FIGURING YOUR PLACE IN THE FUNNEL

For eCommerce

A little about me

LIFE:33 34 years young1 wife1 small daughter 1 small dog

Official Star Wars model builder

Past Skater

STARTUPS:6 founded2 failed1 acquired1 still rocking1 Fitfully4 months on the VC side10 programs’ mentor4 advisor

1

What I’ve Learned • Behavioral economics• Lowest common denominator• ’Super’ is super important

This is a discussion• Ask• Ask• Ask

KPIwhat’s the most important

In eCommerce?

“ if you’re in the streets naked dancing, and that brings me more conversions – I’ll pay “

-- Investment director, ASOS

PRODUCTPROBLEM SOLUTIO

N MARKET

They build a product no one ends up using

At times, startups find themselves facing this cold and harsh (yet prevalent) reality…

It goes back to the early beginning of the startup

and again, we must ask ourselves what's wrong?!?

What's thee problem?

Most companies figure out 3 things

Traffic

Users

Revenue

Step 1 Step 2 Step 3People come

in? People

pay

Those metrics are were enough

Step 1 Step 2 Step 3

Gettraffic ?

Step 4 Step 5

Getusers ? Profit

The concept (key) is to fully map the user lifecycle of

your product

FUNNELING!

Basic funneling(based on Growth Hacking)

The lean marketing framework: AARRR(ggg)

ACQUISITION

ACTIVATION

RETENTION

REVENUE

REFERRAL

PR

A/B testingSEO

Partnerships

EmailEvents

Blogs

Analytics

Viral

ACQUISITION = getting people to come to your site

ACQUISITION

ACTIVATION = getting people to sign up. Anything

for a repeat visit

ACQUISITION

ACTIVATION

PR

A/B testingSEO

Partnerships

EmailEvents

Blogs

Analytics

Viral

RETENTION = getting users to become active

ACQUISITION

ACTIVATION

RETENTION

PR

A/B testingSEO

Partnerships

EmailEvents

Blogs

Analytics

Viral

REVENUE = monetizing active users

ACQUISITION

ACTIVATION

RETENTION

REVENUE

PR

A/B testingSEO

Partnerships

EmailEvents

Blogs

Analytics

Viral

ACQUISITION

REFERRAL =getting active users to get their friends to

sign up

ACTIVATION

RETENTION

REVENUE

REFERRAL

PR

A/B testingSEO

Partnerships

EmailEvents

Blogs

Analytics

Viral

Each step of the framework/funnel is assigned a user state

We need to figure out how to change or progress user state

(in the funnel)

Creates account

Visits again later

???

FF real examples

Search

Visits store

Browse

Selects Inform Price Terms Size $Buy

$

FF funnel #1 [the long & natural]

Search

Inform Price Term

s Size $Buy$

FF funnel #2 [the promotion]

FF funnel #3 [the price aware]

Price Visits store

Inform

Terms Size $Buy

$

FF funnel #4 [the stock aware]

Search

In-Stock

?Visits store

Inform Size Term

s$Buy

$

MEASURING(leave it to the numbers)

1800

Activation Retention Revenues

1% 18% 0%

Acquisition

183 0

When you start, your numbers are gonna be shitty

Focus here

1800

Activation Retention Revenues

10%

30%

20%

Acquisition

18054 10.4

Conversions. Measure them in each step

Some ideas

REFERAL/INCENTIVE:

Share now (right before you buy)

and get X$ discount

RETENTION:almost all stores

send you reminders for items left in shopping cart

unfulfilled(of course with a ‘Buy it Now’ button)

SUPER USERS (RETENTION):

Computers do replace humans.

setup up smart alerts for your shopping

indulgences

REFERAL:Quora forces

you to sign up before you can read answers (and share)

START X Y Z $Buy

$

Before and after your product

FUNNELING! FIGURED OUT

FIGURED OUT

(Hopefully)

Thanks for sticking out