#GrowChennai @PayUmoneyIGD

The StartupGrowth Masterclass

#GrowChennai | @PayUmoneyIGD

#GrowChennai @PayUmoneyIGD

PayUmoney India Growth Drivers“PayUmoney is more than an online payments solution. We are partners in your venture growth”

Offline:High impact workshops/ Events

Online:IGD Platform

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Agenda1. How do you grow at an idea stage

1. Content marketing2. Community building

2. How do you grow at the MVP stage1. Its not the BIG that beats the small, it’s

the fast that eat the slow2. Build an MEP instead of an MVP

3. How do you grow at the product LIVE stage?1. Be awesome & trustworthy2. Hack Free PR

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HomeBrewed Growth StoriesHow 3 emerging companies are hacking growth by creating value and spending $0 on marketing.

Key:1. Solve a relevant problem2. Build a powerful value proposition3. Partner a large brand by creating a win-win

value for all stakeholders

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HomeBrewed Growth Stories• LendingkartBuilt Lendingkart GROW with PayUmoney

• TwiksterBuilt Twikster WIN for women entrepreneurs with PayUmoney

• ShoptimizeBuilt Shoptimize Grow with PayUmoney

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#GrowChennai @PayUmoneyIGD

What’s unique about this pricing page?

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#GrowChennai @PayUmoneyIGD

How FoodAbhi scaled to 30+ vendors, 15K delivered orders?FoodAbhi is an online tiffin service provider.

1. Partnered with Ecommerce24 (end to end e-com service provider).

2. The logic was to reduce risk at an early stage – Understand the business & customer better

3. Move fast & fail cheap

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How do you grow at the idea stage?1. Content Marketing (tell powerful, moving stories)

2. Language is everything!

3. Audience segmenting + Community building

4. Imagination and the ‘what if’ landing page

5. Build mindshare, reduce friction

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Remove the imaginary wall that you create when you call a human on the other end ‘your customer’. He’s as much a human as you!

Now build your story & your venture!Download the e-book: Do You Collide With Your Customers from Amazon!

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Ask for help!

The most genuine way to do it is “if you believe someone can actually add value to what you’re building, tell them. Then invite them over and simply talk about your mission”

Leave it right here. Wait for the inspired one’s to revert.

#GrowChennai @PayUmoneyIGD

Content = powerful, moving stories!Remember the good old days, when your grandma used to tell you stories of kings, queens, super heroes may be!

Stories involve. Stories ignite imagination. Stories drive action. Stories make people share!

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A personal Email nails it. This is the beginning of a relationship and not a ‘transactional customer-business engagement’

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Powerful stories work.The proof: FirstRound, a highly admired venture capital firm creates high quality content which shares ‘key learnings’.

PayUmoney, the online payments company from India uses content to help Startups and SMEs get massive visibility and get their growth challenges discovered by the one’s who can solve them!

#GrowChennai @PayUmoneyIGD

#GrowChennai @PayUmoneyIGD

Meet, Neetzan Zimmerman!In November 2013, Zimmerman, was responsible for more traffic to Gawker than all of the rest 20 writers combined.

Source: https://medium.com/@morganb/what-does-this-guy-know-about-virality-that-no-one-else-does-955e1efc17f9

#GrowChennai @PayUmoneyIGD

#GrowChennai @PayUmoneyIGD

Now you know what to do with your Emails + Blogs!

But what’s the real key here?

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Language is the key.Look around, everyone’s looking to create a door for opportunities to knock.

Help them create those doors in your language. Your positive communication will create a VIRAL impact.

The hack: ask this question from everyone you meet:

how can I help you?

#GrowChennai @PayUmoneyIGD

Audience SegmentingBuild a clear ‘archetype’ of your audience.1. Age2. Income group3. Geographical location4. Needs5. Choices6. Is he/ she married?

And every possible piece of information which helps you ‘know the person personally’.

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Build a passion community! Its magical!There’s nothing more powerful than getting like minded people together around a certain context.

Its does NOT have to be about your venture at all!

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$5.5K worth of word spread for $0

#GrowChennai @PayUmoneyIGD

Imagination and the ‘what if’ landing pageImagine if every startup attending this Startup Growth Masterclass today, looking to raise money, gets discovered on “PayUmoney India Growth Drivers” platform?

Imagination is a powerful tool to engage humans. The critical caveat is: be honest. Don’t sell.

Create a world where this “imaginative solution” that you propose, solves the real world problem and see the receivers reaction.

#GrowChennai @PayUmoneyIGD

Build mindshare between the problem and ‘you’You can’t control when people see great opportunities. But you can make sure that they think of you first.

At an idea stage, ensure that you meet people like a problem solver. They must appreciate your value in their life.

#GrowChennai @PayUmoneyIGD

Top Takeaways:1. Start building content even when you are at an

idea stage2. Ask: how can I help you?3. With your language: build a door of opportunity

for everyone around4. Build mindshare between the problem and ‘you’

#GrowChennai @PayUmoneyIGD

How do you grow at the MVP stage?1. Build an MEP instead : the minimum

experiential product!

