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AMAs

We are living in unprecedented times, and it’s ok to be unsure about what strategies to deploy to market your startup’s services and product. Everything is new, and that’s why it’s so important to get together to discuss this new scenario and how it will impact all the stages of the Growth Hacking Funnel. We’ve put together a team of growth specialists from different parts of the growth funnel to answer your questions about how to grow your startup in this new scenario.

 

☑️ Watch the full webinar!<<<<

 

👨‍💻Who is it for:

CEOs, Growth Practitioners, Marketers, and Product Managers from tech companies and startups.

 

🙋Send your questions:

You can send you questions on this page. Our hosts will answer them in a live webinar airing on May 4th, 12pm ET. After the event, you can check the transcription of your answers here.

 

 
Who are our hosts?
 

Olga Bartnicki, Managing Director at Barclays Accelerator: Olga is an experienced entrepreneur addicted to turning a sandbox of ideas into revenue-generating businesses. She is driven by scaling a new proven product/market match. At Barclay's Accelerator, she is helping FinTech startups to change the financial sector.

Zoltan Szalas, Senior Product Manager Growth at IBM: Zoltan works across IBM's machine learning & AI portfolio of products to uncover growth opportunities, increase user satisfaction, and achieve specific revenue objectives.

 

Samantha Crowell Richard, Director of Growth at OpenView: Samantha helps to build software companies into market leaders. Through OpenView's Expansion Platform, she helps companies hire the best talent, acquire and retain the right customers, and partner with industry leaders so they can dominate their markets.

Robert Derow, Managing Director & Partner at BCG Digital Ventures: As a Partner with BCG DV, Robert is responsible for developing go-to-market strategies and commercialization methods for cross-industry ventures and large enterprise organizations. In this capacity, he partners with influential global corporations to prioritize and resource marketing tactics and develop high-growth and sustainable ventures.

 

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  • GP

    Gabe Paley

    3 months ago #

    I'm a marketer at a pre-launch startup and one of my primary goals is to run small-scale growth experiments that will inform our decision-making a year from now (e.g. What messages resonate with customers? Which channels are most cost-effective?). I'm concerned that a lot of the data that comes back today may be irrelevant even a few months from now given that the world — and the average consumer's concerns and priorities — are changing so rapidly.

    Is that a valid concern? What would you do if you were in my shoes?

    • EC

      Emília Chagas

      3 months ago #

      Hi Gabe! This is such a relevant question, I'm looking forward to watching the AMA next Monday and finding out more about it. Are you familiar with this PMF approach: https://growthhackers.com/articles/how-superhuman-built-an-engine-to-find-product-market-fit ?

    • LW

      Live Webinar

      3 months ago #

      Zoltan: This might be one of the cases where you could take advantage of prices being so low and just to see if there is any sort of resonance within the market and that will kind of start to shape the the the customer profile, you know. But just kind of take a grain of salt that, again, like these are very different times. So the data may be skewed. But if you just want to get an idea of some sort of market validation, this could be a good opportunity to take advantage of the reduced prices, not really knowing more without really knowing more.

      Pre-launch start-up and we're just trying to validate the market, just run some ads, get some feedback, and see how people are interacting. You know, if you have a landing page or anything like that and kind of keep it simple.

  • LD

    Linh Dao

    3 months ago #

    Is it better for a startup’s marketing in its growth phase to be closer aligned to product or sales? Is product-led marketing strategy a good strategy and what would be required to make it work?

    • LW

      Live Webinar

      3 months ago #

      Sam: I don't think that there is necessarily a tradeoff between aligning closely with product or sales. I think if you have the right team DNA from the beginning and it sounds like you are sort of very young in your maturity as a startup, I think that some of the best examples out there are actually Expensify, which has this sort of product like go to market engine. But their sales team is very actively involved. I think Slack is a great example and they have this very strong product-led go to market engine, but their sales team is incredibly involved.

