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STEP 2020: Growth Hacking Workshop

STEP Conference is the leading online tech festival for Emerging Markets. Growth Channel Founder & CEO Maryna Burushkina hosted a Growth Hacking workshop to help businesses grow through experimentation and marketing AI.

Here's an easy template to help you kick start with growth experimentation: https://growthchannel.io/growth-hacking-template

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STEP 2020: Growth Hacking Workshop

  1. 1. GROWTH HACKING WORKSHOP 🚀 MARYNA BURUSHKINA FOUNDER @ GROWTH CHANNEL 25 AUGUST 5:40 PM GST
  2. 2. •EVALUATE CURRENT MARKETING INITIATIVES •DO A FULL AUDIT THAT DETERMINES YOUR BEST SOURCES OF LEADS, TRAFFIC, AND PAGE VIEWS. FIGURE OUT WHICH CHANNELS ARE WORKING FOR YOU. •SET ACHIEVABLE GOALS •DETERMINE WHERE YOU'D LIKE TO IMPROVE THESE NUMBERS, AND START TO THINK ABOUT HOW YOU CAN DO SO. •PLAN EXPERIMENTS TO TEST YOUR HYPOTHESES •COME UP WITH TWO, THREE, FOUR, OR TWELVE WAYS OF TESTING YOUR THEORIES, AND HOW YOU CAN REACH YOUR GOALS. •LET IT RUN •EXPERIMENT UNTIL YOUR RESULTS ARE STATISTICALLY SIGNIFICANT. YOU CAN ALSO CONTINUE OPTIMIZING UNTIL YOU REACH YOUR GOALS. •DOCUMENT YOUR WINNING RESULTS •GROWTH HACKING IS ALL ABOUT IMPROVING WHAT YOU ALREADY HAVE. IF YOU COME UP WITH A GAME- CHANGING TACTIC, SPREAD THE WORD. STEP BY STEP TO GROWTH HACKING
  3. 3. •PICK THE RIGHT SET OF METRICS • PICK A LEADING INDICATOR OF REVENUE AND REPEAT BEHAVIOR. DON’T PICK A VANITY METRIC (LIKE APP DOWNLOADS). IF IT’S A MARKETPLACE WITH TWO SIDES YOU NEED TO HAVE METRICS FOR BOTH THE SUPPLY AND THE DEMAND SIDE. •PICK THE RIGHT PERIOD FOR YOUR COHORT • THIS WILL BE TYPICALLY BE A DAY, A WEEK, OR A MONTH DEPENDING ON THE BUSINESS (SHORTER TIME PERIODS TYPICALLY MAKE SENSE FOR YOUNGER BUSINESSES, AND LONGER ONES FOR MORE MATURE BUSINESSES). •IDENTIFY AN INTIAL USER ACTION WITHIN PERIOD 1 • 100% OF THE INSTALL BASE TAKES SOME ACTION THAT IS A LEADING INDICATOR FOR REVENUE. •IDENTIFY A FOLLOW-ON USER ACTION IN PERIOD 2 • CALCULATE THE % OF INSTALL BASE THAT IS STILL ENGAGING IN THAT ACTION AT PERIOD 2 (THE FOLLOWING DAY, WEEK, MONTH, OR YEAR) IMPORTANT
  4. 4. •PICK THE RIGHT SET OF METRICS • PICK A LEADING INDICATOR OF REVENUE AND REPEAT BEHAVIOR. DON’T PICK A VANITY METRIC (LIKE APP DOWNLOADS). IF IT’S A MARKETPLACE WITH TWO SIDES YOU NEED TO HAVE METRICS FOR BOTH THE SUPPLY AND THE DEMAND SIDE. •PICK THE RIGHT PERIOD FOR YOUR COHORT • THIS WILL BE TYPICALLY BE A DAY, A WEEK, OR A MONTH DEPENDING ON THE BUSINESS (SHORTER TIME PERIODS TYPICALLY MAKE SENSE FOR YOUNGER BUSINESSES, AND LONGER ONES FOR MORE MATURE BUSINESSES). •IDENTIFY AN INTIAL USER ACTION WITHIN PERIOD 1 • 100% OF THE INSTALL BASE TAKES SOME ACTION THAT IS A LEADING INDICATOR FOR REVENUE. •IDENTIFY A FOLLOW-ON USER ACTION IN PERIOD 2 • CALCULATE THE % OF INSTALL BASE THAT IS STILL ENGAGING IN THAT ACTION AT PERIOD 2 (THE FOLLOWING DAY, WEEK, MONTH, OR YEAR) IMPORTANT
  5. 5. HOW CAN WE USE TECHNOLOGY TO MAKE BETTER MARKETING DECISIONS AND GET ACCESS TO CREATIVE INTELLIGENCE THE GOLDEN QUESTION
  6. 6. ALLOCATE RESOURCES ONLY TO WHAT HAD BEEN PROVEN TO WORK, THEREBY INCREASING DIGITAL MARKETING ROI. ELIMINATING GUESSWORK, GATHERING AND ANALYSING ENORMOUS VOLUMES OF DATA, AND OPTIMALLY LEVERAGING THE RESULTING INSIGHTS. Harvard Business Review A PIECE OF WISDOM
  7. 7. HOW TO APPLY GROWTH HACKING INTO YOUR MARKETING PROCESS HOW TO EFFECTIVELY APPLY SECONDARY DATA TO CONSTRUCT A MORE PRECISE MARKETING PLAN HOW TO USE AI TO EFFECTIVELY PLAN YOUR MARKETING ACTIVITIES
  8. 8. Source: https://medium.com/marketing-innovation-growth-hacking/ai-marketing-trends-to-watch-out-for-in-2020-438abd6f4633
  9. 9. ‘Open source growth marketing platform’ for marketing, sales, and customer service ERXES.IO
