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+ Sales Funnel Design
Essential question: What is the best way to reduce the number of steps your customer must take to purchase your product?
Objectives: Learn how to design an efficient sales funnel and remove barriers that prevent your customer from taking action.
Learn why it’s important to know how you’ll generate sales before knowing what product you’ll actually make
Explore the 3 different ways that your startup can get paid
Identify the 3 characteristics of customer sales activity
Discuss how to streamline your sales process by more than 45%
By developing a thoughtful sales funnel built around generating customer demand, you’ll able to reduce your cost of sales, eliminate unnecessary friction in your customer’s buying decisions, and clarify how you’ll get paid by your customers.
If you spent 3 months or more attempting to establish an effective sales funnel, this meetup will teach you how to focus your priorities on tasks that will get you paid before you build your product and save you from wasting money on sales steps that don’t directly improve your customer conversion rates.
+ Sales KPIs
Essential question: How do entrepreneurs measure the success of their sales engine?
Objectives: Learn how to estimate the market opportunity and determine baseline product pricing.
Explore the 13 key sales metrics that 90% of startups use
Discuss the effects of compounding conversion rates
Understand the elements of a “word of mouth” growth strategy
Learn how to estimate a product’s viral coefficient
By identifying the KPIs for your sales engine, you’ll know what assumptions to validate and the key steps in your sales process to optimize.
If your sales metrics aren’t providing you the insights necessary to reduce your cost of sales, this meetup will teach you how to identify your key conversion activities to streamline your sales process within weeks and shorten the time from qualified lead to collecting cash.
+ Sales Validation
Essential question: What is the best way to validate sales funnel design?
Objectives: Explore techniques founders use to test product revenue potential and create pricing alternatives.
Explore how to validate your sales conversion metrics by testing for customer curiosity
Discuss the 2 phases of price validation
Learn the key experiments elements for both B2C & B2B startups
Understand the components of A/B testing
Examine the use of solution interviews
By validating your sales conversion rates with Early Adopters, you’ll know the effectiveness of sales engine design, which success variables that you need to refine, and the next steps necessary to optimize pricing.
If you’ve struggled to validate your product’s pricing and key customer sales metrics, this meetup will teach you an easy-to-repeat process that’ll help you clearly decide whether to proceed, optimize or pivot for each step in your sales funnel corresponding to the Buyer’s Journey.
+ Pre-sell Anything
Essential question: How do entrepreneurs successfully pre-sell products before they exist?
Objectives: Assess viability of product presales and develop a failsafe pre-selling plan.
Discuss why you should consider generating sales before you have a product
Learn the 5-step process to pre-sell anything
Explore 3 methods to validate pre-sale demand
Identify simple actions your can take to recover Early Adopters if your pre-selling experiment fails
By pre-selling your product before you build it, you’ll be validate actual demand for your startup’s innovation while minimizing the risk that Early Adopter will reject the pricing that you need to profitably grow your startup.
If you’re ever been curious how your startup can leverage pre-sales like those on Kickstarter & Indiegogo, this meetup will teach you how to develop a pre-sales plan that you can begin executing in 2 weeks or less as well as the tools that you’ll want to use to improve your success potential.
+ Pricing Optimization
Essential question: Why is pricing optimization essential to profitably scaling without losing customers?
Objectives: Learn pricing design techniques and how to find the best price to attract the most profitable customers.
Identify the 4 cardinal rules of pricing
Discuss how key elements of your price optimization experiments
Explore how reference pricing from competitors affect customer perceptions
Analyze startup pricing paths
Assess 3 types of pricing experiments (A/B price testing, T-shirt price testing, Limit price testing)
By testing your startup pricing plan prior to scaling, you’ll have confidence in your product’s optimal price point and know how to run price experiments without offending your customers.
If you’re uncertain whether your pricing strategy is maximizing your revenues, this meetup will teach you how to avoid common pricing mistakes and optimize your product pricing to profitably scale your startup.
Mastery Skills Gained
Sales optimization, product pre-selling, pricing validation
Early stage startup team members (pre-funding through seed stage), inexperienced entrepreneurs, curious enterprise executives and employees, university students interested in learning lean methods
Web-based instruction with interactive exercises
On-demand with live feedback
6 hours to complete