![]() ![]() Whatever your north star metric is, you should always be looking far into the future to understand the value of your acquisition so that you can double down on those channels that bring the highest-value consumers.Īcquisition is ever-changing and the best-in-class marketers work hard to stay in touch with the latest creative trends, new ad formats to test, and those next golden pockets to sell to. ![]() Using methodologies we developed in-house that analyzed various data points, including acquisition channel and geography, we were able to accurately predict the number of trips a new user would make 90 days out. At Uber, we focused on advanced metrics such as predicted LTV (pLTV) and predicted first trips (pFT) of new riders that we were acquiring in real time. Mindset on acquisition is what separates marketers flashing vanity metrics such as CTR and CVR, while simultaneously losing sight on down-funnel conversion metrics. I’ve written an entire column on how to set up a proper tech stack that I implore readers to visit if they are starting their own attribution efforts from scratch. While referral and monetization are also quite important, they won’t make or break a startup.Ĭonversely, if you’re acquiring on a mobile app, this means having a mobile measurement partner fully integrated into your app. If you’re acquiring on the web, this means adding UTM parameters to all campaigns.Īcquisition, activation and retention are critical. Before unloading on your acquisition budget, you should first ensure you are capturing all possible data from your paid channels. In terms of our attribution, I must begin by qualifying that I have never seen an attribution framework that was 100% accurate, as it is essentially impossible to capture all acquisition data without leakage.Īt Uber we did still spend a great deal of time working with our attribution partners, such as our mobile measurement partner, and were constantly locating areas of improvement. When building the correct approach for acquisition, these are the aspects that will elevate a world-class program above an average one: As you can imagine, at that time we had swarms of product managers, data scientists and all the complementary growth roles you can think of helping us push our growth marketing team forward. Without question, the most advanced acquisition I personally encountered occurred while I was a leader of rider growth at Uber. This isn’t meant to be a teardown of each specific startup, but rather a holistic look into what leading companies are doing, their mindsets when it comes to growth and how to replicate these actions in your own startup. In this article I will walk you through world-class setups from several leading companies, broken down by each stage of the funnel, so that you can draw inspiration from what has already been proven over the last decade. If you can’t acquire, activate or retain consumers to your startup, your probability of success is practically nil. While referral and monetization are also quite important, they won’t make or break a startup like those first three. The most important aspects are acquisition, activation and retention. Thousands of startups have experimented with infinite variations and tweaks to their growth funnel, so why should you try to reinvent the same foundation? There’s more than a decade of growth marketing now behind us. Don’t wait to identify your startup’s ideal customer personas.How to identify, interview and hire a head of growth for an early-stage startup. ![]()
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