growth hacking fundamentals @ echelon jakarta (by growth hacking asia)

Growth Hacking Fundamentals

Anna Rehermannanna@growthhackingasia.com

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)

On GrowthHackers.com, categories include…

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

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

EXAMPLE: UBER

Activation = getting people to take the required action, e.g. purchase, sign up

EXAMPLE: UBER

Retention = getting users to come back to your site

EXAMPLE: UBER

Referral = getting active users to refer others

EXAMPLE: UBER

Revenue = monetising active users

EXAMPLE: UBER

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

‘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

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

→ 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

● 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

Focus: Validated Learning

Experiments: Pivots

Terrain: Qualitative

Focus: Growth

Experiments: Optimisations

Terrain: Quantitative

GROWTH STAGES - PRODUCT MARKET FIT

How would you feel if you could no longer use my product?

GROWTH STAGES - PRODUCT MARKET FIT

EXAMPLES OF GROWTH DRIVERS3

GROWTH STAGES - GROWTH

● 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

USER ACQUISITION

Embeds

EMBEDS

USER ACQUISITION

Powered by

POWERED BY

USER ACQUISITION

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

ACTIVATION

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

RETENTION

Community

COMMUNITY

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

Example: Hello Bar

Foundation 1: Identify metric to improve

FOUNDATION 1: IDENTIFY METRIC TO IMPROVE

Example: Hello Bar Funnel

→ Low installation rate

FOUNDATION 2: COLLECT DATA

Example: Hello Bar

Identify the Problem - Why don’t people install?

Example: Hello Bar

Brainstorm

Prioritize

Develop Hypotheses

Test & Analyse

Systemize/ Iterate

1) Test 2 different value propositions

2) Offer more installation options

3) Redesign the Hello Bar

4) …..

BRAINSTORM IDEAS

STEP 3: DEVELOP HYPOTHESES

Example: Hello Bar

Hypothesis:

STEP 4: RUN THE EXPERIMENT

Example: Hello Bar

New Work Flow

Example: Hello Bar

New Work Flow

Example: Hello Bar

New Work Flow (41.67% responded with “WordPress Plugin”)

Example: Hello Bar

New Work Flow (25% responded with “Email my developer / web designer”)

Example: Hello Bar

New Work Flow

STEP 5: ANALYSE RESULTS

Example: Hello Bar Funnel

STEP 5: ANALYSE RESULTS

New Work Flow

Brainstorm

Prioritize

Develop Hypotheses

Test & Analyse

Systemize/ Iterate

RECAP: EXPERIMENTATION PROCESS

CONTACT:

Anna Rehermannanna@growthhackingasia.com

growth hacking fundamentals @ echelon jakarta (by growth hacking asia)

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