Growth Hacking Success Setting and Achieving High

Impact Growth Goals

November 27, 2016

Overview

•  How goals help to drive sustainable growth

•  How to pick the right high leverage goals

•  How to achieve your goals with a proven process

Problem with No Clear Growth Goals

1.  Team out of sync

2.  Wasted effort

3.  Growth stalls

Why Right Goals Matter?

•  Keeps team focused on leverage

•  Celebrate victories, avoid burnout

•  Makes growth sustainable

Impact of Right Goal at LogMeIn

•  Problem –  “Activation” friction with new users

–  Couldn’t scale beyond $10K/month

•  Goal: Improve new user activation

•  Result: Fixed activation, then same channels profitably scaled 100X.

Today $2.5B Mkt Cap

Keys to Achieving High Impact Goals

1.  Pick the right goal

2.  Communicate specifics 3.  Focus resources

(team and dollars)

4.  Use proven growth hacking process

1. Finding Right High Impact Goals

•  Supports broader mission and goals

•  Most leverage in growth model

•  Solves problems

Example Growth Model (LinkedIn)

2. Share Specifics with Team

•  Context on why goal is important

•  Baseline and target

•  Timeframe to achieve

3. Focus Team/Resources

•  Limit short-term goals (max one goal per person)

•  Assign goal owner

–  Passionate about the goal

–  Committed to achieving it

–  No direct financial incentive

Rally Team Around Goal

Product

External Channels

Promise

1st Experience

Ongoing Experience

Acquisition

Activation Revenue Retention Referral

Marketing PR

Support Success

biz dev

Growth Team

GH Example: Achieving Objective

•  Set aggressive 30 day activation goal for projects

•  VP engineering expressed doubts, “negotiated” 45 days for goal. Same day created new onboarding prototype.

•  Exceeded goal in only 20 days with Eng. VP’s idea

4. Proven Process for Achieving Goals

Analyze

Ideas Prioritize

Test

Goal

Analyze the Situation

•  Quantitative analysis

•  Qualitative feedback

•  Combine for insights

Analyze

Ideas Prioritize

Test

Goal

Qualitative Example from LogMeIn

•  10% signup (90%+ drop off at download step)

•  Several A/B tests failed to fix it

•  Asked: Why didn’t you download?

•  Next test, 300% improvement

Idea Generation for Goal

•  Creative problem solving

•  Weekly brainstorming session for the objective

•  Encourage anytime idea input from anyone

Analyze

Ideas Prioritize

Test

Goal

Create Ideas as Experiment Doc

•  Include hypothesis, research, target lever

ICE Score 1 - 10

I - Impact C - Confidence E - Ease

Prioritize in Weekly Growth Meeting

Analyze

Ideas Prioritize

Test

Goal

•  Nominate ideas in advance

•  “Pitch” team on next tests

•  Decide based on resources and expectations

Only Use ICE to Nominate

Filter to objective Sort by ICE score

Test to Impact Goal

Analyze

Ideas Prioritize

Test

Goal

Improve Overall Testing Throughput

Twitter boosts testing tempo 20X GH boosts testing tempo 10X

Analyze Tests and Report Progress

Analyze

Ideas Prioritize

Test

Goal

•  Share how specific tests impact goal progress

•  Keep goal top of mind for team

•  Tests lead to new ideas

Repeat to Achieve Goals

Analyze

Ideas Prioritize

Test

Goal

Key Takeaways

•  Goal setting critical for sustainable growth

•  Focus on high leverage goals

•  Communicate goals widely

•  Follow growth hacking process to achieve goals

Get a free trial of GrowthHackers Projects at Projects.GrowthHackers.com

Growth Collaboration Software for Teams:

1) Set Objectives 2) Prioritize Testing 3) Organize Learning