5 tips to maximize customer acquisition via growth hacking
DESCRIPTION
"Growth hacking" has become a buzz-word in recent times. But how can marketers maximize customer acquisition, and what are some examples of early growth hacking tactics employed by now radically successful companies? Based on Neal Taparia's article on Forbes, this set of slides combines growth hacking lessons from Sean Ellis, relevant statistics, real life examples, and quotes, to form a visually stunning experience. Enjoy!TRANSCRIPT
55MAXIMIZECUSTOMER ACQUISITION
VIA GROWTH HACKING
TIPS TO
Chatrooms
Social Media
PaidAds
TRY EVERYTHING.FIGHT FOR TRACTION.
1
Chatrooms
Social Media
PaidAds
You can't get traction without hustling.
“Airbnb now seems like an unstoppable juggernaut, but early on it was so fragile that about 30 days of going out and engaging in
person with users made the di�erence between success and failure.”
Paul GrahamCo-Founder, Y Combinator
Source: http://paulgraham.com/ds.html
TRY EVERYTHING.FIGHT FOR TRACTION.
1
SHOPIFY SOCIAL COMMERCE STUDY
Which Social Media Platforms Lead To Sales?
63% of Shopify visits from social media came from Facebook.
Facebook dominates Shopify’s overall social media tra�c (2013).
But Reddit grew the most interms of Shopify purchases (2013):
152%
79%
129%122%
Orders from Reddit grew 152%!
SHOPIFY SOCIAL COMMERCE STUDY
Which Social Media Platforms Lead To Sales?
63% of Shopify visits from social media came from Facebook.
Facebook dominates Shopify’s overall social media tra�c (2013).
But Reddit grew the most interms of Shopify purchases (2013):
152%
79%
129%122%
Orders from Reddit grew 152%!
Remember, these are general statistics. Your target audience may di�er!
Source: http://www.shopify.com/infographics/social-commerce
SEEDING THE TIP JAR
Co-founder of Flickr!
SEEDING THE TIP JAR
Co-founder of Flickr!
In the early days, co-founders Stewart Butterfield and Caterina Fake frequently commented on users’ photos to keep the
community engaged. Their team spent nearly 24 man-hours a day leaving comments.
Source: http://kottke.org/06/11/hosting-a-party
SEEDING THE TIP JAR
SEEDING THE TIP JAR
To promote their product (a bibliography tool), the team behind EasyBib invaded educator
resource blogs, AOL chatrooms, & sent emails to publications. Their e�orts landed them on the front
page of the Chicago Tribune’s business section.
Everyone's gonna be talking about
this killer left hook!
HELP YOUR PRODUCT
MARKET ITSELF
2
Everyone's gonna be talking about
this killer left hook!
HELP YOUR PRODUCT
MARKET ITSELF
2
Hotmail’s "Get your free email at Hotmail" footerhelped them get 20,000+ signups a day.
“We would notice the first user from a university town or from India, and then the number of subscribers from that region would rapidly proliferate. From an
epidemiological perspective, it was as if Zeus sneezed over the planet.”
Steve JurvetsonVC investor in Hotmail
Source: http://techcrunch.com/2009/10/18/ps-i-love-you-get-your-free-email-at-hotmail/
DROPBOX CASE STUDY
2.8 million referral invites were sent out just 30 days
after the campaign launched.
Dropbox's Signups Increased Permanently by 60% After Incorporating Referrals
Source: http://www.slideshare.net/gueste94e4c/dropbox-startup-lessons-learned-3836587
Dropbox CEO Drew Houston cited Sean Ellis's surveys, split
tests and landing page optimizations as “big wins” in encouraging word-of-mouth.
Conversions
1x
1.6x
Before After
30 Days
Ref
erra
ls 2.8 million!
BAKING REFERRALS INTO PRODUCTS
BAKING REFERRALS INTO PRODUCTS
Source: https://www.lunatik.com/rewards
Lunatik’s mobile app encourages you to share its products with your friends. If your friend enters her email into the app and makes a purchase, she gets a
discount while you get a cash reward.
BAKING REFERRALS INTO PRODUCTS
BAKING REFERRALS INTO PRODUCTS
Copy, a filesharing service provider, encourages referrals with Fair Storage: a file shared between 3
friends only takes up a third of its size on each account.
Source: https://www.copy.com/about/pr
TALK TO YOUR
CUSTOMERS
3
Thanks for your feedback, buddy!
F AN#1
TALK TO YOUR
CUSTOMERS
3
Thanks for your feedback, buddy!
F AN#1
Let them tell you how to position your product.
"We did a survey of our 1,000 most enthusiastic customers. I only really cared about one thing: the freeform box with a 500-word
limit that asked, “Why do you shop Bonobos?” I spent a weekend reading all responses. There were three things that stuck out and those became the three pillars of our brand: fit, fun and service."
