AGENDA
1. What is Growth Hacking?
a. Growth Hacking Misconceptions
b. Growth Hacking - The Real Deal
2. When to Growth Hack?
3. Examples of Growth Drivers
4. How to get started with the Growth Hacking Process?
1WHAT IS GROWTH HACKING?
THE ORIGINS
GROWTH HACKING MISCONCEPTIONS & THE REAL DEAL
Misconceptions:
● Growth Hacking = Digital Marketing● Copying “Growth Hacks” Works● Growth Hacking Is About Tactics - Finding a Silver Bullet● Growth Hacking = User Acquisition
What It Really Is:
● Product as Growth Driver● Experimentation & Rapid Testing● Process Driven Approach
GROWTH HACKING = DIGITAL MARKETING?
GROWTH HACKING MISCONCEPTIONS
“How this startup grew from 250 to 5,000 users in 24 hours with this simple growth hack”
Some of the top posts in growthhackers.com:
● How we Figured Out What Makes People Love Ghost 1,000% More● 15 Twitter Hacks That Will Turn You Into a Twitter Ninja● 10 Brilliant Marketing Stunts That Put Startups On The Map Read● The 3 hacks that got SpringSled 138,790 users in less than 40 days● How to Gather 100,000 Emails in One Week (Includes Successful Templates,
Code, Everything You Need)
GROWTH HACKING MISCONCEPTIONS
On GrowthHackers.com, categories include…
GROWTH HACKING MISCONCEPTIONS
ABOUT COPYING “GROWTH HACKS”...
“Growth Hacks” can’t be duplicated, there are too many variables:
● Different audiences
● Different contexts
● Different products
● Different user experiences
● Different motivations
● Different times
● Etc.
COPYING GROWTH HACKS
COPYING GROWTH HACKS
COPYING GROWTH HACKS
Don’t blindly copy things - do what works best for you
COPYING GROWTH HACKS
ABOUT SILVER BULLETS...
SILVER BULLETS?
?
THE GROWTH HACKING FUNNEL
Acquisition = getting people to come to your site
THE GROWTH HACKING FUNNEL
EXAMPLE: UBER
Activation = getting people to take the required action, e.g. purchase, sign up
THE GROWTH HACKING FUNNEL
EXAMPLE: UBER
Retention = getting users to come back to your site
THE GROWTH HACKING FUNNEL
EXAMPLE: UBER
Referral = getting active users to refer others
THE GROWTH HACKING FUNNEL
EXAMPLE: UBER
EXAMPLE: UBER
Revenue = monetising active users
THE GROWTH HACKING FUNNEL
EXAMPLE: UBER
GROWTH HACKING = USER ACQUISITION?
GROWTH HACKING = USER ACQUISITION?
Viddy is a social video application that enables its users to capture, edit, and share videos, photos, and collages with friends.
EXAMPLE: VIDDY
EXAMPLE: VIDDY
‘The Instagram For Video’Celebrity users like Mark Zuckerberg, Justin Bieber, Snoop Dogg, and T-Pain
FundingRaised $30 million in May 2012Valued at $370 millionInvestors like Twitter co-founder Biz Stone, Shakira, and Jay-Z's Roc Nation
EXAMPLE: VIDDY
Returned $18 million of its big funding round to investorsBought out by Fullscreen
Optimize
Optimize
Optimize
Optimize Optimize
GROWTH HACKING = USER ACQUISITION?
PRODUCT AS GROWTH DRIVER
YOU + CUSTOMER
The Aha! moment
Many leading tech companies have promoted “aha moments”—the instant a user understands the value of their product—as a key to growth.
Credit: Chamath Palihapitiya and Facebook’s “aha moment”
→ Facebook’s ”5 friends in 10 days” insight
PRODUCT AS GROWTH DRIVER
PRODUCT AS GROWTH DRIVER
→ Twitter’s ”follow 30 people” insight
RAPID EXPERIMENTATION PROCESS
HIGH TEMPO TESTING
→ Growthhackers.com grew from 90,000 MAU to 152,000 MAU in eleven weeks without spending a dollar on advertising or increasing the size of their growth team
HOW?
● Including all stakeholders (interns, community members, developers, growth team, etc.) in ideation brainstorming
● Kicking off 3 experiments per week
EXPERIMENTATION AND RAPID TESTING
Brainstorm
Prioritize
Develop Hypotheses
Test & Analyse
Systemize/ Iterate
EXPERIMENTATION PROCESS
WHEN TO GROWTH HACK?2
GROWTH STAGES
Problem-Solution Fit Product-Market Fit ScaleGrowth
GROWTH STAGES
Problem-Solution Fit Product-Market Fit ScaleGrowth
Focus: Validated Learning
Experiments: Pivots
Terrain: Qualitative
Focus: Growth
Experiments: Optimisations
Terrain: Quantitative
GROWTH STAGES - PRODUCT MARKET FIT
GROWTH STAGES - PRODUCT MARKET FIT
GROWTH STAGES - PRODUCT MARKET FIT
How would you feel if you could no longer use my product?
