馃攳
How to Grow a Small Business: growth marketing for startups (Part I) - YouTube
Channel: Slidebean
[0]
today we are gonna talk about startup
[2]
growth if you don't know me my name is
[3]
kaya I'm one of the founders and the CEO
[5]
at sleeping a venture funded profitable
[8]
multi-million dollar started one of my
[10]
proudest achievements is having led our
[12]
marketing and growth teams since the
[14]
company was founded back in 2014 as a
[16]
CEO you have to get involved in
[18]
everything inevitably but it's been the
[20]
marketing and growth departments that
[21]
have become one of my favorite tasks as
[23]
part of running this company if you've
[25]
seen some of our previous videos you've
[27]
seen me talk about traction traction
[29]
traction traction traction traction
[31]
traction traction now you maybe
[33]
understand why I value traction so much
[36]
it's not only about getting the metrics
[37]
you need to raise your round of funding
[39]
in the end funding is just a means to an
[42]
end
[42]
having a bigger more profitable business
[44]
it's growing your customer base
[46]
retaining those customers and turning
[48]
them into evangelists that really counts
[51]
as a successful company this is how to
[53]
grow a business
[55]
[Music]
[59]
alright so in this video we are gonna be
[61]
covering growth at the early stages unit
[64]
economics basic growth tactics and
[67]
finally the growth marketing or growth
[69]
hacking mindset other topics that we
[71]
will cover in part 2 of this video are
[73]
building a marketing team the basics of
[76]
SEM that is Google ads and social media
[78]
marketing detailed conversion tracking
[80]
and finally content marketing and SEO
[83]
now why these topics because they relate
[86]
specifically to our own experience and
[88]
we consider ourselves experts in most of
[90]
these our company slide beam helps other
[93]
companies present ideas either through
[95]
our automatic AI design platform or by
[98]
getting our content and design teams
[99]
involved in writing and structuring
[101]
presentations for those customers so
[104]
even though most of our customers are
[106]
other businesses that is a b2b approach
[108]
we don't do a lot of traditional sales
[110]
our customers come through us through
[112]
marketing not via I would Bound reach
[114]
its a b2c or business-to-consumer
[117]
kind of customer acquisition so if the
[119]
type of business you have requires a
[121]
long sales cycle or a bunch of
[123]
salespeople then this video will only
[125]
cover the demand generation part of your
[127]
process sorry all right so you know if
[129]
intro let's get started growth at the
[132]
early stages if you are just starting
[133]
your business then figuring out your
[135]
growth is well tough there is little
[138]
money to spend the product is still
[140]
early or unfinished and convincing
[142]
people to join or pay is harder so here
[145]
are some basics before you even think
[147]
about growth first growth equals product
[150]
at this stage your growth is not only
[152]
related to your marketing outreach or
[154]
sales effort but to the product itself
[156]
if you're just starting up then your
[158]
product will probably be far far from
[161]
perfect you have to understand that the
[163]
stuff you learn as you try to position
[165]
the product as to try to sell it and
[166]
expand should also impact the product
[169]
itself and the roadmap so next up do not
[173]
do not hire an agency for now company
[177]
growth is something that you need to
[178]
figure out yourself at this stage the
[180]
person who is looking at the website
[182]
conversion rate should be the same room
[183]
as the person who designed the landing
[185]
pages and the person who is picking out
[187]
which features to develop next this
[189]
means that one of your five
[191]
or one of your very first hires should
[194]
be that marketing or growth persona like
[196]
I said I was that guy for a large
[198]
portion of her company history while my
[200]
co-founders focused on the product and
[202]
yeah we were in the same room about 24/7
[204]
next point on the basics of marketing
[207]
growth costs are not an expense
[210]
I own a marketing agency back in Costa
[212]
Rica and a large portion of our
[213]
customers come to us thinking of
[215]
marketing as an expense they have a
[217]
budget that they're willing to spend in
[220]
marketing marketing is not an expense
[223]
it's an investment if you measure your
[225]
efforts correctly you should be able to
[227]
determine how spending $1,000 in a
[229]
campaign will yield $3,000 in sales if
[233]
you know these numbers are correct then
[235]
spending meaning investing $10,000
[238]
instead of $1,000 is a no-brainer
[240]
because you know for a fact that that
[242]
will translate to $30,000 so we'll
[245]
revisit this in our unit economics
[247]
section finally be prepared to spend
[250]
slash invest money back in 2013 when we
[254]
started slide bean we were able to
[255]
acquire or first 5,000 or so customers
[258]
using mostly free social media
[261]
advertising quality shareable content
[263]
went a long way and it was enough to
[265]
build an audience that eventually
[267]
converted and tried our product well
[269]
forget about that as a company you have
[271]
to pay to play in social media these
[273]
days it's an extremely competitive space
[275]
every single brand is trying to compete
[277]
for attention and Facebook is greedy the
[279]
actual organic reach of a page these
[281]
days is less than 1% which means that if
[283]
you have 100,000 followers less than
[286]
1,000 of them on average will see
[288]
anything that you publish well you might
[290]
be able to have early wins and newer
[292]
platform say tik-tok or niche audiences
[295]
like Reddit soon enough you'll find
[296]
yourself in the mainstream platforms
[298]
competing for attention and being forced
[300]
to pay for those impressions more
[303]
importantly marketing is a
[304]
trial-and-error game some of your
[306]
experiments will fail and the faster you
[308]
can run more tests the faster you can
[310]
figure out your growth plan and it's not
[312]
free it's never free few companies can
[315]
you get away with free truly free
[316]
