growth hacking overview
TRANSCRIPT
WHAT IS GROWTH HACKING?
IT isn’t a Gen Y’s buzzword… it IS a marketing technique
IT isn’t powered by Sith magic… it IS powered by creativity and analytical thinking
Marketer DeveloperGrowthHacker
WHY DO I NEED IT?
Long term growth is a sum of small parts
Source: Brian Balfour’s The First Step To Building A Growth Machine
WHY DO I NEED IT?
Rate of change is accelerating
Source: Brian Balfour’s The First Step To Building A Growth Machine
WHY DO I NEED IT?
And… What works for you, Won’t work for others.
Your audience is different.Your product is different.Your business model is different.Your customer journey is different.
Your business is different. Hopefully!
Source: Brian Balfour’s The First Step To Building A Growth Machine
HOW DO I START?
PROCESS first… TACTICS second.
To continuously generate new growth ideas, test them and learn effectively.
To continuously adapt your tactics to the changing environment.
To to setup a scalable, predictable* and repeatable GROWTH MACHINE
*Somehow predictable. Taking risks and breaking thinks are a part of the GH process
OKR FRAMEWORK
OBJECTIVE: Goal. Tells you where to go. QUALITATIVE.Inspirational. Slightly uncomfortable.
KEY RESULTS: Indicate how you will get there. QUANTITATIVE.Achievable. Quantifiable. Graded.
KR1 : Goal 1 – Easiest (90% chance of being hit)KR2: Goal 2 – Intermediary (50% chance of being hit)KR3: Goal 3 – Hard (10% chance of being hit)
TIME FRAME: 30-90 days.
OKR EXAMPLE
OBJECTIVE: Dominate the worldKR1 : Increase domination from 43% to 51%KR2: Find 2 new alliesKR3: Take over Panama and Suez Canals before Winter
OBJECTIVE: Implement user-testing processKR1 : Conduct at least 4 face to face testing sessions per weekKR2: Receive at least 15 video interviews per month from usertesting.comKR3: Make sure at least 80% of interviewed people are from core target group
Ideal 3 objectives with 3 key results. Maximum 5 objectives with 4 key results.OKRs are public. Everyone can know what you are working on.Grading 60-70% is usually considered good.All must agree. Not dictating.
GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Brainstorm on the inputs for an expected output
Conversion rate = Step A * Step B * Step C
Create a backlog of experiments
Start with brief description and categorizationPublic document available to whole company.
Output Inputs
GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Build a framework to prioritize the experiments
Consider impact, resources, probability...
Estimate impact
If successful, [VARIABLE] will increase by [IMPACT], because [ASSUMPTIONS].
Estimate resources
Marketing [TIME] Design [TIME] Engineering [TIME]
GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Write a Minimum Viable Test specification for your hypothesis
Create an experiment document
GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Get $#it done
Make sure you can isolate impact [VARIABLE] measurement
Risotto principle. Cook peacefully. Eat when ready.
GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Validate against your framework
Impact, accuracy…
Log your learning's in the experiment document
Why did you see the results that you did?
Share the results!
GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Productize success
Feed engineering with …
Review your processes and share the results
Why did you see the results that you did?
[LOOP]