XX
GROWTH STAGES - PRODUCT MARKET FIT
GROWTH STAGES - PRODUCT MARKET FIT
EXAMPLES OF GROWTH DRIVERS3
GROWTH STAGES - GROWTH
Problem-Solution Fit Product-Market Fit ScaleGrowth
● Identify repeatable, scalable user acquisition channels
● Identify your must-have user experience and maximise % of users that gets there
● Develop viral loops
● Set up retention mechanics
● Focus on 1 metric and optimise 1 stage of the funnel at a time
1) User Acquisition○ Platform Integrations
○ Embeds
○ Powered by
○ Free Tools
○ SEO (Landing Pages)
○ Affiliate Programs and Partnerships
2) Activation○ Data Driven Growth
3) Referral● Virality
4) Retention● Community
GROWTH DRIVERS
USER ACQUISITION
Platform Integrations
PLATFORM INTEGRATIONS
PLATFORM INTEGRATIONS
PLATFORM INTEGRATIONS
PLATFORM INTEGRATIONS
PLATFORM INTEGRATIONS
USER ACQUISITION
Embeds
EMBEDS
USER ACQUISITION
Powered by
POWERED BY
USER ACQUISITION
Free Tools
FREE TOOLS
FREE TOOLS
USER ACQUISITION
SEO (Landing Pages)
SourceL http://blog.hubspot.com/blog/tabid/6307/bid/33756/Why-You-Yes-You-Need-to-Create-More-Landing-Pages.aspx
Companies with 10+ landing pages get 55% more signups
Each page should be 90% unique:
•Different offers•Different customer segments•Different unique selling points
USER ACQUISITION
Affiliate Programs & Partnerships
AFFILIATE PROGRAMS & PARTNERSHIPS
AFFILIATE PROGRAMS & PARTNERSHIPS
AFFILIATE PROGRAMS & PARTNERSHIPS
AFFILIATE PROGRAMS & PARTNERSHIPS
ACTIVATION
Data Driven Growth
DATA DRIVEN GROWTH
DATA DRIVEN GROWTH
DATA DRIVEN GROWTH
ChenLi Wang, who runs growth at Dropbox, has noted that the best indicator of
whether someone will continue using Dropbox is when they put at least one file
in one Dropbox folder.
DATA DRIVEN GROWTH
REFERRAL / USER ACQUISITION
Virality
VIRALITY
VIRALITY
VIRALITY
RETENTION
Community
COMMUNITY
90
91
HOW TO GET STARTED WITH THE GROWTH HACKING PROCESS? 4
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve and develop OKRs
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
EXPERIMENTATION PROCESS
Example: Hello Bar
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
FOUNDATION 1: IDENTIFY METRIC TO IMPROVE
Example: Hello Bar Funnel
→ Low installation rate
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
FOUNDATION 2: COLLECT DATA
Example: Hello Bar
Identify the Problem - Why don’t people install?
FOUNDATION 2: COLLECT DATA
Example: Hello Bar
Identify the Problem - Why don’t people install?
Example: Hello Bar
Identify the Problem - Why don’t people install?
FOUNDATION 2: COLLECT DATA
Example: Hello Bar
Identify the Problem - Why don’t people install?
FOUNDATION 2: COLLECT DATA
EXPERIMENTATION PROCESS
Brainstorm
Prioritize
Develop Hypotheses
Test & Analyse
Systemize/ Iterate
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
1) Test 2 different value propositions
2) Offer more installation options
3) Redesign the Hello Bar
4) …..
BRAINSTORM IDEAS
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
STEP 3: DEVELOP HYPOTHESES
Example: Hello Bar
Hypothesis:
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
STEP 4: RUN THE EXPERIMENT
Example: Hello Bar
New Work Flow
Example: Hello Bar
New Work Flow
STEP 4: RUN THE EXPERIMENT
Example: Hello Bar
New Work Flow (41.67% responded with “WordPress Plugin”)
STEP 4: RUN THE EXPERIMENT
Example: Hello Bar
New Work Flow (25% responded with “Email my developer / web designer”)
STEP 4: RUN THE EXPERIMENT
Example: Hello Bar
New Work Flow
STEP 4: RUN THE EXPERIMENT
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
STEP 5: ANALYSE RESULTS
Example: Hello Bar Funnel
Example: Hello Bar Funnel
STEP 5: ANALYSE RESULTS
GROWTH HACKING PROCESS
Focus on one metric at a time and optimize it through a process of experimentation.
Step 3: Develop Hypotheses
Step 4: Run the Experiment
Step 5: Analyse Results
Step 6: Systemise and Repeat
Foundation 1: Identify metric to improve
Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance
Step 1: Brainstorm ideas how to improve the metric
Step 2: Prioritize the Ideas
STEP 4: RUN THE EXPERIMENT
New Work Flow
Brainstorm
Prioritize
Develop Hypotheses
Test & Analyse
Systemize/ Iterate
RECAP: EXPERIMENTATION PROCESS