Evolving into the Enlightened Growth Leader
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This document provides tips for evolving into an enlightened growth leader. It discusses understanding the evolving marketing landscape, prioritizing testing and experimentation through a positive feedback loop, zooming in and out to focus on different parts of the customer journey like acquisition, activation, retention, referral, and revenue. It also recommends understanding repeatable customer value through product-market fit, improving cross-functional relationships, knowing your personality and biases, engaging rational thinking, finding mentors and support, and practicing curiosity. The overall message is that sustainable growth comes through a series of small improvements and learning over time.
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Evolving into the Enlightened Growth Leader
- 1. Evolving into the Enlightened Growth Leader Dani Hart @dahartattack | Growthgal.com
- 4. Marketing Channels Quickly Lose Efficiency
- 6. Average human attention span 8.25 Seconds
- 8. Growth Experimentation = Positive Feedback Loop Prioritize TestAnalyze Ideate
- 9. Zoom in• ACQUISITIO N • ACTIVATION • RETENTION • REFERRAL • REVENUE ACTIVATION ∞ Zoom out Repeat
- 10. ZOOM OUT: Monitor Full Customer Journey • ACQUISITION – Organic, Paid, Social, Biz Dev, Content •ACTIVATION – Onboarding, 1st UX, Aha! Moment •RETENTION – Core Value, Engagement, Repeat Purchases •REFERRAL – Customer referrals, Reviews, Virality •REVENUE – Monetization, Pricing
- 11. ZOOM IN: Focus on the biggest opportunity. Prioritize TestAnalyze Ideate Objective
- 12. “Generally, big successes in growth hacking come from a series of small wins, compounded over time. Each bit of learning acquired leads to better performance and better ideas to test, which lead to more wins, ultimately turning small improvements into landslide competitive advantages.” -Hacking Growth
- 14. 1. Understand Repeatable Customer Value Product Market Fit: The foundation of sustainable growth.
- 16. 1. How would you feel if you could no longer use this product? very disappointed 2. How did you discover the product? 3. What would you likely use as an alternative? 4. What is the primary benefit you’ve received from the product? 5. Have you recommended the product to anyone? If so, please explain. 6. What type of person do you think would benefit most from the product? 7. How can we improve the product to better meet your needs? Get the questions here: Bit.ly/PMFSURVEY
- 17. Focus on the must-have customers. Nice-to-have is not ready for sustainable growth.
- 19. “Every person in your company is a vector. Your progress is determined by the sum of all vectors.” — Elon Musk
- 23. Before: Siloed Departments CEO Marketing Marketing PM Product Product PM Customer Success Agents Compliance Bank Approval User Research Data Analyst
- 24. Marketing PM Product PM Customer Success Agent Compliance User Research/ Data Analyst Prioritize TestAnalyze Ideate After: Cross-Functional Team • Centered around common goal • Improved onboarding by 2X in less than a month • Allowed marketing channels to scale Increase # of approved loans > funded
- 25. Leading cross-functional teams • Identify what success looks like together • Consult early & often • Develop relationships • Ask for & welcome feedback • Remember, you’re working with humans
- 28. Take the HEXACO Personality Assessment Visit HEXACO.org for free assessment © psyML.co
- 29. Identify Your Dominant Personality Trait(s) © psyML.co
- 30. 4. Refine your self-care & schedule time for it.
- 31. Stress + Rest = Growth Peak Performance
- 32. 5. Be aware of your biases.
- 34. Sunk Cost Fallacy Credit: Apres Prism
- 37. 6. Engage rational thinking.
- 39. Observe your emotions Practice mindfulness Practice meditation Take slow & controlled breaths Take a break in nature
- 40. 7. Find Mentors & Support Groups.
- 41. Great places to start
- 43. What can I learn from this?
- 44. Recommended Books Growth Hacking Playbook Developing Empathy Understanding Personality Navigating Chronic Stress Stress + Rest = Growth
- 46. Thank you! This is just the beginning. Let’s keep the conversation going! Dani@growthgal.com
Editor's Notes
- The recipe for finding growth opportunities, no matter what your title is. Thank you Pascal for having me! We’ve been talking about this since the beginning of Growth Hacker Talk, what almost two years ago?
