Podcast Summary
Starting with the basics for sustainable growth.: Prioritize building a strong foundation in business, starting with a good user experience, before pursuing rapid expansion.
Building a strong foundation is crucial for success in growth and development. Meltem emphasizes the importance of going back to the basics and ensuring that the core aspects of a business, such as having a fast and discoverable website, are in place before investing in paid ads or other marketing strategies. Starting with a good user experience and gradually expanding from there is the key to sustainable growth. This approach has proven successful for companies like Deel, which experienced exponential revenue growth while remaining EBITDA positive. It's vital for businesses to prioritize the fundamentals and lay a strong foundation before pursuing rapid expansion.
Cost-effective growth channels for B2B businesses: By focusing on alternative growth channels like SEO, community engagement, and partnerships, businesses can attract customers and build trust without spending a lot on traditional advertising. However, it's crucial to assess the audience size and demand for the solution being offered.
Focusing on cheaper growth channels can be highly effective in B2B businesses. Instead of relying solely on traditional advertising and paid marketing, businesses should invest in providing valuable solutions and answers to customers' problems. This can be done through avenues like search engine optimization, engaging with communities on platforms like Reddit, forming partnerships with other groups, and utilizing existing communities and forums. By genuinely helping people and adding value to the community, businesses can organically build trust and attract customers without spending a fortune on advertising. However, it's important to recognize the upper limit of the audience size in these channels and ensure that there is a sufficient demand for the solution being offered.
Building Connections and Credibility through Meaningful Engagement: Engaging in conversations, providing valuable answers, and treating others as friends rather than sales prospects can help in establishing credibility and building a loyal user base.
Adding value to a community is crucial when trying to benefit from it. Being someone that people actually want to talk to is essential in building connections and gaining support. In the discussed case, Meltem used Reddit as a platform to understand the top concerns and questions of her audience. By actively engaging in conversations and providing meaningful answers, her team was able to establish credibility and attract potential users. However, it is important to note that simply promoting a solution without addressing the specific question is ineffective. Instead, focusing on genuinely answering the question and offering valuable insights allows individuals to make informed decisions. This approach of adding value and treating others as friends rather than sales prospects can greatly contribute to building a loyal user base.
Leveraging platforms and communities for growth and value creation: Engage actively, provide insights, and focus on user needs to drive growth and success.
Founders can leverage various platforms and communities to add value and drive growth for their companies. It is essential to actively engage and provide meaningful insights and solutions rather than just promoting one's business. Closed communities such as Slack or Discord can be great places to connect with other founders and gain valuable insights. In terms of growth, initially, a significant portion (around 80-90%) of Deel's growth came from non-paid channels, including partnerships, SEO, and moderation. While the net growth has increased over time, the percentage of growth from these channels has shrunk as other channels have grown. Regarding SEO, the key is to focus on answering users' queries effectively, rather than stuffing content with keywords. Writing content that keeps users engaged and addresses their needs is crucial for successful SEO.
Streamlining Article Publication with a Traffic Light System: Deel's content team efficiently creates articles by prioritizing keywords based on intent and volume, ensuring their content addresses the needs of their target audience and improves search engine rankings.
The content team at Deel has implemented a traffic light system to determine the readiness of their articles for publication. By identifying relevant keywords and ranking them based on intent and volume, they are able to prioritize content creation. Green keywords indicate high intent and high volume, while yellow keywords represent potential customers with lesser intent. Through this process, they can ensure that their articles address the needs and questions of their target audience. The team also uses SEO solutions tools like Clearscope to optimize the content with the right keywords and readability level. By following this structured approach, Deel's content team can create articles that effectively align with search intent and improve their chances of ranking well on search engines.
Building an Effective Content Team for SEO Success: Dedicating time and effort to SEO, including thorough keyword research and creating diverse content teams, is crucial for attracting readers and ensuring program growth. SEO can benefit any business, regardless of its growth strategy.
Building a strong and effective content team is crucial for successful SEO. The content team should be led by a director of content and have a person dedicated to managing operations such as working with freelancers, ensuring timely publication of articles, and handling fact-checking. It is also important to have individuals with expertise in different areas of content to write properly. Additionally, creating different teams to focus on various types of content, such as video and education, can help tap into new mediums. This conversation emphasizes the importance of dedicating time and effort to SEO, as cutting corners and neglecting thorough keyword research can lead to low-quality content that fails to attract readers and hinder program growth. Moreover, SEO may not be suitable for every business, but it can still provide benefits even if it's not a major growth strategy.
Prioritizing the Basics: Building a Strong Foundation for Your Business Growth: Focus on creating a well-functioning website with relevant content and clear messaging before investing in SEO or paid ads. Once the basics are covered, explore long-tail platforms for lead diversification.
