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Growth Hacking 101: Growth Metrics, Lean Analytics & Growth Culture

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Presentation covers the basics of growth hacking, lean analytics, tools to measure user behavior and hacks that are publicly available.

Published in: Marketing

Growth Hacking 101: Growth Metrics, Lean Analytics & Growth Culture

  1. 1. GROWTH! HACKING ! Anirudh Narayan
  2. 2. Anirudh Narayan Growth Hacker, Shutterstock! • Managed a monthly marketing budget of $25,000 • Scaled two marketing channels that increased ARR by $100,000 ! Growth Manager (Americas & Africa), Lean Startup Machine! • Led expansion of business in 50 cities in Americas and Africa • Provided lean startup training to ESPN & TLC • Mentored over 350 aspiring entrepreneurs in lean startup methodology ! Director of Operations, Krossover! • Part of founding team (5th member) that went on to raise $7,000,000 in funding • Led a team of 25 sports analysts ! Business Consultant: Engineer: Growth Hacker | Digital Nomad | Data Nerd
  3. 3. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  4. 4. GROWTH HACKING “Growth hacking is a marketing technique that uses creativity, analytical thinking and metrics to increase revenue and gain traction for your business. ”
  5. 5. “GROWTH HACKING IS SEXY” NOT
  6. 6. You’re this guy
  7. 7. WHO IS A GROWTH HACKER? Source: @Twoodo, @darnocks
  8. 8. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup! 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  9. 9. JOURNEY OF A STARTUP Source: Paul Graham. Enhanced: Trevor Owens
  10. 10. JOURNEY Idea ! User FlowsConcierge Exploration! Pre-Sell (Pitch) AlphaPrototype Beta Scale Lean Startup: Idea to Product Market Fit GrowthHacking:ProductMarketFittoScale Customer Personas Lean Canvas #growthhackingLATAM
  11. 11. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  12. 12. PRODUCT MARKET FIT
  13. 13. PRODUCT MARKET FIT ! ! How would you feel if you could no longer use this product?! ! A. Very disappointed! B. Somewhat disappointed! C. Not disappointed! D. N/A or I no longer use your product ! IF > 40% MARK ! OPTIMIZE & SCALE ! IF < 40% MARK ! CUSTOMER DEVELOPMENT! ! ! Source: Sean Ellis, CEO Qualaroo, Ex-Marketer at Dropbox.! ! !
  14. 14. PRODUCT MARKET FIT ! ACHIEVED PRODUCT MARKET FIT ( > 40% )! ! ! I) Passionate Users:! ! Why did you sign up for the product originally?! What is the primary benefit you receive from the product?! Why is that benefit important to you?! How do you describe the product when you’re recommending it to friends? ! II) New Visitors: ! III) Abandoned before purchase: ! !
  15. 15. PRODUCT MARKET FIT NPS = %PROMOTERS - %DETRACTORS IV) What is the likelihood that you would recommend this product (Scale: 1-10 ACHIEVED PRODUCT MARKET FIT ( > 40% )!
  16. 16. ! Customers: ! ! How do they use the product ! What’s the primary benefit they received from the product. ! Change messaging ! PRODUCT MARKET FIT NEED TO ACHIEVE PRODUCT MARKET FIT ( < 40% )!
  17. 17. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  18. 18. CUSTOMERS PERSONA EXAMPLE
  19. 19. How to build customer personas? Tools to use to build personas CUSTOMERS PERSONA TEMPLATE
  20. 20. WHERE CAN I FIND THEM?
  21. 21. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  22. 22. Business Goals ! • Revenue! ! • Objectives & Key Results (OKR’s ! • Growth Metrics
