Python for Entrepreneurs Transcripts
Chapter: Growth hacking basics
Lecture: Growth hacking marketing
0:01 You built your business, you've deployed your application,
0:04 you're up and running, but how do people discover you?
0:07 What if no one shows up? Unless you already have a customer list
0:10 of people who are waiting to get their other hands on your application
0:13 you're going to have to do some legwork to go out and get customers.
0:16 Previous chapter we talked about search engine optimization, content marketing,
0:20 and that can form the foundation for drawing customers.
0:22 But I'd like to go over some examples
0:25 of how to think about acquiring customers for your business.
0:27 I've titled this chapter growth hacking,
0:29 but really, growth hacking is software developers rediscovering marketing
0:33 and then rebranding it, because they didn't want to call themselves marketers.
0:37 Although when you think about it, it's kind of ingenious for developers
0:40 to rebrand marketing and do something may consider to be a hotter topic.
0:44 That's kind of what marketing is anyway.
0:46 Growth hacking can seem like one of those arcane arts
0:49 just like search engine optimization,
0:51 so I want to provide a simple framework to think about
0:53 how you can get started acquiring more customers.
0:56 And it all comes down to understanding your costumer funnel- what's the funnel?
1:00 The reason we call it a funnel is because
1:02 you can actually visualize it as a funnel;
1:04 the first step is getting awareness for your product.
1:07 Most people when they hear about what you've built
1:10 aren't going to be ready to buy, but if you can at least get them on your site
1:13 get them reading your content, get them to understand who you are,
1:16 that's the first step towards them potentially becoming a customer,
1:21 if they need what you're selling. There are many ways to visualize a funnel
1:24 and a lot of it's going to depend on what type of business you're building.
1:27 When you search for a customer funnel in google
1:29 you'll see a lot of different variations on the customer funnel.
1:32 I've just picked some steps that I think are likely to be the most appropriate
1:35 for the types of businesses that are enabled by building a web application.
1:39 Think about each of these customer steps throughout the funnel
1:42 and then figure out how they apply to your specific business.
1:47 Once a customer has awareness of your business,
1:49 only a certain percentage of them are actually going to be interested in what you're selling,
1:53 and that's fine, not everybody is going to be a customer of yours.
1:56 In fact, being specific about who you're selling to
1:58 is really important for making sure that you are actually
2:01 delivering something of value to your customers.
2:03 If they've got interest, they're likely going to evaluate what you have
2:07 even if you have a free product or a freemium product that you upsell parts of it later,
2:12 they're still going to evaluate whether they even want to take the time to use your product.
2:16 There are so many web sites out there,
2:18 so time is a valuable resource the prospective customers would need to spend
2:22 in order to determine and evaluate what you offer.
2:26 For those that evaluate and decide they want to take the time to try it out,
2:29 then you get to the sign up phase.
2:32 This is really where you can figure out if they've get through the sign up process
2:35 whether your application and your business
2:38 is going to suit the needs of prospective customers.
2:40 After they've signed up, they'll start using it,
2:42 and you can start getting feedback and engaging with prospective customers.
2:45 If you have A freemium based business,
2:48 the sign up and the payment could be two separate steps;
2:50 if you have a customer that using a free version of your product,
2:53 getting them to pay up whether for advanced features
2:55 or just to continue after a free trial period
2:58 is the ultimate goal for making sure that your business is generating revenue.
3:01 The customer journey doesn't end here-
3:04 you need to make sure that what you're delivering is a value to the customer
3:07 and that they want to continue paying for what you are offering
3:09 but typically, going from awareness to paying customers
3:12 is a hard enough problem on its own
3:14 and so that's what we're going to focus on with some specific examples
3:17 throughout this funnel, I have some good ideas
3:19 that you may want to try for your own business.
3:21 Again, I want to emphasize you can't just blindly take other ideas
3:24 and think that they'll work perfectly in your business;
3:26 every business is different, so the way that you're going to market yours
3:28 you really need to think through the implications of how you want to do that.
3:32 But, seeing some other examples of how other businesses do it
3:35 can be really helpful, rather than you having to start from scratch
3:38 with a blank sheet of paper to do your own marketing efforts.
3:41 Rather than just roll through a bunch of slides in the rest of this chapter,
3:43 we're just going to work in the web browser
3:45 and take a look at some examples of growth hacking- marketing.
3:49 The first step for any business is to generate awareness
3:51 and that's why I want to introduce a concept known as turkey carving
3:54 as you're spending so much time creating content, trying to draw in perspective customers.
3:58 As they're evaluating what you're building
4:01 there is some tactical advice around email campaigns
4:03 that's proven really successful for Michael, I'll show you what that details.
4:08 Now you may have people that are aware of what you do
4:11 and they're interested, but maybe getting them to use it is the really hard part,
4:15 and that's where putting out either a freemium product or in some cases
4:18 just open sourcing some code can be really powerful
4:21 for getting people to take that next step, from being interested
4:24 to actually using what you've got.
4:26 If one of the problems is just getting people to sign up,
4:29 take a look at some calls to action, how you can structure your landing pages
4:33 to increase the chances of someone signing up for your application.
4:37 Finally, we'll take a look at some pricing tables,
4:40 break down some of the psychology behind the way
4:43 that you may want to structure the pricing for your products and services.
4:46 Let's take a look at some of the examples so you can figure out the best way to market your own business.