Prioritizing the basics is crucial in the early days of a business. Before investing in SEO or paid ads, it is important to first have a well-functioning website that is fast and easily discoverable by search engines. Building a solid foundation includes making sure that people can find the website through relevant content. Only after these steps are completed should a business consider investing in paid ads. Additionally, having clear and concise messaging that explains the unique value proposition of the business is essential. Avoid using generic statements that could apply to any business in the B2B world. Finally, once the basics are covered, exploring long-tail platforms that contribute to diversifying lead flow can be considered.
The effectiveness of smaller outlets and niche platforms in advertising.: Diversify lead sources and focus on bottom-of-the-funnel targeting for B2B businesses. Establish a customer base before executing awareness campaigns to reinforce messaging and maintain brand recognition.
When it comes to advertising, focusing on smaller outlets and niche platforms can be just as effective as running ads on larger platforms. While individual podcast ads may not bring in a large number of customers, running multiple ads across different platforms can add up and generate leads. It's important to diversify your lead sources to reach a wider audience. Additionally, when it comes to awareness campaigns for B2B businesses, it's best to focus on tapping into the bottom of the funnel first and targeting those who are ready to convert. Early awareness campaigns can be time-consuming and may not resonate with the audience yet. However, once a business has established a solid customer base, well-executed awareness campaigns can be effective in reinforcing messaging and maintaining brand recognition.
Timing and Clarity: The Key to Effective Advertising: Timing and a clear message are essential for successful advertising. Notion's ad campaign succeeded because they waited until people were familiar with their product interface before showcasing it.
Effective advertising requires both timing and a clear message. The success of Notion's ad campaign was attributed to the fact that they waited until people were familiar with their unique product interface before showcasing it on billboards. This allowed viewers to immediately recognize and understand what product was being advertised. When considering partnerships, it is important to not only focus on audience overlap but also on whether the partner is seen as a trusted resource for the specific problem you are addressing. For example, Deel's partnership with venture capital firms was successful because founders trust their VCs for recommendations on trusted platforms. Additionally, businesses should identify the questions their target audience is asking and provide solutions to address those specific needs, such as compliance and tax-related concerns.
The Power of Providing Valuable Resources: A Story of Growth and Recognition: By going the extra mile to provide valuable resources and guidance to customers, businesses can attract attention, establish credibility, and drive growth and success. It is also important to stay ahead of creative fatigue and track lead conversion rates for informed marketing decisions.
Providing valuable and helpful resources can lead to significant growth and recognition. In the story, an article written by Meltem's team became a trusted resource for customers during the roll-out of the PPP program. This article was so informative that it was linked by the IRS, which brought in a lot of traffic and resulted in a moment of pride for the company. It highlights the importance of going the extra mile to answer questions and provide guidance to customers when others may not have the time or resources to do so. Sharing helpful content can attract attention and establish credibility, ultimately driving growth and success. Additionally, the conversation emphasizes the importance of staying ahead of creative fatigue in paid advertising and monitoring the journey and conversion rates of leads to make informed decisions about marketing spend.
The Importance of Investing in a Strong Product for Business Growth: A successful growth strategy relies on developing a top-notch product that meets customer needs and delivers value. Building a strong product team and prioritizing product quality is crucial, especially in the B2B world.
Having a great product is at the core of a successful growth strategy. Acquisition channels and marketing efforts won't be effective if the product doesn't live up to customer expectations. It is crucial for a company to invest in developing a top-notch product that delivers value and meets customer needs. In the B2B world, where customers are less likely to tolerate subpar products, having a solid product is even more important. It is essential for early-stage companies to prioritize building a strong product team and engineering resources to ensure the product's quality and reliability. Additionally, the COVID-19 pandemic played a role in accelerating the adoption of remote work, benefiting companies like Deel that provide global work solutions rather than just remote work platforms.
Embracing remote work and hiring talent worldwide: Deel's key to success: Deel's growth is attributed to consistently reaching out to companies needing payroll solutions and hiring contractors overseas, along with finding individuals committed to KPIs and willing to handle all tasks.
Remote work has become a global trend, allowing companies to hire talent regardless of their location. Meltem states that her company, Deel, benefited from being able to provide solutions for remote work and gained popularity due to this association. The key lesson for Deel's growth was consistently putting their services in front of companies that needed payroll solutions and hiring independent contractors overseas. When it comes to team building, Meltem emphasized the importance of finding individuals who are willing to commit to the full funnel of KPIs and revenue goals. Additionally, she highlighted the significance of hiring individuals who have experience operating with limited resources and are willing to do the nitty-gritty work. This approach aligns with Deel's concept of "little hands," where everyone in the organization is expected to contribute and not shy away from any task. Ultimately, finding candidates who are enthusiastic about tackling even the smallest jobs is crucial for the company's current stage of growth.
