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How to build a cost-effective growth marketing strategy with Daniel Lohrmann from ikaros
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After starting out as an investment banker in London, Daniel quickly figured that he didn’t want to be just another cog in the machine. Always having had an analytical streak, the convergence of marketing, analytics, product and many more disciplines into “growth” turned out to make growth marketing the perfect fit for him.
Having worked as Head of Growth and Data Insights at Sellable, a Sydney prop-tech start-up, Daniel decided it was time to start out himself and build ikaros, a now-established boutique growth marketing and analytics consultancy leveraging data to deliver high-performance growth strategies for scale-ups and SMEs.
What you will learn in this episode:
- Two factors analytics helps with for any early stage business
- Going beyond knowing the customer’s first name for marketing personalisation
- How to use pirate metrics and acquisition elements to map out your customer journey
- How to apply cohort analysis
- How to start collecting data in a realm of “data-geddon”
- How to monitor the right KPIs
- Daniel’s documenting and process behind growth experiments
- Why doing things that don’t scale is important
- How Daniel drastically improved a direct marketing campaign
- How to monitor the effectiveness of offline marketing strategies
- Picking the right marketing channel
- Prioritising your ideas
- The “7 friends in ten days” framework
- At the end of the episode, Daniel’s weekly challenge for your growth team.
Resources mentioned:
- ikaros
- Rocket Internet
- Deutsche Bahn “No need to fly” campaign
- Pirate metrics
- Segment
- Heap
- Sellable
- Twilio
- Autopilot
- Vero
- Stripe founder Patrick Collison
- Etsy
- The 80/20 rule
- Lean startup principle
- ICE framework
- 7 friends in ten days
Reading recommendations:
- Andrew Chen’s blogs
What business would you build on Mars?
I’m thinking about luxury items. Think about plant-based items...If you're taking seeds for example, it's like very little mass that you need to take to Mars, which obviously, mass is really valuable for you. If you can, successfully grow something even if it's just in your bank or so on Mars and sell that maybe back on earth, that's going to be like a novelty, really unique, luxury item. So it's obviously going to command a massive markup.
Reach Daniel here:
- on Linkedin
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