanity-metrics-vs-actionable-metrics/

http://sethgodin.typepad.com/seths_blog/2005/09/what_makes_an_i.html

http://kk.org/thetechnium/1000-true-fans/