Online Marketing and Metrics Presentation at UEIA, 2012
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Presentation of Product Strategy, Online Marketing and Metrics at Social Startup Accelerator, UEIA. December 2012
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Online Marketing and Metrics Presentation at UEIA, 2012
- 1. Online Marketing and Metrics: because everything counts Justo Hidalgo jhidalgo@24symbols.com @justohidalgo
- 3. Hi! ■ Co-founder, ■ Data Integration and Management, Product Strategy and Innovation ■ Ph.D. in Computer Science on Data Integration and Web Automation ■ Ergo: Love Data ■ @justohidalgo
- 4. 24symbols is a service to read digital books on the Internet based on a subscription model = cloud + social + freemium @justohidalgo
- 5. 40000 45000 50000 55000 60000 65000 70000 75000 80000 85000 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 @justohidalgo Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12
- 6. My goals today Basic marketing and product strategy • The Whole Product • Segmentation, targeting and positioning Online marketing 101 • Two big realities (not trends anymore!) • SEO, SEM, Social media Metrics A/B Testing
- 7. What I won’t talk about Qualitative measurement • Competitive landscape, UX quality, … Standard financial metrics • Revenue, Balance, Burn rate, Runway, … All possible metrics in the world • As many as asses
- 8. Strategic Planning Source: Tony Seba’s High Tech Marketing course @ Stanford U.
- 11. The dude that invented the wheel was an idiot. The one that invented the other three was a genius! Sid Caesar
- 12. What if you want to “productize” a “Hello World” program?
- 14. The Whole Product Potential Product Augmented Product Expected Product Producto Producto Potencial PRODUCT Aumentado
- 15. Product Potential Product Augmented Product Expected Product Producto Producto Potencial PRODUCT Aumentado
- 16. Expected Product Potential Product Augmented Product Expected Product Producto Producto Potencial PRODUCT Aumentado
- 17. Augmented Product Potential Product Augmented Product Expected Product Producto Producto Potencial PRODUCT Aumentado
- 18. Potential Product Potential Product Augmented Product Expected Product Producto Producto Potencial PRODUCT Aumentado
- 20. Segmentación
- 21. (and I don’t wanna cook!)
- 22. People don’t want to buy a ¼’’ drill. They want a ¼’’ hole!!! Theodore Levitt, Professor of Marketing @ Harvard
- 23. Value creation: the product benefits bring something new to the user
- 25. What’s a market segment ■ Group of clients or potential clients of a set of product/services that posess a series of needs, behavioral patterns and common characteristics, and that communicate among each other when deciding upon a purchase decision.
- 26. Tipos de segmentos ■ Geography (e.g. Per region) ■ Size (e.g. Per income, revenue, growth rate, …) ■ Industry (e.g. Per SIC code) ■ Purchase type (e.g. Centralized vs decentralized) ■ Personal (e.g. Risk profile) ■…
- 27. Targeting Evaluation and prioritization of the market segments Based on how creative a market is, and how it can be served by our product Bullseye, © Marvel Corp.
- 29. ■ Product must be positioned w.r.t. two elements: • Client needs • Competitors
- 30. How to position ■ Relative to technologies, products o processes ■ Relative to competitors • Avis: “We’re #2, that’s why try harder” ■ Finding a unique niche • Genentech: “small” ($300M-$600M) oncology markets ■ Becoming a category leader
- 34. There are two earthquakes going on
- 35. One: your users are not playing at YOUR HOUSE … and that means that…
- 36. … they are PLAYING ELSEWHERE…
- 37. … so you need to be where conversation happens…
- 38. This means… 1. Listen, pulse 2. Analyze 3. Establish conversations… almost always
- 40. Two: whatever you do, it will be recorded
- 41. The BIG mistake Cisco just offered me a job! Now I have to weigh the utility of a fatty paycheck against the daily commute to San Jose and hatingthe work.
- 42. Dude, you ain’t uploadin’ this to Facebook, right?
