growth-hacking & lean marketing - the disruptive approach for startups and entrepreneurs
DESCRIPTION
Understand Growth-hacking and its challenges #disruption #lean #startupsTRANSCRIPT
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Growth Hacking or: Lean Marketing for Startups
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PS: I love you. Get your free e-mail at ???
”“
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In 1996 co-workers Sabeer Bhatia and Jack Smith planned to start JavaSoft
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They were afraid their boss might read their emails
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They were afraid their boss might read their emails
So they built a web-based email system
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...and so was born
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They raised $300,000 from
investors
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But Hotmail’s launch was unimpressive
July August
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Their growth strategy was to buy billboards and radio ads
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But investor Timothy Draper had a better idea
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Put ‘PS: I love you. Get your free e-mail at Hotmail’ at the bottom of each e-mail. ”“
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July September
Within hours, Hotmail’s growth took the shape of a classic
hockey stick curve
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July September
They started averaging 3,000 new users a day
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July September November
Within 6 months, they were up to 1 million users
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July September November January
Five weeks later, they hit the 2 million user mark
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In one case, Bhatia sent an email to a friend in India
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In one case, Bhatia sent an email to a friend in India
within 3 weeks Hotmail had 300,000 users there
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July September November January March May July September November
When they sold to Microsoft 1.5 years after launch, Hotmail had 12 million users
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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)
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This story is not an anomaly
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Why did these companies succeed when everyone else failed?
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Mattan Griffel Founder & CEO, One Month mattangriffel.com
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What we’re going to cover today
What Is Growth Hacking? Growth Hacking Best Practices
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This is adapted from posts by Dave McClure, Andrew Chen, Noah Kagan and others, as well as
from my own experience
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Most startups find themselves facing the
same problem
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They build a product that no one ends up using
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Say your startup has
an idea
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You assemble a team and start building
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Six months later, you have a product you're happy releasing
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When that day finally comes, you launch and…
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When that day finally comes, you launch and…
nothing happens.
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You get a writeup on TechCrunch and several thousand users
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You get a writeup on TechCrunch and several thousand users
(But most of them stop using it after a few days)
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July September November January March May July September November
Nothing like the tremendous viral growth you were anticipating
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What do you do?
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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
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Continuing to ship new features is the worst thing you can do
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It compounds what the real problem was in the first place, which is that you don't know what's wrong
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Enter the growth hacker
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WTF is
Growth Hacking ?
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TechCrunch of Initiation
Wearing Off of Novelty
Trough of Sorrow
Releases of Improvement
Crash of Ineptitude
Wiggles of False Hope
The Promised Land!
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Growth hacking is a set of tactics and best practices for
dealing with user growth
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Growth hacking is a set of tactics and best practices for
dealing with user growth
How do I get more users?
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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?
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Viral growth
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Viral growth
Landing page optimization
SEO
Product management
Email marketing
Analytics
Behavioral economicsPR
Onboarding
UX
Landing page optimization
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Most companies only track three things
Traffic
Revenue
Users
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Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
Get traffic ? Get
users ? Profit
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Those metrics aren’t very helpful
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Those metrics aren’t very helpful
(The magic is what happens in between)
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The key is to map out the user lifecycle for your product
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ACQUISITION
ACTIVATION
RETENTIONREFERRAL
REVENUE
The lean marketing framework
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SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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ACQUISITION
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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Acquisition = getting people to come to your site
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
ACQUISITION
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ACQUISITION
ACTIVATION
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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Activation = getting people to sign up for anything that could lead to a repeat visit
ACQUISITION
ACTIVATION
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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ACQUISITION
ACTIVATION
RETENTION
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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Retention = getting users to become active
ACQUISITION
ACTIVATION
RETENTION
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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ACQUISITION
ACTIVATION
RETENTION
REVENUE
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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Revenue = monetizing active users
ACQUISITION
ACTIVATION
RETENTION
REVENUE
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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ACQUISITION
ACTIVATION
RETENTIONREFERRAL
REVENUE
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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Referral = getting active users to refer others
ACQUISITION
ACTIVATION
RETENTIONREFERRAL
REVENUE
SEO
PRSEM
Viral
BlogsEmail Contests
Partnerships
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ACQUISITION
ACTIVATION
RETENTIONREFERRAL
REVENUE
The lean marketing framework
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Let’s see it in action
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You hear about Quora after your friend posts a question
from Quora to TwitterAcquisition
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After reading the page you decide to create an
accountAcquisition
Activation
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...a few days go by
Acquisition
Activation
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You get a weekly digest email with questions and
links back to the siteAcquisition
Activation
Retention
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Once you’re back, Quora encourages you to read
related questionsAcquisition
Activation
Retention
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And share interesting questions through
Twitter and FacebookAcquisition
Activation
Retention
Referral
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Quora doesn’t currently make money
Acquisition
Activation
Retention
Referral
Revenue
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Each step of the LMF corresponds to a user state
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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
???
