5 Secrets of Growth by Lincoln Murphy

5 SECRETS OF GROWTH Lincoln Murphy, Founder Sixteen Ventures

Presented to:

June 3, 2015

5 SECRETS TO GROWTH Lincoln Murphy, Founder Sixteen Ventures

Presented to:

June 3, 2015

THE ONE SECRET OF

100% of the time, the biggest barrier to progress - traction, growth, etc. - is NOT being

DELIBERATE.

Deliberate = “done consciously and

intentionally”

Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Deliberate Growth Framework

Get Deliberate


Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Get Deliberate

Why Get Deliberate? •  Throwing a bunch of stuff at the wall and

seeing what sticks is for amateurs •  It wastes time, resources, energy,

money, etc.


Question! How many of you believe that, given enough time, money, and

resources, anything is possible?


HAND RAISING CLINIC!

Why Get Deliberate? • Grow because of – not in-spite - of your

efforts • No More Sloppy Progress!


Sloppy Progress •  Accepting any growth as good growth •  Focusing on Vanity Metrics •  Seeds of Churn are Planted Early



Churn = Bad


Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Get Deliberate

Question! How many of you had heard of

Customer Success before today?


Question! How many of you have

implemented Customer Success in your business?


customer success = “Your customer achieving their Desired Outcome

through their interactions with your company.”


Customer Success Management = “Proactively

managing the process of your customers achieving their

Desired Outcome” Deliberate Growth Framework

Customer Success is Hot


•  Part of the SaaS Business Model now • Driver of Customer Lifetime Value (LTV)

•  Longer Lifetime • More Revenue •  Second Order Revenue

When to do Customer Success?


•  Before you Launch (or Now) • Churn Kills

• Company Value • Morale •  Total Addressable Market

When to do Customer Success?


•  Only Acquire Customers with Success Potential •  Technical Fit •  Functional Fit •  Experience Fit •  Support Fit


Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Get Deliberate

What is Desired Outcome?


• What they want to achieve through their interactions with your company

• Required Outcome + Appropriate Experience

The Success Gap


•  Their Desired Outcome may only be achieved outside of your product

•  The best companies understand & bridge this gap

Question! How many of you have – or had -

an MVP?


Question! How many of you feel your MVP

is/was successful?



MarCom-Specific


Your customers don’t want to send an email, distribute a press release, or inject themselves into conversations on the web

MarCom-Specific


•  Your customers want more users, more customers, more revenue, etc.

•  If they fail to achieve that they will blame you (so… bridge the Success Gap)

Protip: How to use Desired Outcome in your Marketing


“Enter the conversation already taking place in your customer’s mind.” – Robert Collier


“Enter the conversation already taking place in your customer’s mind.” – Robert Collier, c1937


Success = Their Desired Outcome

The topic of the conversation in their mind

Success = Their Desired Outcome


Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Get Deliberate

Question! How many of you know what

FOMO means?


What is FOMO?


•  Fear of Missing Out •  “… we must sign that customer no matter what” •  “… ‘go wide’ … don’t narrow your focus” •  “… take that custom dev …”


experience FOMO before?


The Reality of FOMO


•  You ARE missing out by not focusing • Real, Actionable Insights •  It’s better to not sign a customer who’s a

bad fit now and possibly sign them later when they are a good fit


Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Get Deliberate


developed an Ideal Customer profile?


What is an Ideal Customer?


The customer type that – over a strictly-defined time frame - you will dedicate Sales and Marketing Resources to acquire.

Ideal Customer Profile Framework

Goal + Time + Maturity = Situation


Ideal Customer Profile Ready Willing Able

Success Potential Acquisition Efficiency Expansion Potential Advocacy Potential


Ideal Customer Profile

Ready

Willing

Able

Success Potential

Acquisition Efficiency

Expansion Potential

Advocacy Potential

Situation


Situation DETERMINES Success How are you doing 30-days in? On your way to the 90-day goal?

Is this just Persona Mapping?


• No. •  Persona mapping comes AFTER you’ve

identified your Ideal Customer •  Personas are different depending on

customer type

Ideal Customer Profile is Powerful


• Deliberate Customer Acquisition! • Generally you can only test tactics; this

allows you to test customers •  Kills FOMO because it’s temporary


Customer Success

Desired Outcome

Eliminate FOMO

Ideal Customer

Get Deliberate

Lincoln Murphy @lincolnmurphy

http://sixteenventures.com

5 Secrets of Growth by Lincoln Murphy

Marketing

good growth

customer success management

customers dont

sloppy progress

progress traction

order revenue

vanity metrics seeds

saas business model