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Growth Hacking Fundamentals @ Echelon Jakarta (by Growth Hacking Asia)

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Growth Hacking Asia's presentation about the basics of growth hacking at Echelon Jakarta.

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Growth Hacking Fundamentals @ Echelon Jakarta (by Growth Hacking Asia)

  1. 1. Growth Hacking Fundamentals Anna Rehermann anna@growthhackingasia.com
  2. 2. AGENDA 1. What is Growth Hacking? a. Growth Hacking Misconceptions b. Growth Hacking - The Real Deal 2. When to Growth Hack? 3. Examples of Growth Drivers 4. How to get started with the Growth Hacking Process?
  3. 3. 1 WHAT IS GROWTH HACKING?
  4. 4. THE ORIGINS
  5. 5. GROWTH HACKING MISCONCEPTIONS & THE REAL DEAL Misconceptions: ● Growth Hacking = Digital Marketing ● Copying “Growth Hacks” Works ● Growth Hacking Is About Tactics - Finding a Silver Bullet ● Growth Hacking = User Acquisition What It Really Is: ● Product as Growth Driver ● Experimentation & Rapid Testing ● Process Driven Approach
  6. 6. GROWTH HACKING = DIGITAL MARKETING?
  7. 7. GROWTH HACKING MISCONCEPTIONS
  8. 8. “How this startup grew from 250 to 5,000 users in 24 hours with this simple growth hack” Some of the top posts in growthhackers.com: ● How we Figured Out What Makes People Love Ghost 1,000% More ● 15 Twitter Hacks That Will Turn You Into a Twitter Ninja ● 10 Brilliant Marketing Stunts That Put Startups On The Map Read ● The 3 hacks that got SpringSled 138,790 users in less than 40 days ● How to Gather 100,000 Emails in One Week (Includes Successful Templates, Code, Everything You Need) GROWTH HACKING MISCONCEPTIONS
  9. 9. On GrowthHackers.com, categories include… GROWTH HACKING MISCONCEPTIONS
  10. 10. ABOUT COPYING “GROWTH HACKS”...
  11. 11. “Growth Hacks” can’t be duplicated, there are too many variables: ● Different audiences ● Different contexts ● Different products ● Different user experiences ● Different motivations ● Different times ● Etc. COPYING GROWTH HACKS
  12. 12. COPYING GROWTH HACKS
  13. 13. COPYING GROWTH HACKS
  14. 14. Don’t blindly copy things - do what works best for you COPYING GROWTH HACKS
  15. 15. ABOUT SILVER BULLETS...
  16. 16. SILVER BULLETS? ?
  17. 17. THE GROWTH HACKING FUNNEL
  18. 18. Acquisition = getting people to come to your site THE GROWTH HACKING FUNNEL
  19. 19. EXAMPLE: UBER
  20. 20. Activation = getting people to take the required action, e.g. purchase, sign up THE GROWTH HACKING FUNNEL
  21. 21. EXAMPLE: UBER
  22. 22. Retention = getting users to come back to your site THE GROWTH HACKING FUNNEL
  23. 23. EXAMPLE: UBER
  24. 24. Referral = getting active users to refer others THE GROWTH HACKING FUNNEL
  25. 25. EXAMPLE: UBER
  26. 26. EXAMPLE: UBER
  27. 27. Revenue = monetising active users THE GROWTH HACKING FUNNEL
  28. 28. EXAMPLE: UBER
  29. 29. GROWTH HACKING = USER ACQUISITION?
  30. 30. GROWTH HACKING = USER ACQUISITION?
  31. 31. Viddy is a social video application that enables its users to capture, edit, and share videos, photos, and collages with friends. EXAMPLE: VIDDY
  32. 32. EXAMPLE: VIDDY ‘The Instagram For Video’ Celebrity users like Mark Zuckerberg, Justin Bieber, Snoop Dogg, and T-Pain Funding Raised $30 million in May 2012 Valued at $370 million Investors like Twitter co-founder Biz Stone, Shakira, and Jay-Z's Roc Nation
  33. 33. EXAMPLE: VIDDY Returned $18 million of its big funding round to investors Bought out by Fullscreen
  34. 34. Optimize Optimize Optimize Optimize Optimize GROWTH HACKING = USER ACQUISITION?
