Sarah sobieski - Growth Hacking
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Growth hacking is a process of rapid experimentation across marketing channels and product development to identify the most effective, efficient ways to grow a business. Growth hackers are marketers, engineers and product managers that specifically focus on building and engaging the user base of a business.
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- 2. PS: I love you. Get your free e-mail at ???
- 3. In 1996 co-workers Sabeer Bhatia and Jack Smith planned to start JavaSoft
- 4. They were afraid their boss might read their emails
- 5. They were afraid their boss might read their emails So they built a web- based email system
- 6. ...and so was born
- 8. But Hotmail’s launch was unimpressive July August
- 9. Their growth strategy was to buy billboards and radio ads
- 10. But investor Timothy Draper had a better idea
- 11. Put ‘PS: I love you. Get your free e-mail at Hotmail’ at the bottom of each e-mail.
- 12. July September Within hours, Hotmail’s growth took the shape of a classic hockey stick curve
- 13. July September They started averaging 3,000 new users a day
- 14. July September November Within 6 months, they were up to 1 million users
- 15. July September November January Five weeks later, they hit the 2 million user mark
- 16. In one case, Bhatia sent an email to a friend in India
- 17. In one case, Bhatia sent an email to a friend in India within 3 weeks Hotmail had 300,000 users there
- 18. July September November January March May July September November When they sold to Microsoft 1.5 years after launch, Hotmail had 12 million users
- 19. July September November January March May July September November When they sold to Microsoft 1.5 years after launch, Hotmail had 12 million users (There were only 70 million internet users at the time)
- 20. This story is not an anomaly
- 27. Why did these companies succeed when everyone else failed?
- 33. What we’re going to cover today What Is Growth Hacking? Growth Hacking Best Practices
- 34. Most startups find themselves facing the same problem
- 35. They build a product that no one ends up using
- 36. Say your startup has an idea
- 37. You assemble a team and start building
- 38. Six months later, you have a product you're happy releasing
- 39. When that day finally comes, you launch and…
- 40. When that day finally comes, you launch and… nothing happens.
- 41. You get a writeup on TechCrunch and several thousand users
- 42. You get a writeup on TechCrunch and several thousand users (But most of them stop using it after a few days)
- 43. July September November January March May July September November Nothing like the tremendous viral growth you were anticipating
- 44. What do you do?
- 45. TechCrunch of Initiation Wearing Off of Novelty Trough of Sorrow Releases of Improvement Crash of Ineptitude Wiggles of False Hope The Promised Land! You’re in the trough of sorrow, my friend
- 46. Continuing to ship new features is the worst thing you can do
- 47. It compounds what the real problem was in the first place, which is that you don't know what's wrong
- 48. Enter the growth hacker
- 50. Growth hacking is a set of tactics and best practices for dealing with user growth
- 51. Growth hacking is a set of tactics and best practices for dealing with user growth How do I get more users?
- 52. Growth hacking is a set of tactics and best practices for dealing with user growth How do I get more of my users to be active? How do I reduce churn? How do I increase the lifetime value of a user? How do I get more users? How do I measure the effectiveness of new features? What is our AHA moment?
