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Growth Hacking Deconstructed | Engineering Hypergrowth
- 3. PreviousNext 3 why deconstruct growth hacking? growth hacking = hypergrowth >40% CAGR – double key metric in 2 years
- 4. PreviousNext 4 agenda • hypergrowth case studies • growth hacking definition • growth process
- 6. PreviousNext 6 airbnb 13x in 4 years As many guest arrivals in 2016 as all other previous years combined Source : In Airbnb We Trust, HBS Digital Initiative https://digit.hbs.org/submission/in-airbnb-we-trust/
- 7. PreviousNext 7 uber 38x in 3 years As much revenue (projected) in 2016 as all other previous years combined
- 8. PreviousNext 8 uber Source : Uber 38x in 3 years 10 billion trips completed within 8 years of launch.
- 9. PreviousNext 9 netflix 2.5x in 4 years
- 10. PreviousNext 10 facebook 2x in 2 years 2010 – 2012 to reach (almost) 1B MAUs 2x in 5 years at scale Source : TechCrunch
- 11. PreviousNext 11 conditions for hypergrowth - scalability - socio-economic trends - business models - a focus on growth Source: http://reports.weforum.org/mastering-hypergrowth/
- 12. PreviousNext 12 but how impactful is the focus on growth on engineering hypergrowth?
- 13. PreviousNext 13 facebook Source : TechCrunch 2x in 2 years 2010 – 2012 to reach (almost) 1B MAUs 2x in 5 years at scale
- 14. PreviousNext 14 facebook messenger 6x in 3 years Source : TechCrunch
- 15. PreviousNext 15 facebook instagram facebook acquisition 20x in 6 years Source : TechCrunch
- 16. PreviousNext 16 facebook whatsapp facebook acquisition 3x in 3 years Source : Statista
- 17. PreviousNext 17 can we replicate hypergrowth with a focus on growth?
- 18. PreviousNext 18 voyagin 13x in 2 years As many travelers serves in 2017 as all other previous years combined Source : Voyagin
- 19. PreviousNext 19 conclusion : hypergrowth can be cultivated through a focus on growth.
- 20. PreviousNext 20 focus on growth = growth hacking
- 21. PreviousNext 21 agenda • hypergrowth case studies • growth hacking definition • growth process
- 23. PreviousNext 23 growth hacking is believed to be… a process of rapid experimentation across the marketing funnel to identify the most efficient ways to grow a business.
- 25. PreviousNext 25 growth hacking is believed to be only relevant for startups …
- 26. PreviousNext 26 growth hacking is believed to be about finding short term growth hacks…
- 27. PreviousNext 27 growth hacking is… not any of the above.
- 29. PreviousNext 29 myth : growth hacking is only relevant for startups …
- 30. PreviousNext 30 truth : growth hacking is terrible for early stage startups. elements of a typical startup growth curve Credit : Sean Ellis, Startup Marketing http://www.startup-marketing.com/ Pre PM/Fit (growth flat) PMF Conv. Opt. 1st Driver 2nd Driver
- 31. PreviousNext 31 truth : growth hacking is terrible for early stage startups. elements of a typical startup growth curve Credit : Sean Ellis, Startup Marketing http://www.startup-marketing.com/ Pre PM/Fit (growth flat) PMF Conv. Opt. 1st Driver 2nd Driver growth hacking works here
- 32. PreviousNext 32 myth : growth hacking is about finding short term growth hacks…
- 33. PreviousNext 33 truth : growth hacking is a process with a long-term outlook. 20 photographers hired craigslist hack social connections host guarantee france physical vs digital host acquisition A/B test airbnb neighbourhoods, local lounges cleaning service experiences referral programme Source : In Airbnb We Trust, HBS Digital Initiative https://digit.hbs.org/submission/in-airbnb-we-trust/
- 34. PreviousNext 34 myth : growth hacking is believed to be conducted by… marketing data analysi s engineering gh
- 35. PreviousNext 35 truth : growth hacking cannot be conducted successfully in a vacuum by growth hackers.
- 36. PreviousNext 36 growth hacking needs to be conducted by everyone because it is a culture. growth needs to be the responsibility of every single person in the organization. when the entire team takes ownership for growth, you can harness insights from across the company (ceo to customer service reps)
- 37. PreviousNext 37 the secret to hypergrowth is a team where everyone is mobilized towards growth.
