lessons learned from building a growth team
TRANSCRIPT
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Lessons Learned from Building a Growth Team.
Kieran FlanaganVP Marketing @ HubSpot@[email protected]
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“There is a disproportionate value in being the first mover into a new space”
- Gary Vaynerchuck
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When it comes to marketing, it certainly pays to be a fast follower.
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Examples?
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Advertising has been around for a long time.
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The first American magazine is published in Philadelphia.
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This is what an Ad looked like.
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Then,
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A scholar named Samuel Johnson writes:
Whatever is common is despised.
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A scholar named Samuel Johnson writes:
Whatever is common is despised.
Advertisements are now so numerous that they are very
negligently perused.
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A scholar named Samuel Johnson writes:
Whatever is common is despised.
Advertisements are now so numerous that they are very
negligently perused.
It has become necessary to gain attention by
magnificence of promises.
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Ads moved online in 1994
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The following banner appeared from AT&T in
Hotwired magazine in 1994.
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It had a CTR of 44% …
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Consider this CTR versus that of Facebook Ads
c
44%Hotwired ’94
1.8%Facebook ‘14
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In 1996 Gary Vaynerchuk took over his dad’s wine business. It had $3 million in revenue.
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By 2005 that number was $50 million
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His weekly newsletter was a big part of that growth.
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Those emails regularly got open rates of +80%.
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Mass adoption of email for marketing has lead to a steady decline in CTRs.
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That decline is set to continue
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AirBnB grew by automatically posting your listing to Craigslist.
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And is now being disrupted by vertical markets like AirBnB.
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This is a common cycle in marketing
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Effe
ctiv
enes
s
Time
1. Tactics Discovered
2. Tactics Optimized
EVOUTION OF TACTICS
3. Tactics Adopted by Masses
4. Tactic Fatigue
Image courtesy of http://www.reforge.co/growth-series/
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THE POPULARITY OF POP UPS
Neil Patel (Yes/No) Pop up
Fast FollowersAdopt
Lots of Tools helps Mass adoption
CTR normalize for all users
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“It works for a while, until your customers get used to the effect, and start ignoring it”
Andrew Chen, Entrepreneur
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A growth team helps you foster a culture of validated learnings, help find points of leverage and will innovative on existing channels.
@Searchbrat
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Here are some of our learnings ..
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Growth Lessons
1
2
Goals for Experiments
Approach to Experiments
3 Examples of Experiments
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1 Goals for Experiments
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Experiments can help change the world.
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An additional $60 million in campaign funds.
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All good marketers focused on growth should have an obsessive focus on a singular goal.
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They know how to measure and prioritize the right metrics.
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This will change how you measure the success or failure of your experiments.
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CRM Active Users
Would video increase active users of our CRM?
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One version of the sign up page had video explaining the product.
Version A Version B
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Version A Version B
Generated 30% more sign ups
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Version A Version B
Generated 10% more active users
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* WINNER *
Active Users > Sign ups
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Having a culture of shared learnings means other team members can benefit.
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LeadIn Active Users
Would video increase active users of LeadIn?
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One version of the sign up page had video explaining the product.
Version A Version B
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Version A Version B
Increased sign ups by 13%
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Version A Version B
Increased active users by 130%
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The PIE model will mean you work on experiments with highest impact.
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The PIE Model is based on 3 simple scores.Potential – The potential ceiling for this experiment Importance – The importance to the businessEase– Ease of implementation
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Number of SEO Visits
% CTR on Sign up page
% of people who add email and
domain
% of people who get error messages
% of people who have existing
portals
% CTR on Onboarding
emails
WATs
CR Team Member Invite
Page
POTENTIAL SHOULD BE TIED TO A RANGE
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Number of SEO Visits
% CTR on Sign up page
% of people who add email and
domain
% of people who get error messages
% of people who have existing
portals
% CTR on Onboarding
emails
Number of Teams (+1)
CR Team Member Invite
Page
{10,000}
{20%}
{2,000}
{40%}
{800}
{50%}
{400}
{20%}
{80}
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Number of SEO Visits
% CTR on Sign up page
% of people who add email and
domain
% of people who get error messages
% of people who have existing
portals
% CTR on Onboarding
emails
Number of Teams (+1)
CR Team Member Invite
Page
{15,000}
{20%}
{3,000}
{40%}
{1200}
{50%}
{600}
{20%}
{120}
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Number of SEO Visits
% CTR on Sign up page
% of people who add email and
domain
% of people who get error messages
% of people who have existing
portals
% CTR on Onboarding
emails
Number of Teams (+1)
CR Team Member Invite
Page
{10,000}
{20%}
{2,000}
{40%}
{800}
{50%}
{400}
{40%}
{160}
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Hat Tip to WiderFunnel for
PIE>> widerfunnel.com <<
@WiderFunnel
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2 Approach to Experiments
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Each marketer has their own experiment funnel.
