Post on 23-Jan-2018
transcript
Growth Hacking: A Product Perspective
A little about me
LIFE:33 years young
1 wife
1 small daughter
Official Star Wars Model Builder
Past Skater
STARTUPS:6 founded
2 failed
1 acquired
1 still rocking
1 fundraising
10 programs’ mentor
4 advisor
1000+Pitches
What I’ve Learned
• Story telling is best (not necessarily why you think)• Lowest common denominator• People expect to be somewhat entertained
This is a discussion
• Ask• Ask• Ask
Most startups find themselves facing the
Same ‘Duh’ phase
They build a product no one ends up using
TechCrunch! Launch!Something happens
Several K users…(but most of them use once or twice)
Nothing like this:
You’re in the ‘ok, now what?’ (‘Duh’) Phase, my friend
Lean iterations
Noveltywares off
Ok, Now what?
TechCrunchAwesomeness
Crash & Burn
Ripple effect
Oh HELL yeah!
It goes back to the early beginning of your startup.
and again, we must ask ourselves what's wrong?!?
What's thee problem?
Enter, Growth Hacking
Buzzzzzzzzzzzzzzzzzz
WTF is it anyways??
Growth Hacking is using a set of methods, practices and some data science to deal with user growth
What is our ‘hook’ moment?
How do I reduce churn?
If Growth=more users and Hacking=loosely means new and clever ways to do something then:
Viral growth
A/B testing
SEO
Product
Email marketing
Onboarding
UX
Behavioral economicsPR
Analytics
Most companies measure and track 3 things
TrafficTraffic
Users Users
Revenue Revenue
Step 1 Step 2 Step 3
People come in ? People
pay
Step 1 Step 2 Step 3
Gettraffic ?
Step 4 Step 5
Getusers ? Profit
Those metrics are were enough
The magic is in between the steps
The key is to fully map your user lifecycle of your product
Funneling!
The lean marketing framework: AARRR(ggg)
ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
PR
A/B testing
SEO
Partnerships
EmailEvents
Blogs
Analytics
Viral
ACQUISITION = getting people to come to your site
ACQUISITION
PR
A/B testing
SEO
Partnerships
EmailEvents
Blogs
Analytics
Viral
ACTIVATION = getting people to sign up. Anything for a repeat visit
ACQUISITION
ACTIVATION
PR
A/B testing
SEO
Partnerships
EmailEvents
Blogs
Analytics
Viral
RETENTION = getting users to become active
ACQUISITION
ACTIVATION
RETENTION
PR
A/B testing
SEO
Partnerships
EmailEvents
Blogs
Analytics
Viral
REVENUE = monetizing active users
ACQUISITION
ACTIVATION
RETENTION
REVENUE
PR
A/B testing
SEO
Partnerships
EmailEvents
Blogs
Analytics
Viral
ACQUISITION
REFERRAL =getting active users to get their friends sign up
ACTIVATION
RETENTION
REVENUE
REFERRAL
Each step of the framework is assigned a user state
Growth Hacking is figuring out how to change or progress user state
(in the funnel)
Creates account Visits again later
???
1800
Activation Retention Revenues
10% 30% 20%
Acquisition
18054 10.4
Conversions. Measure them in each step
MIXpanelMIXpanel KISSmetricsKISSmetrics
Dave McClure’s conversion metrics and values
1800
Activation Retention Revenues
1% 18% 0%
Acquisition
183
0
When you start, your numbers are going to be shitty
Focus here
Don’t focus on acquisition if your
activation rate is 1%
AQCUISTIONAQCUISTION:get trended on
Product Hunt. Use your network
ACTIVATIONACTIVATION:Okcupid.com
employs a virtual assistance to help you set up. And are funny.
REFERALREFERAL:FB, Twitter, Li, etc. Are naturally an easy way to refer more friends /
followers
REFERALREFERAL:Quora forces you to sign up before you can read answers
(and share)
REFERALREFERAL:Incentivized!
Dropbox, AppSumoand LivingSocial
know very well how good incentives
works
RETENTIONRETENTION:Path has your
friends do it for you
RETENTIONRETENTION:Eventbrite sends you email if you’vebeen inactive for
some time
ACTIVATIONACTIVATION:Dropbox send an email when a user signed-‐up but
hasn’t installed the software
Now back to Product…Now back to Product…
ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
Thanks for sticking outThanks for sticking out
Thanks for sticking outJ
Thanks for sticking outJ