5 principles for product driven growth

@nilanp

5 principles for product driven

growth

5 principles for product driven

growth

1. Focus on a single product / market!2. Systemically improve experience for your customers !3. Focus on NPS and your business will grow!4. Supply is usually your biggest scaling lever!5. Once your unit economics are strong look for a scalable acquisition channel! @nilanp

@nilanp!Introductions…

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Startups

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Startups Tequila

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Back to traction

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Revenue

Revenue

Revenue

Death Zone

Revenue

How do I get out of the death zone ?

A typical founder conversation

Anonymised using characters from the

Wire

x

GROWTHDude - we’re running outta cash in 6 months

GROWTH

Lets go see the Man - he can give us funding

Introducing the Man

GROWTH

GROWTH

Come back when you have traction…

GROWTHWe need to get traction, we need to find customers, you know what we need ?

GROWTHMarketing

GROWTHWord. Marketing is what we need… but marketings expensive. You know what we need ?

GROWTHMoney… lets go see the Man.

GROWTH

How do I get out of the death zone ?

A story of 3 companies

5 principles for product driven

growth

A story of 3 companies

32m Trips

We believe holidays should be hassle-free.

Hotels

Books

FX Car Hire

InsuranceParking

Lounges Ski Hire Essentials

the most efficient way of

monetising trips on the internet.

Our role in the holiday value chain.

Customer

A holiday engine. !

A platform

2 levers

Would you recommend us to your friends?

1 2 3 4 5 6 7 8 9 10

Detractors Neutral Promoters

5 Principles for product driven

growth

1. Focus on one product and one market

2. Systemically improve your experience for

customers

Practical adviceFocus on single

userscredit: Klinger.io

Startups are prioritisation problems…

Learn how to prioritise

• Margin per trip!• Impact on

conversion rate!• Impact on NPS

3. Focus on NPS and your business will

grow

Would you recommend us to your friends?

1 2 3 4 5 6 7 8 9 10

Detractors Neutral Promoters

If promoters > detractors you WILL

grow

N.B. This is fucking hard.

It works ! !(But barely)

It works ! !(But barely)

It works with!no significant issues !

It works ! !(But barely)

It works with!no significant issues !

It works. Wow that was slick

It works ! !(But barely)

It works with!no significant issues !

It works. Wow that was slick

You’ve just blown my socks off that was fucking incredible

Every app on your phone has an insanely high NPS

What drives recommendation ?

Rational Emotional

Rational! Emotional• Meeting &

exceeding expectations!

• Product features

• Narrative!• Reason for

sharing!!

!

Rational! Emotional

• Faster!• Cheaper!• More

convenient!• Most routes!

• Narrative!• Reason for

sharing!!

!

For too long we’ve been overcharged and underserved by the old world of banking. !We invented TransferWise 3 years ago to change this. A part of it at least, and what’s happened since has been humbling. !People now use TransferWise in more than 40 countries. Each day proving that you don’t need to play by the old rules. !What we, all of us, have created is a movement. And every movement needs a symbol. !So today we fly a new flag – the Fast Flag. !A flag for everyone who’s already said bye bye to bank fees. And all the people who one day will too. !The fact is, you don’t need banks to move money. Just a community of like minds, willing to be part of something new. People on TransferWise prove that.

!You’ve re-invented how money moves between countries. Without banks. Faster, safer, for a fraction of the cost. The Fast Flag flies for the power of people. !That they can change old unfair regimes. !For a world where the old rules don’t apply. !For a new set of rules based on fairness and honesty. !For conquering the old world of money. !And for building a new one. !For everyone. ! Welcome to Money Without Borders. !Taavet & Kristo Founders of TransferWise.

Supply is your biggest scaling lever

3. Supply is your biggest scaling lever

4. Once unit economics are strong

explore scalable acquisition

1. Performance marketing!

2. Viral growth!3. Inbound marketing!

Money in Money out

1. Performance marketing!

Money in < Money out

The performance marketing landscape

Kwaja slide

• Where to focus ?

Kwaja slide

• Where to focus ?Where to start ?

What I need…

Targeting

Intent

Relevance

Google Everything!else

Practical advicePerformance

marketing in detail

1. Google 2. Facebook 3. Other stuff

@nilanp

Practical adviceWhen to trial

Google ?

1. When you have a product with better unit economics than the incumbent

2. People already search for your product on Google

Practical adviceGoogle hacks

@nilanp

Hacking Google - off topic

1. On and off topic traffic!2. Gmail ads

Hacking Google - off topic

1. On and off topic traffic!2. Gmail ads

Gmail ads

Hacking Google

1. On and off topic traffic!2. Gmail ads

Off topic adsOff topic targeting

Hacking Google

1. On and off topic traffic!2. Gmail ads

Hacking Google

1. On and off topic traffic!2. Gmail ads

Practical advice2. Facebook

@nilanp

Practical adviceWhen to trial Facebook ?

1. No volume on Google 2. Product inherently social 3. You can target an audience

for your product on Facebook

Practical adviceFacebook hacks

@nilanp

Hacking Facebook

1. Similar audiences!2. Intent targetting:!

Hacking Facebook

1. Similar audiences!2. Intent targetting:!

Hacking Facebook

1. Similar audiences!2. Intent targetting:!

Similar audiences

Practical advice

Performance marketing growth

hacks

1. Google 2. Facebook 3. Other stuff

@nilanp

Practical advice

Performance marketing growth

hacks

1. Google 2. Facebook 3. Other stuff

@nilanp

Why u no ?1. SEO!2. Email!3. RTB!4. Retargetting!5. Content marketing!6. Social / instagram

Practical advicePerformance

marketing summary

1. Performance marketing can get you to scale

2. Focus on scalable channels 3. Look for unorthodox routes

to market@nilanp

Viral growth!

Launch refer a friend programs - play with monetary and non-

monetary incentives

Focus!!

Give away value!NOT money!

Focus!!

=

What amplifies viral growth rate ?

Frequency of use!Relevance!

Shareability

Practical advicePre-requisites

1. Have a great product 2. Have your first 1000

customers 3. Customers are part of high

trust networks with other target customers

@nilanp

Inbound marketing

Build acquisition into your app

Product driven growth!

5 principles

1. Focus on a single product / market!2. Systemically improve experience for your customers !3. Focus on NPS and your business will grow!4. Supply is usually your biggest scaling lever!5. Once your unit economics are strong look for a scalable acquisition channel! @nilanp