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Ross Chayka. Growth Hacking.

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Ross Chayka. Growth Hacking.

http://lembs.com
Video - http://youtube.com/rchayka
Fb - https://www.facebook.com/rostyslav.chayka
LIn - https://www.linkedin.com/in/rchayka/

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Ross Chayka. Growth Hacking.

  1. 1. Growth Hacking Ross Chayka linkedin.com/in/rchayka fb.com/rostyslav.chayka
  2. 2. Audience ● Startup founders ● Product managers ● Entrepreneurs
  3. 3. About me ● Ross Chayka ● Lviv Startup Club - Founder & CEO ● Lemberg Tech Business School - Founder & CEO ● Associated Coach Practitioner by RCG
  4. 4. About you ● City ● Startup / Product / Service ● Growth challenge
  5. 5. Agenda ● Why 3CAC < CLV game is not productive? ● What is your product power? ● How to use your product power to grow? ● How to achieve virality? ● Growth vs Marketing vs Brand vs PR ● 5 steps to your growth model ● Q&A
  6. 6. Online master-class code of conduct ● Duration - 2 hours ● Video ON, Audio OFF ● Registration with NAME ● One person speaking ● Question in chat or raise your hand or show sign
  7. 7. TOP reasons for growth hacking ● User base flattered or decrease (Retention <= Acquisition) ● Marketing budget growth (CAC *3 > CLV) ● You lose your most valuable customers (CLV decline) ● You spend most of your time & focus on acquisition (CMO/Sale >= CEO) ● You can not stop marketing / sales
  8. 8. Growth Hacking NOT working ● You do not know your customers (personas, numbers) ● You do not know their problems (pains, motivation) ● You do not have users to experiments ● You do not want to change your product ● You do not want experiments with you business model
  9. 9. Product Growth Mantra ● Know your customers ● Know your value for them ● Build great product that people love ● Use your strength ● Experiment with your features, business models, communications channels, onboarding ● Buy virality among your customers and pay with your value
  10. 10. Famous Growth Models ● Hotmail ● Facebook ● Airbnb
  11. 11. Hotmail ● Sent with hotmail, create your own account ● Value: Convenient email client
  12. 12. Facebook ● Exclusivity ● Invite Loop ● Optimization & Measurement ● Reducing Friction ● Engage early, engage often ● Value: Recognition, Connections
  13. 13. Airbnb ● Post it on CraigList feature ● Airbnb Social Connections ● Value: cheap price, social interactions, make money
  14. 14. How to create growth model ● Identify product main value ● Identify what is more for customer in this value ● Help users get more value and achieve deep goals
  15. 15. Identify product main value ● What type of people are your customers? ● Why are they using/buying your product ?
  16. 16. What is more in your product value ● Deep goals your customers are looking for ? ● How could you close these goals with your product ?
  17. 17. Help customers get more value ● Remove bottlenecks ● Multi-level value chanking ● Business Models Experiments ● Virality ● Gamification ● Marketing cashback
  18. 18. #0. Remove bottlenecks ● UI / UX ● Missing information ● Usability
  19. 19. #1. Multi-level value chanking ● Content ● Lead Magnets ● Trials ● Freemium ● Test drives
  20. 20. #2. Business Model Experiments ● 2-side business models - customers do not understand problem-solution ● Revenue share - customers do not understand why invest ● Freemium - value for customers not clear ● Trial - customer understand value only with time
  21. 21. #3. Virality ● k = i * c ○ i = number of invites ○ C = conversion rate ● k > 1
  22. 22. #4. Gamification ● How could you catch your user attention ? ● Game as greatest value
  23. 23. #5. Marketing cashback ● Sell dollars with discounts ● Marketing price ● Time price
  24. 24. Metrics ● Retention ○ Social Media: 80% returning visitors every month ○ eCommerce: 20%-30% returning visitors every month ● North Star Metric ○ Fb: monthly active users ○ WhatsApp: Send button clicks ○ Airbnb: nights booked ● Virality
  25. 25. Brand Growth Hacking Great Product PR
  26. 26. Case studies ● Facebook ● Airbnb
  27. 27. Facebook ● December 2006: 12m ● April 2007: 20m ● July 2007: 30m ● October 2007: 50m
  28. 28. Questions ?
  29. 29. Feedback ● What do you understand? ● What would you like to get more ? ● Public feedback: ○ Name, Position ○ 3-4 sentences feedback ○ link to photo
  30. 30. Next masterclass: Startup Fundraising ● Bring 2 friend to next master class ● What do you want to get: ○ Full list of active UA angel investors ○ Pitch deck templates ○ SAFE template ○ Full list of startup incubators
  31. 31. Contacts linkedin.com/in/rchayka fb.com/rostyslav.chayka rchayka@gmail.com

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