growth hacking: how to use analytics to create kickass marketing strategies
TRANSCRIPT
Growth Hacking
How to create kickass marketing strategies using analytics
@evelinesmet
The Farm
Free-lance
Start upBBDO
My career path so far
powered by
Freelance clients
What clients ask :
Should we increase our Facebook budget this year? What is the ROI?
Is this marketing campaign effective?
Should we shift our offline budget to online?
Should we advertise on Linkedin / instagram or twitter ?
How can I get more people to buy my product / service?
Why aren’t people signing up on my website?
Every year, there’s a new trend in marketing land..
Growth Hacking
Digital Marketing
Content Marketing
Inbound Marketing
Every year, there’s a new trend in marketing land..
Growth Hacking
Digital Marketing
Content Marketing
Inbound Marketing
You have to be where your customers are
You have to create value
You have to optimize your owned channels
You have to generate sales byusing analytics
Let’s talk about..
Growth Hacking
Inbound Marketing
You have to optimize your owned channels
You have to generate sales byusing analytics
Inbound marketing refers to marketing activities that bring visitors in, rather than marketers having to go out to get
prospects' attention. Inbound marketing earns the attention of customers, makes the company easy to be found, and draws customers to the website by producing interesting
content.
Inbound Marketing
Inbound Marketing
Inbound Marketing
Case study: inbound marketing for B2B client
Inbound Marketing
Case study: inbound marketing for B2B client
Client Me
Case study inbound marketing for B2B clientInbound Marketing
own channel
2014%
2015%
Inbound Marketing
Case study inbound marketing for B2B clientChannel: e-mail
Inbound Marketing
Learning: Sending more e-mails will not do the trick for this B2B client
Inbound Marketing Digital Strategy 2015 for B2B client
More SEO - optimization
More partnerships => referrals
Optimize conversions via direct by optimizing website
Leverage own channels
Optimize paid search
Send less mails but make them more targeted
Perform tests with # social media channels
Case study inbound marketing
Inbound Marketing
The marketing funnel
TV-advertising
e-mails, fb ads to fans Referral
Google AdWords CTA on website Remarketing
sales subscription
Targeted banner
First determine which phase in the funnel you want to target, then choose your channels accordingly
What is growth hacking?
Growth hacking is a marketing technique developed by technology startups which uses creativity, analytical thinking, and social metrics to sell products and gain
exposure. Growth hackers focus on low-cost and innovative alternatives to traditional marketing.
Growth Hacking
Growth Hacking
Dropbox didn’t spend much on marketing, they created a clever growth hack. By referring your
friends, you would get extra space.
Growth Hacking
Hotmail hacked virality by adding this simple phrase to each e-mail
Spotify ‘spammed’ Facebook with the songs people were listening too. Another clever way of gaining
traction.
Mobile Vikings used one of their USP’s (a lot of GB for little money) to create a viral hack. They gave
their users unlimited internet for a day and encouraged them to setup hotspots for their friends.
Growth Hacking
Growth hacking isn’t purely digital. Back in 1950, Mc Donalds figured out that 80% their clients were
commuters and truckers. So they created the golden arches to become more visible on the highways.
Airbnb hacked the Craigslist API so that every post was automatically published to the platform. This
hack got them a lot of traction.
Twitter knew that it was all about active users and that users would only revisit their platform if they
followed at least 5 users. So they made a following suggestion page.
Growth Hacking
Know your customer
Map your conversion funnel
Identify what you are going to optimize
Set KPI’s so that you can measure
Track everything in Google Analytics
Keep optimizing & testing
Growth hacking checklistGrowth Hacking
Growth Hacking
Know your customer
Growth Hacking
vs
Know your customer
A conversion funnel is really an idea or a way to visualize and comprehend the flow and conversion of potential customers into paying customers. If you can
understand and analyze the process, then you can take actions to improve that flow.
Business Step #01
Check out
Business Step #03
Online shopping websiteGrowth Hacking
Add to cartSign upVisit website
1000
200
5040
Map your conversion funnel
Business Step #01
Business Step #03
Growth Hacking
Add to cartSign upVisit website
200
50
Conversion rate = 4%
Check out
40
1000
Visit website
Map your conversion funnel
Online shopping website
Visit website
Business Step #01
Business Step #03
Growth Hacking
Add to cartSign up
200
50
Conversion rate = 4%
Cost per acquisition :25€
Check out
40
Cost per click :1€
Visit website
1000
Map your conversion funnel
Online shopping website
Business Step #01
Business Step #03
Growth Hacking
Add to cartSign upVisit website
200
50
Cost per acquisition : 25€
Check out
40
Lifetime value : 100€
Cost per acquisition :25€
Revenue per user : 75€
Map your conversion funnel
Cost per click :1€
Visit website
1000
No e-commerce? No problemGrowth Hacking
Map your conversion funnel
Track incoming enquiries
Track newsletter opt-ins
Track number of calls
Track new subscribers
Track number of content downloads
Lead tracking: RaylexGrowth Hacking
Map your conversion funnel
Don’t track contact forms. Track leads. Try to track as close as possible to the actual sale. If you don’t sell
directly on your website, track store location searches.