      I think if you have product growth in your DNA, sales folks are some of your strongest advocates for your end-user and for your buyer. So there are folks who are bringing information back from the market and hopefully working with your products team to put it back in the product. So one of the worst-case scenarios I've ever seen has been people who treat products sort of like an ivory tower, folks who are not necessarily talking to users or who are not touching the money or the revenues of the organization and who are not responsible for revenue-based KPI.

      And I think that's a real problem. I think some of the best companies that I've seen are starting to grow are actually making product owners responsible for sharing some percentage of the revenue guys as well. So maybe that's a nonanswer, but I think aligning with that is the best-case scenario.

  • LW

    Live Webinar

    3 months ago #

    Rebecca (Live Webinar): During this period, how can one overcome the challenges of finding one's first enterprise client?

    • LW

      Live Webinar

      3 months ago #

      Zoltan: Hey Rebecca! What we've seen at IBM is that enterprises are looking to cut costs and are staying put for the most part. However, that gives you an opportunity to do a free or low-cost pilot for your solution with a pricing strategy that kicks in post-COVID.

  • LW

    Live Webinar

    3 months ago #

    Andrea: Did COVID affected your investment strategy or amount of funds to be invested?

    • LW

      Live Webinar

      3 months ago #

      Robert: Yeah. So so again. So we'll take corporate funding. So I would say that what's changed is the desires of the corporate. So three years ago, there was a lot more appetite for risk and an adventure, I should say. So like even building new businesses that are not even adjacent to the core or anything to do with the core, they were maybe really upstream or downstream. What we're seeing now is that a lot of these corporate they're looking for closer to the course and maybe digital attackers or maybe something that just actually helped them digitize what they're currently doing.

      So I'll give you an example. You know, there's a company that is traditionally a manufacturer of cleaning and paint products, and so they were largely going through contractors. Now they're looking at e-commerce and they're looking at the digitization not only of the direct to consumer channel but also the way that they liaise with all of their contractors as well as institutions. And they're like, OK, you know, we were probably going to get into e-commerce in three years and now they literally want to do it like tomorrow.

      And so what we're seeing is a lot of these companies say surveying the landscape to say, OK, who's doing the digital function of what we've done traditionally really well. So we're seeing it again in health care and finance and communication, obviously in entertainment, even where you're seeing brick and mortar say how do we get a digital equivalent? And so that's where we're seeing a lot of investment or appetite, is that you look at these massive corporates with tons of cash on the sidelines saying, OK, now is the time for us to completely digitize and throw legacy channel conflict to the win

      And I would imagine, you know, a lot of investment strategies for venture capital would be similar, but I don't want to speak specifically to that. But I think what you're seeing is this kind of pullback to businesses that are going to have a lot of upsides, as well as kind of sustainability and strong unit economics in the coming months and years versus moonshots. I think they'll be a little bit less appetite for that at the moment, or I'm seeing less appetite for that at the moment.

  • LW

    Live Webinar

    3 months ago #

    Eric Liao (Live Webinar): During these times, what recommendations do you have for platform companies that are both B2B and B2C?

  • LW

    Live Webinar

    3 months ago #

    Christopher Storaker: Which strategies would you suggest to grow existing customers in this environment? Or at least retain :)

    • LW

      Live Webinar

      3 months ago #

      Zoltan: If you know, B2C I think people are very price sensitive right now. People are going through a crisis. So if your product is high price and perhaps not as much of a soul need, I would recommend maybe trying out different pricing strategies or giving some sort of pricing forgiveness. Given that it's a digital product and perhaps your margins are pretty high, you might want to explore some type of forgiveness or getting people to maybe by giving them a couple of months free in exchange for a longer-term commitment.

    • LW

      Live Webinar

      3 months ago #

      Robert: One space that I would definitely try to investigate and spend more time is on the B2B marketplace side. Again, kind of looking to industries that have been slow to embrace digital. So, you know, maybe if you're a B2B and with B2C dynamic, you know, is there an element where you introduce other businesses to that ecosystem?

      And again, maybe not right now, you'll see a ton of growth, but coming out of this thing I guarantee you, you're going to see the digitization of some of these more antiquated industries stay. And the winners are going to have full and digital journeys there.