  35. 35. PRODUCT AS GROWTH DRIVER
  36. 36. YOU + CUSTOMER
  37. 37. The Aha! moment Many leading tech companies have promoted “aha moments”—the instant a user understands the value of their product—as a key to growth. Credit: Chamath Palihapitiya and Facebook’s “aha moment”
  38. 38. → Facebook’s ”5 friends in 10 days” insight PRODUCT AS GROWTH DRIVER
  39. 39. PRODUCT AS GROWTH DRIVER → Twitter’s ”follow 30 people” insight
  40. 40. RAPID EXPERIMENTATION PROCESS
  41. 41. HIGH TEMPO TESTING → Growthhackers.com grew from 90,000 MAU to 152,000 MAU in eleven weeks without spending a dollar on advertising or increasing the size of their growth team HOW? ● Including all stakeholders (interns, community members, developers, growth team, etc.) in ideation brainstorming ● Kicking off 3 experiments per week EXPERIMENTATION AND RAPID TESTING
  42. 42. Brainstorm Prioritize Develop Hypotheses Test & Analyse Systemize/ Iterate EXPERIMENTATION PROCESS
  43. 43. WHEN TO GROWTH HACK? 2
  44. 44. GROWTH STAGES Problem-Solution Fit Product-Market Fit ScaleGrowth
  45. 45. GROWTH STAGES Problem-Solution Fit Product-Market Fit ScaleGrowth Focus: Validated Learning Experiments: Pivots Terrain: Qualitative Focus: Growth Experiments: Optimisations Terrain: Quantitative
  46. 46. GROWTH STAGES - PRODUCT MARKET FIT
  47. 47. GROWTH STAGES - PRODUCT MARKET FIT
  48. 48. GROWTH STAGES - PRODUCT MARKET FIT
  49. 49. How would you feel if you could no longer use my product? XX GROWTH STAGES - PRODUCT MARKET FIT
  50. 50. GROWTH STAGES - PRODUCT MARKET FIT
  51. 51. EXAMPLES OF GROWTH DRIVERS 3
  52. 52. GROWTH STAGES - GROWTH Problem-Solution Fit Product-Market Fit ScaleGrowth ● Identify repeatable, scalable user acquisition channels ● Identify your must-have user experience and maximise % of users that gets there ● Develop viral loops ● Set up retention mechanics ● Focus on 1 metric and optimise 1 stage of the funnel at a time
  53. 53. 1) User Acquisition ○ Platform Integrations ○ Embeds ○ Powered by ○ Free Tools ○ SEO (Landing Pages) ○ Affiliate Programs and Partnerships 2) Activation ○ Data Driven Growth 3) Referral ● Virality 4) Retention ● Community GROWTH DRIVERS
  54. 54. USER ACQUISITION Platform Integrations
  55. 55. PLATFORM INTEGRATIONS
  56. 56. PLATFORM INTEGRATIONS
  57. 57. PLATFORM INTEGRATIONS
  58. 58. PLATFORM INTEGRATIONS
  59. 59. PLATFORM INTEGRATIONS
  60. 60. USER ACQUISITION Embeds
  61. 61. EMBEDS
  62. 62. USER ACQUISITION Powered by
  63. 63. POWERED BY
  64. 64. USER ACQUISITION Free Tools
  65. 65. FREE TOOLS
  66. 66. FREE TOOLS
  67. 67. USER ACQUISITION SEO (Landing Pages)
  68. 68. SourceL http://blog.hubspot.com/blog/tabid/6307/bid/33756/Why-You-Yes-You-Need-to-Create-More-Landing-Pages.aspx Companies with 10+ landing pages get 55% more signups
  69. 69. Each page should be 90% unique: •Different offers •Different customer segments •Different unique selling points
  70. 70. USER ACQUISITION Affiliate Programs & Partnerships
  71. 71. AFFILIATE PROGRAMS & PARTNERSHIPS
  72. 72. AFFILIATE PROGRAMS & PARTNERSHIPS
  73. 73. AFFILIATE PROGRAMS & PARTNERSHIPS
  74. 74. AFFILIATE PROGRAMS & PARTNERSHIPS
  75. 75. ACTIVATION Data Driven Growth
  76. 76. DATA DRIVEN GROWTH
  77. 77. DATA DRIVEN GROWTH
  78. 78. DATA DRIVEN GROWTH ChenLi Wang, who runs growth at Dropbox, has noted that the best indicator of whether someone will continue using Dropbox is when they put at least one file in one Dropbox folder.
