I had a decade of experience in growth marketing. In 2013, I became the first salesperson at an early-stage startup. Here’s what I learned in my first three months.
Read moreCommon Pitfalls on Both Sides of the Discount / Don’t Discount Debate
One of the best marketing experiences of my career was working with a team of ecommerce veterans at BookRenter. Couponing is a complex needle to thread. A generation of founders who venerate Steve Jobs tie themselves in knots wanting to avoid discounting, and fail to grow the business. Meanwhile promotion-happy marketing teams can train customers to wait for discounts before purchasing, destroying margins and devaluing the brand. Here’s my framework for doing it right.
Read moreOrganic Growth Hacking: how to build quality customers from seed stage
It’s really fascinating going from a company with a few thousand users (SoFi) to one with over eight million (Scribd) – the skills required to be a marketer – or a growth hacker – at these two companies – are sometimes very different. As Director of Acquisition at SoFi, I took the company from a few dozen customers to a few thousand in less than a year. That required some really scrappy tactics that no one is talking about. Unfortunately, I think today the challenges of early-stage growth aren’t being talked about enough – and growth hacking focuses too much on tactics that are primarily going to help companies that already have millions of users. I think that’s a misrepresentation of what will truly help budding marketers at early-to-mid stage companies that aren’t lucky enough to have millions of MAUs.
Semil Shah wrote a recent guest post in TechCrunch and spoke specifically about distinguishing between inorganic growth-hacking tactics and more organic, qualitative, often-offline tactics. This begins to drive toward the question of what are these early-stage-growth things that startups should be doing? One example: at one startup when we wanted to get students to finish signing up, we actually called them and asked if they had any questions we could answer. Imagine the CFO of a startup calling a 22-year-old on their cell, answering a question, or walking the question over to customer support to find an answer. A lot of startups tell stories about this. But I don’t see anyone in the marketing community embracing these practices. They are more than a publicity stunt – they imbue your company with a sense of substance and quality that is hard to measure but perhaps crucial to establishing organic growth.
At the Growth Hackers Conference, there were talks from YouTube, Elliot Shmuckler from LinkedIn, and Mike Greenfield from Circle of Moms. In those three cases, these companies had tens of millions of users before those three speakers ever joined the company. And therefore, the types of growth hacking being deployed were all specific to companies that already have a huge reach. Examples of tactics discussed: optimizing the onboarding flow for new users, driving better engagement and site visits through email subject line optimization, or a/b testing landing pages. These are all great when it comes to taking a million users and making it 1.1 million. Or perhaps they took 1 million and made it 2 million. But with just 1000 site visitors per month, a new user signup flow optimization that increases conversion from 5% to 10% is still just 100 new users.
Here’s one such strategy – I think it strikes the balance between being authentic, offline, and at the same time highly scalable.
At Kno, BookRenter, and SoFi, I developed partnerships through campus organizations. The insight was that clubs constantly need events – which means they need speakers – and they constantly need money – which means sponsorships. I reached out to try to kindle a few sponsorships or guest-speaking events. Straightforward, so far. Here’s where it gets interesting: The hack was that I hired someone on ODesk to spend hours combing club directories, finding contacts, and then emailing them a customized template email on my behalf, asking them to partner. The ones who responded got a meeting set up with me, and I spent 30 hours a week in phone calls developing real human-to-human relationships with club organizers, even taking a number of them out for lunch or drinks when they eventually visited San Francisco. In turn, the startups I worked for got tremendous mind-share at these campuses and in a much more authentic way.
Most importantly, II was able to make that quality contact scale across 50 campuses x 5 clubs per campus x 5 officers = 1250 influencers. Of those, perhaps only 5% forwarded something onto their club mailing lists, which let’s say an average of 100 members each, so – for free – we were able to reach 1250 * 5% * 100 = 6,250 potential customers. And do it through personal email – a trusted channel – rather than through paid advertising – a channel the Millennial brain has learned to all but ignore.
I recently joined Scribd as interim Director of Marketing to help them through the launch of a new product. It’s going to be an entirely different challenge – a site with 80MM active users. I’m excited to try out more of the standard growth hacking, eCommerce performance marketing, and funnel optimization that I’ve learned at BookRenter and from the Growth Hacker community. Wish me luck.
Where do MOOCs go from here? Non-Traditional Education and Apprenticeship
I’m not sure where MOOCs go from here. I’m just thinking “aloud.” One way to think about this is to explore the question: “What purposes do traditional top-tier universities serve?”
Read moreThoughts on Merchandising, Social Recommendations, and Content Curation
I was following the twitter of Oyster CEO Eric Stromberg’s twitter when I came across this article on curated content vs. recommendation engines. Oyster is a new startup in that hopes to become Netflix for books. As you can imagine, given my background at two different startups that aspired to be “Netflix for Textbooks” you can image I was quite interested and had some great subsequent discussions on the right mix between different types of recommendations and this area of “product discovery.”
Read moreThe Fundamentals of Viral Loops
Social sharing features are oftentimes called viral loops. A company’s goal with a viral loop is to incentivize a user to share the product with her friends. The thinking being that if she likes the product, and she gets a small incentive for sharing, she will tell all her friends, and the product will grow in popularity.
Read moreLeaving Rafter to join Social Finance (SoFi)
Friends,
Today is my last day at BookRenter (aka Rafter). Tomorrow I’ll be starting at Social Finance (SoFi) as Director of Student Acquisition.
