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IntroBackgroundWhat we’re going to cover tonight:What is Growth Hacking?Why it’s important.Different types of hacksHow to become a growth hackerHow to get started hacking“Great companies take growth seriously” - Adam Nash
The problem with a new term is that there is a lot of disagreement about what is and isn’t growth hacking and who is and isn’t a growth hacker. Some people say it requires code-level execution to be considered a hack, some say it can be anything that hacks a convention, code driven or not.But at it’s core, growth hacking is the practice for finding asymmetrical upside to marketing investment. It’s growth by being smarter, not spending more, than the other guy.Growth is not a handful of one-off tactics. It’s a methodology that leverages marketing and product strategies aimed at unlocking scalable user and/or revenue growth. Growth hacking is not always viral
Hacked post to Craigslist feature in the site even though there is no official API to do so. Tapped into massive marketplace which drove tons of new users to their services.
Facebook integration removed friction in sign up processInvitations were one-clickViral mechanics - vote which friend you’d rather work with and post it to their wallIt’s about reducing friction!!
Started with a hypothesis “Hosts w/professional photos will get more business.”Built a concierge MVP, no automation, just manually operating the test.Found that listings with pro photos got 2-3x more bookings than average.Began to build out product around photos:Added watermarks for authenticityOffered pro photos via customer service callsUpped photo quality requirements for non-pro shot listings20 photographers -> 5,000 shoots per month
Circle of Friends leverages Facebook platform to go viral to 10 million users. Became a ghost town. Only 20% of circles were active. Roughly 2MM monthly active users.