  79. 79. DATA DRIVEN GROWTH
  80. 80. REFERRAL / USER ACQUISITION Virality
  81. 81. VIRALITY
  82. 82. VIRALITY
  83. 83. VIRALITY
  84. 84. RETENTION Community
  85. 85. COMMUNITY
  86. 86. 90
  87. 87. 91
  88. 88. HOW TO GET STARTED WITH THE GROWTH HACKING PROCESS? 4
  89. 89. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve and develop OKRs Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  90. 90. EXPERIMENTATION PROCESS Example: Hello Bar
  91. 91. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  92. 92. FOUNDATION 1: IDENTIFY METRIC TO IMPROVE Example: Hello Bar Funnel → Low installation rate
  93. 93. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  94. 94. FOUNDATION 2: COLLECT DATA Example: Hello Bar Identify the Problem - Why don’t people install?
  95. 95. FOUNDATION 2: COLLECT DATA Example: Hello Bar Identify the Problem - Why don’t people install?
  96. 96. Example: Hello Bar Identify the Problem - Why don’t people install? FOUNDATION 2: COLLECT DATA
  97. 97. Example: Hello Bar Identify the Problem - Why don’t people install? FOUNDATION 2: COLLECT DATA
  98. 98. EXPERIMENTATION PROCESS Brainstorm Prioritize Develop Hypotheses Test & Analyse Systemize/ Iterate
  99. 99. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  100. 100. 1) Test 2 different value propositions 2) Offer more installation options 3) Redesign the Hello Bar 4) ….. BRAINSTORM IDEAS
  101. 101. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  102. 102. STEP 3: DEVELOP HYPOTHESES Example: Hello Bar Hypothesis:
  103. 103. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  104. 104. STEP 4: RUN THE EXPERIMENT Example: Hello Bar New Work Flow
  105. 105. Example: Hello Bar New Work Flow STEP 4: RUN THE EXPERIMENT
  106. 106. Example: Hello Bar New Work Flow (41.67% responded with “WordPress Plugin”) STEP 4: RUN THE EXPERIMENT
  107. 107. Example: Hello Bar New Work Flow (25% responded with “Email my developer / web designer”) STEP 4: RUN THE EXPERIMENT
  108. 108. Example: Hello Bar New Work Flow STEP 4: RUN THE EXPERIMENT
  109. 109. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  110. 110. STEP 5: ANALYSE RESULTS Example: Hello Bar Funnel
  111. 111. Example: Hello Bar Funnel STEP 5: ANALYSE RESULTS
  112. 112. GROWTH HACKING PROCESS Focus on one metric at a time and optimize it through a process of experimentation. Step 3: Develop Hypotheses Step 4: Run the Experiment Step 5: Analyse Results Step 6: Systemise and Repeat Foundation 1: Identify metric to improve Foundation 2: Collect qualitative and quantitative data to understand the reason behind the bad performance Step 1: Brainstorm ideas how to improve the metric Step 2: Prioritize the Ideas
  113. 113. STEP 4: RUN THE EXPERIMENT New Work Flow
  114. 114. Brainstorm Prioritize Develop Hypotheses Test & Analyse Systemize/ Iterate RECAP: EXPERIMENTATION PROCESS
  115. 115. CONTACT: Anna Rehermann anna@growthhackingasia.com

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