organic reach so yeah it's time to get
[319]
your wallet ready in summary if you're
[321]
an early stage company learn to do this
[323]
yourself either you or one
[325]
co-founders should absolutely own your
[327]
communication be prepared to experiment
[330]
a lot and set aside some money to do it
[332]
once you find a channel that works
[333]
double down on it alright so let's move
[336]
on to unit economics when talking about
[338]
marketing your unit economics are the
[340]
metrics that determine if your campaigns
[342]
are profitable or not okay so some basic
[345]
concepts here cost of acquisition CAC or
[347]
CAC however you wanna call it that is
[349]
the cost of bringing in a new customer
[351]
if you're calculating the cost of
[352]
acquisition of a specific campaign then
[355]
you should do campaign cost divided by
[357]
number of customers if you're
[359]
calculating your average your broad
[361]
company-wide cost of acquisition then
[363]
you should also include the cost of your
[364]
growth team and the platforms that the
[367]
growth team uses next up cost per sign
[370]
up or cost per download for many
[372]
businesses with trial periods or
[373]
freemium business models a sign up or
[375]
app download is very different from a
[377]
paid customers so you should keep track
[379]
of both finally the lifetime value that
[382]
is the average revenue that you expect
[384]
to make from a single customer on a SAS
[386]
company this is calculated using your
[388]
retention estimation or your churn on an
[391]
ecommerce store this is calculated using
[393]
the average order size the average
[395]
margin that you will make from that
[397]
order and the percentage of customers
[399]
that make repeat purchases the most
[401]
basic rule of marketing is that your LTV
[404]
should be higher than your cost of
[405]
acquisition that's pretty obvious but
[406]
depending on the industry you might want
[408]
to aim for a 2x or 3x on your cost of
[411]
acquisition - lifetime value ratio is
[414]
this too dense well here's a funny video
[416]
from our team for you to take a break
[421]
I wonder what you carry we type in kaya
[425]
calm and should always be used with a
[434]
water-based contraceptive tail kind of
[438]
beats about baby if you notice your
[442]
qaeda is damaged in some way after
[445]
intercourse please visit your doctor
[448]
immediately okay carry on
[451]
let's do growth tactics my favorite book
[454]
on growth is called traction I'll link
[456]
that in the description
[457]
the premise is very simple there are
[458]
only there exists in the world only 19
[461]
channels for any company to acquire
[463]
customers that's it and if you know what
[465]
those channels are you can pick and
[466]
create campaigns around them those
[468]
channels are viral marketing that is
[471]
your ability to grow from customers
[473]
referring you to other customers public
[476]
relations or PR the art of getting your
[479]
name in blogs and newspapers TV or press
[481]
publications unconventional PR commonly
[484]
known as publicity stunts search engine
[486]
marketing those are the ads on search
[488]
engines like Google Bing or even YouTube
[490]
social and display ads that's your
[493]
Instagram Facebook Twitter type of ads
[495]
based on a user's interest offline ads
[498]
that's TV spots radio commercials
[500]
billboards infomercials newspaper and
[502]
magazine ads search engine optimization
[505]
or SEO the very complex art of ranking
[507]
your website in Google search will cover
[509]
some of that on part 2 of this video
[511]
content marketing if you're watching
[513]
this video you've witnessed and you've
[515]
fallen victim of our content marketing
[517]
campaigns email marketing not a lot to
[520]
add here engineering is marketing that's
[522]
using apps and tech products for growth
[525]
like the bank that makes a loan
[527]
calculator to get customers and leads
[529]
targeting blogs which you can even
[531]
translate to influencer marketing
[532]
getting people with niche audiences to
[534]
talk about you business development pre
[536]
obvious their sales pretty obvious again
[539]
affiliate program so offering rewards in
[542]
exchange for your customers referring
[544]
other customers existing platforms so
[547]
leveraging your presence and relevance
[549]
in existing platforms such as figuring
[551]
out how to be promoted or featured on
[553]
the App Store or the chrome store trade
[555]
shows not a fan of those but they're an
[556]
option offline events meetups and such
[559]
speaking engagements community building
[562]
and that's it 19 channels of girl are
[565]
there any other channels of growth not
[567]
covered there I really don't think so I
[569]
think they covered most of them so the
[571]
book elaborates on each one of them and
[573]
gives you some ideas on successful
[575]
campaigns from different companies this
[577]
brings us to our last topic for today
[579]
growth hacking I don't know if the
[581]
internet has a definition for what
[583]
growth hacking is my definition is
[586]
mastering the art and science of coming
[590]
up with campaigns for these 19 different
[592]
channels measuring the unit economics of
[596]
those campaigns diligently using the
[598]
data to make quick decisions to pull the
[601]
plug or double down on campaigns
[603]
optimizing copy design campaign concepts
[607]
and landing pages to maximize that
[608]
conversion and finally working with the
[611]
product team to turn those marketing
[613]
metrics and results into product changes
[616]
the growth hacker is a bit of a mythical
[618]
being but by no means impossible to find
[621]
any up you should either become one or
[624]
capture one early on the mindset is
[626]
simple test test again rinse and repeat
[629]
repeat on the campaigns then worked of
[631]
course so next week we're going to be
[633]
looking into more specific examples of
[635]
growth hacks you can do as you grow your
[637]
business so hit that subscribe button to
[640]
stay tuned also if you want to take our
[641]
platform for a spin you can use this
[643]
code to get three free months on any of
[645]
our plants and we'll see you next week
[647]
[Music]
Most Recent Videos:
You can go back to the homepage right here: Homepage