- 44. … but that’s the difference…
- 47. Cluetrain Manifesto 1. Markets are conversations 2. Markets are comprised by human beings, not demographic sectors 3. Conversation among human being sounds human ■ … and other 92 thesis http://www.cluetrain.com
- 50. Basic, basic, basic introduction For more info, check: ➤http://www.slideshare.net/randfish/introduction-to-seo- 5003433 ➤http://www.seomoz.org/beginners-guide-to-seo ➤http://www.slideshare.net/randfish/fundamentals-of- great-seo ➤http://www.slideshare.net/randfish/the-evolution-of- googles-rankings ➤http://www.slideshare.net/ajaxlogos/meet-panda-seo- google-the-algorithm-and-publishing ➤http://www.slideshare.net/humanlevel/posicionamiento- en-buscadores-seo-y-sem-bsicos
- 51. Basic types of promotion ■ Sales promotion ■ Advertisement ■ Sales force ■ Public relations (PR) ■ Direct marketing
- 54. Organic vs Paid Search
- 55. Organic vs Paid Search 10% of Clicks 90% of Clicks
- 56. SEO is the practice of improving and promoting a web site in order to increase the number of visitors the site receives from search engines.
- 57. Marketing in search engines ■ Advantages • Top ranking captures 90% of clicks • No cost per clicks • Helps select prospects during discovery stage • Content beats budget (by now!) ■ Cons • No guarantee • Takes time (months!) • Difficult to control • Difficult if competitors are already positioned
- 60. Reasons to take care of SEO Deep Web • Search • Submission-required forms Links in un-parseable javascript Robots.txt or meta robots tag • Is Google a rogue bot? Frames, iFrames • They *should* work Flash, applets, … 100’s, 1000’s of links on a page • Search engines don’t crawl ALL of them
- 62. Keywords
- 63. Trends
- 64. Don’t look like a Farm site Old SEO tricks don’t work anymore: • Reciprocal link pages • Keyword-variant abuse • Generic design and layout (watch out CMS tools!) • Anonymous contact forms • Keyword-stuffed titles and pages • …
- 65. Marketing in search engines ■ SEM: Search Engine Marketing ■ PPC: Pay per Click ■ Used in paid searches ■ E.g. Google AdWords ■ Paid per keyword use ■ Advantages • Control on ranking, text and “landing page” • Typically uses “auctions”. One can compete • Campaigns can be tested ■ Cons • No pay, no exist • Not so reliable • Expensive • If someone pays more, wins
- 66. Marketing in search engines ■ Contextual advertisement ■ E.g. Google AdSense ■ Advantages • Good for branding • Not just in search engines! blogs, facebook, twitter, … • Easy to test ■ Cons/Challenges • Do FB users want to click on ads when chatting? • Difficult (i.e. expensive) to test and succeed
- 67. Social Media + SEO: big win Facebook shares Twitters tweets, RTs Google +1s Youtube … These are all taken into account by Google, Bing
- 71. When to promote and how
- 73. Let’s talk about metrics and startups!
- 74. Watch this… 500startups’ Dave McClure
- 75. … and this! Carsonified’s Ryan Carson
- 78. AARRR Acquire Activate Retain Refer Get Revenue SEO Landing Content Campaigns Shopping SEM Page (blogs, Emails cart Campaigns Product articles, … Subscriptions Email Features …) Lead Gen Blogs … Emails … … Alerts … traffic social business
- 79. Traffic Metrics
- 80. Acquisition How do people find your site?
- 82. @justohidalgo
- 84. 15 seconds in “La 1”
- 85. Metrics Number of visits Distributions (per browser, region, …) Bounce rate Number of page views
- 86. AActivation How sticky is your site?
- 89. Metrics # Sign ins!!! Recency (time since user did 85000 something meaningful) 80000 75000 70000 65000 60000 55000 50000 45000 40000 Time per page Time on site (and churn as well!!!)
- 90. Biggest Apple Reseller in Spain 1-year subscription to 24s per iPad/Mac purchased @justohidalgo
- 91. AARetention Why do users come back?
