Growth Hacking / Marketing 101: It's about process
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Growth hacking is a marketing technique used by startups that focuses on low-cost and innovative alternatives to traditional marketing. It involves using creativity, analytics, and social metrics to sell products and gain exposure through techniques like SEO, website analytics, content marketing, and A/B testing. Growth hackers prioritize growth over budgets by analyzing the customer acquisition funnel to identify opportunities to improve conversion rates at each stage - acquisition, activation, retention, revenue, and referrals. The goal is to brainstorm experiments, prioritize ideas, develop hypotheses, test changes, and systematize optimized processes into a repeatable "growth machine" approach focused on continuous improvement.
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Growth Hacking / Marketing 101: It's about process
- 6. GROWTH HACKING? Thank you @Dilbert_daily
- 8. GROWTH HACKING “ A marketing technique developed by technology startups which use CREATIVITY, ANALYTICAL THINKING & SOCIAL METRICS to sell products and gain exposure Using techniques such as SEO, WEBSITE ANALYTICS, CONTENT MARKETING & A/B TESTING, growth hackers focus on LOW-COST & INNOVATIVE ALTERNATIVES to traditional marketing ” GROWTH FIRST, BUDGETS SECOND
- 10. Lean Marketing Experimental Marketing Data Driven Marketing
- 11. GROWTH FUNNEL
- 12. Acquisition = Getting people to your site / app GROWTH FUNNEL SEO SEM Widgets Blogs / Affiliates Email / Newsletter Social Biz Dev PR Direct, Tel, TV Campaigns, Contests
- 13. ACQUISITION
- 14. ACQUISITION
- 15. ACQUISITION
- 16. GROWTH FUNNEL Product Features Landing Pages Copy Writing Incentives Activation = Getting people to take the required action e.g. purchase, sign up
- 17. ACTIVATION
- 18. ACTIVATION
- 19. GROWTH FUNNEL Emails Alerts Blogs Content Loyalty Programs Retention = Getting users to come back to your app / site
- 20. Retention
- 21. Retention
- 22. GROWTH FUNNEL Ads In-App purchases Lead Gen Subscriptions Revenue = Monetizing active users
- 23. GROWTH FUNNEL Campaigns Contests Email Widgets Referrals = Getting active users to refer others
- 24. Referrals
- 25. AARRR Metrics Funnel Analytics = Identify leaks and opportunities for conversion optimization
- 26. AARRR Metrics Funnel Analytics = Identify leaks and opportunities for conversion optimization 30,000 800 1,000 600 50
- 27. AARRR Metrics Funnel Analytics = Identify leaks and opportunities for conversion optimization 30,000 800 1,000 600 50 Activation rate = 33% Retention rate = 80% Monetization rate = 75% Referral rate = 13%
- 29. Objectives based on Funnel Analytics
- 30. Example objective: DRIVE USER ACQUISITION
- 31. Example objective: DRIVE USER ACQUISITION
- 33. I want the channels that have LOW COST And HIGH TRAFFIC And HIGH CONVERSION
- 35. Your target audience is different Your business model is different Your market is different Your product is different Channels change constantly Thank you @bbalfour
- 37. There are no SILVER BULLETS
- 39. Don’t focus on TACTICS or CHANNELS
- 40. Focus on PROCESS Thank you @bbalfour
- 41. Growth Machine
- 42. Brainstorm Prioritize Develop Hypotheses Test & Analyse Systemize/ Playbook Objectives based on FunnelAnalytics Growth Machine
- 43. Brainstorm A/B test landing page with or without explainer video Example: Send drip email campaign to new sign-ups
- 44. Brainstorm
- 45. Brainstorm
- 46. Brainstorm
- 47. Prioritize Cost Idea 1 Idea 2 Time need Potential reward ... High Low High Low Low Low
- 48. Hypothesis
- 49. Hypothesis If we add an explainer video to our landing page, our conversion rate will increase by 20%. Example:
- 50. Test and Analyze Create 2 new variants of the landing page and include the explainer video at 2 different locations. Example: Ensure conversions are being tracked properly. Split traffic evenly across the control (= existing landing page) and the variants (= run A/B test). Run the experiment for 30 days.
- 51. Test and Analyze
- 52. Test and Analyze
- 53. Systemize Example: Implement the layout changes with the explainer video Look to split-test explainer video on homepage Look to split-test explainer video on other landing pages
- 54. REPEAT • 1. Audience Segment (young women, regional metro, older singles) 2. Channel Source (social network, SEM, organic, PR, etc) 3. Campaign Theme / Brand Promise (“find a job”, “learn to cook”) 4. Landing Page & CTA 5. Copy & Graphics Experiment and optimize:
- 55. 1. Build your Growth Hacking Funnel 2. Define objectives based on Funnel Analytics 3. Build your Growth Machine 4. Test - Measure - Learn - Repeat GROWTH HACKING 101
- 56. Bonus
- 57. The only 3 universal Growth Hacks
- 58. Be the best at getting better Thank you @bbalfour
- 60. Startups do customer development once, then don’t make it part of the product process
- 61. Your next steps Read The Definitive Guide to Growth Hacking if you’re a dummy. Traction from Gabriel Weinberg and Zero to One from Peter Thiel The Innovators Solution by Clayton M. Christensen Subscribe to Neil Patel at Quicksprout to Sean Ellis at Growthhackers.com to Brian Balfour at coelevate to Hiten Sah at SaaS Weekly to Alex Turnbull at Groove to Sam at thehustle.co Study Brian Balfour’s Building a growth Machine Templates at http://bit.ly/1K94rfE Tools at http://growth.supply/free/all/ at Annie Cushing’s must have tools sheet. Youtube any tool you need to learn Google everything else Call RUBEN if all hope is lost.
- 62. Good Luck!