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Branchout 2017 - Day 1 Session - Effi Fuks-Leichtag

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Growth Unhacking - Oversimplified Lessons from Growing Things
By Effi Fuks-Leichtag, Group Product Manager at Yelp

Growth hacking has become such a popular practice adopted by many startups and bigger brands alike. However, misunderstanding and less-than-optimal practices are also prevalent. Join Effi, Group Manager from Yelp, as he dissects the key elements in growth to "Unhack" the process.

Published in: Mobile
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Branchout 2017 - Day 1 Session - Effi Fuks-Leichtag

  1. 1. Growth Unhacking Oversimplified lessons from growing things Effi Fuks-Leichtag Group Manager @EffiFuks
  2. 2. Hi I grow stuff for a living Babies Plants Belly
  3. 3. Hi I grow stuff for a living Babies Plants Belly
  4. 4. Hi I grow stuff for a living Babies Plants Belly
  5. 5. Hi I grow stuff for a living Babies Plants Belly
  6. 6. “Increase the units of something affecting your core business in a cost-effective manner over time” Users Claimed businesses Advertisers Drivers Photos created Quote request Units Sold Rooms booked Signups App downloads MAU Ad opportunities Sessions
  7. 7. “Increase the units of something affecting your core business in a cost-effective manner over time” (me) Users Claimed businesses Advertisers Drivers Photos created Quote request Units Sold Rooms booked Signups App downloads MAU Ad opportunities Sessions
  8. 8. Which growth plan is better? Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B
  9. 9. Which growth plan is better for Q1? Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
  10. 10. Which plan is better with 50% actual drag? Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B Planned Actual Actual Planned A B
  11. 11. New idea B is born after Q1 Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B Planned Actual Actual Planned A B
  12. 12. Q2 actuals with 50% drag Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B
  13. 13. Q3 planning Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B
  14. 14. Which growth strategy over time? Time Time unitsofthethingyouneedtogrow unitsofthethingyouneedtogrow A B
  15. 15. “Increase the units of something affecting your core business in a cost-effective manner over time” Users Claimed businesses Advertisers Drivers Photos created Quote request Units Sold Rooms booked Signups App downloads MAU Ad opportunities Sessions
  16. 16. Growth is mainly about time ● Wall Street, your investors, your managers, and your team don’t have time. All of them age at the same rate ● “Diversification of growth investments” ○ Short-term investment drives action and motivation to get to the long-term bet ○ Long-term is your big bet path to innovation ● These protect you from a sleeping giant or under-the-radar maverick
  17. 17. 2 Types of growth projects Bread and Butter 50% chance to get a 5% lift in your metric Takes a short amount of time for a small amount of people to get out the door Easier to test lean Silver bullet 5% chance to get a 50% lift in your metric Takes a lot of people a lot of time to get out the door Harder to test lean
  18. 18. What is Request a Quote? Allows consumers to request quotes from claimed businesses
  19. 19. “Originating” vs. “Bulk Quotes” We pre-select 3 additional businesses to forward the original quote Bulk quotes
  20. 20. RaQ Project Growth Tactics
  21. 21. RaQ Project Growth Tactics
  22. 22. RaQ Project Growth Tactics
  23. 23. How to Shoot a Silver Bullet PLAN / LEARN 1. Spend a quarter to find your next silver bullet. 2. State of mind: “This MUST succeed / I’m taking a mortgage” 3. Do you think it’s a groundbreaking idea? If so, create a “pitch” deck: 1. Run it through a devil’s advocate / your team / your managers / your peers / your significant other / users to tell you why you are wrong. Iterate your plan constantly 2. Survey your market, run user studies 3. If possible, test the water (lightweight experiment) 4. Think about your roadmap to fulfill your vision 5. Scope your MVP. Your MVP must succeed, if not, why? 6. Get allocated people, an organic team is better than mixed team. BUILD 1. Be obsessed with milestones and timing. 2. Be obsessed with metrics setup. LAUNCH 1. Internal launch, friendly lunch, then scale as your learn. 2. GOTO 1
  24. 24. How to Plan a Bread and Butter Plan Spend less than an hour on an idea. State of mind: “F*** it, Ship it. Ship it fast. ” Someone raises an idea to grow. It’s not dumb. It’s not too hard to build. Build Make sure the list of the ideas are sorted by some sort of logic (impact * cost * motivation to build). Weekly planning, picking up stuff from the list, go from the top. Eng motivation beats reason (they are usually aligned). Simple metrics, fast to learn. Launch Big and fast releases ( >33% test groups) quick learning. If it doesn’t work, kill it. If it works, iterate to make it better.
  25. 25. How do I strategize resources? Mindset: Always be growing. Optimize easy-to-measure over hard-to-measure, even if not totally accurate. Don't allow yourself to be pulled into the shine of a sexy silver bullet. In normal days, 30%-70% of your resources (eng weeks / money/ budget) should do Bread and Butter. 100% of work on a silver bullet is an option, but set expectations with your team and managers that you may have no growth for a period of time.
  26. 26. ?
  27. 27. Total Number of McDonald’s Locations
  28. 28. Total Number of McDonald’s Locations ?
  29. 29. Total Number of McDonald’s Locations The big international scale starting
  30. 30. Total Number of McDonald’s Locations The big international scale starting The international experimentation began
  31. 31. Growth = Persistence “ Now, I know what you're thinkin'. How the hell does a 52 year old, over-the-hill milkshake machine salesman build a fast food empire with 16,000 restaurants, in 50 states, in 5 foreign countries... with an annual revenue of in the neighborhood of $700,000,000.00... One word... PERSISTENCE. Nothing in this world can take the place of good old persistence. Talent won't. Nothing's more common than unsuccessful men with talent. Genius won't. Unrecognized genius is practically a cliché. Education won't. The world is full of educated fools. Persistence and determination alone are all powerful. ” [Epilogue, The Founder Movie 2015]
  32. 32. @EffiFuks #branchout17 Questions Submit your questions via sli.do Enter code Branchout2017

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