Meaghan Fitzgerald – @megfitz

Growth Hacking with DataIt’s Time to Get Obsessed with Analytics

IntroductionMy Background

Meaghan Fitzgerald – @megfitz

Spoonfed Media / Evently

B2C event listings site, grew to 350,000 visitors/month and B2B marketing software surpassed £1mm revenue.

23snaps

Private social network for families, mobile-first platform, over 600,000 users in first 18 months

IMVU

3D virtual chat service. Doubled user base from

12mm to 25mm users.

Other Startup Projects

Personal projects and advisory work with a range of content, software and mobile sites.

What is growth hacking?Growth hacking leverages your product as well as your marketing mix to gain at least one of these four advantages.

Meaghan Fitzgerald – @megfitz

Growth Hacking

Cheaper User

Acquisition

Faster User Acquisition

More Targeted

User Acquisition

Scalable User

Acquisition

What is growth hacking?

Meaghan Fitzgerald – @megfitz

Growth hacking is a marketing arbitrage opportunity.

To recognize the arbitrage opportunity, you need data.

What to TrackHigh level themes to help you decide what data to collect.

Meaghan Fitzgerald – @megfitz

The Sign of ThreeThree levels of business insights

Meaghan Fitzgerald – @megfitz

Key Performance Indicators (KPIs)

Actions (Drivers)

Demographics (Customers)

Key Performance IndicatorsWhat are your core metrics?

Vanity Metrics

Store Reviews

App Page Views

Social Media

Mentions

Meaghan Fitzgerald – @megfitz

Grow

Retain

Monetize

• Registrations

• Sales

• Downloads

• Referrals

• Churn Rate

• Resales / Upsells

• Usage

• Sales / Resales / Upsells

• Ad Revenue

• Revenue / User

• User Life Time Value (LTV)

ActionsDrivers of growth, and critical in understanding your growth hacking success

Meaghan Fitzgerald – @megfitz

Information Overload

Historic Data

On Your Platform Online Offline

- Visits- Interactions with

content- Newsletter signup- Engagement- Last visit- Referrer+ many more

- Facebook fan- Twitter follower- Viewed an online ad- Read an online article- Purchased from a

reseller or marketplace

+ many more

- Connected at an event/tradeshow

- Phone call- Viewed an offline ad- Purchased a physical

product

+ many more

DemographicsThose who become your customers (and those who do not)

Meaghan Fitzgerald – @megfitz

Who doesn’t become your customer might be as relevant

as who does.

How Do You Track It?Tools for tracking data and tips for communicating your tracking needs

Meaghan Fitzgerald – @megfitz

Tracking ToolsThree levels of customization and performance

Meaghan Fitzgerald – @megfitz

Pros Cons

Inexpensive Limited Tracking

Industry Benchmarks

No Support

High Usage, Lots of Guides

Not Customized

Tied to Ad Neworks

Pros Cons

Deeper Insight Expensive

Supports Push Marketing

Requires DevTime to Set Up

API for DataExport

Price ScalesQuickly

Cross Platform

Full Time Job

Pros Cons

Endlessly Customizable

PotentiallySignificant

Development

Generally Cheaper

Reporting Limited to What You Build

Specific to Your Business

No PushMarketing

You Own the Data

“Start Up” Enterprise Custom

Decide with Developers

Integration

Optimization

Maintenance

Exports

Meaghan Fitzgerald – @megfitz

Communicate Your Tracking RationaleWhy are you tracking? Who

• Will implement it?

• needs to access the data?

What

• Are you going to track?

• Format does the data need to be in?

When

• Will people need to be able to access it (real time? Daily? Weekly reports?)

Where

• Will it be stored? On a third party’s system or will you own a copy in house?

Why?

Meaghan Fitzgerald – @megfitz

Taking ActionWhat should we do with these data?

Meaghan Fitzgerald – @megfitz

The Scientific MethodCreate your hypothesis then test, test, test

Ask a Question

Propose a Hypothesis

Test, Test, Test

Collect and Analyze

Data

Draw a Conculsion

Keep Doing What

Works!

Meaghan Fitzgerald – @megfitz

Reverse Engineer Your FunnelLook for what’s working, and do more of it Actions

Demographics (Customers)

Growth

- Visits your site- Requests a quote- Reads a blog post- Follows you on Twitter- Clicks an ad- Demos your product- ‘Like’ on Facebook- Refers a friend- Newsletter sign up

- Company size- Location- Budget- Hobbies/Interests- Education- Homeowner- Profession- Industry- Age

Meaghan Fitzgerald – @megfitz

Meaghan Fitzgerald – meaghan@thetopfloorflat.com – @megfitz

ExamplesGrowth hacking in action.

23snaps and InstagramData analysis showed a new user acquisition channel, and quick product updates led to big growth wins

Meaghan Fitzgerald – @megfitz

•Noticed the increase in users

Unexplained Spike in Registrations

•Analysis of user source

•Searched for brand mentions across platforms

Deep Dive in Analysis •Noticed the types of

Instagram posts people were making

•Audience was a perfect fit

Recognized Instagram Audience

• In-app feature

•Encouraged Instagram hashtags

Created Instagram Sharing Tool •Signed up over 2000

users in 2 days (the day before had signed up 200)

Win!

Spoonfed and EventlyConsumer platform and free listings drove “free” leads for B2B software

Meaghan Fitzgerald – @megfitz

B2C Event Listings Guide (like TimeOut)

Event organizers

submit event

listings

Strong brand and

large userbase

Marketing automation software for event organizers

(HubSpot for events)

Leads

Content

It’s Not Just About NumbersCreativity drives growth hacking

Meaghan Fitzgerald – @megfitz

Data can tell you what’s happened, it can’t tell you what

to do next.

Thank YouQ&A

Meaghan Fitzgerald – @megfitz