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Growth Hacking - hipages Group Friday talk

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hipages Group VP of Product gave a Friday talk to hipages Group staff on Growth Hacking. …

hipages Group VP of Product gave a Friday talk to hipages Group staff on Growth Hacking.

The presentation covers:
- What is Growth Hacking
- Growth Hacking process
- The Growth marketing funnel
- Some Growth Hacking examples
- Distribution firehoses

hipages Group Friday talks are informal lunchtime presentations where members of our team share areas of expertise or passion with a cross functional group. Staff from all different departments attend to get an understanding of how other departments think.

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Transcript

  • 1. Frida y Ta lk Growth Ha cking - Dino Ta lic
  • 2. Outline •What is Growth Hacking •Growth Hacking process •The Growth marketing funnel •Some examples •Distribution firehoses
  • 3. Dis cla ime r Growth hacking does not: • • • • • Walk your dog Babysit your kids Run your business for you Buy you an island in the Bahamas (most of the time) It does not blend!
  • 4. Wha t is Growth Ha cking Concerned with acquisition of active users
  • 5. Wha t doe s it re a lly me a n? Story for 99% of companies: 1. They perceive a user need or gap in the market 2. Assemble a team 3. Work non-stop for 3 months and release a product Result = nobody uses it Most companies at this point begin to build additional features hoping something will stick This further obfuscates what the real problem is
  • 6. The Growth Ha cke r
  • 7. The Growth Te a m • A Growth Team has something most other teams in the company don’t: FOCUS • A Growth Team’s sole focus is moving a single metric • Ability to break down and analyse a problem space
  • 8. Growth Ha cking Ta ctics
  • 9. Mos t compa nie s ’ a pproa ch to Growth They track 3 key metrics ? Traffic ? Users Revenue
  • 10. The Growth Ha cking Approa ch Acquisition Activation Retention Revenue Referral
  • 11. The Growth Ha cking Approa ch Acquisition How users find you? Do users have a great first experience? Activation Retention Revenue Referral Do users come back? How do you make money? Do users tell others?
  • 12. The Growth Ha cking Approa ch Acquisition SEO, SEM, Widgets, Email Newsletter, Blogs, Affiliates, PR, etc. Activation Product features Retention Revenue Referral Emails, alerts/notifications, blogs Subscriptions, lead gen, etc. Social integration, campaigns, emails, widgets, etc.
  • 13. The Growth Ha cking Approa ch Source: Dave McClure – Startup Metrics for Pirates
  • 14. The Growth Ha cking P roce s s Ri pea t d Re e an ns
  • 15. The Ne w Re a lity of Online Ma rke ting “The Law of Shitty Clickthroughs“ - Andrew Chen Over time all marketing strategies result in low clickthrough rates.
  • 16. The Ne w Re a lity of Online Ma rke ting The first banner ad: •Hotwired CTR, 1994: 78% Today: •Facebook CTR, 2012: 0.05%
  • 17. The Ne w Re a lity of Online Ma rke ting
  • 18. How ca n Growth Ha cking he lp? • Growth teams build distribution into the product • Leverage mass distribution platforms • Experiment to find creative marketing and distribution channels where the competitors haven’t yet arrive
  • 19. Dis tribution P la tforms • For the first time ever, superplatforms like Facebook and Apple uniquely provide access to 10s of millions of customers • The discipline of marketing is shifting from people-centric to API-centric activities • Growth hackers embody the hybrid between marketer and coder needed to thrive in the age of platforms - Andrew Chen
  • 20. A Ca s e S tudy - AirBnB • AirBnB was building a two-sided marketplace for a user need that already has a lot of entrenched competitors: – Hilton, Sheraton, etc – Expedia, Agoda, etc – Classifieds – Relatives, friends of friends, etc • AirBnb looked at an existing competitor and turned it into a distribution platform for its own service
  • 21. A Ca s e S tudy - AirBnB
  • 22. A Ca s e S tudy - AirBnB
  • 23. Fa ce book • Point of leverage: – 7 friends – 1 photo uploaded • User engagement graph non-linear after this inflexion point • Facebook growth team spent a lot of time optimising their onboarding experience to ensure a maximum number of users reached the above goals
  • 24. Dis tribution Fire hos e s Distribution is unprecedented
  • 25. Te chnologica l a doption is a cce le ra ting % of US Households
  • 26. Not s o long a go ➔ In 1900, <10% of families owned a stove, or had access to electricity or phones ➔ ➔ ➔ ➔ ➔ ➔ In 1915, <10% In 1930, <10% In 1945, <10% In 1960, <10% In 1975, <10% In 1990, <10% ➔ Today.. more than 90% own all the above. owned a car owned a fridge or washer owned a dryer or air-conditioning owned a dishwasher or colour TV owned a microwave owned a cell phone or Internet
  • 27. Wha t doe s a ll of this me a n? Desktops, Laptops Mobile Phones, Tablets
  • 28. Adoption is a cce le ra ting
  • 29. … a nd fa s te r
  • 30. … a nd fa s te r!!!
  • 31. Parabolic growth comes from harnessing distribution fire hoses
  • 32. Apple Fire hos e
  • 33. Google Fire hos e
  • 34. Re ddit Fire hos e
  • 35. Othe r unconve ntiona l Fire hos e s
  • 36. Vira lity S ocia l Re vie ws . Frie nds . Invite rs
  • 37. Furthe r Re a ding • Mattan Griffel http://www.slideshare.net/mattangriffel/growth-hacking • Andrew Chen blog http://andrewchen.co/ • Quora http://www.quora.com/Growth-Hacking/What-is-growth-hacking

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