how to grow without spending a ton on marketing. product driven growth. updated for refresh rocks

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NPS driven growthOR

How to grow without spending a TON on marketing

Nilan PeirisVP Growth TransferWise

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Startups

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Startups Tequila

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Back to traction

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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

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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

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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

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