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[CXL Live 16] Growth Hacking BS: Fixing Marketing One Truth at a Time by Morgan Brown

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Growth hacking has exploded in popularity, with companies scrambling to find magical 'hackers' who create massive user bases and revenue out of thin air. Unfortunately, a closer look shows us that much of the hype is just that. To find growth, companies must stop searching for unicorns and do something much less sexy: get back to work.

In this talk I'll cover:
- how companies actually grow online based on studying dozens of fast-growing startups
- why growth is based on companies finding winning tests faster
- how we did that at growth hackers
- how other companies do it (HubSpot, Twitter, more)
- how to start hacking and start growing
- things to avoid, etc.

Published in: Marketing
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[CXL Live 16] Growth Hacking BS: Fixing Marketing One Truth at a Time by Morgan Brown

  1. 1. GROWTH HACKING B.S. FIXING MARKETING ONE TRUTH AT A TIME
  2. 2. 25.2 MILLION RESULTS
  3. 3. WHY? Marketers THE RISE OF GROWTH HACKING
  4. 4. 1. MASSIVE LEAPS IN DATA & CONNECTIVITY
 2. RISE OF ONLINE PLATFORMS
 3. MARKETING & TECH MELD
  5. 5. ENTREPRENEURS THOUGHT [MARKETERS WERE] GOING TO BUY THEM SUPER BOWL ADS. - Andrew Chen, Uber
  6. 6. WHATTHE HELL IS GROWTH HACKING? Marketers HOW I DEFINE GROWTH HACKING
  7. 7. EXPERIMENT DRIVEN MARKETING FOCUSED ON HOW PRODUCT USE CREATES GROWTH. Yours Truly HOW I DEFINE GROWTH HACKING
  8. 8. HOW’D THEY DO IT? PUNCHLINE: Rapid experimentation is the key to fast growth
  9. 9. Satya Patel, 2014 Agile Marketing Meetup TWITTER GROWTH 2010 - 2012Users(MM) 0 50 100 150 200 Q1 '10 Q3 '10 Q1 '11 Q3 '11 Q1 '12 Q3 '12 0.5 tests/week 10 tests/week TESTING DRIVES GROWTH
  10. 10. TWITTER CASE STUDY ‘GROWTH RELIES ON OPTIMIZATION’ ▸ Iterated through many homepage tests ▸ Fixed form validation error with non- Western account names leading to +80k new accounts per day
  11. 11. PINTEREST CASE STUDY ‘GROWTH HACKING 2015+’ ▸ Optimize copy across customer communications in 30 languages ▸ Make it easy to run experiments at scale (30 languages, 15 variants each) ▸ Have experiments auto- resolve themselves https://medium.com/@jwegan_com/how-pinterest-increased-maus-with-one-simple-trick-be424b02429d#.w1n7bpch8
  12. 12. Faster Tempo = More Learning More Learning = More Growth http://collegesportsblog.dallasnews.com/2014/01/baylor-10th-overall-in-espns-way-too-early-top-25-college-football-rankings.html/
  13. 13. http://searchengineland.com/local-content-silos-secret-local-search-success-223371 GROWTH IS A HORIZONTAL FUNCTIONGROWTH IS A HORIZONTAL FUNCTION
  14. 14. ORG STRUCTURE THE GROWTH TEAM ▸ PM Growth ▸ Analyst ▸ Growth Engineer ▸ Digital marketers ▸ Specialist(s) Zuckerberg poses with some of his deputies at Antonio’s Nut House in Palo Alto, a popular staff hangout: Chamath Palihapitya, vice president for growth, mobile and international; Zuckerberg; Mike Schroepfer, vice president of engineering; Jonathan Heiliger, vice president of technical operations; Chris Cox, vice president of product.