  10. 10. Discover best performing Facebook ads for your niche and instantly replicate them ADVERTSUITE
  11. 11. Discover the impact of marketing channels and allocate your budget towards the best performing ones. INFINI GROW
  12. 12. AUTOMATED SEARCH OPTIMISATION RankScience — SEO split testing powered by AI. BrightEdge — real-time research, recommendations, and rankings for SEO. Keyword Planner ROI — automatically calculate ROI inside Google Keyword Planner (Chrome browser extension). OTHER TOOLS:
  13. 13. DYNAMIC CONTENT & CONTENT OPTIMIZATION Phrasee — AI that specialises in language generation for email marketing, push and Facebook copy through Natural Language Generation system. Segmentify — tracks and targets individual website visitors according to their unique online buying habits. Using this combined data, Segmentify makes personalised product recommendations according to the unique preferences of your customers. Atomic AI — zeroes in on the most important phrases in your content and rewrites them to boost conversions. Hyperise — create personalized images in minutes for all your marketing channels. Abyssale — automated banner ads generation platform. Lemlist — cold outreach email platform with personalized images and videos generation. OTHER TOOLS:
  14. 14. HOW TO EFFECTIVELY APPLY SECONDARY DATA TO CONSTRUCT A MORE PRECISE MARKETING PLAN HOW TO APPLY GROWTH HACKING INTO YOUR MARKETING PROCESS HOW TO USE AI TO EFFECTIVELY PLAN YOUR MARKETING ACTIVITIES
  15. 15. 1. TEST 2. OPTIMIZE 3. LEARN 4. REPEAT
  16. 16. Source: https://medium.com/@growthchannel/16-best-growth-hacking-tips-from-rising-tech-startups-f56f1d566dc7
  17. 17. MY RECENT LEARNINGS: MOST FAVOURITE GROWTH HACKING TACTICS Ask friends to search, download, use 7 review your mobile app Make users invite 3 friends each, in order to get access for closed beta Landing page CTA for beta: "Get Your Invitation” instead of “Get access” or “Get started” Focus on Benefits vs. Features Use personalized videos in emails Use Sniper Link Technique for email confirmations Layer target audience interests in Facebook Ads (5-7)
  18. 18. INSTANT CONTENT A/B TESTING & OPTIMIZATION Neuro Flash Tester - test your copy before publishing based on consumer sentiment
  19. 19. OTHER GOOD TOOLS FOR EXPERIMENTING Google Optimize Optimizely HubSpot / Other CRM Unbounce Crazy Egg
  20. 20. YOUR FREE GROWTH EXPERIMENTATION TEMPLATE Get it on Growth Channel website: https://growthchannel.io/growth-hacking-template
  21. 21. HOW TO EFFECTIVELY APPLY SECONDARY DATA TO CONSTRUCT A MORE PRECISE MARKETING PLAN HOW TO USE AI TO EFFECTIVELY PLAN YOUR MARKETING ACTIVITIES HOW TO APPLY GROWTH HACKING INTO YOUR MARKETING PROCESS
  22. 22. INDUSTRY SEGMENT BUSINESS FOCUS GEOGRAPHY TARGET CUSTOMER ACTUAL CUSTOMER WEB ANALYTICS BUDGET COMPETITION USP … AI GENERATED EXAMPLE HOW GROWTH CHANNEL DOES IT OBJECTIVES
  23. 23. GROWTH CHANNEL Get personalized marketing plan generated by AI.
  24. 24. 27 OR MANUALLY SEARCH MARKETING RESOURCES AVAILABLE IN GROWTH LIBRARY Source: https://growthchannel.io/growth-library/ INDUSTRY SEGMENT BUSINESS FOCUS GEOGRAPHY TARGET CUSTOMER ACTUAL CUSTOMER WEB ANALYTICS BUDGET COMPETITION USP … OBJECTIVES INDUSTRY
  25. 25. RESOURCES FOR INSPIRATION ▸ Growth.Design ▸ Indie Hackers Growth Bites ▸ Growth Tribe Academy ▸ MarketingExamples.com ▸ YC Growth Guide ▸ SaaS Growth Hacks Facebook group
  26. 26. RESOURCES FOR INSPIRATION My fav consolidations are posted in Growth Channel Communities: ▸ Growth Hacking Strategies, Techniques, Best Practices and Case Studies ▸ Growth Channel Talk
  27. 27. MARYNA@GROWTHCHANNEL.IO TWITTER: @MARYNASIFE GROWTHCHANNEL.IO

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