Post on 20-Jan-2017
transcript
Agenda
• Intro• TheBigTakeaways• Whoareyou?,WhoamI?• WhatthehellisGrowthHacking?• CreatingacultureofGrowthinany organisation
• Tyler’sTop5GrowthHackingDisciplines:1. AcquisitionMarketing2. CustomerInsight3. DataAnalysis4. ProductManagement5. CROandA/BTesting
• Wrap-Up
Whoareyou?
1. Early-stageStartup à Establishedcorporate2. StrongexistingcultureofGrowthà I’mpushingforastrongcultureofGrowth.
Mybackground
• 5start-ups• Sizes:Teamsof5to250• Stages:Lookingforproduct-marketfit,toestablishingtractiontoprofitablegrowth.• AcrosstheFunnel:AcquisitiontoOptimisationtoProductMarketing• Industries:eCommerce,financialservices,marketplace,software
Betthishappenedtoyou:
• Friend:“Whatdoyoudoforwork?”• Me:“I’maGrowthHacker.”*chest-out*• Friend:“Whatthehellisthat?”
HarvardSays…
“EveryCompanyneedsaGrowthManager”byJeffBussgang &Nadav BenbarakHarvardBusinessReviewhttps://hbr.org/2016/02/every-company-needs-a-growth-manager
CreatingaCultureofGrowth:GrowthisaTeameffort
TheUnknowns,myhiddengems• Friend inC/S• GuywhocangettheREALdataoutoftheDWH
Across– StarsofeachDepartment
Up– Management&Executives
CreatingaCultureofGrowthHacking
1. Managerbuy-in• Accesstoresources
2. ShareinaForum• What’scoming• Results
3. Resources&KeepLearning:• ConversionRateExperts• Optimizely:Optiverse&Opticon• Conferences• GrowthHackerMeetups
Tyler’s1st GrowthHackingDiscipline:
AcquisitionMarketingTylerWilchekGrowthHacker,BrickXConnectonLinkedInMarch15th,2016
#1:AcquisitionMarketingKeyConcepts• KPI• Haveone• Beatit
• A/BTesteverything• AlwaysbeLearning• More$$àmoredataàmorelearning
#1:AcquisitionMarketingStagesofGrowth:TheRocketInternetWay1. InitialTraction• Getasale,nomatterthecost.
#1:AcquisitionMarketingStagesofGrowth:TheRocketInternetWay1. InitialTraction• Getasale,nomatterthecost
2. EfficientlyScale• CostperOrder(CPO)
#1:AcquisitionMarketingStagesofGrowth:TheRocketInternetWay1. InitialTraction• Getasale,nomatterthecost
2. EfficientlyScale• CostperOrder(CPO)
3. TakeMarketShare• Costtoacquireacustomer(CAC)
#1:AcquisitionMarketingStagesofGrowth:TheRocketInternetWay1. InitialTraction• Getasale,nomatterthecost
2. EfficientlyScale• CostperOrder(CPO)
3. TakeMarketShare• Costtoacquireacustomer(CAC)
4. Profitability• CosttoRevenueRatio(CRR)
#1:AcquisitionMarketingGoogleSEM• DailyKPITracking• Crunchtheresults,pulllevers
• NailthePlatform• Sitelinkextensions• RLSA• Daybidding(168h/wk)
• A/BTesting• LEARNfromyouradcreatives
Tyler’s2nd GrowthHackingDiscipline:
CustomerInsightTylerWilchekGrowthHacker,BrickXConnectonLinkedInMarch15th,2016
#2:CustomerInsightYinYang• BeCross-Functional• Qualitative&Quantitativedata.• Whenyouseeatrend,lookacrosstoconfirm.
• Qualitative• UserTesting• Surveys• CustomerServiceNuggets
• Quantitative• GA• DWH• ValuableInternalReports
#2:CustomerInsightUserTesting• PrepTime:1hour• Prepare7-10tasksfortheusertest
• Cost:1day+$250• 5usertestsessionsonusertesting.com
• Post-Analysis• Lookforthemes• Transcribe,pullgreatcustomerquotes
#2:CustomerInsightSurveys• Qualaroo surveying• Powerfulstep-chainsurveys• EX:
• Q:Whyaren’tyoubuying?• A:Shipping• CouponforFreeShipping
• Knowledgeshare• Yoursupportteam
Tyler’s3rd GrowthHackingDiscipline:
DataAnalysisTylerWilchekGrowthHacker,BrickXConnectonLinkedInMarch15th,2016
#3:DataAnalysisHowtoMeasureSuccess1. Benchmark2. Forecast3. MeasureResults
• KeyAnalysis:• Marketingacquisitionmetrics• Funnelanalysis• Targetedpromotions• A/BTests• ValueAddAnalysis
#3:DataAnalysisValueAddAnalysis:TopProductsQuestion:Whatarethetop1,000products?
NOTE:Weightingsareestimatedtoshowconcept.
20
20
25
25
10
WeightbyInput
Investment- Product
BrandPower- GoogleVolume
ProductSuccess- Revenue
ProductSuccess- Views
Investment- Brand
#3:DataAnalysisForA/BTestsMeasuretheKPIclosesttoyourchange
Examples:1. CautionaryTale:SportsNavigationTest2. ClosestKPI:HomepageTest
#3:DataAnalysisStatisticalSignificanceforA/BTestsUSEASTATISTICALSIGNIFICANCECALCULATOR!
2KeyInputs1. SampleSize2. DeltaonyourCR%
Benchmark:• BaselineCR%• Trafficcomingthroughexperiment
Forecast:• LengthofTest
Tyler’s4th GrowthHackingDiscipline:
ProductManagementTylerWilchekGrowthHacker,BrickXConnectonLinkedInMarch15th,2016
#3:ProductManagementMustHave?OrMoneyPit:SortingAlgorithm
“Wow,greatproduct!”(FunnelStep1à 2)
“Wow,nosizes!”(FunnelStep2à Exit)
Tyler’s5th GrowthHackingDiscipline:
CRO&A/BTestingTylerWilchekGrowthHacker,BrickXConnectonLinkedInMarch15th,2016
#5:CROandA/BTestingHypothesisTesting• HypothesisTesting• If…Then...• If….wechangeXYZfromstatusquotomyidea,Then....Weimpact__KPI.
• LearnRatevs.WinRate• Nosuchthingasalosingtestifyoulearn!
Hypothesis
IfwechangetheNikeBannerstofeaturekeyproducts(Free&TechCapri),Thenwewill:1) IncreasePDPviewstoourTopSKU’s2) IncreaseRevenueofHeroSKU’s3) IncreaseCR%ofNike4) IncreasePDPViewsofNikeSKU’s