  15. 15. IDEATE PRIORITIZE TEST ANALYZE Unbridled Ideation Focus Prioritization Rapid Testing of Promising Ideas Analysis Learning GROWTH PROCESS
  16. 16. GROWTH PROCESS IDEAS ARE THE FUEL FOR GROWTH ▸ Full team participation (engineering, marketing, ops, etc.) ▸ All funnel elements (AARRRR) ▸ Ideas written as hypotheses
  17. 17. GROWTH PROCESS HYPOTHESIS QUALITY DICTATES IMPACT ▸ Data and evidence based ▸ Testable ▸ Defensible http://mrssirilla.weebly.com/scientific-methods.html
  18. 18. GROWTH PROCESS FOCUS & PRIORITIZATION ▸ Growth lead owns focus (North Star, OKR, etc.) ▸ Hypotheses are scored and sized (ICE Score) ▸ Growth team nominates experiments for testing Get access to Project @ http://project.growthhackers.com
  19. 19. FOCUS & PRIORITIZATION Not throwing spaghetti against the wall
  20. 20. GROWTH PROCESS PRIORITIZE FOR IMPACT Base Conversion Rate % Change 
 vs. Control Required Sample Size / Variant Test Days Required Example A 3% 5% 72,300 72 Example B 3% 10% 18,500 18 Example C 3% 30% 2,250 2 Source: Andy Johns, WMD 2015 talk
  21. 21. What is the airspeed velocity of an unladen swallow?
  22. 22. ANALYSIS & LEARNING Must learn something on every test
  23. 23. ANALYSIS & LEARNING Control always wins when inconclusive
  24. 24. ANALYSIS & LEARNING Learning must be clear & accessible
  25. 25. GROWTH PROCESS WEEKLY GROWTH MEETING ▸ Growth team participation ▸ One full hour, regimented agenda ▸ Not time for brainstorming ▸ Similar to sprint planning / retrospective meetings from Agile process ▸ Drives process, accountability, velocity
  26. 26. GROWTH PROCESS GROWTH MEETING AGENDA ▸ KPI Review and Update Focus (15 min) ▸ Review last week’s testing sprint (10 min) ▸ Key lessons learned from completed/ analyzed tests (15 min) ▸ Selected tests for this week (15 min) ▸ Idea backlog review and favorites (5 min) Get a copy of agenda doc here: http://bit.ly/growthmtg Get our testing template here: http://bit.ly/experimenttemplate
  27. 27. IDEATE PRIORITIZE TEST ANALYZE Unbridled Ideation Focus Prioritization Rapid Testing of Promising Ideas Analysis Learning GROWTH PROCESS
  28. 28. IN ACTION GROWTH PROCESS
  29. 29. SOCIAL LOGIN TEST Original     Visitors: 3151     Conversions: 605     Conversion Rate: 19.2% Variation 1 (w/o social sign-in)     Visitors: 3147     Conversions: 750     Conversion Rate: 23.8% Result: With >99% confidence, the 24% improvement seen with Variation 1 is statistically significant.
  30. 30. FUNNELTEST Result: With >98% confidence, the 32% improvement seen with 10% variant is statistically significant. By offering 10% discount we are increasing revenue by 18.9% over control. 10% Variant Visitors: 4260 Conversions: 303 Conversion Rate: 7.11% 25% Variant Visitors: 2830 Conversions: 213 Conversion Rate: 7.53%
  31. 31. PLAN TYPE TEST Monthly at $19.99 Quarterly at $57
  32. 32. IDEATE PRIORITIZE TEST ANALYZE Unbridled Ideation Focus Prioritization Rapid Testing of Promising Ideas Analysis Learning GROWTH PROCESS
  33. 33. TAKEAWAYS DO THIS NEXT
  34. 34. BUILD YOUR TEAM
  35. 35. REFINE PROCESS
  36. 36. AIM FOR IMPACT
  37. 37. ADD VELOCITY
  38. 38. BE A FORCE FOR GROWTH
  39. 39. GET IN TOUCH THANK YOU - LET’S CONNECT! @morganb @morganb180 morganbrown.co /in/morganb

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