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How to Growth Hack Your Marketing Plan

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Here are the slides from the talk I gave at the 'Realtime Marketing Lab' conference in Toronto on October 14th, 2015. The talk is about How to Growth Hack Your Marketing Plan.

Published in: Marketing
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How to Growth Hack Your Marketing Plan

  1. 1. @JimWHuffman How to Growth HACK Your Marketing Plan Jim Huffman VP of Marketing TheTake
  2. 2. @JimWHuffman
  3. 3. @JimWHuffman Acquired for$500M
  4. 4. @JimWHuffman
  5. 5. @JimWHuffman $24B Valuation
  6. 6. @JimWHuffman
  7. 7. @JimWHuffman $10B Valuation
  8. 8. @JimWHuffman What is a Growth Hacker? Sean Ellis (Dropbox) came up with the phrase “Growth Hacker” in 2010 when he was trying to hire his replacement. Because a the Marketing candidates weren’t working out. “A Growth Hacker is a person whose true north star is Growth. ” – Sean Ellis
  9. 9. @JimWHuffman Wait, So What Does that Mean? “After product-market fit and an efficient conversion process, find scalable, repeatable and sustainable ways to grow the business.” – Sean Ellis
  10. 10. @JimWHuffman Product Data / Analytics Marketing Growth Hacking What Goes into Growth Hacking?
  11. 11. @JimWHuffman GH = Distribution Built into Product LINKEDIN Add Your Address Book and Build Your Network. GILT Invite a Friend and Get $25 When They Buy.
  12. 12. @JimWHuffman Growth Hacking Summary 1. North Star = Growth 2. Find scalable, repeatable and sustainable ways to grow 3. Use Product, Data & Marketing 4. Distribution Built into Product
  13. 13. @JimWHuffman STOP How do you know you’re ready to GROW?
  14. 14. @JimWHuffman You Need to Answer Three Questions
  15. 15. @JimWHuffman 1. Do You Have Product Market Fit? How do you measure Product Market Fit? 1. 40% of Users would be “Very Disappointed” if your product disappeared. 2. NPS Score How would you feel if you could no longer use [product]? (A) Very disappointed (B) Somewhat disappointed (C) Not disappointed (it isn’t really that useful) (D) N/A – I no longer use [product] (Survey.io) DISCLAIMER: False positives could emerge from surveys. Make sure your engagement & retention data supports your results.
  16. 16. @JimWHuffman How Do You Maintain PMF? CASE STUDY Talk to users and understand their problem. And do it every single day. We call our experience the “Happiness Initiative” and we measure it daily.
  17. 17. @JimWHuffman 2. Are You Optimized for Growth? CONVERSION: Can you convert a user? RETENTION: Can you keep a user?
  18. 18. @JimWHuffman How We Messed Up Conversion and Then Fixed It CASE STUDY < 1% Sign-Ups
  19. 19. @JimWHuffman We Leveraged Our ‘Magic Moment’ CASE STUDY • Users coming through SEO (70% of traffic) are trying to Solve a Problem, • Identify when you solve a user’s problem = “Magic Moment” • RESOURCE: Alex Schultz, Head of Growth – See your friends • Demonstrate why they should sign up Over 4% Sign-Ups
  20. 20. @JimWHuffman We Bring them Back with Email CASE STUDY • Editorial team dedicated to keeping you users engaged through high quality content.
  21. 21. @JimWHuffman 3. Is Growth a Priority? Then you better track it every single day. Facebook’s #1 Metric: How Many More Users (as a percentage) Were Added Per Day?
  22. 22. @JimWHuffman Summary 1. Product Market Fit 2. Conversion & Retention 3. Everyone’s Focused on Growth
  23. 23. @JimWHuffman GO Congrats, you’re ready for growth.
  24. 24. @JimWHuffman Lets Get in the Growth Mindset 1. Your Goal is to Expedite the Speed of Your Feedback Loop. 2. A/B Testing & Analytics are the Language of Growth. 3. Over 80% of your Growth ideas will FAIL. (And that’s okay.)
