Startupfest 2015: JUSTIN MARES (Distribution Team, 500 Startups) - "How To"

F I N D I N G Y O U R T R A C T I O N C H A N N E L

B Y J U S T I N M A R E S

@jwmares

W H O A M I ?

1. Former Director of Revenue for Exceptional (acq’d by Rackspace for $10m+ in 2013)

@jwmares

W H O A M I ?

1. Former Director of Revenue for Exceptional (acq’d by Rackspace for $10m+ in 2013)

2. Co-author of Traction

@jwmares

W H O A M I ?

1. Former Director of Revenue for Exceptional (acq’d by Rackspace for $10m+ in 2013)

1. Former Director of Revenue for Exceptional (acq’d by Rackspace for $10m+ in 2013)

2. Co-author of Traction

3. A MISERABLE FAILURE

F I N D I N G Y O U R C H A N N E L

T O D A Y W E ’ R E G O I N G T O TA L K A B O U T …

“Most startups don’t fail because they can’t build a product.

Most startups fail because they can’t get traction.”

- T R A C T I O N B O O K

“Most startups don’t fail because they can’t build a product.

Most startups fail because they can’t get traction.”

(yes I’m quoting my own book. Sorry)

- T R A C T I O N B O O K

M Y F I R S T O N E D I D :

“The #1 reason we pass on entrepreneurs we’d otherwise like to back is their focus on product to the exclusion of everything else.”

- M A R C A N D R E E S E N

Why?

Product is fun.

Product is fun.

Traction is hard

“If you can get even a single distribution to work, you have a great business.

If you don’t nail one, you’re finished.”

- P E T E R T H I E L

H O W D O I F I N D M Y C H A N N E L ?

Framework

TheBullseye

A 4-step process to finding your traction channel

S T E P 1 … B R A I N S T O R M

“If you can acquire customers in a channel your competitors are ignoring, that’s a

huge competitive advantage.”

- J A S O N C O H E N , W P E N G I N E

Framework

TheBullseye

1. Brainstorm

2. Prioritize

Easy to test?

Potential impact?

Compound affects?

Also think about…

Funding?

Also think about…

Funding?

B2B?

Also think about…

Funding?

B2B?

Consumer?

Also think about…

Funding?

B2B?

Consumer?

Traction goal?

Also think about…

Funding?

B2B?

Consumer?

Traction goal?

Customer LTV?

Also think about…

Funding?

B2B?

Consumer?

Traction goal?

Customer LTV?

Crowded channel?

Also think about…

Funding?

B2B?

Consumer?

Traction goal?

Customer LTV?

Crowded channel?

Unit economics?

Also think about…

Funding?

B2B?

Consumer?

Traction goal?

Customer LTV?

Crowded channel?

Unit economics?

Competitors?

Also think about…

Funding?

B2B?

Consumer?

Traction goal?

Customer LTV?

Crowded channel?

Unit economics?

Competitors? How long?

Framework

TheBullseye

1. Brainstorm

2. Prioritize

3. Test

Search for..

Search for..

signs

Search for..

signs

that

Search for..

signs

that

a channel is working

Some ideas of tests to run

SEO

Sponsor top pages that already have the rankings you want.

Buy AdWords for top keywords, see how they convert.

Some ideas of tests to run

Offline Events

Attend 5 Meetup groups in a week.

Create an event using Eventbrite. Try selling 25 tickets

to prospective customers.

Some ideas of tests to run

Social Ads

Buy $500 worth of ads on Facebook, targeting different

groups.

Pay 5 smaller Instagram feeds to post your content 1-3x.

Some ideas of tests to run

Content Marketing

Hire a writer to create 3 killer posts and 1 infographic.

Put 100% effort into promoting the 3 posts & infographic. Then

evaluate.

Framework

TheBullseye

1. Brainstorm

2. Prioritize

3. Test

4. Double Down

FIND

FINDwhat works

FINDwhat works

AND

FINDwhat works

ANDdo more of it

FINDwhat works

ANDdo more of it

Double. Down.

I N C O N C L U S I O N …

Find

I N C O N C L U S I O N …

your channelFind

I N C O N C L U S I O N …

Use Bullseye

I N C O N C L U S I O N …

Use Bullseye1.

Brainstorm

I N C O N C L U S I O N …

Use Bullseye1.

Brainstorm2.

Prioritize

I N C O N C L U S I O N …

Use Bullseye1.

Brainstorm2.

Prioritize3.

Test

I N C O N C L U S I O N …

Use Bullseye1.

Brainstorm2.

Prioritize3.

Test4.

Double Down

I N C O N C L U S I O N …

AND

I N C O N C L U S I O N …

AND((most importantly)

I N C O N C L U S I O N …

AND((most importantly)

Crush It.

F I R S T 3 C H A P T E R S O F T R A C T I O N - T R A C T I O N B O O K . C O M

K E E P U P W I T H M E - J U S T I N M A R E S . C O M

@jwmares

T H A N K Y O U !