Marelle Ellen keynote at sTARTUp Day 2024: Growth Strategies I've Learned from Top Estonian Startups
Marelle Ellen, the co-host of the grit. podcast is a seasoned CMO, marketing mentor, and podcast host. With a diverse background, including her role as the Head of Marketing at sTARTUp Day or as CMO of Promoty, Marelle brings a lot of knowledge and experience to the table. Her keynote at sTARTUp Day shared insights from her interviews with over 30 marketing managers from top Estonian startups.
1. Demand capture vs. demand generation
Marelle emphasized the importance of understanding the difference between demand capture and demand generation. Startups often focus on capturing existing demand through SEO and paid ads, ensuring visibility for those actively searching for their products. "If your customers are actively looking for a product like yours, focus on demand capture," she advised. However, she warned that this approach has limited volume and high competition, recommending brand building as a long-term strategy. "Build trust and awareness so customers choose you when they are ready," she said highlighting the need for demand generation.2. Leveraging growth engines
When talking about the power of growth engines within products, Marelle explained three types of virality: inherent, word-of-mouth, and artificial. She illustrated this with examples like Bolt's referral programs and Lightyear's influencer collaborations, showing how existing users can drive sustainable growth.
3. Channel focus
Instead of spreading efforts thin across multiple channels, Marelle advised focusing on a few that yield the best results. "Choose a few channels and excel at them. Test new ones one at a time and integrate successful ones into your main strategy," she suggested.4. Consistent testing and optimization
Continuous testing and optimization are key to marketing success. "Measure every step of the funnel and constantly improve conversion rates," she stressed. This approach, influenced by IT practices like Scrum and lean marketing, ensures efficient use of resources and agile adaptation to market changes.5. Balancing automation with humanness
While automation is essential for scaling, maintaining a human touch is equally important. Marelle emphasized personalized communication and storytelling. "People trust and relate to other people more than brands and logos. Build personal brands for founders and tell compelling stories," she recommended.6. The importance of branding
Branding is a crucial long-term investment that facilitates future marketing efforts. Marelle noted, "Most companies hit a limit if they don't do branding. It makes future marketing and sales easier." Although challenging to measure directly, branding's impact is evident in customer loyalty and sustained growth.7. Effective goal setting and prioritization
Marelle suggested using goal-setting systems like OKRs to align marketing goals with business objectives. "Set ambitious but achievable goals. Prioritize actions that have the biggest impact on your goals," she advised. This ensures that marketing efforts are focused and aligned with the overall vision of the company.Marelle Ellen's keynote created a guide to mastering marketing in startups. As Marelle concluded, "Growing a startup means a lot of measuring, testing, failing, trying again, and optimizing. Most importantly, doing it all consistently. That's why it's called grit."
Feel free to reach out to Marelle on LinkedIn for more insights and discussions on marketing strategies and startup growth.
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