Sean Ellis started off the day off with a high-level introduction to the topic of growth. He reviewed the prerequisites for sustainable growth (PM Fit), the principles of growth and ultimately how a person or team should approach figuring out how to grow or how to accelerate growth in their company. He compared how this is different in a smaller company vs a more established company and the relative challenges and advantages that each type of company has. Want to know who generally cares about driving growth and who has the skills and authority to affect growth? This opening keynote reminds you of the original purpose of growth hacking and build excitement and engagement around the topics that will be discussed throughout the day.
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Measure Growth/Value with North Star Metric
• Quantify expansion of value
delivered to all customers
• Provides lens for measuring
sustainable growth
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Test Across All Growth Levers
- Sources and motivations to try
- Aha moment (1st taste of core value)
- Core value (must have experience)
- Loops for generating new users
- Sources of money from customers
Acquisition
Activation
Retention
Referral
Revenue
Understand relationship between variables that improve
your North Star Metric
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Systematic Growth Testing Process
• Analyze to identify growth opportunities
• Set time-bound objectives with metrics
• Generate, prioritize and test ideas
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LogMeIn Case Study
• Problem: Couldn’t scale profitable spend beyond $10K/month
• Analysis: Over 90% of new signups never performed a remote session
• Solution: Product, Marketing and Sales worked to fix activation issues
• Result:
– 10X improvement in activation rate
– 100X scale in profitable ad spending
– Today LogMeIn $6B+ Valuation
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Need Company-Wide Commitment to Growth
• Executive vision and support to drive change
• Shared mission helps align and engage team
• Shared metric (NSM) to gauge overall progress
• Persistence needed until habit/culture take root
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Shared Mission Key to Getting Buy In
Mission
Growth
Team
North Star
Metric
“Zuckerberg is mind-
numbingly efficient
about slipping the
statement into everyday
conversation”
“Bring the world closer together”
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What to Expect from Today
• Inspirational stories from growth leaders
• Growth lessons from hiring to driving transformation
• Aha! Driving conversion to intense customer loyalty
• What’s next? Evolving landscape and tools for growth
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Goals for GrowthHackers Conference
1. Share experiences
2. Open and honest
3. Collaborative learning
4. Have fun
5. Actionable next steps