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Lean advertising 101 - Paid Acquisition for Startups

  1. Lean Advertising 101 Paid Acquisition for Startups @clementdelangue from @Curioos
  2. Why entrepreneurs don’t try it (and why they’re wrong)?
  3. “We focus on product development to reach the Product Market Fit” Paid acquisi*on will allow you to test and ! get to product market fit ! much faster. !
  4. “We don’t have a marketing budget” How much of the founders *me (aka big money) is spent on ! growth? With paid acquisi*on, you can start ! at $5 a day.
  5. “We don’t have either the expertise or time.” ! It took us 6 days from start to scaling to $10k/ month budget with a posi3ve ROI for Curioos. !
  6. Ready to try? 3 steps to scale in a week
  7. #1 Get your Analytics ! right! !
  8. Cover the user funnel as much as you can… Ad#impression# Website#visit# Sign#up# Conversion# Reten5on# # At Curioos, we’ve added to our Google Analytics setup: ! * The e-commerce module to track conversions. ! * A spreadsheet to track all our campaigns with url builder (courtesy of @Jolg42 from 20 degrés à l’ombre. ! PS. make sure it’s accurate by excluding internal traffic.
  9. …as largely as you can. We’ve added the Demographics and Interest Reports.
  10. Focus on a few main metrics and proxy metrics At Curioos, our main metric is revenue. ! ! Use proxy metrics if you need. ! Ex: we’re also using bounce rate + time on site + pages / visits as a proxy for conversion to let us experiment with low volumes (not perfect but better than nothing). Good metric = ! Relevant for your long-term success ! + ! ! Easy to measure & follow on a day-to-day basis
  11. #2 Experiment, experiment, ! experiment !
  12. Choose your experiment channels We’ve tried: ! Adwords (mainstream) Facebook (mainstream) Twitter (mainstream) Fancy (vertical) Amazon Art (vertical) Adroll (retargeting) Good Paid Acquisition Mix = ! A mainstream channel (Adwords/Facebook/Twitter/…) ! + ! ! A vertical channel to diversify the risk.
  13. $5 to $15/day per experiment Analyze, compare all the steps of the funnel, from impression to conversion, and iterate every 3 days.
  14. Example of our first negative experiment
  15. Example of our first positive experiment
  16. #3 Iterate ! & Scale !
  17. Our scaling process to get to $10k/month If A_ROI > 0 then A => M M1A M1 M1B Experiment Main Branch A B If MIA_ROI and MIB_ROI < M1 then M2 => M1 x 2 M2A M2 M2B If M2A_ROI > M1 >M2 then M2A => M3 M3A M3 M3B … …
  18. Don’t make these mistakes (we did)
  19. Don’t make these mistakes (1/3) Optimizing for the wrong goal If you’re doing CPC, optimize for conversion post-click. ! If you’re doing CPM, optimize for Click-through- ! Rate.
  20. Don’t make these mistakes (2/3) Trust esthetics rather than figures <= performs 30% better than ==> ! Can you say why? (I can’t)
  21. If the ROI is good, scale as fast as you ! can (because it may not last forever) ! ! Don’t make these mistakes (3/3) Capping the budget
  22. That’s all (for the moment - still learning) @clementdelangue from @Curioos