Growth hacking 101 - RET2082 POV
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credit goes to Mattan Griffel http://www.slideshare.net/mattangriffel/growth-hacking
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Growth hacking 101 - RET2082 POV
- 1. Growth Hacking: A Product Perspective
- 2. A little about me LIFE: 33 years young 1 wife 1 small daughter Official Star Wars Model Builder Past Skater STARTUPS: 6 founded 2 failed 1 acquired 1 still rocking 1 fundraising 10 programs’ mentor 4 advisor 1000+Pitches
- 3. What I’ve Learned • Story telling is best (not necessarily why you think) • Lowest common denominator • People expect to be somewhat entertained
- 4. This is a discussion • Ask • Ask • Ask
- 5. Most startups find themselves facing the Same ‘Duh’ phase
- 6. They build a product no one ends up using
- 8. Several K users… (but most of them use once or twice)
- 10. You’re in the ‘ok, now what?’ (‘Duh’) Phase, my friend Lean iterations Novelty wares off Ok, Now what? TechCrunch Awesomeness Crash & Burn Ripple effect Oh HELL yeah!
- 11. It goes back to the early beginning of your startup. and again, we must ask ourselves what's wrong?!? What's thee problem?
- 13. Buzzzzzzzzzzzzzzzzzz WTF is it anyways??
- 14. Growth Hacking is using a set of methods, practices and some data science to deal with user growth What is our ‘hook’ moment? How do I reduce churn? If Growth=more users and Hacking=loosely means new and clever ways to do something then:
- 15. Viral growth A/B testing SEO Product Email marketing Onboarding UX Behavioral economicsPR Analytics
- 16. Most companies measure and track 3 things TrafficTraffic Users Users Revenue Revenue
- 17. Step 1 Step 2 Step 3 People come in ? People pay
- 18. Step 1 Step 2 Step 3 Get traffic ? Step 4 Step 5 Get users ? Profit
- 19. Those metrics are were enough The magic is in between the steps
- 20. The key is to fully map your user lifecycle of your product Funneling!
- 21. The lean marketing framework: AARRR(ggg) ACQUISITION ACTIVATION RETENTION REVENUE REFERRAL
- 22. PR A/B testing SEO Partnerships Email Events Blogs Analytics Viral ACQUISITION = getting people to come to your site ACQUISITION
- 23. PR A/B testing SEO Partnerships Email Events Blogs Analytics Viral ACTIVATION = getting people to sign up. Anything for a repeat visit ACQUISITION ACTIVATION
- 24. PR A/B testing SEO Partnerships Email Events Blogs Analytics Viral RETENTION = getting users to become active ACQUISITION ACTIVATION RETENTION
- 25. PR A/B testing SEO Partnerships Email Events Blogs Analytics Viral REVENUE = monetizing active users ACQUISITION ACTIVATION RETENTION REVENUE
- 26. PR A/B testing SEO Partnerships Email Events Blogs Analytics Viral ACQUISITION REFERRAL =getting active users to get their friends sign up ACTIVATION RETENTION REVENUE REFERRAL
- 27. Each step of the framework is assigned a user state
- 28. Growth Hacking is figuring out how to change or progress user state (in the funnel) Creates account Visits again later ???
- 29. 1800 Activation Retention Revenues 10% 30% 20% Acquisition 180 54 10.4 Conversions. Measure them in each step
- 31. Dave McClure’s conversion metrics and values
- 32. 1800 Activation Retention Revenues 1% 18% 0% Acquisition 18 3 0 When you start, your numbers are going to be shitty Focus here
- 33. Don’t focus on acquisition if your activation rate is 1%
- 34. AQCUISTIONAQCUISTION: get trended on Product Hunt. Use your network
- 35. ACTIVATIONACTIVATION: Okcupid.com employs a virtual assistance to help you set up. And are funny.
- 36. REFERALREFERAL: FB, Twitter, Li, etc. Are naturally an easy way to refer more friends / followers
- 37. REFERALREFERAL: Quora forces you to sign up before you can read answers (and share)
- 38. REFERALREFERAL: Incentivized! Dropbox, AppSumo and LivingSocial know very well how good incentives works
- 39. RETENTIONRETENTION: Path has your friends do it for you
- 40. RETENTIONRETENTION: Eventbrite sends you email if you’ve been inactive for some time
- 41. ACTIVATIONACTIVATION: Dropbox send an email when a user signed-‐up but hasn’t installed the software
- 42. Now back to Product…Now back to Product…
- 43. ACQUISITION ACTIVATION RETENTION REVENUE REFERRAL
- 44. Thanks for sticking outThanks for sticking out
- 45. Thanks for sticking out J Thanks for sticking out J