  23. 23. SAAS PRODUCTS (Software As a Service)! ! Annual Revenue = Function {Ec, Nc, C, Cu,Cd ! • Existing Customers (Ec)! • New Customers (Nc)! • Churn (C)! • Customers Upgraded (Cu)! • Customers Downgraded (Cd)! ! Business Goals: Revenue
  24. 24. SAAS PRODUCTS (Software As a Service)! ! • Total users = 20 million! • Free users = 18 million! • Paying users = 2 million (10% of total users), Subscription: $9/month! • Annual Revenue 2015 = (2 million * $10 * 12 months) = $240 million! ! • GOAL: Annual Revenue 2016 : $300 million! • Increase Revenue by $60 million i.e. $ 5 million by month 1! • Increase number of users by the end of the year by 500,000! • Increase paying users from 2 million to 2.5 million.! ! POSSIBILITIES:! • Existing Customers (Ec)! • New Customers (Nc) (Add a total of 5 million total users)! • Churn (C) (Net adds)! • Customers Upgraded (Cu) (Can we get 500,000 users from our existing 18 million)! • Customers Downgraded (Cd)! Business Goals: Revenue
  25. 25. ! E-COMMERCE PRODUCTS! ! Annual Revenue = Function {Se, Cr, Bs ! • Sessions (Se)! • Conversion Rate (Cr • Average Basket Size (Bs ! Business Goals: Revenue
  26. 26. Objective: Business Goals.! ! Results: ! • Growth • Engagement • Revenue • Performance • Quality ! Personal Growth and Company Goals.! ! Business Goals: OKR’s
  27. 27. Objective: ! Key Results:! • Improve number of unlocking • Improve avg. number of votes in each city from 250 to 400. • Increase number of tickets being sold in insider from 12 to 15 ! Objective: ! Key Results: • Increase per day views to 1,000 • Total monthly uniques 45,000 ! ! Business Goals: OKR’s
  28. 28. ! • Cost Per Lead (CPL), Cost Per Acquisition (CPA)! ! • Churn Rate! ! • Bounce Rate! ! • Conversion %! ! • Daily Active Users (DAU), Monthly Active Users (MAU)! ! • Annual Recurring Revenue(ARR), Monthly Recurring Revenue(MRR) ! ! • Life Time Value (3 CPA < LTV) Business Goals: Growth Metrics
  29. 29. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  30. 30. ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop INTRODUCTION TO LEAN ANALYTICS
  31. 31. LEAN ANALYTICS • Acquisition [Bounce Rates, Number of Visitors, Emails]! ! • Activation [Logins, Accounts Created, Demo, Free Trials]! ! • Retention [Number of Active users, Inactive Users]! ! • Referral [Number of users signing up through referral]! ! • Revenue [Paid users, monthly/ Annual]!
  32. 32. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop
  33. 33. ACQUISITION ! • Marketing Channels (Paid/Unpaid)! ! • High Converting Landing Page! ! • Exit Intent! ! • Retargeting! ! • Content Amplification
  34. 34. MARKETING CHANNELS Free Marketing Channels! ! • Social Channels (Twitter, FB, LinkedIn, Quora, Instagram, Pinterest) • Email • Cross Promotions • Meetups & Events • Community Building • Blogging/Creation of content • Guest blogging • Youtube • Word of Mouth • SEO Paid Marketing Channels! ! • SEM • Paid Social (Twitter, LinkedIn, Facebook) • Online Display Ads • Offline Advertising • Public relations • B.D, Sales, Trade Shows • Retargeting • Content Amplification • Affiliate Marketing • TV & Radio Ads • Platform Integration
  35. 35. LEAN ANALYTICS: ACQUISITION Optimized Landing Page
  36. 36. LEAN ANALYTICS: ACQUISITION Optimized Landing Page
  37. 37. LEAN ANALYTICS: ACQUISITION Optimized Landing Page
  38. 38. TOOLS HIGH CONVERTING LANDING PAGE #growthhackingLATAM
  39. 39. Exit Overlay Hubspot ACQUISITION: EXIT INTENT
  40. 40. QuickMVP Exit Overlay ACQUISITION: EXIT INTENT
  41. 41. ACQUISITION: EXIT INTENT Skillfeed
  42. 42. TOOLS! ACQUISITION: EXIT INTENT
  43. 43. ACQUISITION: RETARGETING HANDY PLATED