- 54. Viral growth
- 55. Viral growth Landing page optimization SEO Product management Email marketing Analytics Behavioral economicsPR Onboarding UX Landing page optimization
- 56. Most companies only track three things Traffic Revenue Users
- 57. Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Get traffic ? Get users ? Profit
- 58. Those metrics aren’t very helpful
- 59. Those metrics aren’t very helpful (The magic is what happens in between)
- 60. The key is to map out the user lifecycle for your product
- 64. Acquisition = getting people to come to your site ACQUISITION SEO PR SEM Viral Blogs Email Contests Partnerships
- 66. Activation = getting people to sign up for anything that could lead to a repeat visit ACQUISITION ACTIVATION SEO PR SEM Viral Blogs Email Contests Partnerships
- 68. Retention = getting users to become active RETENTION ACQUISITION ACTIVATION SEO PR SEM Viral Blogs Email Contests Partnerships
- 70. Revenue = monetizing active users REVENUE RETENTION ACQUISITION ACTIVATION SEO PR SEM Viral Blogs Email Contests Partnerships
- 71. REFERRAL REVENUE RETENTION ACQUISITION ACTIVATION SEO PR SEM Viral Blogs Email Contests Partnerships
- 72. Referral = getting active users to refer others REFERRAL REVENUE RETENTION ACQUISITION ACTIVATION SEO PR SEM Viral Blogs Email Contests Partnerships
- 73. The lean marketing framework REFERRAL REVENUE RETENTION ACQUISITION ACTIVATION SEO PR SEM Viral Blogs Email Contests Partnerships
- 74. Let’s see it in action
- 75. You hear about Quora after your friend posts a question from Quora to TwitterAcquisition
- 76. After reading the page you decide to create an account Acquisition Activation
- 77. ...a few days go by Acquisition Activation
- 78. You get a weekly digest email with questions and links back to the site Acquisition Activation Retention
- 79. Once you’re back, Quora encourages you to read related questions Acquisition Activation Retention
- 80. And share interesting questions through Twitter and Facebook Acquisition Activation Retention Referral
- 81. Quora doesn’t currently make money Acquisition Activation Retention Referral Revenue
- 82. Each step of the LMF corresponds to a user state
- 83. The growth hacker’s job is to figure out how to move users from one state to the next Creates an account Visits again later ???
- 84. You need to measure conversions at each step Acquisition Activation Retention Revenue 1752 174 1744 10% 30% 30%
- 85. Mixpanel and KISSmetrics are great for analytics
- 86. plug-and-play
- 87. Dave McClure’s example conversion metrics
- 89. At first your numbers will be really shitty Acquisition Activation Retention Revenue 17 3 0 1744 1% 18% 0%
- 90. At first your numbers will be really shitty Focus here Acquisition Activation Retention Revenue 17 3 0 1% 18% 0% 1744
- 91. At first your numbers will be really shitty Acquisition Activation Retention Revenue 17 0 1744 10% 10% 0% 174
- 92. Don’t focus on acquisition if your activation rate is 1%
- 93. Growth hackers have developed tactics for optimizing the funnel
- 94. Measure the quality of traffic sources
- 95. Minimal landing pages to convert better
- 96. Onboarding to improve activation and retention
- 97. Get people to come back using email
- 98. Incentivization to get people to share
- 99. Identify companies that focus on optimizing and try to learn from them
- 101. Testing
- 102. Unbounce is an amazing tool for easily creating and testing landing pages
- 103. Optimizely is a great tool if you already have a site
- 104. Measure the lifetime effect of a change Acquisition Activation Retention Revenue 1752 174 1744 10% 30% 30% Version A 1744 (100%) 174 (10%) 52 (30%) 17 (30%) Version B 1670 (100%) 100 (6%) 60 (60%) 18 (30%)
- 106. Notable Growth Hacks
- 107. BrandYourself kept their Mashable article trending for 2 days by promoting it on StumbleUpon Acquisition:
- 108. OKCupid has a “tour guide” that interacts with you during the signup process Activation:
- 109. Groupon has two different pages for Google vs. Direct traffic Activation: (Footers are good for SEO but reduce conversions)
- 110. Path texts the app to your phone Activation:
- 111. Dropbox sends an email when a user signs up but never installs the software Activation:
- 112. Eventbrite sends emails if you’ve been inactive for too long Retention:
- 113. Path has your friends do it instead! Retention:
- 114. Path has your friends do it instead! Retention: (Can have a 10x higher conversion rate)
- 115. Facebook integration makes it really easy to get people to share Referral:
- 116. Dropbox, LivingSocial, and Appsumo know incentivization works well too Referral:
- 117. Quora forces people to sign up before they can read answers Referral:
- 119. Watch Dave McClure’s Startup Metrics for Pirates
- 120. Quora has boards on Growth Hacks and Growth Hacking
- 121. Andrew Chen has posted a list of notable growth hackers:
- 122. Thank you. Francisco Tomé Costa mail@franciscocosta.com @franciscocosta http://franciscocosta.com