Post on 14-Apr-2017
transcript
Hacking GrowthJohn Hathorn
Michael Hourigan
Agenda• Quick intro to growth hacking• Looking at your business as a Funnel• Visualizing Bottlenecks• Hacking in Action• Tools We Use• Questions
What is Growth Hacking?
• The term was first used by Sean Ellis• Core focuses:
• Scalability• Innovation• User Connectivity
2-3X
What are the Pirate Metrics?
• Pirate Metrics is a metrics model for startups devised by Dave McClure of 500 Startups
AARRR!
Step 2 Step 3 4 5
Activation Retention
ReferralRevenue
100% 90% 80% 70% 60%
Macro Funnel
Step 1
Acquisition
Acquisition
• Someone visits your website• Lead• Someone walks into your store
Activation• Turning a lead into a user• Listing your first item on a FSBO site
• Creating a profile
Activation
Retention• Coming back to your site 3x• Listing a second item on a FSBO site• Opening your company’s iPhone app one
week after downloading• Submitting a receipt after two weeks of
creating an account
Revenue
Referral
• Word of Mouth• Incentivized
Referrals• Reviews
HomepageTesting
WelcomeExperience UX/UI
Optimization
AlternativeTrials
CouponOffers
Visualizing Bottlenecks
Step 1 Step 2 3 4
100% 90% 80% 90%40%
AcquisitionActivation
RetentionRevenue
Referral
Where do we start?
Split Testing
Never call a test before statistical significance has been reached!
One Step vs. Multi-step Optimization
Step 1 2 3 4 5
100% 90% 45% 70% 90% 25%
10,000 9000
40502835
2551638
One Step Optimization
Step 1 2 3 4 5
100% 90% 55% 70% 90% 25%
10,000 9000
49503465
3118780
22% INCREASE(Relative)
Compounding Gains
Step 1 2 3 4 5
100% 90% 55% 80% 90% 50%
10,000 9000
49503960
35641782 279%
INCREASE!(Relative)
Size of Funnel
Step 1 2
100% 90%
10,000 9000
80% 70%
3
72005040
More or lesssuccessful?
Let’s Look at Two Shoeboxed Examples
• 1. Mobile App• 2. Web Registration Pathway
Example 1:Mobile App
Mobile App
Step 2Step 3
80%
40%80%
25%
DownloadApp
Create Account
Clicked UpgradeBanner
Upgraded
4 5Made it to App-Store
Listing
Step 1
c
(iAd)PPC (Affordable)
$0.15
100%
Mobile App; Attacking the Bottlenecks
40% 25%Clicked UpgradeBanner Upgraded4 5
50% 35%
Delta +25% Delta +40%
Mobile App
Step 2Step 3
80%
50%
80%35%
DownloadApp
Create Account
Clicked UpgradeBanner
Upgraded
4 5App-Store
Listing
Step 1
+75%
PPC (Affordable)75% higher
c
(iAd)
100%
Example 2:Hacking the Registration
Path
Visit Homepage
Step 1 Step 2
60% 20%80% 30%
Enter Email
Name &Address
StartSubscription
Enter CreditCard
100%
SelectPlans
3 4 5
80%
Used to be 40%!
Hacking the Reg Path
Step 1 Step 2
60% 20%80% 30%100%
3 4 5
80%
1000 600 480 384 77 23
Visit
Email Address Plans Secure Subscription
Hacking the Registration Path
Hacking the Registration Path
Hacking the Registration Path
88%
Hacking the Registration Path
Visit Homepage
Step 1 Step 2
60% 37.6%80% 30%
Enter Email
Name &Address
StartSubscription
Enter CreditCard
100%
SelectPlans
3 4 5
80%
Hacking the Registration Path
Step 1 Step 2
60% 37.6%80% 30%100%
3 4 5
80%
1000 600 480 384 144 43+67 +20
Next Step: Iterating on the Gains
Hacking the Registration Path
Hacking the Registration Path (Compounding Gains)
Visit Homepage
Step 1 Step 2
80% 37.6%80% 30%
Enter Email
Name &Address
StartSubscription
Enter CreditCard
100%
SelectPlans
3 4 5
80%
Step 1 Step 2
80% 37.6%80% 30%100%
3 4 5
80%
1000 800 640 512 193 58+115 +35+200 +160 +128
Hacking the Registration Path (Compounding Gains)
250%Hacking the Registration
Path (Compounding Gains)
Where do you get ideas?
• Case Studies• Competitors• UI/UX Designers• Conversion Optimization Blogs (VWO,
Optimizely)• Analyzing Customers
Other Tests We’ve Run
• Upgrade Ad Creatives• Different Email Drip Campaigns• Calls to Action• Different Business Models (Pricing, Trial Types)• Incentives• Coupons• Push Notifications• App Store Optimization
Tools We Use
Take Aways• Use Pirate Metrics• Think of business in terms of funnels
and multi-step systems• Optimize everything, starting with
bottlenecks• A/B Test• Repeat
Questions?