Assessing Candidates for a Growth Team: When evaluating candidates for a growth team, consider their past commitment to KPIs, inquire about their current KPIs and perceptions, evaluate their ability to scale with different budgets, and build a team structure focused on revenue goals and expertise in different regions.
When assessing potential candidates for a growth team, it is important to consider their past commitment to key performance indicators (KPIs). If they have not previously shown a commitment to revenue or bottom-funnel goals, it may not be accurate if they claim they are now willing to commit to them. It is also valuable to inquire about the candidate's current KPIs and their perception of what KPIs they should have. Additionally, a practical way to evaluate a candidate's ability to scale is by giving them scenarios with different budgets and assessing their strategies. Furthermore, the growth team at Deel focuses on revenue goals rather than just leads or traffic. The structure of the team is determined by bringing in leaders who can prove their theories and then allowing them to build their teams from there. The initial hires at Deel included a product marketing person, a copywriter, and a data analyst, focusing on messaging, creative content, and data analysis, respectively. As the team evolved, they adopted a structure with regional and functional teams to ensure expertise and effectiveness in different regions.
Centralized Technical Teams for Enhanced Learning and Growth: By keeping technical roles together in a centralized team, organizations can promote collaboration, efficient resource allocation, and a proactive approach to addressing customer needs, while also fostering individual and business growth.
Having a regional team with specialized expertise can hinder the learning and growth of technical roles. It is more effective to keep the technical roles together in a centralized team. When someone in a region wants to run paid ads, they collaborate with the central paid ads team to execute the strategy. Decisions on resource allocation are based on the market potential and competitive landscape. Deel's culture emphasizes "Deel speed" or acting with urgency to address customer needs quickly. Default optimism and a proactive approach to solving challenges are also important. Additionally, the company values customer care and recognizes the personal impact of their platform on individuals and businesses. In return, Deel offers flexibility and autonomy to its employees.
The importance of authentic values for company culture and success: Establishing core values that reflect the company's authentic self and instill a sense of urgency and adventure in the team is essential for fostering fulfillment and avoiding burnout.
Establishing and crystallizing core values is essential for a company's culture and success. In the case of Deel, they developed their values about a year into their company's existence. These values, such as "Deel speed," were already being used and embraced by the team, so they decided to define and share them publicly. This highlights the importance of values reflecting who the company already is, rather than merely aspirational ideals. Airbnb had a similar experience where they initially had six core values but later realized that two of them were not true to their identity, so they made adjustments. The key is to embrace values that represent the company's authentic self and instill a sense of urgency and adventure in the team, fostering fulfillment and avoiding burnout.
Embracing Authenticity: Meltem's Story of Remote Work: Remote work enables flexibility, creativity, and genuine connections, fostering a diverse and supportive work culture.
Remote work offers flexibility and the opportunity to embrace authenticity. Meltem's story of working on an ironing board while enjoying a breathtaking view highlights the creative solutions that can arise when working remotely. It also emphasizes the importance of being able to work from anywhere, enabling Meltem to visit her family in Istanbul without sacrificing her work commitments. Additionally, the virtual nature of the team at Deel allowed for a genuine and sincere connection among colleagues. This authenticity fostered a strong and supportive work culture, where individuals could be themselves without the pressure to conform to traditional office norms. Remote work truly allows for a diverse and flexible work environment.
Simplifying Growth and Adding Value: The key to growth is understanding where people are and adding value to them. It's a straightforward process that requires discipline and execution, along with creativity and self-awareness.
Growth doesn't have to be complicated or difficult. According to Meltem, the key is to go back to the first principles and figure out where the people are and how you can add value to them with your product. It's important to recognize that the process is relatively straightforward, but it requires discipline and execution. It's not rocket science. Additionally, Meltem emphasizes the importance of reading fiction and being creative, not just focusing on nonfiction and constantly learning. She recommends books like "How Will You Measure Your Life" by Clay Christensen for a unique perspective. Furthermore, Meltem's favorite interview question involves asking candidates about what their siblings or parents would say about them, as this reveals their self-awareness and sincerity. Finally, she shares two favorite products she recently discovered: NuStrips, which are caffeine strips for a mild energy boost, and a personalized library stamp for stamping books before giving them away.
Embracing Insecurities for Personal Growth and Success: Acknowledge and embrace your insecurities as they can serve as motivation for personal growth, authenticity, and connection.
Embracing our insecurities is far more beneficial than pretending to be confident. Meltem shares her realization that the world is run by insecure overachievers, and she used to hide her own insecurities until she realized she wasn't alone. Instead of pretending to be confident and brilliant, it is better to acknowledge our insecurities and use them as motivation for growth. This lesson applies to both work and personal life, as it encourages authenticity and vulnerability. By embracing our insecurities, we create a space for growth, connection, and understanding. Meltem's story reminds us that it's okay to have insecurities and that we can use them to fuel our journey towards success and self-acceptance.