  44. 44. ACQUISITION: CONTENT AMPLIFICATION
  45. 45. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop #growthhackingASIA
  46. 46. LEAN ANALYTICS: ACTIVATION 1 2 LIVING SOCIAL Reducing Friction!
  47. 47. LEAN ANALYTICS: ACTIVATION Reducing Friction! LIVING SOCIAL 3 4
  48. 48. LEAN ANALYTICS: ACTIVATION 5 6 Reducing Friction!
  49. 49. LEAN ANALYTICS: ACTIVATION Reducing Friction!
  50. 50. LEAN ANALYTICS: ACTIVATION Drip/Behavioral Campaigns! Source: Zapier, Tools: Marketo, InfusionSoft, Customer.io, Intercom !
  51. 51. LEAN ANALYTICS: ACTIVATION Drip/Behavioral Campaigns Tools!
  52. 52. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop
  53. 53. LEAN ANALYTICS: RETENTION Email Strategy | LinkedIn! TYPES OF EMAILS! ! 1. People are looking at your profile 2. You got a message, reply 3. Waiting for your response 4. See someone’s connections 5. Congratulate someone for their job 6. Is celebrating work anniversary 7. New announcement in the group 8. Someone has endorsed you 9. Happy Birthday 10. Someone from your gmail contacts joined, connect with them? 11. Job Related Tips 12. Looking for candidates like you 13. Special Announcement Emails
  54. 54. LEAN ANALYTICS: RETENTION Competition + Ranking + Levels!
  55. 55. LEAN ANALYTICS: RETENTION New Content!
  56. 56. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop #growthhackingASIA
  57. 57. LEAN ANALYTICS: REFERRAL Incentivize referrals for goodies!
  58. 58. LEAN ANALYTICS: REFERRAL Incentivize referrals for goodies!
  59. 59. LEAN ANALYTICS ACQUISITION ACTIVATION RETENTION REFERRAL! REVENUE! Viral Loop #growthhackingLATAM
  60. 60. LEAN ANALYTICS: REVENUE Pricing Hacks Use congruent language Use small font size Remove comma Separate shipping + handling Source: www.nickkolenda.com
  61. 61. LEAN ANALYTICS: REVENUE Monetizing most actively used feature
  62. 62. LEAN ANALYTICS: REVENUE Most Popular Pricing
  63. 63. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing! 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  64. 64. A/B TESTING Comparing 2 versions of a web page to see which one performs better
  65. 65. EXAMPLES OF A/B TEST
  66. 66. Twitter Ads EXAMPLES OF A/B TEST
  67. 67. EXAMPLES OF A/B TEST Emails
  68. 68. A/B TESTING #growthhackingLATAM 1. Landing Page Messaging! 2. Button Colors! 3. Sign Up Forms! 4. Images
  69. 69. A/B TESTING #growthhackingLATAM
  70. 70. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing! 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  71. 71. GROWTH HACKING CYCLE
  72. 72. STEP 1: ANALYZE CURRENT DATA
  73. 73. STEP 2: IF DATA MISSING, COLLECT DATA
  74. 74. STEP 3: IDENTIFY AREAS OF IMPROVEMENT
  75. 75. STEP 4: DECIDE METRIC
  76. 76. STEP 5: SETUP AND RUN EXPERIMENT!
  77. 77. STEP 5: ANALYZE RESULTS!
  78. 78. STEP 6: Pivot or Persevere
  79. 79. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  80. 80. PRODUCT PLAN Impact versus Technical Ease
  81. 81. GROWTH HACKING 1. What is Growth hacking?! 2. Journey of a Startup 3. Identifying Product Market Fit! 4. Building Customer Personas ! 5. Business Goals! 6. Lean Analytics (AARRR)! 7. A/B Testing 8. Growth Hacking Cycle! 9. Product Plan! 10. Setting a growth culture! #growthhackingASIA
  82. 82. SETTING A GROWTH CULTURE • Testing Thursdays! ! • Analyze Wednesdays! ! • Empower Individuals Within Company! ! • Invite Customers
  83. 83. THANK YOU ! • Twitter: ! • Email: ! • Course: ! • Use code ! ! *3 courses | Free email course | 10 friends: 50%

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