Andy DunnCEO & Co-Founder, Bonobos
Source: http://www.businesso�ashion.com/2013/07/founder-stories-andy-dunn-on-building-the-giorgio-armani-of-the-e-commerce-era.html
VALUABLE FEEDBACK
LogMeIn Increased Conversions by 300%
Conversions
Free Free or Premium
4x
1x
VALUABLE FEEDBACK
LogMeIn Increased Conversions by 300%
Conversions
Free Free or Premium
4x
1x
LogMeIn learnt that their users weren't converting because they
thought the free o�er was too good to be true.
When a premium option was added, conversions increased 300%.
USER ANALYSIS
USER ANALYSIS
Food on the Table found a mom in their target market, shadowed her for 3 weeks, and used what
they learnt to build the first version of their website. They reached 1 million users in early 2012!
Source: http://conversionxl.com/how-to-identify-your-online-target-audience-and-sell-more/
THINK BEYOND CONTENT
4
Social MediaEngagement
Collaborations
Community
Building
THINK BEYOND CONTENT
4
Social MediaEngagement
Collaborations
Community
Building
Inbound marketing is more than just content marketing.
“Inbound marketing is based on earning attention rather than interrupting, while content marketing is about producing and
promoting content to earn customers.”
Rand FishkinFounder, Moz
Source: http://www.business2community.com/inbound-marketing/whats-di�erence-inbound-marketing-content-marketing-0960376#!bBv8Ie
HUBSPOT SURVEY (2013)
In a 2013 survey, Hubspot found that nearly 20% of
surveyed marketers didn’t know if their company engages in
inbound marketing.
20% of Marketers Surveyed Ignorant About Inbound Marketing
“Does Your Company Engage in Inbound Marketing?”
??Yes
or No
This is despite the fact that inbound marketing doubled companies’ conversion rates.
Conversions
6%
12%
OutboundOnly
Outbound+
Inbound
HUBSPOT SURVEY (2013)
In a 2013 survey, Hubspot found that nearly 20% of
surveyed marketers didn’t know if their company engages in
inbound marketing.
20% of Marketers Surveyed Ignorant About Inbound Marketing
“Does Your Company Engage in Inbound Marketing?”
??Yes
or No
This is despite the fact that inbound marketing doubled companies’ conversion rates.
Conversions
6%
12%
OutboundOnly
Outbound+
Inbound
Source: http://www.stateofinboundmarketing.com
BUILDING A COMMUNITY
GrowthHackers
BUILDING A COMMUNITY
GrowthHackers
To promote Qualaroo (a website testing tool), founder Sean Ellis created GrowthHackers.com, a platform for the discussion of online marketing techniques.
It has since grown into a brand of its own.
ALWAYS, ALWAYS, ALWAYS
TEST.
5
CONVERSIONS
0.5%0.5% 1.1%1.1% 1.6%1.6%
ALWAYS, ALWAYS, ALWAYS
TEST.
5
CONVERSIONS
0.5%0.5% 1.1%1.1% 1.6%1.6%
Testing your ideas is a core tenant of growth hacking.
“What worked for us is most likely not the same as what works for your organization. The key here is to be open minded and let the data tell you what to do, as opposed to
listening to some self-proclaimed faux-guru (or in some cases, even your customer prospects) who says something has to be done a certain way!”
Larry KimFounder & CTO, WordStream
Source: http://www.wordstream.com/blog/ws/2012/09/25/a-b-testing#Kim
UGLY CAN WIN TOO
Landing Pages Don’t Have to be Pretty to be E�ective
Conversions
1x
1.4x
Version 1(Pretty)
Version 2(Ugly)
UGLY CAN WIN TOO
Landing Pages Don’t Have to be Pretty to be E�ective
Conversions
1x
1.4x
Version 1(Pretty)
Version 2(Ugly)
In testing 2 versions of a landing page, WhichTestWon found that the less appealing
one had a surprising 38% higher conversion rate, simply because key features were bolded there.
Source: http://unbounce.com/a-b-testing/shocking-results/
IT’S NOT ALWAYS SIMPLE
IT’S NOT ALWAYS SIMPLE
Groove HQ did A/B testing on 6 of the most popular tests they could find, but got inconclusive results for all of them.
Testing can deliver great results, but you must be ready for a long, slow haul.
Source: http://www.groovehq.com/blog/failed-ab-tests
Proper application of growth hacking tactics can help you acquire customers quickly.
to learn how you can use existing customers to do the same!
ReferralCandy.comVisit
Source: http://www.forbes.com/sites/nealtaparia/2014/07/22/5-things-i-learned-about-growth-hackingSource: -from-the-man-who-coined-the-term/
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