Growth Hacking

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  • 1. Growth Hacking
2. PS: I love you. Get your freee-mail at ??? 3. In 1996 co-workers Sabeer Bhatia andJack Smith planned to start JavaSoft 4. They were afraidtheir boss mightread their emails 5. They were afraidtheir boss mightread their emailsSo they built a web-basedemail system 6. ...and so was born 7. They raised$300,000 frominvestors 8. But Hotmail’s launch wasunimpressiveJuly August 9. Their growth strategy was to buy billboardsand radio ads 10. But investor Timothy Draperhad a better idea 11. Put ‘PS: I love you. Get yourfree e-mail at Hotmail’ at thebottom of each e-mail. 12. Within hours, Hotmail’s growthtook the shape of a classicJuly Septemberhockey stick curve 13. They started averaging 3,000July Septembernew users a day 14. Within 6 months, they were upto 1 million usersJuly September November 15. Five weeks later, they hit the 2million user markJuly September November January 16. In one case, Bhatia sent anemail to a friend in India 17. In one case, Bhatia sent anemail to a friend in Indiawithin 3 weeks Hotmailhad 300,000 users there 18. When they sold to Microsoft 1.5 years afterlaunch, Hotmail had 12 million usersJuly September November January March May July September November 19. When they sold to Microsoft 1.5 years afterlaunch, Hotmail had 12 million users(There were only 70 millioninternet users at the time)July September November January March May July September November 20. This story is not an anomaly 21. Why did thesecompanies succeedwhen everyone elsefailed? 22. What we’re going to cover todayWhat Is Growth Hacking?Growth Hacking Best Practices 23. Most startups find themselves facing thesame problem 24. They build a product that no one ends up using 25. Say your startup hasan idea 26. You assemble a teamand start building 27. Six months later, you have aproduct you're happy releasing 28. When that day finally comes,you launch and… 29. When that day finally comes,you launch and…nothing happens. 30. You get a writeup on TechCrunchand several thousand users 31. You get a writeup on TechCrunchand several thousand users(But most of them stop using it after a few days) 32. Nothing like the tremendousviral growth you wereanticipatingJuly September November January March May July September November 33. What do you do? 34. You’re in the trough of sorrow, my friendTechCrunchof InitiationWearing Offof NoveltyTrough ofSorrowReleases ofImprovementWiggles ofFalse HopeThe PromisedLand!Crash ofIneptitude 35. Continuing to ship new featuresis the worst thing you can do 36. It compounds what the realproblem was in the first place, whichis that you don't know what's wrong 37. Enter the growth hacker 38. WTF isGrowthHacking? 39. Growth hacking is a set oftactics and best practices fordealing with user growth 40. Growth hacking is a set oftactics and best practices fordealing with user growthHow do I get more users? 41. How do I increase the lifetime value of a user?How do I get more of my users to be active?What is our AHA moment?Growth hacking is a set oftactics and best practices fordealing with user growthHow do I reduce churn?How do I get more users?How do I measure the effectiveness of new features? 42. Viral growth 43. Viral growthLanding page optimizationLanding page optimizationSEOProduct managementEmail marketingAnalyticsOnboardingUXPR Behavioral economics 44. Most companies onlytrack three thingsTrafficUsersRevenue 45. Phase 1 Phase 2 Phase 3 Phase 4 Phase 5Gettraffic ? Getusers ? Profit 46. Those metricsaren’t very helpful 47. Those metricsaren’t very helpful(The magic is what happens in between) 48. The key is to map out the userlifecycle for your product 49. ACQUISITIONACTIVATIONRETENTIONREFERRALREVENUEThe lean marketing framework 50. SEOPRSEMViralPartnershipsEmail Blogs Contests 51. PartnershipsACQUISITIONSEOPRSEMViralEmail Blogs Contests 52. PartnershipsAcquisition = getting peopleto come to your siteACQUISITIONSEOPRSEMViralEmail Blogs Contests 53. PartnershipsACQUISITIONACTIVATIONSEOPRSEMViralEmail Blogs Contests 54. PartnershipsACQUISITIONACTIVATIONActivation = getting people to sign up foranything that could lead to a repeat visitSEOPRSEMViralEmail Blogs Contests 