Read moreMarketing before you have a Marketer
So, you’ve just graduated from that incubator, received a round of angel funding, or even secured your series A. You may or may not actually have anyone with any marketing experience handling your marketing. Here are the 5 things I would handle, or hire someone to handle, to tide-you-over until you reach a point where you’re ready to bring-in your first full-time marketing hire. I can even suggest people who will consult and handle these things for you. Keep in mind none of this is the stuff I specialize in, nor is any of this going to help you grow or scale. These are the fundamentals you should be thinking about before you’re ready to scale. And these are the fundamentals that, across my experiences, often get overlooked and can be expensive – in terms of time, money, effort, and credibility – to clean-up later.
Read moreSix Considerations to Get Started with a Blog
Anu and Dolly – two friends from LA – recently reached out asking me for advice on how to start a blog. Anu wrote “didn’t you once write a blog about how to write blog.” I thought to myself, “hmm.. That’s something I would totally write.” so I looked as far back as 2008, and couldn’t find anything. I had to write-up something new for her, and thought I would refine & share it with others. Then, in the process of researching, I decided it was high-time I updated my own blog, and less than 24 hours later, my new blog is up, in the old location, at www.dailydoseofpras.com. And here, now, for your pleasure, are some recommendations on how to start a blog:
Read moreApple is the new Evil Empire
Unlike Google, whose mission statement was “don’t be evil,” Apple has never had many qualms about acting like a dick. Don’t get me wrong: I think Apple’s (And Steve Jobs’) marketing and brand-positioning is genius. Microsoft, on the other hand, desperately wants to be everything to everyone, and, as a result, continues to build lowest-common-denominator-products and create lowest-common-denominator-marketing campaigns. Microsoft, for example, has to continue to support the 10-year-old Windows XP operating system to keep existing customers happy. Apple’s “take-it-or-leave-it” prickishness is brilliant – they’re attitude is essentially “if you have a problem with it, just leave.”
Read moreThe Seven Circles of LCA Hell: or How I Learned to Love Advertising Law
I was reading this story about a game developer that lawyered-up against a startup, and I thinking today about how much freedom there is when you’re marketing at a startup company. Compared to Microsoft, that is. At Microsoft, I often used to joke about the Seven Circles of LCA Hell – or the 7 layers of lawyers I had to go through to “ship” a marketing campaign.
Read moreHow to Motivate Brand Ambassadors
You will probably never meet anyone who has spent more time thinking about this than me. So I thought I’d share some of my thoughts on this topic. If any of you reading this happen to have been part of any of the brand-ambassador programs I’ve managed, I’d love for you to leave your thoughts as well. Fundamentally, I hope the message here is that in order to create an army of people who are passionate about your brand and will spread it for you, you need to be authentic with them, give them genuine reasons to want to engage with you that go beyond money, and find things that you can offer them that cost you very-little but give them great-satisfaction.
Read moreAudi’s Facebook Campaign with Klout – better for Klout than it is for Audi
Let’s start with the basics: Klout is a tool that helps to measure someone’s social media influence score – or essentially – it’s an algorithm that calculates your score based on your # of friends, how influential you are, what kinds of conversations you have, how often you get ReTweeted, etc. The algorithm itself is not public, but it’s something that brand managers and social media folks are starting to pay attention to. Theoretically you want to increase your brand’s social media influencer score. and theoretically, you want to target your most-influential followers / fans / users and activate them, and empower them to market on your behalf. so figuring out which of your fans really are the key-influencers is obviously important to a brand like Audi.
Read moreBoring Products | How I Got Consumers to Eat their Vegetables
Getting kids to eat their vegetables is, well, just about as hard as getting consumers to care about something boring. You can do deep discounting and promotions: the marketing equivalent of trying to get the airplane-spoonful to land in the kids mouth. But inevitably that erodes the value of the product. So how do you get a consumer to eat their vegetables and like it?
Read moreThe Newest Facebook Phenomena: Secret Cities like Secret Seattle
While most of us where scratching our heads wondering who our celebrity doppelganger might be, there was a second more fascinating Facebook Fad afoot. After the tremendous success of a Facebook Group called Secret London – which quickly amassed over 180,000 in as little as 18 days, similar groups such as Secret New York began cropping-up around the country. The idea behind the group was that members wanted to share and learn about “hidden gems” in their city – that hidden-away Thai restaurant above the warehouse, or the secret bar you had to enter from the alleyway. I had read about Secret London’s success on TechCrunch, and after a quick search discovered that there was indeed no Secret Seattle, and so I decided to start one.
Read more5 Networking Tips from Dictators, Drunkards, Authors and Salesmen
I’ve come to a bit of a quarter-life crisis. Questions have been raised that I don’t have good answers to. “What’s the next step? “Where do you want to be in 5 years?” It seems we are all struggling with such questions. I can’t tell you how many amazing young people I know who have been axed in the past month – and how many more I’m talking to every day, who are 22, graduating, ready to take on the world, but can’t find a place to start. One recently came to me, asking for tips on how to approach his job search. I told him I wasn’t an authority on the subject, but I’d read a ton and talked to plenty of people who did know a thing or two. I decided to write some ideas down, especially the more unlikely ones.
Read more15 Tips for Marketing using Twitter
I was struggling with how to approach Twitter. I had read a ton about it. I had used it for months, slowly becoming addicted. But there didn’t seem to be any great way to market via Twitter. No best practices. So I decided to research it, and think about it, and come up with some:
Read moreGoogle Apps vs. Microsoft Office – The Next 3 Years
Here’s the problem. Microsoft Office was built in a world without internet. And until it’s clones free themselves from 1980s thinking, we will never see true innovation. Office was built in a world where you created a document, you finalized a document, and then you printed it out, and its existence continued as a static piece of paper in the real world. A letter is typed, printed, and mailed. It is static. That’s not how we operate today. Today, documents are living breathing things that evolve and represent ideas that evolve and have context. And an email is simply a way of communicating our current status, relationship, or news, it should not remain static. Today’s solutions still don’t come close to solving for this change.
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