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Think Like A Growth Hacker

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Think Like A 


growth hacker
What is a

growth hacker
      ?
Sean Ellis’ Definition

             http://startup-marketing.com/"

"
A growth hacker is a person whose true
north is gro...

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Think Like A Growth Hacker

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Video of the presentation here... http://youtu.be/Z9LW6je-Scw

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  1. Think Like A 
 growth hacker
  2. What is a growth hacker ?
  3. Sean Ellis’ Definition
 http://startup-marketing.com/" " A growth hacker is a person whose true north is growth.  Everything they do is scrutinized by its potential impact on scalable growth.  Is positioning important?  Only if a case can be made that it is important for driving sustainable growth (FWIW, a case can generally be made)."
  4. Growth Hacker is the new VP of Marketing
 by Andrew Chen" http://andrewchenblog.com/2012/04/27/how-to-be-a-growth-hacker-an- airbnbcraigslist-case-study/
 " Growth hackers are a hybrid of marketer and coder, one who looks at the traditional question of “How do I get customers for my product?” and answers with A/B tests, landing pages, viral factor, email deliverability, and Open Graph. On top of this, they layer the discipline of direct marketing, with its emphasis on quantitative measurement, scenario modeling via spreadsheets, and a lot of database queries. If a startup is pre-product/market fit, growth hackers can make sure virality is embedded at the core of a product. After product/market fit, they can help run up the score on what’s already working." 
 "
  5. “The fastest way to spread your product is by distributing it on a platform using APIs, not MBAs.” 
 - Andrew Chen"
  6. Viral Growth Sustainable Growth
  7. Viral Coefficient   Viral Coefficient = # of Invites * Conversion % 1 = 10 * 10% " " " "      
  8. Simple Viral Growth K=1 Lessons  Learned  –  Viral  Marke0ng  by  David  Skok   h8p://www.forentrepreneurs.com/lessons-­‐learnt-­‐viral-­‐marke0ng/  
  9. Simple Viral Growth K = 2 Lessons  Learned  –  Viral  Marke0ng  by  David  Skok   h8p://www.forentrepreneurs.com/lessons-­‐learnt-­‐viral-­‐marke0ng/  
  10. Viral Cycle Time •  Lessons  Learned  –  Viral  Marke0ng  by  David  Skok   •  h8p://www.forentrepreneurs.com/lessons-­‐ learnt-­‐viral-­‐marke0ng/  
  11. If Viral Coefficient < 1   NOT True Viral Growth  
  12. If Viral Coefficient < 1 YOU Must retain active users
  13. Analytics • Daily Active Users • Monthly Active Users
  14. Sustainability
  15. Viral Loop
  16. Viral  Growth  =  Customers are Free Viral  Loop  =  Customers at a discount
  17. The 4 Ways Customers Drive Sustainable Growth     1. Word of Mouth 2. A Side Effect of Using the Product 3. Paid Advertising 4. Repeat Use
