Growth Hacking - what is it?

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Slides about growth hacking and why it is important to get familiar with it.

Slides about growth hacking and why it is important to get familiar with it.

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  • 1. WHAT IS GROWTH HACKING & why do you need it?
  • 2. WHAT IS GROWTH HACKING & why do you need it? » GROWTH HACKING IS... a combination of marketing and programming, creativity and analysis. Set of hacks - tactics and best practices for user growth, that result from new, blanket approach to the product, its adoption & distribution. 2
  • 3. WHAT IS GROWTH HACKING & why do you need it? » WHY GROWTH HACKING? Due to the growth of internet as a new medium, the product and its spreading was redefined. Product is no longer only physical goods, software is a product too. Great product is not enough. Distribution is equally important . New kind of product needs new kind of thinking about it, and that’s a job for growth hacker. 3
  • 4. WHAT IS GROWTH HACKING 4 & why do you need it? AQUISITION ACTIVATION RETENTION REVENUE REFERRAL
  • 5. WHAT IS GROWTH HACKING 5 & why do you need it? » GROWTH HACKING FUNNEL Acquisition - understanding the flow of online users and using this knowledge to increase traffic on your website. - Blogging & Guest-Blogging - eBooks - Webinars - Social Media - SEM AQUISITION ACTIVATION RETENTION REVENUE REFERRAL
  • 6. WHAT IS GROWTH HACKING 6 & why do you need it? » GROWTH HACKING FUNNEL Activation - analyzing and continuously improving certain elements of the website in order to make user experience better, lead visitors to sign up and repeat the visit. - A/B testing - Landing Page Optimatization - Onboarding - Copywriting AQUISITION ACTIVATION RETENTION REVENUE REFERRAL
  • 7. WHAT IS GROWTH HACKING 7 & why do you need it? » GROWTH HACKING FUNNEL Retention - keeping users active and getting them to use the product on a daily basis and return to the website. - Email Marketing - Remarketing - Direct contact - Aha moments AQUISITION ACTIVATION RETENTION REVENUE REFERRAL
  • 8. WHAT IS GROWTH HACKING 8 & why do you need it? » GROWTH HACKING FUNNEL Revenue - turning active users into paying customers that bring revenue by using paid versions of the product - Subscriptions - Pricing models - Lead generation ! AQUISITION ACTIVATION RETENTION REVENUE REFERRAL
  • 9. WHAT IS GROWTH HACKING 9 & why do you need it? » GROWTH HACKING FUNNEL Referral - making happy users share and invite their friends to improve their own experience - Built-in sharing - API integrations - Contests - Gamification ! AQUISITION ACTIVATION RETENTION REVENUE REFERRAL
  • 10. WHAT IS GROWTH HACKING 10 & why do you need it? » HOW IS IT DONE? Repeat analytics Implement general and people/event based analytics to learn what people are looking for on your website, & why do they leave. hypothesis Assumptions based on analytics. Is your landing page not clear enough? Is it the call to action button not inviting your user? tests optimization Knowing what is wrong, you can design tests showing what option is more encouraging for your users. A/B tests will show you what your clients prefer. You know which landing page has more signups? Time to get rid of the one that isn’t working, along with other elements that are not good for your revenue.
  • 11. WHAT IS GROWTH HACKING & why do you need it? » EXAMPLES OF GROWTH HACKING Twitter had many sign-ups but visitors didn’t come back after creating an account. Twitter team used data from analyzing the most engaged users, to find out what is the cause of low retention. Figuring that people who follow 5-10 accounts on their first day are more likely to become active users. Using this knowledge, Twitter added features like suggesting accounts to add after creating account, causing the increase of active users. ! 11
  • 12. WHAT IS GROWTH HACKING & why do you need it? » EXAMPLES OF GROWTH HACKING ! PayPal team noticed they can leverage on popularity of eBay. Creating demand for the service - PayPal created a web bot that was buying random goods on eBay and later insisted on paying for it using PayPal. Sellers found out about the service and were "forced" to start using it in reaction to such demand. Later on, PayPal created a button and made a deal with eBay, that let them become the most popular online payment method. ! 12
  • 13. WHAT IS GROWTH HACKING & why do you need it? » WHY DO YOU NEED GROWTH HACKERS? Growth hacking is focusing on growth, which in early stages is critical for every business The nature of internet products has caused a new way to think about growth. Traditional marketing is not enough. Getting visitors on your website is just a first step. If you don’t want to waste money on worthless acquisition, you need to understand the whole funnel flow. Because if you don’t scale, you will go extinct. ! 13
  • 14. WHAT IS GROWTH HACKING & why do you need it? » THANK YOU Follow @growthrepublic on twitter to find out some more about growth hacking 14