At one point PayPal was not a default payment option on Ebay. In fact, PayPal was actually quite hard to use as a seller. However, the team at PayPal noticed that this wasn’t stopping select eBay sellers from trying to make it work all on their own.eBay sellers were doing everything from writing text in their listings asking people to “please pay me with PayPal” to copying the PayPal logo using custom HTML to add it to their listings. The initial reaction of PayPal executives was to stop this practice because PayPal sellers weren’t their target market. However, with some smart thinking the team realized that this might just be a big market for them to explore.The team at PayPal did a test and made it possible to automatically add a PayPal button to each eBay listing. By watching what their existing customers were doing they were able to quickly hack their growth. PayPal quickly became included in the vast majority of eBay listings but this wouldn’t have been possible if people hadn’t observed the trend and hacked it first.
When I joined Twitter, we had an interesting puzzle. Many many users were hearing about Twitter each day from press, blogs, their friends and were signing up. But none of them stuck around. Typical marketing efforts in the past would have been to use email newsletters to bring users back, or spend money on display retargeting. But instead we invested in the product. We dug in and tried to learn what the "aha" moment was for a new user and then rebuilt our entire new user experience to engineer that more quickly. It turned out that if you manually selected and followed at least 5-10 Twitter accounts in your first day on Twitter, you were much more likely to become a long term user, since you had chosen things that interested you. And if we helped someone you know follow you back, then even better. As we kept tweaking the features to focus on helping users achieve these things, our retention dramatically rose.
Transcript of "Intro to Growth hacking"
I’ve got a product idea, now what?Ryan LouFounder, KrawstTweet: @RyanLou
• Global network of people• Scalable ideas• Founders need to be skilledUS$40k Grant, No Equity.
“Bringing the startupcommunity together offline,getting user feedback andgenerating buzz are exactlywhat NY’s tech communityneeds to do so it can continueto grow and thrive. ”~ Harrison WeberTNW editor, New York office
“There is no betterfeedback in the worldthan hearing right fromyour target”Jared O’TooleUnder30ceo NYC editor
Startup people have an obssession withhockey sticks
“Nothing works better than improvingyour product.”— Joel Spolsky, Stack Exchange
First things FirstGlobally 923 MILLION peoplesearch the term “Google” onGoogle each month
First things FirstGlobally 923 MILLION peoplesearch the term “Google” onGoogle each monthWhat happens when they search for you?
3 things you need to focus on1) Getting people to the door2) Getting them to the AHA moment!3) Delivering product valueCredit: Chamath Palihapitiya
Another 3 things you should know• Of course people have problems(problem hypothesis)• Sure, everyone will use it(customer hypothesis)• I’m smart, my product is exactly what theworld needs(product validation)
How Brand Yourself accidentally went viralwith one feature
How Brand Yourself accidentally went viralwith one feature• Picked up by Mashable (14k shares)• Total 60K signups• Conversion on homepage optimized (From 8%- 30%)• Proactively pitched mediaRead: http://www.growhack.com/2012/10/17/how-brandyourself-unexpectedly-got-60k-users-in-60-hours/
Anatomy of a site designSource: http://blog.kissmetrics.com/landing-page-design-infographic/?wide=1
TEST TEST TESTSource: Designing for social traction http://www.slideshare.net/bokardo/designing-for-social-traction?from_search=4
Tips for pitching the press1) Pick the right publication2) Pitch only 1 feature3) Focus the story on specificshttp://www.growhack.com/2012/10/17/how-brandyourself-unexpectedly-got-60k-users-in-60-hours/
6 Steps to growth• 1. Track: Figure out what needs to be tracked. Track it.• 2. Understand: Delve into the data to understand how people are using theproduct.• 3. Prioritize: Evaluate and prioritize the areas most likely to yield growth.Sometimes they’ll be tweaks, sometimes they’ll be re-architected features,sometimes they’ll be completely new features.• 4. Design/Write: In the top area or two, design a few features that are likely toyield growth. I emphasize writing because the words describing a product oftenmatter at least as much as any other characteristics.• 5. Build: Code it up, push it out.• 6. Measure: Gauge success of new features. GOTO 1, 2, or 3, adjusting strategybased on the results.• Then every week or two, we’d run through steps 2-6: finding a problem area,brainstorming and designing possible improvements, building, and measuring theresultsFrom: http://numeratechoir.com/six-steps-to-growth-what-i-learned-as-500-startups-growth-hacker-in-residence/