- 38. PreviousNext 38 growth hacking is… an alternative approach to business. pursuing growth at all costs growth > profit
- 40. PreviousNext 40 growth hacking is… a company-wide, experiment-based approach to sustainably scaling a business.
- 41. PreviousNext 41 growth hacking is… a company-wide, experiment-based approach to sustainably scaling a business. everyone data-driven constant iteration building engines, not hackspost PMF
- 42. PreviousNext 42 agenda • hypergrowth case studies • growth hacking definition • growth process
- 43. PreviousNext 43 process • team • setup • month to month process • goals adapted from Sean Ellis’ Hacking Growth
- 44. PreviousNext 44 team hybrid model which mirrors the company’s existing organizational structure all teams indirectly/cross report to the growth lead
- 45. PreviousNext 45 team chief growth officer product engineering marketing data business dev design sales customer service operations
- 46. PreviousNext 46 chief growth officer exec level role chief growth officer ≠ chief marketing officer growth is the pulse of the business – remember growth > profit engineering the growth trajectory of the company building the growth culture & keeping the team focused on it
- 47. PreviousNext 47 process • team • setup • month to month process • goals
- 48. PreviousNext 48 north star metric a single overall success metric that is the ultimate goal of the company. this is necessary because a single metric with clear objectives will mobilize the broader team to participate. everyone then speaks the same language. it is called the north star metric because it is the navigational guide for the team – growth of this metric is your company’s one true north.
- 49. PreviousNext 49 north star metric Airbnb : room nights booked Uber : completed trips Facebook : daily active users Netflix : hours watched
- 50. PreviousNext 50 levers Turn your north star metric into an equation to identify the levers you can pull to impact it.
- 51. PreviousNext 51 levers E-commerce store North star metric: Products Shipped = traffic * conversion rate * products per order = (traffic * conversion rate * products per order)1-time user + (traffic * conversion rate * products per order)repeat user = (traffic * conversion rate * products per order)1-time user + (% of repeat)* {[(traffic * conversion rate * products per order)1-time user * # of orders per user}
- 52. PreviousNext 52 levers increase traffic increase conversion rate increase products per order decrease % of 1-time users relative to repeat users increase # of orders/repeat user
- 53. PreviousNext 53 structure northstar levers increase traffic increase cvr increase aov increase % repeat increase avg orders
- 54. PreviousNext 54 process • team • setup • month to month process • goals
- 55. PreviousNext 55 objectives Products shipped = = (traffic * conversion rate * products per order)1-time user + (% of repeat)* {[(traffic * conversion rate * products per order)1-time user * # of orders per user} +30% -10% +5% +5% +12% +25%
- 56. PreviousNext 56 monthly objectives + key results Objective : increase traffic by 30% Key Results : increase traffic from search by 20% : increase returning user traffic by 200% : launch new affiliate partnerships +5% traffic
- 57. PreviousNext 57 structure northstar levers increase traffic increase cvr increase aov increase % repeat objective : increase traffic by 30% Key Result 1 Key Result 2 Key Result 3 increase avg orders
- 58. PreviousNext 58 experiment proposals Every month, everyone in the company is tasked with submitting 2 experiment proposals Experiment Proposals : - Ideas - Hypothesis - Assumptions - MVP design - Impact on north star (with calculations) - Confidence levels - Ease of execution
- 59. PreviousNext 59 sprints Experiment proposals go into a backlog prioritized by ICE Bi-weekly growth meeting with cross-functional team leads & execs (PM, Marketing, CEO etc.) Decide which experiments to run Goal : Run x experiments per sprint Testing velocity is a leading indicator of growth.
- 60. PreviousNext 60 structure northstar levers increase traffic increase cvr increase aov increase % repeat objective : increase traffic by 30% Key Result 1 EP1 Key Result 1 EP2 Key Result 1 EP3 Key Result 1 EP4 Key Result 1 EP5 sprint : 3rd – 17th September increase avg orders
- 61. PreviousNext 61 process • team • setup • month to month process • goals
- 62. PreviousNext 62 goals inputs - creation of growth culture - creation of testing mindset - high velocity testing methodology - x experiments/sprint outputs - x learnings/sprint - short sprint cycle – learn fast - hypergrowth
- 63. PreviousNext 63 agenda • hypergrowth case studies • growth hacking definition • growth process
- 64. PreviousNext 64 culture Growth is a growth > profit When you pursue hypergrowth, Conclusion You need a growth process to create hypergrowth. the northstar Every single team member needs to be focused on engineered Hypergrowth can be
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