1. Dr. Sean Wise, BA LLB MBA PhD
Filling the Funnel

2. In this module you will learn:
Where to find users, customers and clients
How to track success with Pirate metrics
How to manage a funnel
Web resources to get your started
Fundamental startup sales perspectives

3. Where are we? Picked a target market
Undertook customer discovery interviews
Built a customer persona
Drafted our first Lean Canvas
Identified the largest most inelastic unmet market need
Noodled on a variety of solutions to turn that unmet market need (i.e. opportunity) into a valuable venture
Created a straw MVP to begin testing for Problem / Solution Fit

4. Product Market Fit Scale now
Startup Lifecycle
Product Market Fit Scale now
(LTV > COCA)
Problem Solution Fit
You are Here!

6. You are searching for EVIDENCE of Problem / Solution Fit, how will you know you have found it?

8. Problem / Solution Fit
A problem is worth solving if more than 40% of the TestPop identify it as a top 3 issue
You will know you have found it when:
Customers are already hacking their own solution
Pilot Users refuse to give back prototypes
Current solution is 10x more costly, slow, bulky, unsatisfactory

9. You have an MVP What’s Next?

10. What’s an MVP?
A MVP is “that product which has just those features and no more that allows you to ship to early adopters, at least some of whom resonate with (e.g. pay you money for) and provide feedback on”
Doesn’t have to be just money, but must be more than words, must be a measurable action:
Signups
Downloads
Use

11. What is an MVP?
Minimum: MVP contains the core features and everything that isn’t a MUST HAVE is stripped out
Viable: MVP can be built and have opportunity to gain traction
Product: MVP creates value for people

12. Purpose of MVP Maximum learning with minimum effort
MVP is an experiment to turn lean canvas assumptions into validated learnings
Maximum learning with minimum effort
Time and money are scarce
Offers focus and execution
Builds early traction
Crystalizes customer input, helps refine solution and minimize scope creep
The goal of the MVP is to test your understanding of the customer’s problem & see if your solution will prompt him to adopt your solution based on important features alone – Bernard Leong

13. You have created an MVP Explainer Video MVP Landing Page MVP
Wizard of Oz MVP
Concierge MVP
Piecemeal MVP
Crowdfund MVP
Single Feature MVP
From VLADIMIR BLAGOJEVIC ’s blog

14. How to Test your MVP Customer Interviews A/B tests Ad campaigns
Crowdfunding
Blogs, Product Hunt & Reddit
Paper prototyping
Buy now buttons

15. Next: move from MVP testing to Customer Acquisition

16. Customer Acquisition

17. Remember the long term goal is Product/Market fit (COCA < LTV)

18. Track your interactions against Pirate Metrics

19. Track your interactions against Pirate Metrics

20. Track your interactions against Pirate Metrics

21. This is really sales funnel

22. Track your interactions against Pirate Metrics Record results in Sales Funnel & Dashboard
Start small: Where will we find our first users?
Focus on 1 action: We want people to sign up (download, buy, etc) on our landing page.
Run experiments: How much will a google ad word cost me? What percentage of clicks through become users (e.g. download, buy, sign up)
Repeat experiments to get comparable data:
It takes $10 to get a sign up through google ad words, but only $5 through facebook.
Let results drive you: Use more facebook ads to determine, which ad content drives more signups.
Only move on to Activation once you have found a low cost friction free method for acquisition

23. Track your interactions against Pirate Metrics Record results in Sales Funnel
CRM ‎

24. Funnel Principles to Remember
It all starts with your audience.
People move down the funnel when they get something.
At each step, when people move down the funnel, there is a call to action.
The goals at each step of the funnel have to be in-line with that final goal

25. Types of Acquisition Experiments
Blog
Viral Loops
Social Selling
Social Media
Content marketing (e.g. Articles on Huff Po)
Host a AMA
Case studies and White Papers
Reviews & PR (e.g. Techcrunch)
Early adopter communities (e.g. Product Hunt, Reddit)
In person conferences, competitors
Leverage network
Scrape FB and LinkedIN for cold leads)
Free ebooks
Online Ads (FB, Google, LinkedIN, iAds)
Add a hello bar
marketing
For more read this:

26. Types of Acquisition Experiments

27. Building a Customer Acquisition Process
1.Define your ideal customer
2. Define your goals, milestones and priorities
3. Map your acquisition funnel
4. Know your metrics
5. Track everything from day one use a KPI Dashboard
More:

28. Building a Customer Acquisition Process

29. Further Reading on Customer Acquisition
Building out the funnel:
How to fix a leaky bucket:

30. Startup Sales Perspectives
Nothing happens until someone makes a sale. Absolutely %$#&! nothing.

31. Startup Sales Perspectives
No one cares what you are selling. They only care about what they are buying.

32. Startup Sales Perspectives
No one ever got fired for buying from IBM.
Managers don’t hire the best, they hire those who won’t get fired.

33. Startup Sales Perspectives
the goal is moving a deal forward or getting a firm “no” as early in the process as possible
great opportunity to learn why someone who you think should buy your product doesn’t want to
the key to making it work is being persistent - really persistent, even to the point where it’s awkward and uncomfortable

34. Startup Sales Perspectives
HUSTLE. Show up. Follow up. Close.
High tolerance for rejection
Each rejection is a learning opportunity
great opportunity to learn why someone who you think should buy your product doesn’t want to

35. Startup Sales Script

37. Startup Sales Perspectives
If you need to learn how to sell or refresh old rusty selling skills, these books are highly recommended:
Spin Selling
High Probability Selling
Selling to VITO

38. Startup Selling
Still lean, still seeking to address uncertainty via learning experiments
View all sales as a process of elimination, learning what Doesn’t Work
Looking to crystalize the lowest friction path to growth
A startup is……looking for a repeatable scalable business model

39. The path to certainty

40. In this module you learned:
Where to find users, customers and clients
How to track success with Pirate metrics
How to manage a funnel
About Web resources to get your started
Fundamental startup sales perspectives

41. End of module 6