Cost per click :1€
Visit website
1000
Business Step #01
Check out
Business Step #03
Growth Hacking
Add to cartSign upVisit website
200
5040
Channel testing
Facebook sign in
Show what friends have bought Give discount
Abandon cart CTA
Identify what you are going to optimize
Add CTA button
Growth hacking in each stage of user behavior
Acquisition
Activation
Retention
Referral
Revenue
People visit your website
They sign up
They keep using your product / service
They tell their peers
User behavior is monetized
AirBnB: tell your friends & get a discount
Ace & Tate: get a discount if your friends buy
Twitter: follower suggestions
Online casino: sign up and get free cash
Spotify: Facebook integration
Mobile Vikings: free internet for hotspots
Facebook: daily / weekly roundup mail
Netlog: sign up to see your friends’ profiles
Hotmail: PS I love you
Twenty 20: If your picture gets picked, you get cash
Growth Hacking
Identify what you are going to optimize
KPI’s per stage of user behavior
Acquisition
Activation
Retention
Referral
Revenue
People visit your website
They sign up
They keep using your product / service
They tell their peers
User behavior is monetized
Shares via social / mail / ..
conversion rate per source
Active users - completed profiles
sign up conversion rate
time on site - pages viewed
Number of shares per person - conversion rate
Number of actions done per user
sign up per source
cost per acquisition per source
revenue per source
Growth Hacking
Set KPI’s so you can measure
Set actionable KPI’S
Number of Facebook fans VS
Growth Hacking
Set KPI’s so you can measure
Revenue coming via Facebook
Number of downloads app VS Number of active users app
Pageviews VS Time on site + number of pages viewed
Cost per click VS Cost per action
We have a CPC of 2€, is that good?
World’s first banner vs Coolblue bannerGrowth Hacking
Set KPI’s so you can measure
CTR: 78% CTR: 3%
Which banner will have the best results?
Set KPI’s so you can measure
Growth Hacking
Reach is not a good KPI
Target as narrow as possible
Set KPI’s so you can measure
Growth Hacking
Facebook ads reach paradox
If your ads are targeted right, they don’t need to be show to a lot of people to get the right results. If it is necessary that ads get a lot of reach, it is because
they don’t work that good.
Set KPI’s so you can measure
Growth Hacking
Comparison between different Facebook apps
Track everything in Google Analytics
Growth Hacking
Track everything in Google Analytics
Growth Hacking
Track everything in Google Analytics
Growth Hacking
Cost per acquisition
Lifetime value
Revenue per user
Is my marketing being effective? Am I making money?
=
-
Track everything in Google Analytics
Growth Hacking
Conversion rate per channel In which channel should I invest?=
Cost per acquisition per channel
Which channel is most cost efficiently? =
Most visited blogpost / pages Which content should I use for my campaigns?=
Internal search terms Which content should I add to my page=
Channel optimization
Content optimization
Growth Hacking
A/B testing
Keep optimizing & testing
Growth Hacking
Keep optimizing & testing
Check your own hood and use your insights to improve your overall strategy and / or product design.
Use insights about users to optimize your platforms
What clients ask :
Should we increase our Facebook budget this year? What is the ROI?
Is this marketing campaign effective?
Should we shift our offline budget to online?
Should we advertise on Linkedin / instagram or twitter ?
How can I get more people to buy my product / service?
Why aren’t people signing up on my website?
What clients ask :
Let’s check the cost per acquisition for Facebook & set KPI’s.
Is this marketing campaign effective?
Should we shift our offline budget to online?
Should we advertise on Linkedin / instagram or twitter ?
How can I get more people to buy my product / service?
Why aren’t people signing up on my website?
What clients ask :
Let’s check the cost per acquisition for Facebook & set KPI’s.
Is this marketing campaign effective?
Should we shift our offline budget to online?
Should we advertise on Linkedin / instagram or twitter ?
How can I get more people to buy my product / service?
Let’s see where they drop outand how we can A/B test with different CTA’s or optimize the sign in process
What clients ask :
Let’s check the cost per acquisition for Facebook & set KPI’s.
Let’s calculate the revenue per user and check the cost per acquisition.
Should we shift our offline budget to online?
Should we advertise on Linkedin / instagram or twitter ?
How can I get more people to buy my product / service?
Let’s see where they drop outand how we can A/B test with different CTA’s or optimize the sign in process.
What clients ask :
Let’s check the cost per acquisition for Facebook & set KPI’s.
Let’s calculate the revenue per user and check the cost per acquisition.
Should we shift our offline budget to online?
Let’s set up KPI’s, test and evaluate the different channels.
How can I get more people to buy my product / service?
Let’s see where they drop outand how we can A/B test with different CTA’s or optimize the sign in process.
What clients ask :
Let’s check the cost per acquisition for Facebook & set KPI’s.
Let’s calculate the revenue per user and check the cost per acquisition.
Let’s make sure we can calculate the effectiveness of offline channels & benchmark them.
Let’s set up KPI’s, test and evaluate the different channels.
How can I get more people to buy my product / service?
Let’s see where they drop outand how we can A/B test with different CTA’s or optimize the sign in process.
What clients ask :
Let’s check the cost per acquisition for Facebook & set KPI’s.
Let’s calculate the revenue per user and check the cost per acquisition.
Let’s make sure we can calculate the effectiveness of offline channels & benchmark them.
Let’s set up KPI’s, test and evaluate the different channels.
Let’s optimize your content and your marketing strategy.
Let’s see where they drop outand how we can A/B test with different CTA’s or optimize the sign in process.
Marketing vs sales
It’s not all about the money
Different brand purposes
Community building
Costumer service
Getting customer feedback
A platform for user generated content
Testable, trackable, scalable
Make sure everything you do is:
Thx! @evelinesmet