The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20Growth: How Transferwise Acquired Their First 5M Customers: The Two Types of Content All Companies Must Create, How to Crush Competition With Performance Marketing, What Growth Hacks Worked and Did Not with Nilan Peiris, CPO @ Wise
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Jul 26, 2024 Nilan Peiris, Chief Product Officer at Wise, shares his expertise on scaling growth. He discusses key strategies that helped Wise acquire their first million users and reveals what didn't work. Nilan emphasizes the importance of creating two types of content to outpace competitors and explains why SEO and SEM still matter. He also dives into performance marketing, highlighting common mistakes and the right time to diversify channels. Hear firsthand insights from his journey in the fintech sector and valuable lessons on customer acquisition.
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First Customers
- Wise's first customers arrived after a TechCrunch blog post and interview.
- Early customer acquisition involved targeting international money-sending communities.
Early Marketing Mix
- Paid marketing and word-of-mouth were both effective for Wise, each contributing about 30% and 70% of customer acquisition, respectively.
- Social media marketing, particularly Facebook, proved successful due to its ability to target friends of existing users, leveraging the power of word-of-mouth.
Content Strategy
- Create two types of content: on-topic and off-topic.
- On-topic content should aim to be the best resource on the internet for your specific niche, while off-topic content should target adjacent interests of your target audience.