S2. Ep12. Andy Lambert. Founder and Social Media Expert.

Key points:
When does a Startup moving to a Scaleup
- Can be defined by funding rounds
- Late stage series A - into Series B
- Not a project anymore - has proper unit economics and is ready to grow
KPIs
- Early stage - sales and revenue
- By hook and by crook - keeping the lights on
- Later stages
- Performance by channel
- Cost of sale
- Average sales price
- Deal velocity - Pipeline velocity by channel
- Net revenue retention - How customers are expanding
- Land and expand accounts - When churn
- Product activation - how are customers engaging at an early stage
- CAC to LTV ratios and unit economics
- When you're too close to the metrics - you miss the bigger picture
Activation
- The cold start problem
- Helping people get to the value of the product quicker
- How to get to the Aha moment
- Aspirationally getting people to know what they want to get to where they are earlier
Team
- Early position
- 1. CEO - Soul job was investor relations and vision
- Making sure we've got enough capital to fulfil our ambitions
- 2. Product person
- Where are we going?
- 3. Commercial person
- Driving through the sales and testing many different angles
- Biggest mistake - Hiring problems - bringing
- Scaling up
- Formalised the business through an MD or COO - this is an important hire
- Better structure
- Main focus is on hiring
Agencies vs. inhouse people
- Agencies work better when you give them a defined brief and defined scope - Easier to prove
- Certain channels need to be owned as they have a far better understanding of the customers and the product e.g. Content creation for example
Channels
- Hacking channels at the beginning
- Cold email outreach
- Selling - Direct response vs. the benefits of brands
- Pick up the phone and make things happen
- Content - More likely to be engaged - more likely to close faster
- An element of trust which is included
Content
- Tutorials
- Webinar series e.g. Steven Bartlett
- Recognition
- The power of "We feel like we trust and know you" - Eyes and trust are the largest components of the buying decision
- Build a community around what you do - using other people to share the goodness and get your message out there - Few businesses do this well, as few businesses know how to measure it properly.
- Ambassadors
- Affiliates
- Influencers
- Champions out of your customers
The importance of a personal brand - the best thing you can do for your career
- Being authentically true
- Employee branding for the whole team
- How do you know that it's working - you can feel it through all responses
- You ask the sales team to track the engagements
- Genuinely care about the benefits you provide to people
Qual Analysis and Attribution
- How did you hear about us "From Google" isn't good enough - Why did you Google us?
- Every bit added to Hubspot
- Hold Sales's teams commission back otherwise