How to Grow without spending a ton on marketing. Product Driven Growth. Updated for Refresh Rocks
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@nilanp NPS driven growth OR How to grow without spending a TON on marketing Nilan Peiris VP Growth TransferWise
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Transcript of How to Grow without spending a ton on marketing. Product Driven Growth. Updated for Refresh Rocks
@nilanp
NPS driven growthOR
How to grow without spending a TON on marketing
Nilan PeirisVP Growth TransferWise
@nilanp
Startups
@nilanp
Startups Tequila
@nilanp
Back to traction
@nilanp
Revenue
Revenue
Revenue
Death Zone
Revenue
How do I get out of the death zone ?
A typical founder conversation
Anonymised using characters from the
Wire
x
GROWTHDude - we’re running outta cash in 6 months
GROWTH
Lets go see the Man - he can give us funding
Introducing the Man
@nilanp
GROWTH
GROWTH
Come back when you have traction…
GROWTHWe need to get traction, we need to find customers, you know what we need ?
GROWTHMarketing
GROWTHWord. Marketing is what we need… but marketings expensive. You know what we need ?
GROWTHMoney… lets go see the Man.
GROWTH
Is there another way ?
NPS driven growth
@nilanp
Would you recommend us to your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Would you recommend us to your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
TotalPromoters - Detractors
= NPS
If promoters > detractors you WILL
grow
N.B. This is fucking hard.
It works ! (But barely)
It works ! (But barely)
It works withno significant issues !
It works ! (But barely)
It works withno significant issues !
It works. Wow that was slick
It works ! (But barely)
It works withno significant issues !
It works. Wow that was slick
You’ve just blown my socks off that was fucking incredible
Every app on your phone has an insanely high NPS
What drives recommendation ?
Nobody yet has systemised - how to
scale a business through focussing on
product
Rational Emotional
Rational Emotional
• Product • Brand
Rational Emotional• Product• Speed• Price• Convenience
• Brand
Rational Emotional• Product• Speed• Price• Convenience
• Brand• Being part of
a movement
So how does that help me get out of the death zone ?
Focussing on product, and
delighting your customers will enable
you to grow
3 Practical tips for early stage startups
1 Get your product to work
Practical adviceFocus on single
userscredit: Klinger.io
2 Find your scaling metric
Startups are prioritisation problems…
People can only do one thing at a time
Supply was the biggest growth lever at HouseTrip
Facebook’s news feed optimises for engagement
3 Add marketing
Focus
=
How does this scale ?
We work in autonomous independent teams focused on KPIs that make our customers happy and drive our growth
At TransferWise we have teams behind every KPI growth
lever
Currencies Operations Verification
Conversion Experience Virality
Marketing
At TransferWise every team works on
Product
At TransferWise every Wiser knows
how they can impact growth
Each team is a learning organisation, trying to
understand what matters to a customer, how to change behaviour and drive growth
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Summary1. Focus on NPS and you will grow2. Find your single metric, talk to
customers and focus3. Add marketing when ready
@nilanp
