Growth Hacking Fundamentals @ Echelon Jakarta (by Growth Hacking Asia)

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Transcript of 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)

    GROWTH HACKING MISCONCEPTIONS

    http://blog.ghost.org/ghost-onboarding/http://blog.ghost.org/ghost-onboarding/https://blog.bufferapp.com/twitter-hackshttps://blog.bufferapp.com/twitter-hackshttp://www.businessinsider.com/10-brilliant-marketing-stunts-that-put-startups-on-the-map-2014-8?op=1#ixzz3LBK0BYw6http://www.businessinsider.com/10-brilliant-marketing-stunts-that-put-startups-on-the-map-2014-8?op=1#ixzz3LBK0BYw6http://sumo.ly/1jQzhttp://sumo.ly/1jQzhttp://fourhourworkweek.com/2014/07/21/harrys-prelaunchr-email/http://fourhourworkweek.com/2014/07/21/harrys-prelaunchr-email/http://fourhourworkweek.com/2014/07/21/harrys-prelaunchr-email/

  • On GrowthHackers.com, categories include

    GROWTH HACKING MISCONCEPTIONS

    http://www.growthhackers.com/

  • ABOUT COPYING GROWTH HACKS...

  • Growth Hacks cant be duplicated, there are too many variables:

    Different audiences

    Different contexts

    Different products

    Different user experiences

    Different motivations

    Different times

    Etc.

    COPYING GROWTH HACKS

  • COPYING GROWTH HACKS

  • COPYING GROWTH HACKS

  • Dont 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

    THE GROWTH HACKING FUNNEL

  • EXAMPLE: UBER

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

    THE GROWTH HACKING FUNNEL

  • EXAMPLE: UBER

  • Retention = getting users to come back to your site

    THE GROWTH HACKING FUNNEL

  • EXAMPLE: UBER

  • Referral = getting active users to refer others

    THE GROWTH HACKING FUNNEL

  • EXAMPLE: UBER

  • EXAMPLE: UBER

  • Revenue = monetising active users

    THE GROWTH HACKING FUNNEL

  • EXAMPLE: UBER

  • GROWTH HACKING = USER ACQUISITION?

  • GROWTH HACKING = USER ACQUISITION?

  • Viddyis a social video application that enables its users to capture, edit, and share videos, photos, and collages with friends.

    EXAMPLE: VIDDY

  • EXAMPLE: VIDDY

    The Instagram For VideoCelebrity 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

    Optimize Optimize

    GROWTH HACKING = USER ACQUISITION?

  • PRODUCT AS GROWTH DRIVER

  • YOU + CUSTOMER

  • The Aha! moment

    Many leading tech companies have promoted aha momentsthe instant a user understands the value of their productas a key to growth.

    Credit: Chamath Palihapitiya and Facebooks aha moment

    http://ryangum.com/chamath-palihapitiya-how-we-put-facebook-on-the-path-to-1-billion-users/

  • Facebooks 5 friends in 10 days insight

    PRODUCT AS GROWTH DRIVER

  • PRODUCT AS GROWTH DRIVER

    Twitters 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

    HOW?

    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

    Problem-Solution Fit Product-Market Fit ScaleGrowth

    Focus: Validated Learning

    Experiments: Pivots

    Terrain: Qualitative

    Focus: Growth

    Experiments: Optimisations

    Terrain: Quantitative

  • GROWTH STAGES - PRODUCT MARKET FIT

  • GROWTH STAGES - PRODUCT MARKET FIT

  • GROWTH STAGES - PRODUCT MARKET FIT

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

    XX

    GROWTH STAGES - PRODUCT MARKET FIT

  • GROWTH STAGES - PRODUCT MARKET FIT

  • EXAMPLES OF GROWTH DRIVERS3

  • GROWTH STAGES - GROWTH

    Problem-Solution Fit Product-Market Fit ScaleGrowth

    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

  • PLATFORM INTEGRATIONS

  • PLATFORM INTEGRATIONS

  • PLATFORM INTEGRATIONS

  • PLATFORM INTEGRATIONS

  • USER ACQUISITION

    Embeds

  • EMBEDS

  • USER ACQUISITION

    Powered by

  • POWERED BY

  • USER ACQUISITION

    Free Tools

  • 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 offersDifferent customer segmentsDifferent unique selling points

  • USER ACQUISITION

    Affiliate Programs & Partnerships

  • AFFILIATE PROGRAMS & PARTNERSHIPS

  • AFFILIATE PROGRAMS & PARTNERSHIPS

  • AFFILIATE PROGRAMS & PARTNERSHIPS

  • AFFILIATE PROGRAMS & PARTNERSHIPS

  • ACTIVATION

    Data Driven Growth

  • DATA DRIVEN GROWTH

  • 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

  • VIRALITY

  • VIRALITY

  • RETENTION

    Community

  • COMMUNITY

  • 90

  • 91

  • 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

  • EXPERIMENTATION PROCESS

    Example: Hello Bar

  • 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

    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

  • FOUNDATION 1: IDENTIFY METRIC TO IMPROVE

    Example: Hello Bar Funnel

    Low installation rate

  • GROWTH HACKING PROCESS

    Focus on one metric at a time and optimize it through