55. PartnershipsACQUISITIONACTIVATIONRETENTIONSEOPRSEMViralEmail Blogs Contests 56. PartnershipsRetention = getting usersto become activeACQUISITIONACTIVATIONRETENTIONSEOPRSEMViralEmail Blogs Contests 57. PartnershipsACQUISITIONACTIVATIONRETENTIONREVENUESEOPRSEMViralEmail Blogs Contests 58. PartnershipsACQUISITIONACTIVATIONRETENTIONREVENUERevenue = monetizing active usersSEOPRSEMViralEmail Blogs Contests 59. PartnershipsREFERRALACQUISITIONACTIVATIONRETENTIONREVENUESEOPRSEMViralEmail Blogs Contests 60. PartnershipsREFERRALReferral = getting activeusers to refer othersACQUISITIONACTIVATIONRETENTIONREVENUESEOPRSEMViralEmail Blogs Contests 61. The lean marketing frameworkPartnershipsREFERRALACQUISITIONACTIVATIONRETENTIONREVENUESEOPRSEMViralEmail Blogs Contests 62. Let’s see it inaction 63. You hear about Quora afteryour friend posts a questionAcquisition from Quora to Twitter 64. After reading the pageyou decide to create anaccountAcquisitionActivation 65. ...a few days go byAcquisitionActivation 66. You get a weekly digestemail with questions andlinks back to the siteAcquisitionActivationRetention 67. Once you’re back, Quoraencourages you to readrelated questionsAcquisitionActivationRetention 68. And share interestingquestions throughTwitter and FacebookAcquisitionActivationRetentionReferral 69. Quora doesn’tcurrently make moneyAcquisitionActivationRetentionReferralRevenue 70. Each step of the LMFcorresponds to a user state 71. The growth hacker’s job is to figure out howto move users from one state to the next???Creates an account Visits again later 72. You need to measure conversions at each step10% 30% 30%52 17 1741744Acquisition Activation Retention Revenue 73. Mixpanel and KISSmetrics are great for analytics 74. plug-and-play 75. Dave McClure’s example conversion metrics 76. At first your numbers will be really shitty1% 18% 0%17 3 01744Acquisition Activation Retention Revenue 77. At first your numbers will be really shittyFocus here1% 18% 0%17 3 01744Acquisition Activation Retention Revenue 78. At first your numbers will be really shitty10% 174 10% 0%17 01744Acquisition Activation Retention Revenue 79. Don’t focus onacquisition if youractivation rate is 1% 80. Growth hackers havedeveloped tactics foroptimizing the funnel 81. Measure the quality of traffic sources 82. Minimal landing pages to convert better 83. Onboarding to improve activation and retention 84. Get people to come back using email 85. Incentivization to get people to share 86. Identify companies that focus onoptimizing and try to learn from them 87. Testing 88. Unbounce is an amazing tool for easilycreating and testing landing pages 89. Optimizely is a great tool ifyou already have a site 90. Measure the lifetime effect of a change10% 30% 30%52 17 1741744Acquisition Activation Retention RevenueVersion A 1744 (100%) 174 (10%) 52 (30%) 17 (30%)Version B 1670 (100%) 100 (6%) 60 (60%) 18 (30%) 91. Notable Growth Hacks 92. Acquisition:BrandYourself kepttheir Mashable articletrending for 2 daysby promoting it onStumbleUpon 93. Activation:OKCupid has a “tourguide” that interactswith you during thesignup process 94. Activation:Groupon has twodifferent pages forGoogle vs. Directtraffic(Footers are good for SEO butreduce conversions) 95. Activation:Path texts the app toyour phone 96. Activation:Dropbox sends anemail when a usersigns up but neverinstalls the software 97. Retention:Eventbrite sendsemails if you’ve beeninactive for too long 98. Retention:Path has your friendsdo it instead! 99. Retention:Path has your friendsdo it instead!(Can have a 10x higherconversion rate) 100. Referral:Facebook integrationmakes it really easyto get people toshare 101. Referral:Dropbox,LivingSocial, andAppsumo knowincentivizationworks well too 102. Referral:Quora forces peopleto sign up before theycan read answers 103. Growth HackingResources 104. Watch Dave McClure’sStartup Metrics forPirates 105. Quora has boards on GrowthHacks and Growth Hacking 106. Andrew Chen hasposted a list of notablegrowth hackers: 107. Thank you.Francisco Tomé Costahttp://franciscocosta.commail@franciscocosta.com@franciscocosta
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Growth Hacking Seminar in ISCAP (19-10-2014) Credits http://www.slideshare.net/mattangriffel