Growth Section Has One Changed 1 http://i.imgur.com/FmRlA.jpg
US Online Ad Spend Per User 2000 – 2012 $160 $140 $120 $100 $80 $60 $40 $20 $0 3.5x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Rapidly Evolving Customer Acquisition Channels
Yet Some Massive Startup Successes Little or no traditional marketing…
Section One 1 Engineered Growth Momentum
Example: LinkedIn User-Get-User
Used a Growth Hacking Playbook • Experiment with all available growth levers • Understand what’s driving growth, test to improve it • Heavy focus on product and optimization
Growth Without CRO is Very Difficult
Not All CRO = Growth
Which Makes it Very Frustrating Gut-Driven Test Ideas Test Small Changes No Growth
Section One 1 How Do You Get Traction with Your CRO Efforts?
Place Your Bets Wisely • Don’t guess, research… • Quantitative Research What people are/aren’t doing? ! • Qualitative Research Why are/aren’t they doing it?
Quantitative: Visitor Behavior
Quantitative: Discover Your Magic Number
Quantitative: Twitter’s Follow 30 People
Qualitative: Understand Why • Discover the why can lead to breakthroughs in growth • HotelTonight found poor data connections drove conversion rates UP. ! • WHY?
Section One 1 Understand Intent Understand Growth
Key Conversion Levers Why do users exit without converting? ! Not enough desire Too much friction Desire – Friction = Conversion Rate
Qualitative: Understand Why • Address intent first ! • Strong authentic promise (connects to intent) • Social proof • Address fears and UX issues
Growth is a Process – Not a Bunch of Tactics 1. Ideas Looks a lot like 5.Optimize 2.Prioritize 4.Analyze 3.Test a CRO process.
Growth is a Process – Not a Bunch of Tactics If product is hard to market, try complementary product and cross promote.
Section One 1 Double Down to Build Momentum
Qualitative: Understand Why • Airbnb discovered that listings with high-quality photos received 2-3x bookings ! • Airbnb invested in professional photography ! • Booking activity explodes as desire increases
Section One 1 Growth = Increased Units of Gratification
Growth Hacking Toolkit • Analytics — Identify drop-off points and under-performing pages (e.g. Google Analytics, KISSMetrics) • Qualitative Insights — Uncover the why behind the numbers (e.g. Qualaroo, SurveyMonkey) • A/B Testing — Find better performing combinations to drive conversion rate (e.g. Optimizely, Unbounce)
Continuous Optimization of Growth 1. Ideas 2.Prioritize 5.Optimize 4.Analyze 3.Test
Key Takeaways •Marketing challenges require rethinking growth •Effective CRO essential for growth •Continuous experimentation critical for finding new growth levers