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08 22-growthhackingforstartups-120822100602-phpapp01 08 22-growthhackingforstartups-120822100602-phpapp01 Presentation Transcript

  • Growth Hacking Lean Marketing for Startups
  • How to get free traffic to your website
  • Put content up on Slideshare
  • Answer questions on Quora
  • Answer questions on Quora
  • Edit Wikipedia
  • Cheat your way onto the Hacker News homepage
  • Cheat your way onto the Hacker News homepage
  • Start a Meetup
  • Post on Craiglist
  • Teach on Skillshare and at General Assembly
  • Get on email newsletters (submit here and here)
  • Go to events
  • Update your email signature
  • Dave McClure’s Marketing Channels
  • But none of that really matters...
  • “ PS: I love you. Get your free e-mail at ??? ”
  • In 1996 co-workers Sabeer Bhatia and Jack Smith planned to start JavaSoft
  • They were afraid their boss might read their emails
  • They were afraid their boss might read their emails So they built a webbased email system
  • ...and so was born
  • They raised $300,000 from investors
  • But Hotmail’s launch was unimpressive July August
  • Their growth strategy was to buy billboards and radio ads
  • But investor Timothy Draper had a better idea
  • “ Put ‘PS: I love you. Get your free e-mail at Hotmail’ at the bottom of each e-mail. ”
  • Within hours, Hotmail’s growth took the shape of a classic hockey stick curve July September
  • They started averaging 3,000 new users a day July September
  • Within 6 months, they were up to 1 million users July September November
  • Five weeks later, they hit the 2 million user mark July September November January
  • In one case, Bhatia sent an email to a friend in India
  • In one case, Bhatia sent an email to a friend in India within 3 weeks Hotmail had 300,000 users there
  • When they sold to Microsoft 1.5 years after launch, Hotmail had 12 million users July September November January March May July September November
  • When they sold to Microsoft 1.5 years after launch, Hotmail had 12 million users (There were only 70 million internet users at the time) July September November January March May July September November
  • This story is not an anomaly
  • Why did these companies succeed when everyone else failed?
  • E TH BS I run the world’s first growth hacking agency based out of New York City and have helped launch dozens of different products. I've also spoken at various industry events – including at Bloomberg, Internet Week, and Social Media Week – and have been featured in Forbes, BusinessWeek, Mashable and The Next Web. ONT L A Mattan Griffel Founder & CEO, The Front Labs Partner, Grow/Hack FR
  • What we’re going to cover today What Is Growth Hacking? The Science of Growth Hacking Notable Growth Hacks
  • This is adapted from posts by Dave McClure, Andrew Chen, Noah Kagan and others, as well as from my own experience
  • Most startups find themselves facing the same problem
  • They build a product that no one ends up using
  • Say your startup has an idea
  • You assemble a team and start building
  • Six months later, you have a product you're happy releasing
  • When that day finally comes, you launch and…
  • When that day finally comes, you launch and… nothing happens.
  • You get a writeup on TechCrunch and several thousand users
  • You get a writeup on TechCrunch and several thousand users (But most of them stop using it after a few days)
  • Nothing like the tremendous viral growth you were anticipating July September November January March May July September November
  • What do you do?
  • You’re in the trough of sorrow, my friend Wearing Off TechCrunch of Novelty of Initiation Wiggles of The Promised False Hope Land! Trough of Sorrow Releases of Crash of Improvement Ineptitude
  • Continuing to ship new features is the worst thing you can do
  • It compounds what the real problem was in the first place, which is that you don't know what's wrong
  • Enter the growth hacker
  • What the fuck is Growth Hacking ?
  • Growth hacking is a set of tactics and best practices for dealing with the problem of user growth
  • Viral growth
  • Viral growth Landing page optimization SEO Product management Analytics Email marketing PR Onboarding UX Behavioral economics
  • Traffic Most companies only track three things Users Revenue
  • Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Get traffic ? Get users ? Profit
  • Those metrics aren’t very helpful
  • Those metrics aren’t very helpful (The magic is what happens in between)
  • The key is to map out the user lifecycle for your product
  • SEO Email Viral PR SEM Blogs Partnerships Contests
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION Acquisition = getting people to come to your site
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION Activation = getting people to sign up for anything that could lead to a repeat visit
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION RETENTION
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION RETENTION Retention = getting users to become active
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION RETENTION REVENUE
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION RETENTION REVENUE Revenue = monetizing active users
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION REFERRAL RETENTION REVENUE
  • SEO Email Viral PR SEM Blogs Partnerships Contests ACQUISITION ACTIVATION REFERRAL RETENTION REVENUE Referral = getting active users to refer others
  • The lean marketing funnel ACQUISITION ACTIVATION REFERRAL RETENTION REVENUE
  • (It kind of looks like a teacup)
  • Let’s see it in action
  • Acquisition You hear about Quora after your friend posts a question from Quora to Twitter
  • After reading the page you decide to create an account Acquisition Activation
  • Acquisition Activation ...a few days go by
  • You get a weekly digest email with questions and links back to the site Acquisition Activation Retention
  • Once you’re back, Quora encourages you to read related questions Acquisition Activation Retention
  • And share interesting questions through Twitter and Facebook Acquisition Activation Retention Referral
  • Quora doesn’t currently make money Acquisition Activation Retention Revenue Referral
  • Each step of the LMF corresponds to a user state
  • The growth hacker’s job is to figure out how to move users from one state to the next ??? Creates an account Visits again later
  • You need to measure conversions at each step 1744 10% Acquisition 174 Activation 30% 30% 52 17 Retention Revenue
  • Dave McClure’s example conversion metrics
  • Mixpanel and KISSmetrics are great for analytics
  • At first your numbers will be really shitty 1744 1% 18% 0% 17 Acquisition 3 0 Activation Retention Revenue
  • At first your numbers will be really shitty 1744 Focus here 1% 18% 0% 17 Acquisition 3 0 Activation Retention Revenue
  • At first your numbers will be really shitty 1744 10% Acquisition 174 Activation 10% 0% 17 0 Retention Revenue
  • Don’t focus on acquisition if your activation rate is 1%
  • Growth hackers have developed tactics for optimizing the funnel
  • Measure the quality of traffic sources
  • Design landing pages to convert better
  • Tweak onboarding to improve activation and retention
  • Get people to come back using email
  • Social integration to get people to share
  • Identify companies that focus on optimizing and try to learn from them
  • Not every growth hack will work for your company
  • How do you run a proper experiment?