2. Figure out the top 3 distribution channels – track them as funnels

3. Emails are magical : if done right!!

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When you are invited to be part of something far bigger than your normal life, you buy into the much bigger vision, satiating your-self.

*BTW, your users are like you!

#GrowChennai @PayUmoneyIGD

Build an MEP, not a MVP:

Build a personal entertainment system in under $50.This should make your customers “imagine” and “experience” your solution and believe that they will pay you for the future of personal entertainment.

#GrowChennai @PayUmoneyIGD

A product will not grow by itself. It needs distribution.Figure out the top 3 distribution channels and treat them like funnels.

Across these funnels track the following:1. Customer acquisition cost2. Retention rate & what does it take to increase

it?3. Are users inspired at this stage to spread the

word?

Revenue matters but is NOT the top priority at this stage.

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Here’s what you must track across all channels/ funnels (things to measure and improve upon)

1. Acquisition2. Activation3. Retention4. Referral5. Revenue6. Churn

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Ask users: What are the 2 technologies/ products that you find easiest to use?

This is how PayUmoney SMS invoice, Email Invoice and the Button came into existence!Every SME wants to adopt technology of which they already know: Email and SMS.

All we did, was build over these existing tech layers!

#GrowChennai @PayUmoneyIGD

#GrowChennai @PayUmoneyIGD

1.Email Invoice2.SMS Invoice3.PayUmoney Button

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#GrowChennai @PayUmoneyIGD

How Watsi got people to donate with a wildly successful Email campaign?What we ended up with was an email that reads like a real-life introduction to a person, like, ‘This is Chanda. He’s a 14-year-old student in Cambodia who needs surgery to use his hands again after severe burns, and is really happy to connect with you to get the treatment he needs,’”

Source: http://firstround.com/review/what-startups-can-learn-from-watsis-wildly-successful-email-campaign/

#GrowChennai @PayUmoneyIGD

Top Takeaways:1. Build an MEP and NOT an MVP2. At the MEP stage, be ready with the top 3 most

easy to execute and build distribution channels. Remember what’s critical here is SCALE.

3. Emails are very valuable at this stage. Emotions work magic.

#GrowChennai @PayUmoneyIGD

How do you grow once the product/ service is LIVE?1. Be awesome and Be Trustworthy

Build on human nature!

2. Be Discoverable

3. Hack FREE PR!

4. Don’t be where your customers most expect you to be!

#GrowChennai @PayUmoneyIGD

How @PayUmoney’s Buyer Protection Guarantee increased transaction volumes for SMEs?Its not about a ‘transaction’. Its about ‘how safely can I transact’, ‘what will happen if the transaction gets stuck somewhere’, ‘who will protect my rights as a consumer’?

The BPG is the simplest and the most powerful answer for small businesses and it worked!

#GrowChennai @PayUmoneyIGD

Medium does it beautifully well!

If I liked Oguz’s story that I read it till the end, it pulls me to read more of him. And that’s perfectly how it should be!

#GrowChennai @PayUmoneyIGD

The Karma Hotspot!Every time a new user finds your hotspot and logs onto it, you’re rewarded with 100 megabytes of extra data

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Google: usage of calendar!Logic: expecting a user to add events to a Google calendar was not always the most optimal fashion of making every Gmail user actively use Google Calendar.

Google added ‘add to calendar’ call to action within your Email. So now when you get an Email like “call tomorrow” Google automatically asks if you would like to add it to your Google calendar!

#GrowChennai @PayUmoneyIGD

But how do you build distribution as part of your product?1. Define your product’s core value, the key atomic

unit. Eg:1. Medium: post2. Dropbox: file3. Twitter: tweet4. Instagram: picture

Linkedin uses this beautifully well when it suggests “Who’s viewed your profile”.

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image via source 6

Airbnb photography program was launched in 2010. Hosts could schedule a professional photographer. The service became an instant hit

Source: TC

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How to get great PR, without spending a bomb!!HARO/ HASO: most startups keep looking for PR. The trick to get great PR is to add value to a story which a reporter is doing.

Use HARO/ HASO lists to add value to stories that journalists around the world are doing. You might get published in the Huffington World tomorrow!

#GrowChennai @PayUmoneyIGD

Be where your customer are.

BUT, don’t be where they most expect you to be!

*Tissue papers by hike app!*Flipkart and Citibank ATMs (as seen in June May 2015 at a Citibank ATM)

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Retention is always more importantHashtaag.com : pushing notifications to facebook increased daily active user base by 70% compared to the previous month.*The venture is now closed

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What internal factors affect growth?

1. Team2. Common sense!

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Team!

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Just ensure, no BS!

1. Keep it very very lean

2. Let go of the one’s who don’t match up to the speed of growth that the venture requires.

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Who should look after growth in your team?

Everyone in your team must have understanding of these analytics and every week everyone must know how the market is growing!

Hire the head of growth after the first 1000 users

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The biggest growth hack:Common sense!

You could be data driven and that’s exactly where the fault lines lie. In early days of growth data is always to be inspired by NOT be driven by.

#GrowChennai @PayUmoneyIGD

Paritosh SharmaHead Channel PartnershipsPayUmoney, PayUbiz

Email: paritosh.sharma@payu.in

Thanks!