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IDEAS
EVALUATION
PIE SCORED
RUNNING
ANALYSIS
OUTCOME
All experiment ideas
Gather all information for PIE
PIE Score
Active experiments
Analysis of run experiments
What we learned
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Shared experiment board on Trello
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Shared experiment board on Trello
In a given week we have 20 to 30 experiments running.
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Add Growthhackers Projects
Growthhackers Projects
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“I have not failed. I’ve just found 10,000 ways that won’t work.”
- Thomas Edison
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3 Experiments J
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Our experiments are split into the following categories.
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Prove a hypothesis about the way something works.
ANALYSIS
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Prove if a different version would perform better than the control.
TESTS
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Prove if an untested tactic or channel can provide us with points of leverage.
PILOTS
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Let’s Run Through Some Experiments
Increase Organic Traffic
Increase Content
Performance
Increase Leads from
Blogs
Increase Sign ups
with Copy
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Experiment to rank more of our content in Google’s answer box
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Look for commonalties in the content that ranks for featured snippets.
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From a sample of just under 5,000 queries, I found that the CTR to our website for high volume keywords increased by over 114%, even when we ranked #1.
@matthewbarby
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What we found
Search query should appear as header with clear steps directly after it.
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In general the “answers” were between 54 to 58 words.
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Google will often show the “Steps” listed in chronological order.
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Based on learnings, we updated 80 blog posts that ranked on the first page of Google for 199 keywords.
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Over 10% of keywords moved into Featured Snippet box.
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Organic traffic to these posts increased by 23%.
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Let’s Run Through Some Experiments
Increase Organic Traffic
Increase Content
Performance
Increase Leads from
Blogs
Increase Sign ups
with Copy
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Experiment to create the optimal editorial calendar for our blogs
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Longer content on our blog gets more organic traffic.
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It also attracts more inbound links and social shares.
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We can use this information to run experiments around content formats.
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Let’s Run Through Some Experiments
Increase Organic Traffic
Increase Content
Performance
Increase Leads from
Blogs
Increase Sign ups
with Copy
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How much of a difference does user intent make?
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Before: “how to write a press release”
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After: “how to write a press release”
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How to overcome the effects of “CTA blindness”
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End-of-post banner CTAs historically had generated a lot of leads but their impact had declined.
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Track performance of CTAs so we can spot downward trends.
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We tested against CTAs that looked less like Ads.
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Anchor text CTAs increased our leads generated on that post by 121%.
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Always look for that fast follower advantage.
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Would making the design of our blog a lot ‘cleaner’ increase CTR on those CTAs?
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Good for content discovery but could be very distracting.
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We removed it and monitored our results over 4 weeks.
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Clicks on our anchor text CTAs only improved by 5% L
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But load time of our blog posts improved by 50% and organic traffic is trending upwards.
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Let’s Run Through Some Experiments
Increase Organic Traffic
Increase Content
Performance
Increase Leads from
Blogs
Increase Sign ups
with Copy
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“Make everything as simple as possible, but not simpler.”
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Sometimes the experiments with the best results are the simplest ideas.
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Small copy changes can superchargeviral loops.
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Small copy changes can superchargeviral loops.
User adds LeadIn to their blog
The user clicks on the “Powered” by
link
The user creates a LeadIn account
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We changed the copy for that link ….
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… and increased the number of people who clicked on it by 340%
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Small copy changes can remove frictionin your sign up flow.
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We added 6 words of copy to alleviate peoples concerns …
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… and increased our Free Trial sign up by 10%.
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Remember, not every experiment is meant to be a run-away success.
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We run experiments to learn what our future points of leverage could be.
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Maybe communities like Slack will be more important for brands than email?
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Performance to date only slightly better than email with 6% CTR.
Could push notifications provide better results than email?
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Could push notifications provide better results than email?
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Constantly experiment with new platforms that may have relevant audiences.
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An experimental approach to marketing helps you build a plan based on future trends.
@Searchbrat
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Remember when surviving a bear attack ….
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Get in Contact.Twitter: @searchbrat
LinkedIn: linkedin.com/in/kieranjflanagan
Google: Search for “Kieran Flanagan”