What is Growth Hacking
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A political scientist called Arreguin Toft totaled up all the wars of the past 200 years that occured between very large versus very small countries. Let’s say one side has to be at least 10 times bigger than the other. He looked at what percentage of wars had been won by the bigger side. And we might think it should be around 100% but it’s actually around 70%. And when he studied the wars even closer he found that when the smaller side used unconventional or guerrilla tactics they won 63% of the time. Smaller is not necessarily a disadvantage. (Source: Malcolm Gladwell's "David vs. Goliath")
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What is Growth Hacking
- 1. @growthamsterdam What is Growth “Hacking”? just a sexy word for digital marketing? David Arnoux @darnocks
- 2. David vs Goliath Over the past 200 years, when small armies use unconventional methods they won almost 2/3rds of the time vs. 63.6% victory!
- 4. Why Growth “Hacking”? • Startups tend to have limited resources so they need to be very creative to grow, acquire new users and retain them • • Traditional marketing channels are expensive and saturated • Growth Hackers don’t really care about “brand awareness” they care about ROI and finding out “what works” • It’s exciting and fun as hell!! It’s guerrilla warfare :) Most startups focus heavily on product but the real challenge is with distribution (Dave McClure, founder of 500 startups)
- 5. What is Growth Hacking?
- 6. What is Growth Hacking?
- 7. Growth Hacker vs. Digital Marketer
- 8. Let’s look at some examples...
- 9. PLATFORM INTEGRATION thanks to @morganb
- 10. Airbnb
- 11. Airbnb
- 12. VIRAL GROWTH / REFERRALS thanks to @morganb
- 13. Dropbox 2.8million invites sent in April 2010! 100k to 4mio users from 2008 to 2010!
- 14. DATA & TESTING (conversion rate optimization) (conversion rate optimization)
- 15. Your 2 best friends
- 16. Know where you’re losing visitors (and money) (and money) Visited Signed up Activated Referred
- 17. AB test your sign up forms! (source: contentverve.com)
- 18. AB test your Value Proposition 12% conversion
- 19. AB test your Value Proposition 26% conversion
- 20. A/B test your copywriting +60%
- 21. A/B test imagery and colors (source: contentverve.com)
- 22. A/B test testimonials (source: conversionxl.com)
- 23. A/B test referral pages +200%
- 24. A/B test payment pages +16% sales
- 26. Growth Hacker tools These have saved me from learning to code :D
- 27. Be careful • There is no point in scaling if you have not reached product/market fit (Sean Ellis recommends 40% of users should be “very disappointed to lose your tool) • Some growth hacks are NOT sustainable so only apply to very early stages • The term “Growth Hacking” is used for everything and anything nowadays • It doesn’t really matter what you call it as long as it brings growth!
Notas do Editor
- A great way to grow rapidly is to piggyback your growth off of an existing platform that already has massives numbers of users
- A lot of these examples are huge, but it doesn’t have to be that big, there’s another part of growth hacking that i love even more and that has to do with data and conversion rate optimization. And these are things you can start doing TODAY!