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You need to measure conversions at each step
Acquisition Activation Retention Revenue
1752174
1744
10% 30% 30%
![Page 84: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/84.jpg)
Mixpanel and KISSmetrics are great for analytics
![Page 85: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/85.jpg)
plug-and-play
![Page 86: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/86.jpg)
Dave McClure’s example conversion metrics
![Page 87: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/87.jpg)
![Page 88: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/88.jpg)
At first your numbers will be really shitty
Acquisition Activation Retention Revenue
0317
1744
1% 18% 0%
![Page 89: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/89.jpg)
Acquisition Activation Retention Revenue
0317
1744
At first your numbers will be really shitty
Focus here
1% 18% 0%
![Page 90: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/90.jpg)
At first your numbers will be really shitty
Acquisition Activation Retention Revenue
017174
1744
10% 10% 0%
![Page 91: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/91.jpg)
Don’t focus on acquisition if your
activation rate is 1%
![Page 92: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/92.jpg)
Growth hackers have developed tactics for optimizing the funnel
![Page 93: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/93.jpg)
Measure the quality of traffic sources
![Page 94: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/94.jpg)
Minimal landing pages to convert better
![Page 95: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/95.jpg)
Onboarding to improve activation and retention
![Page 96: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/96.jpg)
Get people to come back using email
![Page 97: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/97.jpg)
Incentivization to get people to share
![Page 98: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/98.jpg)
Identify companies that focus on optimizing and try to learn from them
![Page 99: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/99.jpg)
![Page 100: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/100.jpg)
Testing
![Page 101: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/101.jpg)
Unbounce is an amazing tool for easily creating and testing landing pages
![Page 102: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/102.jpg)
Optimizely is a great tool if you already have a site
![Page 103: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/103.jpg)
Vanity and A/Bingo are testing frameworks for Ruby on Rails
![Page 104: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/104.jpg)
Measure the lifetime effect of a change
Acquisition Activation Retention Revenue
1752174
1744
10% 30% 30%
Version A 1744 (100%) 174 (10%) 52 (30%) 17 (30%)
Version B 1670 (100%) 100 (6%) 60 (60%) 18 (30%)
![Page 106: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/106.jpg)
Notable Growth Hacks
![Page 107: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/107.jpg)
BrandYourself kept their Mashable article trending for 2 days by promoting it on
StumbleUpon
Acquisition:
![Page 108: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/108.jpg)
OKCupid has a “tour guide” that interacts with you during the
signup process
Activation:
![Page 109: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/109.jpg)
Groupon has two different pages for Google vs. Direct
traffic
Activation:
(Footers are good for SEO but reduce conversions)
![Page 110: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/110.jpg)
Path texts the app to your phone
Activation:
![Page 111: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/111.jpg)
Dropbox sends an email when a user signs up but never
installs the software
Activation:
![Page 112: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/112.jpg)
Eventbrite sends emails if you’ve been inactive for too long
Retention:
![Page 113: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/113.jpg)
Path has your friends do it instead!
Retention:
![Page 114: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/114.jpg)
Path has your friends do it instead!
Retention:
(Can have a 10x higher conversion rate)
![Page 115: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/115.jpg)
Facebook integration makes it really easy
to get people to share
Referral:
![Page 116: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/116.jpg)
Dropbox, LivingSocial, and Appsumo know incentivization works well too
Referral:
![Page 117: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/117.jpg)
Quora forces people to sign up before they
can read answers
Referral:
![Page 118: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/118.jpg)
Growth Hacking Resources
![Page 120: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/120.jpg)
Quora has boards on Growth Hacks and Growth Hacking
![Page 121: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/121.jpg)
Andrew Chen has posted a list of notable
growth hackers:
![Page 122: Growth-hacking & Lean marketing - the disruptive approach for Startups and Entrepreneurs](https://reader033.vdocuments.site/reader033/viewer/2022052410/554bce80b4c905706a8b4a07/html5/thumbnails/122.jpg)
Coming soon… One Month
Growth Hacking