Samira mchater at hyper island
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A presentation about Growth Hacking, data and metrics I did at Hyper Island for the program Digital Business in Stockholm.
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Samira mchater at hyper island
- 1. HiHyperIsland! My name is Samira! Twitter: @Samajra
- 4. Growthhacking “An iterative customer acquisition and retention strategy that sits at the intersection of product development and marketing”
- 6. Traditionalmarketingvsgrowthhacking Make people want the product Traditional media such as print ads, TV and radio Conversion funnel rarely determined More structured with plans Make a product people want Gathers data, experiment and then determine Cheaper “Execute fast, fix later attitude” Marketing Product/ Tech Marketing Product/ Tech
- 8. ”GrowthhackeristhenewVPofmarketing” In 2012 Andrew Chen published a blog post emphasizing that coding and technical chops now were an essential part of being a great marketer.
- 9. Growth Hacking was coined by Sean Ellis in 2010. “A GROWTH HACKER IS A PERSON WHOSE TRUE NORTH IS GROWTH ”
- 11. Growthhacker DeveloperProduct Owner Data analyst GH How about the marketer then?
- 12. Theroledoesnotmatter! What matters is: Analytical Creative Curious = Mean Marketing Machine
- 13. The traditional marketer is best poised to become a growth hacker (compared to the general population), should they choose to, if they have a strong analytical and technical mind.
- 14. WhyaGrowthteam? ✖ They change how decisions are made ✖ Better collaboration between Marketing and Developers ✖ Focuses on improving existing funnel ✖ Back end team tend to work with ownership and delivering one service (i.e Worlds best search engine ✖ Growth team would work with making every user do more searches every day ✖ No growth team is necessary if people aren’t using your product! You need a user base.
- 15. Growthhacks ✖A/B Tests ✖Headline tests ✖Landing pages ✖Piggyback (Paypal, Airbnb) ✖Fake activity on Platform (Quora) ✖Private beta list
- 16. Examplesofgrowth ✖PS: I love you. Get your free email at Hotmail. 3,000 a day. In 6 months they reached 1 million users. 5 weeks later – 2 million users.
- 17. Examples ofgrowth ✖Dropbox went from this..
- 18. Examplesofgrowth ✖To this: Dropbox got 70,000 users overnight just by creating a demo video of the product intended for the Digg audience.
- 19. Referrals increased the sign ups on Dropbox by 60%!
- 21. PMF “Product/market fit means being in a good market with a product that can satisfy that market.” aka creating a MVP that solves a problem.
- 22. MVP A minimum viable product (MVP) is the the most pared down version of a product that can still be released. An MVP has three key characteristics: ✖It has enough value that people are willing to use it or buy it initially ✖It demonstrates enough future benefit to retain early adopters ✖It provides a feedback loop to guide future development
- 23. Makesureyou track the right things!
- 25. Examples of Metrics No one size fits all but… AARRR Customer acquisition Retention Churn Lifetime Value Return of investment Viral Coefficient Revenue and so many more….
- 28. PIRATEMETRICS THEaarrr Acquisition Users come to your site from different channels
- 30. PIRATEMETRICS THEaarrr Activation They use your product
- 32. PIRATEMETRICS THEaarrr Retention They continue to use it (yay!)
- 33. Afterafewdays… They send you a weekly digest e-mail for you take part of more information
- 34. PIRATEMETRICS THEaarrr Referral They like it enough to refer it
- 35. Youliketheproductalot! So you tweet about it to your friends!
- 36. PIRATEMETRICS THEaarrr Revenue Money, money, mooooney!
- 40. tools ✖ Google Analytics ✖ Mixpanel ✖ Optimizely – a/b-testing ✖ Colibri.io – where you customers are ✖ KissMetrics – analyze & engage ✖ Customer.io – targeted messages ✖ MailChimp ✖ HubSpot (a lot of features) Etc…
- 41. Mixpanel ✖Retention ✖Segmentation ✖Retroactive funnel analysis ✖Real-time ✖More accurate data with identifying individual users instead of cookie tracking ✖Mobile a/b-testing
- 42. Challenges ✖ Is the product ready? ✖ Using the wrong metrics (page views instead of events etc) ✖ Communication between marketing/engineering ✖ Team structure ✖ Hiring a growth hacker ✖ Data vs intuition – where do you draw the line? ✖ Budget
- 44. Exercisetime!
- 45. 7groups,30minutes: Giventhefactthatyourcompanyhas anapp,youhave thee-mail adresses ofyourconsumers,therearepush functionalities. pickacoupleofkeyperformanceindicators,orKPIs. whatgrowth hackscanyouexecuteto: Slack,trello,swish–increase transactions uber,foodora,periscope,snapchat -numberofUsers Ifyouhavethetime: Createyourgrowthhackingteam(whatresources)
- 47. Any questions?
- 48. Thanks!I’mhyped! You can find me at: @samajra Samira.mchater@gmail.com