  18. 1. Word of Mouth –  When  people  love  your  product,  they’ll  tell   other  people  about  it.  Great  word  of  mouth  is   oIen  the  Holy  Grail  of  adver0sing.  It’s  cheap,   incredibly  effec0ve,  but  also  difficult  to  build   deliberately.      
  19. why people share The  following  is  roughly  adapted  from  Dr.  Robert  Cialdini’s  “6  Principles  of   Persuasion”   Prestige -­‐  I  will  be  viewed  as  important  because  I   am  associated  with  an  important  brand.       Authority -­‐  people  will  look  up  to  me  because  I   know  about  things  first.       Likable -­‐  people  will  like  me  because  I  share   things  that  make  their  life  be8er.  
  20. Consistency -­‐  I  liked  it  before  so  I  need  to   con0nue  to  like  it  or  I  will  be  in  conflict  with   myself.       Social Proof -­‐  Everyone  else  likes  it,  so  I  do  too.   (Social  proof)     Scarcity  -­‐  Purchase  if  quan00es  are  perceived  to   be  scarce       Influence:  The  Psychology  of  Persuasion  (Collins  Business  Essen9als)   by  Robert  B.  Cialdini   h8p://www.squeezedbooks.com/ar0cles/influence-­‐the-­‐psychology-­‐of-­‐persuasion-­‐(collins-­‐business-­‐essen0als).html      
  21. Social Design   https://developers.facebook.com/socialdesign/ Social  Design  is  a  way  of  thinking  about  product   design  that  puts  social  experiences  at  the  core.   Create  these  social  experiences  with  the   features  available  on  Facebook  Pla_orm.  
  22. 2. A Side Effect of Using the Product –  Many  products  adver0se  themselves.  iPhones,   Coach  purses,  and  Gmail  are  great  examples.   Simply  by  using  a  product,  a  customer  adver0ses   your  product  to  people  around  them.  
  23. h8ps://developers.facebook.com/docs/opengraph/   h8ps://developers.facebook.com/docs/bestprac0ces/  
  24. 3. Paid Advertising –  This  is  what  most  businesses  rely  on.  As  long   as  you’re  able  to  keep  the  cost  of  adver0sing   below  your  marginal  revenue  from  the   campaign,  you’ll  do  just  fine.  Businesses  run  into   problems  when  they  don’t  keep  adver0sing   costs  under  control.  To  help  you  do  this,  make   sure  you’ve  built  a  system  that  can  track  the   effec0veness  of  the  ads  (Google  Analy0cs,   coupon  codes,  etc).    
  25. 4. Repeat Use –  Many  products  need  to  be  bought  repeatedly   in  order  to  con0nue  to  use  them.  Magazine   subscrip0ons,  supplements,  Ne_lix,  and  web   hos0ng  are  all  examples  of  this.  When  you  have   a  product  that  requires  repeated  purchases,  you   only  have  to  obtain  a  small  number  of  new   customers  to  keep  growing.  
  26. Repeat Use •  Be Awesome •  Invested in the product Facebook, LinkedIn, Dating Sites, Luminosity, Pandora" •  Reminder/Re-engage Social Media, Email Marketing, Push Notification"
  27. Think Like A 
 growth hacker •  Always think about growth •  Look at all communication platforms as a tool •  Learn from others (ventures and disciplines)
  28. TimHomuth@gmail.com linkedin.com/in/TimHomuth facebook.com/TimHomuth twitter.com/TimHomuth

