Startupfest 2015: SEAN ELLIS (GrowthHackers.com) - "How to" Stage
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How to build a high performance growth team Growth teams across Silicon Valley and beyond are driving unprecedented results. But contrary to popular mythology, their results are not based on a grab bag of secret growth hacks. Instead, these growth teams are applying a rigorous process of testing and analysis to uncover and optimize sustainable and scalable growth drivers. Sean’s presentation will explain how and when to implement this proven growth process at your startup.
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Startupfest 2015: SEAN ELLIS (GrowthHackers.com) - "How to" Stage
- 1. The Growth Team How to Build a High Performance Growth Team
- 2. About Me • Early career: Led marketing from launch to IPO (Uproar and LogMeIn) • Shifted focus to Early Stage: interim growth roles (Xobni, Dropbox, Eventbrite, Lookout) • Now: Founder/CEO of GrowthHackers
- 4. Product Market Fit • Most important factor for driving growth • “Must have” for large addressable market • Ask users: “How would you feel if you could no longer use this product?” – Very disappointed (40%+) – Somewhat disappointed – Not disappointed – N/A – I already stopped using
- 6. Stacking the Odds for Growth Understand “must have” users • Who are they? • Why is it a must have (key benefit)? • How are they using product? Optimize value delivery engine • Relevant, powerful promise • Onboarding to “must have experience”
- 10. Team: Impact of Growth Teams in SV $274B $27B $50B $10B+ $11B $24B+
- 11. Team: Facebook Growth Team Starts Growth Team Started at Facebook
- 12. Growth Team Drives Testing • Day 1 – No certainty how you will grow • More Testing = More Discovery • Rapid testing across all vectors Acquisition Referral Activation Revenue Retention Resurrection
- 13. Building Growth Team • Core growth team can start ad hoc • Add dedicated people to core team as needed to hit tempo goals (PM, engineer, design…) • Contract temporary specialists for unproven channels (FTE for proven)
- 14. Example: Need for High Tempo • Twitter started growth team in 2009 • Growth slowed in 2010 when team averaged only 1 – 2 tests/month* • In 2011 accelerated to 10+ tests/week *Satya Patel - Agile Marketing Meetup Presentation Q&A
- 15. 2011 Twitter Accelerated Testing 0.5 tests/week 10 tests/week
- 16. 2015 GH Accelerated Testing GH accelerated testing to 3+ per week after growth plateaued
- 17. Example Winning Test • Moved email collector to top • Increased emails collected 700%
- 18. Double Down Tests • Step 2 of registration • Improved design/text
- 19. Results: Step 2 of Registration • 22% boost in sign ups
- 20. Results: Improved Design/Text Test +44.5% Control
- 22. Team Needs a Testing Process Unbridled Ideation Prioritize backlog Launch Tests Capture learning
- 24. Unbridled Ideation Details • Unbridled ideation from full team • Ideas across all vectors • Individual and team accountability Acquisition Referral Activation Revenue Retention
- 26. Formalize Ideas in Experiment Doc • Include research, hypothesis, target lever…
- 27. Prioritize by ICE Score Assign 1 – 10 score for impact, confidence and Ease (10 best) • Impact: If it works, what is potential impact? • Confidence: Evidence that it will work? • Ease: How easy is it to test your hypothesis?
- 29. Test at High Tempo • Tempo quickly identifies opportunities • Weekly growth meeting drives tempo
- 30. Weekly Growth Meeting • No brainstorming (that’s rest of week) • Nominate ideas to test before meeting • Optimize process to hit testing target * GH weekly growth meeting includes CEO, CTO, VP Product, Head of Growth, Head of Design, Growth Engineer, and Analyst
- 31. Weekly Growth Meeting Agenda 15 min: KPI review & update focus area 10 min: Review last week’s testing sprint 15 min: Key lessons learned from analyzed tests 15 min: Select tests for this week’s sprint 5 min: Check growth of idea backlog
- 32. Set Weekly Test Launch Goal • Start small (i.e. 2 tests per week) • Right size tests to hit goal • Add more ambitious tests • Increase weekly test goal
- 34. Capture Learning Details • Every test leads to learning • Ensure transparent sharing/access
- 35. The Growth Silver Bullet?
- 36. Team + Process = Silver Bullet Unbridled ideation Prioritize backlog Launch tests Capture learning
- 37. Ultimate Goal: Growth Culture • CEO must be on board for day one (recognize & praise early participants) • Patience to get others on board • Transparent about results and process • Everyone keep eye out for growth opps
Editor's Notes
- GH Building a system to help companies grow
- If autonomous team start with PM Growth, Growth Engineer, Designer