James Kellett’s Post

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Action Items for the Growth Marketer: Focus on optimizing marketing channels and sales processes to reduce CAC. Use industry benchmarks to set realistic CAC targets and measure performance. Let Joemktg assist you with your PLG initiatives. For work samples, go to Joemktg on Upwork.

Do you know your "why"? Do your prospects know your "why"? If you're honest with yourself... ... probably not. I get it. It's hard in the day-to-day of starting and growing a company but the one's I've worked with and been around that are most successful take the time to both get crystal clear on their "why" and also, make sure the actions they are taking help their customers and prospects know their "why" as well. Here's a contribution I made for MarketScale's Daniel Litwin on the subject: https://lnkd.in/gUFXU77a

Nothing but efficiency should be the focus to grow bootstrapped. Let me explain, If below represents your lead metrics, which of these sources should you focus on scaling? The cheapest one, the easiest one OR the most efficient one? Source 1: 200 leads / month at $150CPL Source 2: 300 leads / month at $100CPL Source 3: 500 leads / month at $75CPL At the first glance, the source 3 seems to be the cheapest one and a no brainer to scale. Well, the above stats are inadequate to conclude on, it is imperative for you to measure the right metrics to take right decisions. You must start measuring Cost Per DEMO and CAC by source and scale the one that is most efficient and not the cheapest one or the easiest one. Although source 1 costs twice per lead in comparison with source 3, the CAC of source 1 is less than half of source 3. Which simply means, Source 1 is helping you acquire 2X customers VS your cheapest lead source for every $$$ spent. The most efficient way to grow is to: 1. Scale your source 1 2. Try to generate leads from a new source that can match the efficiency of source 1 3. Work on understanding why the DEMO to closure rates are below average for source 2 and 3, try to improve if you can or use them to be dealt by your tier 3 sales reps. Look for efficiently scaling your people, processes, and technology – focus on first reaching the optimum and then scaling. Data never lies - as long as you measure relevant data points. The cheapest option you are chasing could be the most expensive one for you. If you aspire to transform your #SaaSstory into a #GrowthStory, Don't go behind the cheapest option, look for the most efficient option.

Thank you to startup Founder, Katie Smith for this question: B2B Scenario: A start-up gets interest in their product from a potential customer, but doesn’t have a fully functioning product yet. The potential customer wants the start-up to send more info i.e., marketing materials. The start-up needs to sell the final product but not what they have today. What is the best way to handle that situation with the goal of turning that potential into a paying customer? You can join the online community to ask your own questions; or check out my recorded response below. Let's make it an extraordinary day! https://lnkd.in/gSHEiv9y

“so many startup folks spend months trying to figure out website copy, sales material, etc ... only to have it invalidated in a few weeks executing in the market is so much higher value AND you don't need really much to generate a conversation; frankly, all you need is some semblance of a specific problem you're trying to solve people love to talk about their problems, esp. if it's with a founder running sales activities/campaigns to build pipeline, learning 1:1 from like-minded customers, holding consistent conversations, and crossing items off lists/double-downing(re: ICP and use case) will deliver so much more insight hint: most messaging/material doesn't mean anything to market anyway -- it's abstract; you don't need it to hold a conversation ;) if you need help on the execution/activities side, DM me.” Via Jen Abel

SaaS Founders: Are you trying to sell me on your Clay alternative? Here's some advice: 1. Understand my investment:I'm deeply entrenched in Clay. A lower price point alone won't make me switch. 2. Offer real value: Want to catch my attention? Provide a fully built-out table tailored to my specific use case. 3. Save me time and money: By offering a ready-to-use solution, you're saving me both credits and setup time. That's a compelling proposition. 4. Recognize the challenge: When your prospect already has a working solution, it's tough to make them switch. You need to offer significant upfront value to make it worthwhile. Pro tip for Clay alternative founders: Search X and LinkedIn daily for "clay + expensive". You'll find a goldmine of hot leads ready for your pitch! Remember, in the world of competing SaaS tools, it's not just about features or price. It's about making the transition irresistibly valuable for your potential clients.

During a business breakfast hosted by the Mission Possible venture building program, Alex Serdiuk shared insights from his experiences, talked about the latest technologies and strategies for building a business, and provided useful tips on sales and marketing. Read more 👉🏻 https://hubs.li/Q02DbGgQ0 #voicecloning #enterpreneurship

It's so easy to give up on the first failed test. A startup is, by definition, one big experiment, where you are trying to find the winning formula before you run out of cash. However, to find the winning formula, you must run 1000s of smaller tests with a range of differing hypotheses. It's so easy to stop testing after just one failed test! It's subjective when to stop testing a hypothesis and move on to the next one. This is especially true when resources are constrained, and you get excited by another opportunity or idea. Here's an example at Stashbee where we almost gave up on a hypothesis, but over time we found the winning formula. The Hypothesis: We believe there are companies with relevant supply that would like to list on Stashbee, and through outreach, we can convert them. Experiment 1: In the early days of Stashbee, I called several companies that may have our kind of supply and sent a few emails. Not much came of this, aside from a couple of meetings. Slightly disheartened, we put this to bed for a number of months. Experiment 2: We employ someone with sales skills, and they are keen to try. We are more focused this time around, developing a target list and an agreed-upon approach. It starts to work, but it's slow, and we are not winning over the big fish. COVID hits, and this whole experiment is shelved for 2 years Experiment 3: We try something different and decide to go after partnerships with a similar audience to ourselves to drive relevant traffic and backlinks. We are much more structured and develop a no brainer pitch. It works amazingly and we covert 35% of all companies we contacted e.g. Goboony ClickMechanic, Halfords, Getaround, Hiyacar and more! These are great partnerships and this experiment is a success. The only problem, is that effort to reward may not be the best use of our resources at our current stage. Experiment 4. We take the same winning formula from experiment 3 and instead apply it to companies that have huge quantities of similar supply to Stashbee. It works, and quickly we build a big backlog of companies agreeing to supply-side partnerships. The key lesson I took away from this is - don't give up on your first failed test. Don’t assume that because something didn't work yesterday that it won't work today in a different format. Test, test, and test again! Success will follow. #Startups #Testing #Failure #Sucess

🚗💨 Hey there, speed racer! Lean Startup principles say there are three engines of growth for businesses: paid, sticky, and viral. Bump up your business growth with a concoction of brand energy and savvy marketing strategies that won't break the bank. Let's rev up those engines! 🏎️ https://bit.ly/3vYCCvA #mrx #Scalehouse #Scaled #GameChanger #BusinessGrowth #UnifiedApproach #SalesAndMarketing #MarketingStrategies