Description

Video of the presentation here... http://youtu.be/Z9LW6je-Scw

Transcript

  1. Think Like A 
 growth hacker
  2. What is a growth hacker ?
  3. Sean Ellis’ Definition
 http://startup-marketing.com/" " A growth hacker is a person whose true north is growth.  Everything they do is scrutinized by its potential impact on scalable growth.  Is positioning important?  Only if a case can be made that it is important for driving sustainable growth (FWIW, a case can generally be made)."
  4. Growth Hacker is the new VP of Marketing
 by Andrew Chen" http://andrewchenblog.com/2012/04/27/how-to-be-a-growth-hacker-an- airbnbcraigslist-case-study/
 " Growth hackers are a hybrid of marketer and coder, one who looks at the traditional question of “How do I get customers for my product?” and answers with A/B tests, landing pages, viral factor, email deliverability, and Open Graph. On top of this, they layer the discipline of direct marketing, with its emphasis on quantitative measurement, scenario modeling via spreadsheets, and a lot of database queries. If a startup is pre-product/market fit, growth hackers can make sure virality is embedded at the core of a product. After product/market fit, they can help run up the score on what’s already working." 
 "
  5. “The fastest way to spread your product is by distributing it on a platform using APIs, not MBAs.” 
 - Andrew Chen"
  6. Viral Growth Sustainable Growth
  7. Viral Coefficient   Viral Coefficient = # of Invites * Conversion % 1 = 10 * 10% " " " "      
  8. Simple Viral Growth K=1 Lessons  Learned  –  Viral  Marke0ng  by  David  Skok   h8p://www.forentrepreneurs.com/lessons-­‐learnt-­‐viral-­‐marke0ng/  
  9. Simple Viral Growth K = 2 Lessons  Learned  –  Viral  Marke0ng  by  David  Skok   h8p://www.forentrepreneurs.com/lessons-­‐learnt-­‐viral-­‐marke0ng/  
  10. Viral Cycle Time •  Lessons  Learned  –  Viral  Marke0ng  by  David  Skok   •  h8p://www.forentrepreneurs.com/lessons-­‐ learnt-­‐viral-­‐marke0ng/  
  11. If Viral Coefficient < 1   NOT True Viral Growth  
  12. If Viral Coefficient < 1 YOU Must retain active users
  13. Analytics • Daily Active Users • Monthly Active Users
  14. Sustainability
  15. Viral Loop
  16. Viral  Growth  =  Customers are Free Viral  Loop  =  Customers at a discount
  17. The 4 Ways Customers Drive Sustainable Growth     1. Word of Mouth 2. A Side Effect of Using the Product 3. Paid Advertising 4. Repeat Use
  18. 1. Word of Mouth –  When  people  love  your  product,  they’ll  tell   other  people  about  it.  Great  word  of  mouth  is   oIen  the  Holy  Grail  of  adver0sing.  It’s  cheap,   incredibly  effec0ve,  but  also  difficult  to  build   deliberately.      
  19. why people share The  following  is  roughly  adapted  from  Dr.  Robert  Cialdini’s  “6  Principles  of   Persuasion”   Prestige -­‐  I  will  be  viewed  as  important  because  I   am  associated  with  an  important  brand.       Authority -­‐  people  will  look  up  to  me  because  I   know  about  things  first.       Likable -­‐  people  will  like  me  because  I  share   things  that  make  their  life  be8er.  
  20. Consistency -­‐  I  liked  it  before  so  I  need  to   con0nue  to  like  it  or  I  will  be  in  conflict  with   myself.       Social Proof -­‐  Everyone  else  likes  it,  so  I  do  too.   (Social  proof)     Scarcity  -­‐  Purchase  if  quan00es  are  perceived  to   be  scarce       Influence:  The  Psychology  of  Persuasion  (Collins  Business  Essen9als)   by  Robert  B.  Cialdini   h8p://www.squeezedbooks.com/ar0cles/influence-­‐the-­‐psychology-­‐of-­‐persuasion-­‐(collins-­‐business-­‐essen0als).html      
  21. Social Design   https://developers.facebook.com/socialdesign/ Social  Design  is  a  way  of  thinking  about  product   design  that  puts  social  experiences  at  the  core.   Create  these  social  experiences  with  the   features  available  on  Facebook  Pla_orm.  
  22. 2. A Side Effect of Using the Product –  Many  products  adver0se  themselves.  iPhones,   Coach  purses,  and  Gmail  are  great  examples.   Simply  by  using  a  product,  a  customer  adver0ses   your  product  to  people  around  them.  
  23. h8ps://developers.facebook.com/docs/opengraph/   h8ps://developers.facebook.com/docs/bestprac0ces/  
  24. 3. Paid Advertising –  This  is  what  most  businesses  rely  on.  As  long   as  you’re  able  to  keep  the  cost  of  adver0sing   below  your  marginal  revenue  from  the   campaign,  you’ll  do  just  fine.  Businesses  run  into   problems  when  they  don’t  keep  adver0sing   costs  under  control.  To  help  you  do  this,  make   sure  you’ve  built  a  system  that  can  track  the   effec0veness  of  the  ads  (Google  Analy0cs,   coupon  codes,  etc).    
  25. 4. Repeat Use –  Many  products  need  to  be  bought  repeatedly   in  order  to  con0nue  to  use  them.  Magazine   subscrip0ons,  supplements,  Ne_lix,  and  web   hos0ng  are  all  examples  of  this.  When  you  have   a  product  that  requires  repeated  purchases,  you   only  have  to  obtain  a  small  number  of  new   customers  to  keep  growing.  
  26. Repeat Use •  Be Awesome •  Invested in the product Facebook, LinkedIn, Dating Sites, Luminosity, Pandora" •  Reminder/Re-engage Social Media, Email Marketing, Push Notification"
  27. Think Like A 
 growth hacker •  Always think about growth •  Look at all communication platforms as a tool •  Learn from others (ventures and disciplines)
  28. TimHomuth@gmail.com linkedin.com/in/TimHomuth facebook.com/TimHomuth twitter.com/TimHomuth

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