      So I think that would be a really interesting space to get to. Maybe it's a slight pivot if your business isn't doing great on the B2C acquisition side. And something that might take a little bit more time with the sales team.

    • LW

      Live Webinar

      3 months ago #

      Zoltan: One of the things that I advise the startups that I deal with is like if if you're a B2C company right now and then your sales are slowing down, then maybe this is a time where you look back and you look into how you can implement something like a CDP, like a customer data platform or look on maybe this is a time to incorporate a platform or the project that you've been putting off that may not necessarily yield new customers right now.

      But perhaps when you coming out of this, you're going to have such a holistic view of your user experience that perhaps in the long term that's going to significantly increase your growth.

  • LW

    Live Webinar

    3 months ago #

    José Carlos Aguilar Rincón: What would you recommend a lending startup to do when wanting to raise loan capital after covid 19? We are a consumer lending startup focusing on serving the gig economy with short term loans

  • LW

    Live Webinar

    3 months ago #

    ElKendall: @Robert In your introduction, you referenced a “customer acquisition engine” incorporating Agile, Growth Principals and Evaluating Full Customer Journey. Do you have any published resources about this “engine” view? And, what specific tools > software, processes or milestone do you use with your team and recommend to startups?

    • LW

      Live Webinar

      3 months ago #

      Robert: I think it's I mean, it's a great question. I think that's. You know, I think at the core of the definition of growth is like basically looking holistically at LTV and customer acquisition costs and all the drivers in between. And so when we roll out a venture or go help a corporate, it's basically a test and learn data-driven approach.

      First, foundation analytics and attribution. And to the extent, you can figure out attribution and then kind of working your way through kind of classic customer journey, you know, from awareness, consideration, purchase retention, repeat usage, etc, and then really just being incredibly data-driven.

      So the tools that we use are, you know, traditional stack tools ranging from startup to enterprise, depending on the company. And it's really about how you can get the data you need to make the decisions you need to make and then do it in a wash, rinse, repeat way. So whether it's one week or two-week sprints or whether, you know, daily or hourly optimizations, it really depends on what you're trying to solve for.

      So without kind of spending hours on it, I think, you know, it's about having the foundation and analytics, the data-driven approach. You know, the tactical expertise. And then to really just work through the respective channels and then also to think holistically. So try to get the LTV and then try to get the customer acquisition cost at the most granular, statistically significant level. So what I mean by that is, you know, it could just be a search of the keyword level, understanding what the cost of acquisition is and the LTV and the margin, the desired margin you want and then, you know, keep exercising that across every variable that has significance.

  • LW

    Live Webinar

    3 months ago #

    Jean Claude: Moja Ride is like Revolut and CityMapper in one App. We provide consumers with a Mobile Wallet and transport operators booking solution. We are trying to scale our Mobile wallet to power online payment for local small businesses and delivery companies. Do you implement electronic payment for vendors first or the delivery companies?

    • LW

      Live Webinar

      3 months ago #

      Zoltan: I think it depends on, you know, the least barrier to entry. You never want to keep banging your head against the wall. So you find that one of those segments is more receptive to adopting your solution. That I would probably go with that and seal that as fast as you can before you look at the other segment.

  • LW

    Live Webinar

    3 months ago #

    Babacar Niang: What sectors will be disrupted the most after this pandemic?

    • LW

      Live Webinar

      3 months ago #

      Olga: Whatever is perceived as luxury probably will stay affected the longest. Now, what's affected luxury in the physical world and what's sort of perceived as luxury, if you will, in an electronic world, are slightly different. But considering the thinking, even after the situation changes, the thinking of preserving cash and running very efficiently is likely to stay for a while and last within companies and within the investment community for a while.

      If people can feel they can sort of live without it or somehow be scrappy around it, you are better off. Think about not losing and retaining them. So over time will offer some sort of discounts for certain times so that when the psychology shifts eventually, later back again, you know, you could increase some pricing points back to that same level at the same time as on the other side of an operator.

  • SA

    Samir Achache

    3 months ago #

    How many did coronavirus impacted these corporations ?

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