A Review to TractionA Startup Guide to Getting Customers

Compiled by: Austin Walker

Startups Use the Same Channels

Most companies only use top-of-mind channels PR SEO

Using the same channels means having to deal with competition

Need to use which channels are appropriate for company

Primary research will help to determine which channels are appropriate

Bullseye Targeting

Brainstorm Research success/unsuccess of companies’ marketing

in industry Consider how successful the product can be

Rank Use bullseye to determine how successful each

strategy can be

Prioritize Determine “inner circle” – which channels would be

most successful now

Test Use cheap methods to determine how successful a

potential channel may be

Bullseye Targeting cont’d

Focusing Wringing the most successful channel of all the

customers you can

Repeat!

Traction Thinking

The 50% Rule Entrepreneurs are passed up by VCs because they’re

stubborn “Viral marketing strategy” is arrogant

Simultaneous Product Development and Traction are of equal importance

Getting responses from a customer want is valuable and free feedback

Traction Testing cont’d

The Law of Shitty Click-Throughs The longer a marketing campaign runs, the more it

starts looking like a campaign only about click-throughs Shake-up marketing to ensure that competitors aren’t

in the same space and that click-through rates aren’t becoming the measurement

Optimize through A/B Testing (A) Control Group (B) Experimental Group Measures effectiveness of changes in variables

Always Have a Traction Goal

Viral Marketing

Going viral means every customer you acquire brings in at least one more

Viral marketing: Word of Mouth Inherent virality Collaboration Communications Incentivize Embedded Leverage socal Networks

Public Relations

Traditionally refers to company communication with the public of all kinds

Your story must be compelling gin order to get people to react emotionally

Start small

Dollar shave club: 12000 customers with a $5000 video.

Social Ads

Work especially well for demand generation and building interest for new customers

The goal of social ads is typically awareness-oriented, not conversion-oriented

Social ads give companies the opportunity to start a conversation

Offline Ads

Taking advantage of unused (blue ocean) ad space: remnant advertising

TV ads are more often used as branding mechanisms $350,000

Later approach when looking to gain additional traction

Content Marketing

If I would have spent money on advertising that would be it. If you invest in content, it gets picked up by Google. People find it, they share it, and it refers customers almost indefinitely

Women found Eli Manning more attractive than Tom Brady. WHAT?

OKCupid and Unbounce wrote controversial posts to gain traffic and get people engaged.

E-mail Marketing

Personalized e-mails sent to customers whom have already engaged in a product/shown interest work best

Lifecycle e-mails – where the email cycle begins when a customer signs up for a product and ends when the customer becomes active.

Vero, Customer.io

One of the best channels to surprise and delight customers

Engineering as Marketing

Taking a product and making it better, then offering it to potential customers: HubSpot and their marketing grader (complements their product)

Micro-sites to produce engagement and help consumers learn more: hopefully lead them to the answer – your product

Provides something of true value for free, with no strings attached

Targeting Blogs

Directly approach writers of blogs and have them write stories about your startup, targeting different segments

Followed through, finding which blogs got the most clicks

Great way to get your first wave of customers

Business Development

Primarily focused on exchanging value through partnerships, whereas sales focuses on exchanging dollars for a product

Engagement helps both parties involved

Good BD deals align with your company and product strategy and are focused on critical product and distribution milestones.

Not every partnership works; build a pipeline of additional deals.

Sales

Process of generating leads, qualifying them, and converting them into paying customers.

The best customers are the ones who know they have a problem and are actively seeking a solution: give it to them

Qualify customers through the sales funnel.

Affiliate Programs

Pay people or companies to perform a certain action ClickBank; Commission Junction; Affiliate.com,

Pepperjam, ShareASale, Neverblue, Clickbooth,

Recruit partners from your customer base or people who have access to a group o customers you want to reach.

Flat fees for conversions are the simplest way

Trade Shows

The best way to decide whether to attend an event is to visit as a guest and do a walkthrough the year before.

Get people opinion to decide whether the trade show is worth your time

Preparation will determine your success

Success comes from the relationships you build and the prospective

Offline Events

Attend a conference, engage the users there

Build your own conference and build a reputation around the product you offer

Build a group and meet with them regularly

Throw a party!

Speaking Engagements

Spreads the story or message behind your company/promotion

You have to get the attention of event organizers to land speaking engagements

Start by speaking for free at co-working spaces, nonprofits, and smaller conferences or events

Community Building

Involves investing in the connections among your users, fostering those relationships and helping them bring more people into your startup’s circle

Helpful to have an already existing audience built up

Need to have a mission if you want to build an awesome community

I love they try to get you to join their forum (build their audience)