Growth Hacking Fundamentals @ Echelon Jakarta (by Growth Hacking Asia)
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The document provides an overview of growth hacking fundamentals. It begins by defining growth hacking as a process-driven approach focused on rapid experimentation to drive product growth, rather than just tactics or user acquisition. It discusses when growth hacking is most applicable and examples of common growth drivers like user acquisition, activation, referral, and retention. The document concludes by outlining the typical growth hacking process of identifying metrics to optimize, developing hypotheses, running experiments, analyzing results, and systematizing learnings.
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Growth Hacking Fundamentals @ Echelon Jakarta (by Growth Hacking Asia)
- 2. 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?
- 3. 1 WHAT IS GROWTH HACKING?
- 5. THE ORIGINS
- 6. 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
- 7. GROWTH HACKING = DIGITAL MARKETING?
- 9. “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
- 10. On GrowthHackers.com, categories include… GROWTH HACKING MISCONCEPTIONS
- 11. ABOUT COPYING “GROWTH HACKS”...
- 12. “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
- 15. Don’t blindly copy things - do what works best for you COPYING GROWTH HACKS
- 18. THE GROWTH HACKING FUNNEL
- 19. Acquisition = getting people to come to your site THE GROWTH HACKING FUNNEL
- 20. EXAMPLE: UBER
- 21. Activation = getting people to take the required action, e.g. purchase, sign up THE GROWTH HACKING FUNNEL
- 22. EXAMPLE: UBER
- 23. Retention = getting users to come back to your site THE GROWTH HACKING FUNNEL
- 24. EXAMPLE: UBER
- 25. Referral = getting active users to refer others THE GROWTH HACKING FUNNEL
- 26. EXAMPLE: UBER
- 27. EXAMPLE: UBER
- 28. Revenue = monetising active users THE GROWTH HACKING FUNNEL
- 29. EXAMPLE: UBER
- 30. GROWTH HACKING = USER ACQUISITION?
- 31. GROWTH HACKING = USER ACQUISITION?
- 32. Viddy is a social video application that enables its users to capture, edit, and share videos, photos, and collages with friends. EXAMPLE: VIDDY
- 33. EXAMPLE: VIDDY ‘The Instagram For Video’ Celebrity users like Mark Zuckerberg, Justin Bieber, Snoop Dogg, and T-Pain Funding Raised $30 million in May 2012 Valued at $370 million Investors like Twitter co-founder Biz Stone, Shakira, and Jay-Z's Roc Nation
- 36. EXAMPLE: VIDDY Returned $18 million of its big funding round to investors Bought out by Fullscreen
- 37. Optimize Optimize Optimize Optimize Optimize GROWTH HACKING = USER ACQUISITION?
- 38. PRODUCT AS GROWTH DRIVER
- 39. YOU + CUSTOMER
- 40. 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”
- 41. → Facebook’s ”5 friends in 10 days” insight PRODUCT AS GROWTH DRIVER
- 42. PRODUCT AS GROWTH DRIVER → Twitter’s ”follow 30 people” insight
- 44. 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
- 45. Brainstorm Prioritize Develop Hypotheses Test & Analyse Systemize/ Iterate EXPERIMENTATION PROCESS
- 46. WHEN TO GROWTH HACK? 2
- 47. GROWTH STAGES Problem-Solution Fit Product-Market Fit ScaleGrowth
- 48. GROWTH STAGES Problem-Solution Fit Product-Market Fit ScaleGrowth Focus: Validated Learning Experiments: Pivots Terrain: Qualitative Focus: Growth Experiments: Optimisations Terrain: Quantitative
- 49. GROWTH STAGES - PRODUCT MARKET FIT
- 50. GROWTH STAGES - PRODUCT MARKET FIT
- 51. GROWTH STAGES - PRODUCT MARKET FIT
- 52. How would you feel if you could no longer use my product? XX GROWTH STAGES - PRODUCT MARKET FIT
- 53. GROWTH STAGES - PRODUCT MARKET FIT
- 54. EXAMPLES OF GROWTH DRIVERS 3
- 55. 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
- 56. 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
- 64. EMBEDS
- 66. POWERED BY
- 68. FREE TOOLS
- 69. FREE TOOLS
- 70. USER ACQUISITION SEO (Landing Pages)
- 71. 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
- 73. Each page should be 90% unique: •Different offers •Different customer segments •Different unique selling points
- 74. USER ACQUISITION Affiliate Programs & Partnerships
- 75. AFFILIATE PROGRAMS & PARTNERSHIPS
- 76. AFFILIATE PROGRAMS & PARTNERSHIPS
- 77. AFFILIATE PROGRAMS & PARTNERSHIPS
- 78. AFFILIATE PROGRAMS & PARTNERSHIPS
- 82. 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.
- 84. REFERRAL / USER ACQUISITION Virality
- 85. VIRALITY
- 86. VIRALITY
- 87. VIRALITY
- 89. COMMUNITY
- 90. 90
- 91. 91
- 93. HOW TO GET STARTED WITH THE GROWTH HACKING PROCESS? 4
- 94. 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
- 96. 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
- 97. FOUNDATION 1: IDENTIFY METRIC TO IMPROVE Example: Hello Bar Funnel → Low installation rate
- 98. 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
- 99. FOUNDATION 2: COLLECT DATA Example: Hello Bar Identify the Problem - Why don’t people install?
- 100. FOUNDATION 2: COLLECT DATA Example: Hello Bar Identify the Problem - Why don’t people install?
- 101. Example: Hello Bar Identify the Problem - Why don’t people install? FOUNDATION 2: COLLECT DATA
- 102. Example: Hello Bar Identify the Problem - Why don’t people install? FOUNDATION 2: COLLECT DATA
- 103. EXPERIMENTATION PROCESS Brainstorm Prioritize Develop Hypotheses Test & Analyse Systemize/ Iterate
- 104. 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
- 105. 1) Test 2 different value propositions 2) Offer more installation options 3) Redesign the Hello Bar 4) ….. BRAINSTORM IDEAS
- 106. 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
- 107. STEP 3: DEVELOP HYPOTHESES Example: Hello Bar Hypothesis:
- 108. 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
- 109. STEP 4: RUN THE EXPERIMENT Example: Hello Bar New Work Flow
- 110. Example: Hello Bar New Work Flow STEP 4: RUN THE EXPERIMENT
- 111. Example: Hello Bar New Work Flow (41.67% responded with “WordPress Plugin”) STEP 4: RUN THE EXPERIMENT
- 112. Example: Hello Bar New Work Flow (25% responded with “Email my developer / web designer”) STEP 4: RUN THE EXPERIMENT
- 113. Example: Hello Bar New Work Flow STEP 4: RUN THE EXPERIMENT
- 114. 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
- 115. STEP 5: ANALYSE RESULTS Example: Hello Bar Funnel
- 116. Example: Hello Bar Funnel STEP 5: ANALYSE RESULTS
- 117. 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
- 118. STEP 4: RUN THE EXPERIMENT New Work Flow