Growth hacking approach - MIT Sloan School of Management 2016 - EasyParcel.pdf · Data driven...
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ADJ Grow the CORE Mission 1 – Grow the Core “Where has the growth come from? Who uses EasyParcel? “How do we hack the growth in the short to medium term?” Mission 2 – Expand into Adjacencies “What opportunities will expand EasyParcel’s business wingspan?” Mission 3 – Aim for Moon-Shot ideas “What could be game-changers in the long-term?” Leverage internal data to: Segment and profile customer segments Define framework for data-driven growth hacking Assess past performance Customer survey and response analysis Explore user base Validate insights and framework Compile and prioritize recommen- dations Data driven growth hacking EasyParcel has a healthy growth story – fueled by ‘real’ transactions on its platform The active user base is small: Increasing user engagement will drive future growth Customer tenure and loyalty is critical: 70% of revenue generated by 6+ month old users 0-1 and 1-2 Kg dominate parcel demographics, with increasing 6-month share We used k-means clustering to segment the active users based on their EasyParcel usage metrics, and created “personas” for each cluster based on internal EasyParcel data coupled with data collected from an extensive user-survey generated by the MIT team - Established in June 2014 - Over 50K users - Fast growth and upcoming expansions to Indonesia and Thailand Snehil Taparia Shaleen Jain Felipe Longo Tadeu Rocha H 1 HYPOTHESIS K 4 KPIS C 3 CHANGE INITIATIVE A 2 A-B TEST SHORT TERM “GROW THE CORE” MEDIUM TERM “EXPAND INTO ADJAENCIES” LONG TERM “AIM FOR MOONSHOTS” 27 GROWTH STRATEGY HYPOTHESIS 2 ADJACENCY EXPANSION OPTIONS 2 LONG TERM MOONSHOT IDEAS Proposed new organization design for fostering data driven decision making at all levels Prioritized top ~600 customers for immediate reach-out initiatives Objective: Data-driven Growth Hacking Growth hacking approach Understanding EasyParcel’s Growth Segmenting the Active User Base Developed HACK Framework to expound 27 Growth Strategy Hypothesis Snapshot of the final recommendations Final Workshop with EasyParcel Team Team Dinner
Transcript of Growth hacking approach - MIT Sloan School of Management 2016 - EasyParcel.pdf · Data driven...
ADJGrow the CORE
Mission 1 – Grow the Core“Wherehasthegrowthcomefrom?WhousesEasyParcel?“Howdowehackthegrowthintheshorttomediumterm?”
Mission 2 – Expand into Adjacencies“WhatopportunitieswillexpandEasyParcel’sbusinesswingspan?”
Mission 3 – Aim for Moon-Shot ideas“Whatcouldbegame-changersinthelong-term?”
Objective:Data-drivenGrowthHacking
Leverageinternaldatato:
Segmentandprofilecustomersegments
Defineframeworkfordata-drivengrowthhacking
Assesspastperformance
Customersurveyandresponseanalysis
Exploreuserbase
Validateinsightsandframework
Compileandprioritize
recommen-dations
Datadrivengrowthhacking
Growthhackingapproach
EasyParcelhasahealthygrowthstory– fueledby‘real’transactionsonitsplatform
Theactiveuserbaseissmall:Increasinguserengagementwilldrivefuturegrowth
Customertenureandloyaltyiscritical:70%ofrevenuegeneratedby6+montholdusers
0-1and1-2Kgdominateparceldemographics,withincreasing6-monthshare
UnderstandingEasyParcel’s Growth
Weusedk-meansclusteringtosegmenttheactiveusersbasedontheirEasyParcelusagemetrics,andcreated“personas”foreachclusterbasedoninternalEasyParceldatacoupled
withdatacollectedfromanextensiveuser-surveygeneratedbytheMITteam
SegmentingtheActiveUserBase
- EstablishedinJune2014- Over50Kusers- Fastgrowthandupcomingexpansionsto
IndonesiaandThailand
Snehil Taparia Shaleen Jain FelipeLongoTadeu Rocha
DevelopedHACKFrameworktoexpound27GrowthStrategyHypothesis
H1
HYPOTHESIS
K4
KPIS
C3
CHANGEINITIATIVE
A2
A-BTEST
Snapshotofthefinalrecommendations
SHORTTERM“GROWTHECORE”
MEDIUMTERM“EXPANDINTOADJAENCIES”
LONGTERM“AIMFORMOONSHOTS”
27GROWTHSTRATEGY
HYPOTHESIS
2ADJACENCYEXPANSION
OPTIONS
2LONGTERM
MOONSHOTIDEAS
Proposedneworganizationdesignforfosteringdatadrivendecisionmakingatalllevels
Prioritizedtop~600customersforimmediatereach-outinitiatives
Objective:Data-drivenGrowthHacking Growthhackingapproach
UnderstandingEasyParcel’s Growth SegmentingtheActiveUserBase
DevelopedHACKFrameworktoexpound27GrowthStrategyHypothesis Snapshotofthefinalrecommendations
FinalWorkshopwithEasyParcel Team TeamDinner