  25. 25. @JimWHuffman GROWTH HACK: Plan of Attack STEP 1: Identify Growth Ideas to Test STEP 2: Test for Scalable & Repeatable Ideas STEP 3: Measure & Model Your Growth STEP 4: Repeat
  26. 26. @JimWHuffman How to Come Up with Growth Ideas? It starts with thinking about your Customers. 1. What does the customer or the market want? 2. Who are my customers / users? 3. Where do I find my customers / users? 4. What language do my customers / users speak? STEP 1
  27. 27. @JimWHuffman Here are 19 Traction Channels 1. Viral Marketing 2. PR 3. Unconventional PR 4. SEM 5. Social & Display Ads 6. Offline Ads 7. SEO 8. Content Marketing 9. Email Marketing 10. Engineering as Marketing 11. Targeting Blogs 12. Existing Platforms 13. Business Development 14. Affiliate Programs 15. Trade Shows 16. Community Building 17. Sales 18. Offline Events 19. Speaking Engagements STEP 1
  28. 28. @JimWHuffman Get Inspiration from Market Research 1. Study a Brand or Competitor 2. Research their Traffic Drivers 3. Analyze their channels that have traction 4. See where they’re putting their creative energy STEP 1
  29. 29. @JimWHuffman What to Consider When Testing? • Biggest Impact • Free vs. Paid • Fastest Feedback Loop • What A/B tests are you the most excited about? • What segments are you targeting? And most Importantly . . Are these Ideas are Repeatable & Scalable? STEP 2
  30. 30. @JimWHuffman How to Measure Your Growth? • Simplicity. Simplicity. Simplicity. • Pick One Thing: Traffic, Sign-Ups, Engagement/Retention, Whatever. • Automate Your Reporting. STEP 3
  31. 31. @JimWHuffman How to Model Your Growth? • Model Growth Based on Your Growth Channels • Use Your Inputs to drive growth. Do NOT use growth rates STEP 3
  32. 32. @JimWHuffman Repeat.
  33. 33. @JimWHuffman Case Studies Growth Hacking Inspiration
  34. 34. @JimWHuffman Google Images + Timing = Traffic CASE STUDY Capturing Users Through Organic SEO Screenshots taken in an incognito window • Be the first website to submit images & pages for movie & TV show products • Search = over 70% of Traffic
  35. 35. @JimWHuffman Coach.Me: How They Found 70k Users CASE STUDY • GOOGLE KEYWORD PLANNER: How are people talking about your product? • QUORA: Where are they talking about your product?
  36. 36. @JimWHuffman Hitlist: Engineering as Marketing CASE STUDY Chrome extension went viral on product hunt & featured in the Chrome Web Store
  37. 37. @JimWHuffman Mint: Growth through Content • Challenge: Personal finance (not viral) and requesting personal data • Product Wasn’t Viral but their Personal Finance Blog Was viral. • 1.5 Million Users in 2 Years, Sold for $170 Million CASE STUDY
  38. 38. @JimWHuffman SumoMe: Just Get in the Door CASE STUDY • Promote Free Products (ahead of Paid) • Frictionless Sign-Up: No Credit Card Required
  39. 39. @JimWHuffman Evernote: Find a New Growth Channel CASE STUDY • App Store = New Distribution Channel • “We really killed ourselves in the first couple of years to always be in all of the app store launches on day one.” • 19,000 New Sign-Ups / Day
  40. 40. @JimWHuffman My Favorite Resources 1. How to Start a Startup: Alex Schultz, Growth at Facebook (Video) 2. Lean Startup Marketing (Book) 3. The Viral Startup (Book) 4. Traction (Book) 5. The Viral Loop (Book) 6. Growth Engines (Book) 7. Hooked (Book) 8. The Ultimate Sales Machine (Book) 9. What Great Brands Do (Book) 10.First Round Capital Review (Blog) 11.GrowthHackers.com (Forum) 12.Startup Grind (Podcast) 13.The Growth Show (Podcast) 14.Paul Graham’s Essays (Blog) 15.Neil Patel (Blog) BONUS: jimwhuffman.com (Blog)
  41. 41. @JimWHuffman Let’s Talk Jim Huffman VP of Marketing Jim@thetake.com Twitter: @jimwhuffman

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