- Why you should listen to me
- On the supply side, there are effectively zero barriers to entry in software today, thanks to tons of incredible open source projects, cheap infrastructure-as-a-service (IaaS), global on-demand talent markets, and low-cost channels for digital marketing. On the demand side, marketing continues to expand in scope and scale, wrestle with ever-advancing buyer expectations, assimilate new marketing innovations, face new market disruptions, and strive to differentiate themselves from a global multitude of competitors.
- From 2000-2015 the human attention span dropped pretty dramatically, from 12 seconds to 8.25 seconds. Yes, that’s now less than a goldfish’s attention of 9 seconds. It’s really no surprise. We check to see how our email campaign performed, answer a slack ping, respond to an email, check our notifications, and before we know it, we’ve lost our ability to dive into deep and meaningful work. What does this mean for businesses? If they can’t clearly define the value their customer will receive in the first few seconds of a website visit or email, we’ve lost their attention to one of the other 7000 companies out there.
- In the old days, you could launch a product, and wait months to get results, customer feedback, etc and then gauge success. Technology has advanced, consumer preferences have changed, and marketplaces are increasingly more crowded so customers have more options than ever. Customers have the buying power. Marketing used to be pretty straight forward. You launch new campaigns, you expect a certain ROI, maybe next time you improve that ROI through different direct response tests, etc. Nowadays, marketing cannot be successful on its own.
- Most people think of companies like Facebook, Uber and Airbnb as once-in-a-generation ideas that are a bit like catching lightning in a bottle. That somehow they were destined to be great. That’s actually not true, it turns out. All of these companies faced existential moments of crisis that could’ve killed (or could still kill) any of them. What they all do, which goes under appreciated I think, is that they learn faster than anyone else what it takes to grow, and they use that speed of learning as a massive competitive advantage. All of the companies, regardless of business model, learn faster than anyone and use that learning to grow faster.”
- A vector is a quantity having both magnitude and direction. Every Person is a Vector If you have perfectly awesome people and they’re perfectly misaligned, the result is zero progress. The optimal answer is to have all the vectors aligned. That is, everyone is moving in the correct direction towards a unified goal. That’s how you have maximum impact and how you have maximum progress. Align people with the organization’s goals. Aligning individual teams (product, marketing, sales, service, etc.) with the organization’s goals. Aligning the organization’s goals with the needs of the customer.
- An expert in growth knows what the full elephant looks like. Where customers are coming from, how and when they convert, how they are getting value from the product and what they’re doing when they return to use the product. And if they don’t have the answers to these questions, they seek them. An expert in growth also knows that half of the battle of leading the elephant to water is getting their team to visualize the full elephant, not just the one part they ”feel” on a daily basis in their own department.
- But pushing too hard too often — stress without rest — doesn’t lead to growth. It leads to fatigue and burnout. For our bodies, it is during rest that hormones like testosterone and HGH are released, making us more resilient to future challenges. For our minds, it is during daydreaming, mind-wandering, and relaxation that our subconscious has the opportunity to kick in, helping us generate aha moments of insight (explaining why so many breakthrough ideas occur in the shower). And it’s during sleep that our brains process, consolidate, connect, and store all the information we were exposed to during the day. So many people make the mistake of cutting sleep to do more work when sleep is one of the most productive things you can do. Period. In addition to getting a good night sleep, it’s important to schedule time out of a busy schedule to relax. What relaxation looks like will vary for everyone, and it may take testing a few different things before you know what works best for you. For me, I like to be active, either go on a hike or do yoga, and then spend time at the sauna or steam room to completely clear my head.
- A cognitive bias that occurs when an individual, communicating with other individuals, unknowingly assumes that the others have the background to understand.
- The idea that a company or organization is more likely to continue with a project if they have already invested a lot of time, money, or effort in it, even when continuing is not the best path forward.
- A cognitive bias that involves favoring information that confirms your existing beliefs or biases. To get out of this, try to prove yourself wrong
- A psychological phenomenon that occurs within a group of people in which the desired harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome