Peter Schlegel, CEO, Admazely

The story of how

went bankruptgrew 100% month-on-month

What we did

Visits webshop Abandons purchase Sees retargeting ad Completes purchase

Webshop Crawls, scrapes Machine learning UI with all products and unique banners

What a consumer does

What Admazely did

# of active customers

Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09R&D

Active fundraising

# of active customers

Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09R&D

Bankruptcy

(FOUNDER) LESSON:Gain traction before you need to fundraise

Jun/12 Aug/12 Oct/12 dec/12 Feb/12

May/12Jul/12 Sep/12 Nov/12 Jan/13 Mar/12

Apr/12

Our sales funnel in February 2013Leads Qualified

leads

Calls

DemosPilots

MRR

GROWTH HACKER LESSON:Quantify critical conversions from day one

Conversations

<40%60%8%30%??????

Skype logs per sales rep

manipulating in Excel(IF call duration >90 sec = conversation)

ZoHo CRM = $25 / mth

e-conomic

NOW…A FEW ACTUAL HACKS

Pilots -> MRR:failed because of unknown unknowns

Leads Qualified leads

Calls

DemosPilots

MRR

GROWTH HACKER LESSON:Gain domain-specific knowledge as early as possible

Conversations

<40%60%8%30%??????

Optimising the actual retargeting

Our ladder of sophistication

Surely, this is as easy as scratching

my own ass

Dammit, I’m spending a lot of

time in this interface looking at reports

Nice, automated data extraction to Excel and loads of

pivot tables

Hmm… we’ve got a phd in machine learning and a theoretical physicist in our team – maybe they know a thing

or two about data…

Demos -> Pilots:kind of solved it

Leads Qualified leads

Calls

DemosPilots

MRR

Conversations

<40%60%8%30%??????

Product didn’t quite work – so we hacked it

Builtwith

GROWTH HACKER LESSON:Find niche audiences you can optimise for

Conversations -> Demos Pilots:kind of solved it

Leads Qualified leads

Calls

DemosPilots

MRR

Conversations

<40%60%8%30%??????

Pre-populating demo account with Shopify customers own site/products made this metric explode

GROWTH HACKER LESSON:Product (hacks) is the best way to optimise conversions

Conversations -> Demos Pilots:kind of solved it

Leads Qualified leads

Calls

DemosPilots

MRR

Conversations

<40%60%8%30%??????

No hack, just leadership

Conversations -> Demos Pilots:kind of solved it

Leads Qualified leads

Calls

DemosPilots

MRR

Conversations

<40%60%8%30%??????

This was where we were really wasting time and money

What our idiocy looked like

Segment• Small-to-medium webshops• Owner/manager OR• Marketing manager• In UK

Process• Buy D&B database• Manually find company

online• Try to figure out if they had

a webshop• Find telephone number• Call reception for name• Convince reception to

transfer call

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

Google Keyword Planner

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

We wrote a robot/crawler

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

Bot

Search thousands of terms one at a time

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

Bot

Perform 1000’s of google searches

Click paid ads (= marketing budget)

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

Bot

Perform 1000’s of google searches

Get list of 10,000’s leads

Click ad -> visit site

Look for ”basket/cart” in page source

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

Bot

Perform 1000’s of google searches

Get list of 10,000’s leads

Get list of 10,000’s pre-

qualified leads

Get Alexa-rank for all

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

Bot

Perform 1000’s of google searches

Get list of 10,000’s leads

Get list of 10,000’s pre-

qualified leads

Get list of 10,000’s

qualified leads

New process

Segment(e.g. Fashion)

Brainstorm for 250 search

terms

2500+ search terms for fashion

Bot

Perform 1000’s of google searches

Get list of 10,000’s leads

Get list of 10,000’s pre-

qualified leads

Get list of 10,000’s

qualified leads

Handover to interns Call for info Handover to

sales Call to sell

RBITDAB(Results Before Interest, Taxes, Depreciations, Amortisations and

Bankrupcy)

Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09R&D

Jun/12 Aug/12 Oct/12 dec/12 Feb/12

May/12Jul/12 Sep/12 Nov/12 Jan/13 Mar/12

Apr/12

Hypothesis -> experiment -> data -> insight -> outcome

There are reasons why they test on guinea pigs before humans

Leverage others to hack your learning curve

Apply dev resources to sales and marketing

Love problem-solving, not specific solutions

Feel free to get in touch

@[email protected]+45 31142494