Growth hacking is a marketing technique that uses creativity and analytical thinking to continuously test small growth ideas. It involves setting objectives and key results to generate new growth ideas, testing them through a process of brainstorming, prioritization, specification, implementation, analysis, and automation. This allows companies to continuously adapt their tactics to changing environments and build scalable and predictable growth machines.
2. WHAT IS GROWTH HACKING?
IT isn’t a Gen Y’s buzzword… it IS a marketing technique
IT isn’t powered by Sith magic… it IS powered by creativity and
analytical thinking
Marketer DeveloperGrowth
Hacker
3. WHY DO I NEED IT?
Long term growth is a sum of small parts
Source: Brian Balfour’s The First Step To Building A Growth Machine
4. WHY DO I NEED IT?
Rate of change is accelerating
Source: Brian Balfour’s The First Step To Building A Growth Machine
5. WHY DO I NEED IT?
And… What works for you, Won’t work for others.
Your audience is different.
Your product is different.
Your business model is different.
Your customer journey is different.
Your business is different. Hopefully!
Source: Brian Balfour’s The First Step To Building A Growth Machine
6.
7. HOW DO I START?
PROCESS first… TACTICS second.
To continuously generate new growth ideas, test them and learn
effectively.
To continuously adapt your tactics to the changing environment.
To to setup a scalable, predictable* and repeatable GROWTH
MACHINE
*Somehow predictable. Taking risks and breaking thinks are a part of the GH process
10. OKR FRAMEWORK
OBJECTIVE: Goal. Tells you where to go. QUALITATIVE.
Inspirational. Slightly uncomfortable.
KEY RESULTS: Indicate how you will get there. QUANTITATIVE.
Achievable. Quantifiable. Graded.
KR1 : Goal 1 – Easiest (90% chance of being hit)
KR2: Goal 2 – Intermediary (50% chance of being hit)
KR3: Goal 3 – Hard (10% chance of being hit)
TIME FRAME: 30-90 days.
11. OKR EXAMPLE
OBJECTIVE: Dominate the world
KR1 : Increase domination from 43% to 51%
KR2: Find 2 new allies
KR3: Take over Panama and Suez Canals before Winter
OBJECTIVE: Implement user-testing process
KR1 : Conduct at least 4 face to face testing sessions per week
KR2: Receive at least 15 video interviews per month from
usertesting.com
KR3: Make sure at least 80% of interviewed people are from core
target group
Ideal 3 objectives with 3 key results. Maximum 5 objectives with 4 key
results.
OKRs are public. Everyone can know what you are working on.
Grading 60-70% is usually considered good.
All must agree. Not dictating.
12. GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Brainstorm on the inputs for an expected output
Conversion rate = Step A * Step B * Step C
Create a backlog of experiments
Start with brief description and categorization
Public document available to whole company.
Output Inputs
13. GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Build a framework to prioritize the experiments
Consider impact, resources, probability...
Estimate impact
If successful, [VARIABLE] will increase by [IMPACT], because
[ASSUMPTIONS].
Estimate resources
Marketing [TIME] Design [TIME] Engineering [TIME]
14. GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Write a Minimum Viable Test specification for your hypothesis
Create an experiment document
15. GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Get $#it done
Make sure you can isolate impact [VARIABLE] measurement
Risotto principle. Cook peacefully. Eat when ready.
16. GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Validate against your framework
Impact, accuracy…
Log your learning's in the experiment document
Why did you see the results that you did?
Share the results!
17. GROWTH HACKING PROCESS
BRAINSTORMING PRIORITIZATION SPECIFICATION IMPLEMENTATION ANALYSIS AUTOMATION
Productize success
Feed engineering with …
Review your processes and share the results
Why did you see the results that you did?
[LOOP]
Notas do Editor
In the unlikely event that you don’t know that a Sith is http://en.wikipedia.org/wiki/Sith & http://starwars.wikia.com/wiki/Sith
This slide reproduces Brian Balfour’s The First Step To Building A Growth Machine blog post. @bbalfour :: http://www.coelevate.com
This slide reproduces Brian Balfour’s The First Step To Building A Growth Machine blog post. @bbalfour :: http://www.coelevate.com
This slide reproduces Brian Balfour’s The First Step To Building A Growth Machine blog post. @bbalfour :: http://www.coelevate.com