- 94. Metrics. The standard ones… Number of unique/returning visitors Visits over time Average session time
- 95. … engagement… D/WAU: Daily/Weekly Active Users MAU: Monthly Active Users D/WAU Stickiness = MAU
- 96. … but also domain-specific!!! # Active readers # Books read per user Pages read per active reader per month Pages read per paid user per month
- 97. Social Metrics
- 98. AARReferral Do people talk about your site?
- 99. Types of users Visitor Contributor Distributor
- 102. Virality Amplification rate: • (#shares, #RTs, …) K-Factor = AR * conversion rate • = 1: steady state • > 1: growth ➤ 1.4 < x < 2.1 => hot & viral!!! • < 1: decline
- 103. The Four Viral App Objectives % viral hosts Contact rate per active host Duration of each active host’s infectious time period Infection conversion Source: http://framethink.wordpress.com/2008/01/15/the-four-viral-app- objectives-aka-social-network-application-virality-101/
- 104. @justohidalgo
- 105. Business Metrics
- 106. AARRRevenue Do you make money?
- 109. 3 (main) metrics for SaaS CMRR LTV CACR
- 110. Churn
- 111. CMRR SaaS = recurring revenues CMRR = Committed Monthly Recurring Revenue • Recurring + new accounts + new upsells – churn
- 112. LTV ARPU * 100% Churn rate Lifetime Value = Source: http://blog.kissmetrics.com/how-to-calculate-lifetime-value/
- 113. Customer Acquisition Cost gross margin per customer CAC Ratio= sales/marketing costs per customer Bessemer: average ratio of SaaS companies = 0.6
- 114. LTV vs CAC Of course, LTV > CAC But, moreover: LTV > 3x CAC
- 115. Freemium. Conversion Rate Free Users Delayed subscription Premium (test the service & engage) Conversion Rate Time @justohidalgo
- 116. Freemium for Books. Price per page Price/page Profit threshold Growth Consolidation time/conversion rate @justohidalgo
- 118. One key question for the whole AARRR cycle ■ How effective is a web page compared to another? ?
- 119. What’s A/B Testing? Visitors are randomly distributed Version A Version B time 1200 new users 1000 new users Version A is better than B
- 120. What should you test? The call to action’s (i.e. the button’s) wording, size, color and placement, Headline or product description, Form’s length and types of fields, Layout and style of website, Product pricing and promotional offers, Images on landing and product pages, Amount of text on the page (short vs. long) … anything that you think it might affect your Key Metrics.
- 121. Is A/B testing perfect? Very good for ONE-SINGLE-GOAL projects where the KPI can be measured by counting actions • E.g. Downloads vs Quality perceived Granularity of the A/B test is paramount • If “A” better than “B” or is it just that the headline in B is horrible, but the rest is much much much better than “A”? A/B testing is suboptimal* * Recommended: http://untyped.com/untyping/2011/02/11/stop-ab-testing-and- make-out-like-a-bandit/
- 132. Conclusions
- 134. @justohidalgo
- 135. 2. Have someone taking care of it
- 136. 3. Only measure what you truly care about @justohidalgo
- 137. But again, choose right
- 138. 4. Beware vanity metrics…
- 139. … they may hide an awful truth
- 140. Thanks for your time! Justo Hidalgo http://www.loscuentosdelabuelo.com jhidalgo@24symbols.com @justohidalgo
- 141. Credits Olivier Guin, from The Noun Project Dima Yagnyuk, from The Noun Project Redesign from Otl Aicher’s icon, from The Noun Project Axsys, from The Noun Project Monika Ciapala, from The Noun Project Rob Schill, from The Noun Project Martin Karachorov, from The Noun Project Alexandre Mendes, from The Noun Project All other icons from The Noun Project Publishers trademarks, logos and brands belong to their respective companies.
Notes de l'éditeur
- Features: concreteBenefits:subjectivetothecustomer
- People don't want to buy a quarter-inch drill. They want a quarter-inchhole!
- “Feelthepain”: a los clientes les puede resultar muy complicado el articular sus necesidades.
- Reposicionamiento: de champú para bebés a champú suave para todos