Growth Hacking: How to grow a bootstrapped startup - by

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Transcript of Growth Hacking: How to grow a bootstrapped startup - by

  • StartupCVs GmbH Confidential and Proprietary

    Menghan nver

    Berlin, December 2015

    Growth Hacking:

    How to grow a bootstrapped startup

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    Bootstrapping is fundamental for a growth mindset

    Example for Bootstrapping

    $40 USD per box

    Sold 500 boxes

    AirBnB financed $30k for initial traction

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    A growth hacker is a person

    whose true north is

    growth. Everything they do

    is scrutinized by its potential

    impact on scalable growth.

    Sean Ellis, 2010

    Growth Hacking focuses on scalable growth

    Definition of Growth Hacking

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    Growth hacking is a new way of marketing for tech startups

    Traditional Marketer vs Growth Hacker

    Traditional Marketer Growth Hacker

    Makes people want a product Makes a product people want

    Creative and artistic background Generally technical background

    Strong expertise in a certain area Generalist, few dominant skills

    Decisions are based on opinions, hierarchy Highly data driven, focus on experiments

    Used paid channels, has high budgets Initially free and low-cost channels due to limited budgets

    No clear funnel, departments work independently

    Clearly defined funnel, high interdependencies between all departments

    Source: direct-spark.com, traditional marketing vs growth hacking

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    All stages of the customer lifecycle are approached

    Pirate Metrics: AARRR!!

    Source: Startup Metrics for Pirates, Dave McClure, 500 Startups * Source: Startup Pyramite, Startup-Marketing.com

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    AirBnB growth hacked Craigslist for acquisition

    Example: Acquisition

    1. Craigslists users 2. Craigslists advertisers

    Source: Airbnb: The Growth Story You Didn't Know, Growthhackers

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    Dropbox is rewarding users with space

    Example: Activation

    Dropbox rewards users for the onboarding with their own product.

    Source: trak.io, 39 actionable growth hacking tactics part 2 of 5

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    Facebook uses (transactional) notifications for retention

    Example: Retention

    Source: lolseo.com, 5 shades off acebooks push retention

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    A Powered by badge is a powerful referral tactic

    Example: Referrals

    Mailchimp:

    $30 USD in credit for every new

    user via the MonkeyRewards

    Badge

    Mixpanel:

    Adding the badge means you

    get 200,000 data points every

    month plus 25,000 people profiles

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    One of the best revenue hacks is the easiest one

    Example: Revenue

    ~3% of all credit cards expire

    every month.

    A simple reminder about an

    expiring credit card can prevent

    a subscribed client from

    churning.

    Source: churnbuster.io, sixteenventures.com

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    Eat like a bird, poop like an elephant

    Quote by Guy Kawasaki

    Source: Guy Kawasaki, Rules for Revolutionaries: The Capitalist Manifesto for Creating and Marketing New Products and Services

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    Thank You!

    Startup Metrics for Pirates on Slideshare Dace McClure (Founder 500 Startups)

    Reddit.com/r/growthhacking Reddit community

    Sixteenventures.com SaaS growth strategies

    Growthhackers.com Growth hacking community by sean ellis

    Andrewchen.co Andrew Chens blog (Growth hacker at Uber)

    www.paulgraham.com/articles.html - Paul Grahams startup essays (Founder Y Combinator)

    Get in touch!

    menguehan@startupcvs.com

    www.StartupCVs.com

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