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Setting and Achieving Growth Goals

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Focusing on the right aggressive growth goals can dramatically increase your company's overall growth rate, moving your team from random ideation to creative problem solving. In these slides, Sean explains how to set and achieve high impact growth goals. You’ll learn how to determine the ideal target and time frame for each growth goal and how to rally your team around a proven growth hacking process for achieving the goals.

Published in: Marketing

Setting and Achieving Growth Goals

  1. 1. Growth Hacking Success Setting and Achieving High Impact Growth Goals November 27, 2016
  2. 2. Overview •  How goals help to drive sustainable growth •  How to pick the right high leverage goals •  How to achieve your goals with a proven process
  3. 3. Problem with No Clear Growth Goals 1.  Team out of sync 2.  Wasted effort 3.  Growth stalls
  4. 4. Why Right Goals Matter? •  Keeps team focused on leverage •  Celebrate victories, avoid burnout •  Makes growth sustainable
  5. 5. Impact of Right Goal at LogMeIn •  Problem –  “Activation” friction with new users –  Couldn’t scale beyond $10K/month •  Goal: Improve new user activation •  Result: Fixed activation, then same channels profitably scaled 100X. Today $2.5B Mkt Cap
  6. 6. Keys to Achieving High Impact Goals 1.  Pick the right goal 2.  Communicate specifics 3.  Focus resources (team and dollars) 4.  Use proven growth hacking process
  7. 7. 1. Finding Right High Impact Goals •  Supports broader mission and goals •  Most leverage in growth model •  Solves problems Example Growth Model (LinkedIn)
  8. 8. 2. Share Specifics with Team •  Context on why goal is important •  Baseline and target •  Timeframe to achieve
  9. 9. 3. Focus Team/Resources •  Limit short-term goals (max one goal per person) •  Assign goal owner –  Passionate about the goal –  Committed to achieving it –  No direct financial incentive
  10. 10. Rally Team Around Goal Product External Channels Promise 1st Experience Ongoing Experience Acquisition Activation Revenue Retention Referral Marketing PR Support Success biz dev Growth Team
  11. 11. GH Example: Achieving Objective •  Set aggressive 30 day activation goal for projects •  VP engineering expressed doubts, “negotiated” 45 days for goal. Same day created new onboarding prototype. •  Exceeded goal in only 20 days with Eng. VP’s idea
  12. 12. 4. Proven Process for Achieving Goals Analyze IdeasPrioritize Test Goal
  13. 13. Analyze the Situation •  Quantitative analysis •  Qualitative feedback •  Combine for insights Analyze IdeasPrioritize Test Goal
  14. 14. Qualitative Example from LogMeIn •  10% signup (90%+ drop off at download step) •  Several A/B tests failed to fix it •  Asked: Why didn’t you download? •  Next test, 300% improvement
  15. 15. Idea Generation for Goal •  Creative problem solving •  Weekly brainstorming session for the objective •  Encourage anytime idea input from anyone Analyze IdeasPrioritize Test Goal
  16. 16. Create Ideas as Experiment Doc •  Include hypothesis, research, target lever ICE Score 1 - 10 I - Impact C - Confidence E - Ease
  17. 17. Prioritize in Weekly Growth Meeting Analyze IdeasPrioritize Test Goal •  Nominate ideas in advance •  “Pitch” team on next tests •  Decide based on resources and expectations
  18. 18. Only Use ICE to Nominate Filter to objective Sort by ICE score
  19. 19. Test to Impact Goal Analyze IdeasPrioritize Test Goal
  20. 20. Improve Overall Testing Throughput Twitter boosts testing tempo 20X GH boosts testing tempo 10X
  21. 21. Analyze Tests and Report Progress Analyze IdeasPrioritize Test Goal •  Share how specific tests impact goal progress •  Keep goal top of mind for team •  Tests lead to new ideas
  22. 22. Repeat to Achieve Goals Analyze IdeasPrioritize Test Goal
  23. 23. Key Takeaways •  Goal setting critical for sustainable growth •  Focus on high leverage goals •  Communicate goals widely •  Follow growth hacking process to achieve goals
  24. 24. Get a free trial of GrowthHackers Projects at Projects.GrowthHackers.com Growth Collaboration Software for Teams: 1) Set Objectives 2) Prioritize Testing 3) Organize Learning

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