This presentation was delivered at Forward Leading's Digital Marketing Leader's Summit 2018 in Singapore by Rohit Mulani. Rohit is leading the growth process at Voyagin and shared some of his experiences and the process he uses.
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airbnb
13x in 4 years
As many guest
arrivals in 2016 as
all other previous
years combined
Source : In Airbnb We Trust, HBS Digital Initiative https://digit.hbs.org/submission/in-airbnb-we-trust/
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growth hacking is believed to be…
a process of rapid experimentation across the marketing funnel to identify the most
efficient ways to grow a business.
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truth :
growth
hacking is
terrible for
early
stage
startups.
elements of a typical startup growth curve
Credit : Sean Ellis, Startup Marketing
http://www.startup-marketing.com/
Pre PM/Fit
(growth flat)
PMF Conv.
Opt.
1st
Driver
2nd
Driver
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truth :
growth
hacking is
terrible for
early
stage
startups.
elements of a typical startup growth curve
Credit : Sean Ellis, Startup Marketing
http://www.startup-marketing.com/
Pre PM/Fit
(growth flat)
PMF Conv.
Opt.
1st
Driver
2nd
Driver
growth hacking
works here
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truth :
growth
hacking is
a process
with a
long-term
outlook.
20 photographers
hired
craigslist
hack social connections
host guarantee
france physical vs
digital host
acquisition A/B test
airbnb
neighbourhoods,
local lounges
cleaning service
experiences
referral programme
Source : In Airbnb We Trust, HBS Digital Initiative https://digit.hbs.org/submission/in-airbnb-we-trust/
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growth hacking needs to be conducted
by everyone because it is a culture.
growth needs to be the responsibility of every single person in the
organization.
when the entire team takes ownership for growth, you can harness
insights from across the company (ceo to customer service reps)
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growth hacking is…
a company-wide, experiment-based
approach to sustainably
scaling a business.
everyone
data-driven
constant iteration
building engines, not hackspost PMF
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chief growth officer
exec level role
chief growth officer ≠ chief marketing officer
growth is the pulse of the business – remember growth > profit
engineering the growth trajectory of the company
building the growth culture & keeping the team focused on it
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north star metric
a single overall success metric that is the ultimate goal of the company.
this is necessary because a single metric with clear objectives will mobilize the
broader team to participate. everyone then speaks the same language.
it is called the north star metric because it is the navigational guide for the
team – growth of this metric is your company’s one true north.
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levers
E-commerce store
North star metric: Products Shipped
= traffic * conversion rate * products per order
= (traffic * conversion rate * products per order)1-time user + (traffic * conversion rate *
products per order)repeat user
= (traffic * conversion rate * products per order)1-time user + (% of repeat)*
{[(traffic * conversion rate * products per order)1-time user * # of orders per user}
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experiment proposals
Every month, everyone in the company is tasked with submitting 2 experiment
proposals
Experiment Proposals :
- Ideas
- Hypothesis
- Assumptions
- MVP design
- Impact on north star (with calculations)
- Confidence levels
- Ease of execution
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sprints
Experiment proposals go into a backlog prioritized by ICE
Bi-weekly growth meeting with cross-functional team leads & execs (PM, Marketing,
CEO etc.)
Decide which experiments to run
Goal : Run x experiments per sprint
Testing velocity is a leading indicator of growth.
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structure
northstar
levers
increase traffic increase cvr increase aov increase % repeat
objective : increase traffic by 30%
Key Result 1
EP1
Key Result 1
EP2
Key Result 1
EP3
Key Result 1
EP4
Key Result 1
EP5
sprint : 3rd – 17th September
increase avg orders
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culture
Growth is a
growth > profit
When you pursue
hypergrowth,
Conclusion
You need a growth
process to create
hypergrowth.
the northstar
Every single team member
needs to be focused on
engineered
Hypergrowth can be