  • Divide users into a control and a test group
  • Divide users into a control and a test group Control Test
  • Control Test Run your change on the test group and measure the difference between the two groups
  • This is often called an A/B test
  • Growth hackers experiment a lot
  • Highrise wanted to test out different homepages to see if they could increase account signups
  • So they created a “long-form sales letter” page
  • Homepage traffic And ran an A/B test Original Design Long-form Design
  • Can you guess the results? Original Design Long-form Design
  • The long-form design saw a 37.5% increase in account signups Original Design Long-form Design 37.5%
  • Then they created a personal testimonial page
  • And ran another A/B test Person Design Long-form Design
  • It performed even better than the longform page Person Design Long-form Design 37.5% 102.5%
  • But the person design was shorter and had much less information Person Design Long-form Design 37.5% 102.5%
  • So they added more information to the bottom
  • And ran another A/B test Person Design Long Form Person Design
  • It turned out that adding more information made it perform worse than the original design! Person Design 102.5% Long Form Person Design 22.7%
  • But that’s not where testing ends...
  • Unbounce is an amazing tool for easily creating and testing landing pages Use promo code mattanfree3 for 3 months free
  • Testing applies to product features too
  • Vanity and A/Bingo are testing frameworks for Ruby on Rails
  • Measure the lifetime effect of a change 1744 10% 174 30% 30% 52 17 Acquisition Activation Retention Revenue Version A 1744 (100%) 174 (10%) 52 (30%) 17 (30%) Version B 1670 (100%) 100 (6%) 60 (60%) 18 (30%)
  • From Dave McClure’s Startup Metrics for Pirates
  • Most tests results are not as conclusive as the ones by Highrise
  • Growth hackers often need to perform 15-20 tests per week to find 1-2 improvements
  • Getting users to the AHA MOMENT
  • What’s the one core activity of your product?
  • What’s the one core activity of your product? How can you get people there as fast as possible?
  • Keep refining and iterating until you get to the problem definition that resonates with the most people, most easily, and most emotionally powerful. - Josh Elman, ex-Product Lead at Twitter
  • Our AHA moment at Twitter was ‘Once a user follows 30 people, they're more or less active forever.’ - Josh Elman, ex-Product Lead at Twitter
  • Notable Growth Hacks
  • Acquisition: Mint has a landing page or blog post for nearly every personal financerelated topic
  • Acquisition: OKCupid’s OKTrends Blog created viral stories by “trading up the chain”
  • Acquisition: BrandYourself kept their Mashable article trending for 2 days by promoting it on StumbleUpon
  • Activation: Groupon has two different pages for Google vs. Direct traffic (Footers are good for SEO but reduce conversions)
  • Activation: Path texts the app to your phone
  • Activation: OKCupid has a “tour guide” that interacts with you during the signup process
  • Activation: Dropbox sends an email when a user signs up but never installs the software
  • Retention: Eventbrite sends emails if you’ve been inactive for too long
  • Retention: Path has your friends do it instead!
  • Retention: Path has your friends do it instead! (Can have a 10x higher conversion rate)
  • Referral: Facebook integration makes it really easy to get people to share
  • Referral: Dropbox, LivingSocial, and Appsumo know incentivization works well too
  • Referral: Quora forces people to sign up before they can read answers
  • Growth Hacking Resources
  • Watch Dave McClure’s Startup Metrics for Pirates
  • Quora has boards on Growth Hacks and Growth Hacking
  • Andrew Chen has posted a list of notable growth hackers:
  • Check out our posts at growhack.com
  • If you’re around NYC check out my new meetup
  • Thank you. Get more growth hacking case studies at growhack.com/case-studies Mattan Griffel mattan@growhack.com @mattangriffel