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03 Dec 2013 Growth hacking 101 explained as a love story build it and they won’t come with love, Evans M. [email protected] www.weareasilia.com
| Date post: | 18-Oct-2014 |
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Technology |
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03 Dec 2013
Growth hacking 101 explained as a love storybuild it and they won’t come
with love, Evans [email protected]
Growth hacking 101 explained as a love story
Growth hacking 101 explained as a love story
Growth hacking defined.
★ A process. A mindset. ★ Lean marketing for startups.★ A marriage of engineering and marketing.★ What they didn’t tell you about their viral growth.★ Building a self-perpetuating marketing machine.★ Coming up with ingenious tech-based avenues for
product growth.★ Developing repeatable, scalable methods for growth,
driven by product and inspired by data.
Growth hacking 101 explained as a love story
Growth hacking visualized.
Growth hacking 101 explained as a love story
Remember the marriage definition?
More about this graphic
Growth hacking 101 explained as a love story
Some words in this world.
More about this graphic
★ Viral growth is actually engineered. Who knew?
Growth hacking 101 explained as a love story
Some pains. Growth challenges.
★ Nailing the distribution:• New channel creation.• Channel saturation.
★ The “best product” fallacy:• Today, a stronger distribution strategy can beat a superior product.• “If anyone tells you products sell themselves, they probably want
you to fail” – Phil Libin, co-founder and CEO of Evernote.★ Product-growth fit:
• After product-market fit, this is the most daunting challenge for startups.
• Many think marketing will be the easy part.• Challenging to find the right method (from 100s) to acquire a
customer and monetize.
Growth hacking 101 explained as a love story
Growth hacking to the rescue...
Growth hacking 101 explained as a love story
The process: press hack to proceed.
1. Define actionable goals. 2. Setup analytics to track your goals.3. Leverage your existing strengths.4. Experiment.5. Refine your experiment.6. Repeat steps 1 - 5.
Growth hacking 101 explained as a love story
Start with the Pirates: AARRR!!!
Really cool pirate crew and anime – One Piece. Just saying... Interested?
Growth hacking 101 explained as a love story
and their startup metrics...
Dave McClure’s Framework:★ Acquisition: visitors get to your site from various channels.★ Activation:
visitors enjoy first time visit; ‘happy’ user experience.★ Retention:
users come back, visit site multiple times.★ Referral:
users like site enough to refer others.★ Revenue:
users conduct some monetization behaviour.
AARRR!!!more on startup metrics for pirates
Growth hacking 101 explained as a love story
How to predict the future...
Surest way is to create (part of) it
Growth hacking 101 explained as a love story
...using growth hacking only?
★ Use THE funnel:• Funnels help direct things which are hard to control, like liquids.• Direct people to take pre-defined actions on your website.
★ Monitor each stage of your funnel:• Getting visitors.• Activating members.• Retaining users.
★ Optimize the conversion rate at different stages:• Use analytics.• Conduct experiments and learn from them.• Take action.
★ Keep an eye on the big picture:• Key Performance Indicators (KPIs).• Overall funnel conversion rate.• Create testable, scalable, repeatable methods for growth.
Growth hacking 101 explained as a love story
They didn’t use traditional marketing...★ These brands use(d) growth hacking to grow their
brands and increase profits.
Growth hacking 101 explained as a love story
and some specific examples...Attracted many early on by allowing its users to cross-post their listings to craigslist, which was already popular. Back then craigslist had no public API.
Attracted many through clear calls to action, simplicity, refer-a-friend program, dropquests and more incentives to connect on social media.
Attracted many and lost many till they came up with their much talked about on-boarding process that makes new users get to the AHA moment faster. Increased retention and acquisition.
Growth hacking 101 explained as a love story
Mr. Miyagi say...
Learn how to use chopsticks and how to catch flies
Growth hacking 101 explained as a love story
7 take-outs.1. Learn how to catch flies attention, convert and retain.2. Build it and they won’t come – make them come +
stay.3. Virality is not the norm – it’s engineered into products.4. Product and distribution are both important – good
product + bad distribution = bad result.5. Monitor and optimize your funnel. Listen to your
website visitors + users and respond.6. Leaky buckets don’t need more water – retention
trumps acquisition.7. Growth hacking is a mindset that’s about creativity
and creating scalable and repeatable methods for growth driven by product and inspired by data.
Growth hacking 101 explained as a love story
Growth hacking 101 explained as a love story
The love story...and some mathVisitor meets website = Blind date. Good first impression = More dates. Visitor finds website interesting = Status change to ‘in a relationship’.
Visitor turns member – subscribes, signs up or makes a purchase. Newly in love with your site (honeymoon).
Tells friends about it = Referrals. Your website’s worth proven repeatedly and value still stands = Repeat visits, activations and referrals. Member goes from being ‘in a relationship’ to ‘married’ = Member turned user. Site keeps long time users happy = Happily married.
Growth hacking methods get as many blind dates and turn as many of those blind dates into happy marriages. And happily ever afters. With creativity and science.
Growth hacking 101 explained as a love story
Create a happily ever after...
