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Introduction to Growth Hacking, part 2 – TrueUp at Digital Growth Day

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Digital Growth Day: September 18, 2014

INTRODUCTION TO GROWTH HACKING
What is growth hacking? Is it an alternative to marketing? Is it just about conversion rate optimisation? What about APIs? Is it completely legal? Is it only for coders? Is it a technique or state of mind?

In this session we'll explore why Growth Hacking has become one of the bigger buzz terms of 2013 and how a number of highly successful startups have used growth hacking techniques to achieve unprecedented levels of success.

We'll look at a variety of different growth hacks, tips and tricks that cleverly utilise data, technology and behavioural science across acquisition, conversion, retention, advocacy and the product.

This session will also teach you how create a structured framework that focus these techniques on the areas that will make the biggest difference to your business.

Liam Reynolds, Founder, True Up

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Introduction to Growth Hacking, part 2 – TrueUp at Digital Growth Day

  1. 1. Introduction to Growth Hacking pt2Digital Growth Day 18.09.2014
  2. 2. Ok lets start pulling all this together
  3. 3. Creating a Growth Hacking framework
  4. 4. Introducing the Growth Hacking cycle
  5. 5. 1. Understanding the funnel The find: How people find out about your brand / product The spark: The initial first impression, typically when hitting homepage for first time or at your page on the app store The light bulb: They get your ‘core product values’ > why they ‘get it’ > why they should use you and not someone else Monetise: How you generate revenue from your customers Advocacy: How your existing customers can help you attract new customers
  6. 6. Analytics tools
  7. 7. Mixpanel example
  8. 8. Create funnels
  9. 9. UTM codes Example: http://blog.hubspot.com/9-reasons-you-cant-resist-list?utm_campaign=blogpost&utm_medium=social&utm_source=facebook Google have a great tool to help define them Google URL builder For apps: Check out mobileapptracking.com
  10. 10. 2. Answer Why they occur Barriers usually occur for 2 main reasons: Technical / perfomance related: E.g. long page load times impacts bounce rate. Eliminate these first ! User choice: Confusion, lack of relevance, too much content, unclear signposting & calls to action
  11. 11. To answer ‘Why’ we need to talk to people 3 simple (but highly effective!) research techniques The classic questionnaire Dynamic surveys User replay E.g. Survey Monkey E.g. Qualaroo E.g. Appsee (for apps) E.g. Session Cam (for web)
  12. 12. 3. Where to prioritise? This involves weighing up the potential growth opportunity with the cost & ease of change + where it is in the funnel (we usually work backwords)
  13. 13. 3. It can be simple or complex (This is what complex looks like)
  14. 14. 4. Test Testing is the art of validating ideas & solutions Using real user behaviour But without jeopardising the business
  15. 15. For website testing These great tools take the pain out of testing & optimisation & worrying about sample sizes & statistical significance
  16. 16. Example of AB testing
  17. 17. Example of multi variant testing 8 different options
  18. 18. Top testing tips Expect to fail: 80% of your tests will Run A:A tests to ensure the tools work & setup properly Ignore initial results as it often takes time for the true results to settle down (they’re usually all over the shop at first) Monetise: How you generate revenue from your customers Aim for 95% confidence with at least 100 winning results & ideally run over 2 weeks
  19. 19. Next step…...
  20. 20. Rinse & repeat !
  21. 21. Thank you :)
  22. 22. My contact details liam@trueup.com trueup.com @MrGrowthHacker @trueupHQ @growth_tips uk.linkedin.com/in/liamreynolds

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