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PETER FISHERMAN - GROWTH AND ANALYTICS, APPROACHES TO LEARNING QUICKLY WITH BIG OR SMALL DATA
- 1. Growth Hacking Forum: Approaches to learning quickly from Big Data and Small Data Peter Fishman 11/1/17
- 3. My Recipe for Growth Hacking • Track the right things • Create a culture of testing • Do simple analysis • Pass the eye test • Understand the customer • Fast, frequent, accurate feedback • Bet into your data • Beware of the Ted Williams Shift
- 4. Track the right things…
- 5. Create a Culture of Testing…
- 7. Hall, Kendrick, Nosko (2015) “push a button and get a ride in minutes” It must pass the Eye Test
- 8. Customer response Driver response
- 9. Natural Experiment (NYE Technical Glitch)
- 10. (Try to) Understand the customer decisions… • Online-only – $59.00 • Print + Online – $125.00 • Print-only – $125.00
- 12. Bet into your data
- 13. Beware of the Ted Williams Shift… “But what if I bunt during an at bat when I would have hit a homerun?”
- 14. Thank You, Any Questions?
- 15. Backup Slides
- 16. Write equations that cancel… Revenue = Users Install/ User DAU/ Install Payer/ DAU Revenue/Pay erx x x x Virality Monetization Components of “lifetime value” = Revenue/User RetentionUser Acquisition DAUs
- 17. “Hope Score” • Number of employees • Seasonality • # of cases in 1st 30 days • # of cases with >24 hr resolution • PTO, LTD, other features
- 18. Hope Score vX Build the model Validate Talk to Stakeholders
- 19. There are many more estimation problems • What lead is most likely to respond to marketing activity? • What potential customer is likely to convert? • What customer is likely to create cases? • What spokes help minimize churn?
- 20. “Can you ‘knock the socks off’ of the company in 90 days?” -- DJ Patil (2011) “It’s important to understand that doing something mind-blowing in 90 days is a team goal, as much as an individual goal.” Knock the Socks Off the Company
- 21. Think like a scientist HT: Christian Rudder
- 22. “That which is measured improves” - Pearson’s Law
- 23. Geek is the new cool “If you ever go bar hopping, who do you want to take with you? You want a slightly uglier version of yourself. Similar… but slightly uglier.” – Dan Ariely