Growth Hacking Paris Meetup #0
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Transcript of Growth Hacking Paris Meetup #0
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What is Growth Hacking
Who is the Growth Hacker
What this guy does concretely - case studies
The holy sources
The 3D of Trinity
This is growth hacking
What is Growth Hacking?GH looks like a mix of everything: Psychology, copywriting, digital marketing, analytics, front-end dev, back-end dev, anthropology.
2. What is a growth hacker?
If you wanted to recruit a GH, what would you look for?(Q/A)
Let’s look at FacebookIn their early days the Growth Team was composed of Chamath Palihapitiya, Blake Ross, Andy Johns, Javier Olivan…
Let’s look at Facebook
You don’t know these guys?
Let’s look at their skills:- direct acquisition,- front-end development & design,- back-end development,- data science.
So basically if you want to hire a GH, you are just looking for someone to cover the full spectrum of a startup.
Inspector gadget x superman?
No job descriptionYou can’t tell what a growth hacker should be like.
A growth hacker is just someone who is obsessively focused on growth and only on growth*
*if you think it’s like the CEO I would be worried about your your treasury
He should be either autonomous on most matters or/and someone who could use the core team skills to ensure the growth
What does the GH do
1. Let’s go back to facebook
Traction since it was hot.
But they’ve spoted that to activating new user -> 7 mailsPS: what’s your risk of spaming (especially in the early days?)
+ easier to activate with female
2. Circle of friends
– Discovered that moms on Circle of Friends were far more active than other users:
• Their messages to one another were on average 50% longer.
• They were 115% more likely to attach a picture to a post.
• They were 110% more likely to engage in a threaded (i.e. deep) conversation.
• They were 75% more likely to click on Facebook notifications.
• They were 180% more likely to click on Facebook news feed items
• They were 60% more likely to accept invitations to the app.
– Pivoted entire company from Circle of Friends to Circle of Moms.
– Grew from 2MM monthly active users to 4.5MM – Sold to Sugar Inc.
3. AirBnB & Craiglist
3. AirBnB & the photosWent from 20 photographers in the field in 2011 to doing 5,000 shoots per month.
4. Dropbox - acquisitionBonus : kick ass video full of MEMES (you have to understand the culture, remember)
4. Dropbox - Referral
PROBLEM:
revenue = $99
CAC = $300
referal : free space for (Acquisition + Activation) ->
– Users sent 2.8 million direct referral invites in April 2010.
– In Sept. 2008 the service had 100,000 registered users.
– In Jan 2010 (15 mos.) the service had 4,000,000.
5. Twitter 30 follows
6. Living social - ReferralInsight:
– Building an audience can be outside of the core product experience.
– Giving away deals is cheaper than giving away cash.
• Hack:
– Building a purely viral Facebook app called Pick Your 5, and growing virally until pivoting to daily deals.
– A new twist on refer-a-friend with the 3-and-free dynamic.
•Result:
– 10’s of millions of Facebook app installs
– 70MM users as of 11/12
The holy sources A. AnalyticsB. Trying always new things
A. AnalyticsDeep dive vs spot check
A. AnalyticsFrameworks
Funel : the simplest the more powerfull
Get visitors -> activate members -> retain usersStay simple : core metrics + simplest framework possible (the math gets easy : XYZ)
AARRR To focus on referal (cf viral loop) + revenue ($ matters at the end)
A. Analytics
Vanity metrics
Hypothesis
Correlation-causality
A. ANALYTICS
PS : for those who think this all is easy, just one quick story:
B. Always trying new things
Growth hacking is like x-> e^xBut we always finish on a plateauNot a single sprint : it’s like interval training
B. Always trying new thingsImagination is KEY!
V. The 3D Of TrinityDesign, data, distribution
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