Lenny Distilled

When to invest in new acquisition channels

September 15, 2022

Featuring: Adam Grenier (Former Head of Growth Marketing and Innovation, Uber)

7 quotes · 4 insights

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Master basics before chasing emerging channels

There's very few companies that I recommend saying, 'Yes, go put energy on this brand new channel that you don't know how to scale yet before you've figured out some type of volume on Google and Facebook.'
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 24:53
Brand new channels, I don't know, they rarely work or are worth the effort early that you hope that they will be. Like 5% of the time.
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 35:34
If you just assume you need to launch a new channel to fix this problem, you're going to be wrong, because your entire customer base changed, not just the next 10% of customers that you're looking for.
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 00:00:00

Burnout whispers before it screams

One of the biggest signals for me is adaptability goes down really fast. When you're looking for ways to minimize the challenge or the opportunity, I think that's a pretty good signal that they may be more burnt out than just exhaustion.
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 65:37

Time-box experiments to learn fast

In this context, "fishing" means putting out initial exploratory efforts to test a new marketing channel and see if there's any promising response, similar to testing the waters.

Generally I wouldn't let anything bleed past a quarter. You can probably get some good signal in a month or less, what I would call fishing.
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 00:27:33

Product and engineering are two sides of the same coin

If you are CMO and your product leader aren't married at the hip, you're just missing out on just tons of opportunity.
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 00:43:37
Product is no longer a part of marketing, but it's actually they're married at the hip. They're one and the same, and most companies aren't operating that way.
Adam GrenierFormer Head of Growth Marketing and Innovation, Uber 00:46:17

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