Try a Little Growth Hacking

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Try a Little Growth Hacking

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A simple introduction to the emerging mindset of Growth Hacking - A more creative and effectual way to do revenue driving, Web traffic generation.

A simple introduction to the emerging mindset of Growth Hacking - A more creative and effectual way to do revenue driving, Web traffic generation.

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  • 1. bill@kaleidico.com
  • 2. Assumptions that will kill your business • Growth isn’t important • I have enough customers • My product is done (perfected) • Referrals will sustain any business
  • 3. All businesses have a natural decay rate
  • 4. Sustained growth is the only defensible competitive strategy.
  • 5. Growth Hacking: Energizing your marketing with an insatiable intensity for growth--traffic, users, and revenue.
  • 6. Objective: Create a sustainable business with sufficient users to confidently maintain product to market fit.
  • 7. 3 Growth Levers 1. Product 2. Traffic 3. User Intent
  • 8. The first number is probably overwhelming
  • 9. • No lead capture mechanism (don’t laugh - it’s the most common problem) • No incentive or value proposition • Asking for too much information COMMON LEAD ACQUISITION PROBLEMS
  • 10. • Nothing to buy (don’t laugh - see #1 problem in lead acquisition) • Forget to tell leads what to do next. Be VERY direct. • Path to first Aha! is to complex or takes too long. Develop for instant Wow. COMMON CUSTOMER ACQUISITION PROBLEMS
  • 11. • Most Products Suck (especially at first) • You’re not talking to users - ALL the time • Product is missing viral loops - features that generate referral sign-ups • Product is missing features that drive up DAU/MAU (Daily Active Users/Monthly Active Users) ratio COMMON PRODUCT PROBLEMS
  • 12. • Retention rate • DAU/MAU • Survey (do you deliver an Aha! moment?) IS YOUR PRODUCT WORKING, FOR GROWTH?
  • 13. TRAFFIC, LOTS OF TRAFFIC
  • 14. Get (economically) efficient traffic... And lots of it!
  • 15. SYSTEMATICALLY HARVEST CHANNELS ALREADY HOSTING YOUR TARGET CUSTOMERS
  • 16. Facebook Google AdWords Hacker News YouTube Email POPULAR CHANNELS FOR SPAWNING VIRAL TRAFFIC
  • 17. What Do Consumers Want?
  • 18. • Customer development...before the build • Follow a leader to learn. Build something that already works, with a distinct differentiator • Let customer data inform your product and marketing tactics
  • 19. TALK TO USERS... ALL THE TIME • Survey • Beta test • Loyalty groups • Social media • Face-to-face
  • 20. VIRAL LOOPS Users gain value by pulling others into the product Linkedin - closer to access Dropbox - more storage space Farmville - faster rewards
  • 21. VIRAL LOOP STRATEGIES Margin Viral Loop - User gives something to a friend that only cost the company a fraction of it’s face value. (e.g., Dropbox) Savings Viral Loop - User and friend both get a coupon. Only a fraction redeem - % breakage rate. (e.g., Zappos) Goal Viral Loop - User has a goal (friends participate together, a social cause) encouraging them to share. (e.g., Living Social, $1 goes to...)
  • 22. Growth Hacking Product - MVP is good enough - maybe too much Traffic - Tap into existing distribution networks Customer - Always Be Talking to Users Viral Loops - Build it into the product
  • 23. Talk More About Growth Hacking Bill Rice bill.rice@kaleidico.com @billrice Kaleidico www.Kaleidico.com @kaleidico