growth hacking vs traditional marketing
TRANSCRIPT
I’ve worked with...
Find [email protected] @andrewallsop https://medium.com/@AndrewAllsop
http://meetup.com/Manchester-Startup-Growth/
Growth Hacking Vs
Traditional Marketing
What is the difference?
Traditional Online Journey
Channel/Campaign £Lead
Impression Click Conversion
Transaction
Submission
CHANNEL SPECIALISM
CREATIVEANALYTICS
DIGITAL MARKETING SKILLS
ACQUISITION
REVENUE
New Tech Lifecycle
Channel/Campaign
Signup/Download/Install ££
MONTH
MONTH
Impression
Click Conversion/Acquisition Activation Revenue/
Retention/Referral
PRODUCT
TECHANALYTICS
GROWTH SKILLS
ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
Growth is…
A process and framework for identifying the most capital efficient ways for a startup to achieve it’s goals within the realm of product, engineering and marketing.
Growth is NOT...
Silver bullet tactics, ‘data-driven marketing’, a remedy for a non-scaleable idea
Examples
Liquidity Hack
How can you beg, borrow and steal to ensure your first impression shows you’re able to satisfy the needs of the people who use your product?
Platform Piggybacking Hack
"This kind of integration is not trivial. … I wouldn’t be surprised if the initial integration took some very smart people a lot of time to perfect. A traditional marketer would not even be close to imagining the integration above – there’s too many technical details needed for it to happen. As a result, it could only have come out of the mind of an engineer tasked with the problem of acquiring more users from Craigslist.” Andrew Chen, Uber
Ask yourself:Where are the edge cases or small communities of your customers on other platforms?
What can you do to make it easier to use your product on those platforms?
What can you do to formalize the partnership once traction has been demonstrated?
Referral Program
Buy some AdWordsBig TechCrunch launch
Hire a PR firm and a CMO
Result~100,000 users
Cost Per Acquisition: £300Customer Lifetime Value: < £100
Source: http://www.slideshare.net/gueste94e4c/dropbox-startup-lessons-learned-3836587/32-Results_ulliSeptember_2008_100000_registered
Results
14 months later: 4,000,000 usersover 55% from referral, viral and sharing features
How can I gamify the act of my customers to refer me to other customers?What story does my customer interaction data tell?If my product isn’t viral, what can you do to create viral artifacts around the problem you’re solving?
CONCLUSION
Traditional marketing is an important part of the users lifecycle - but ignorant towards the majority of it
Traditional marketing doesn’t include the most effective methods for optimising the lifecycle beyond acquisition
Traditional marketing isn’t sympathetic towards some of the most pressing issues early-stage startups face